How much can I really expect to pay on rent?

Lukethestudent

Hi all,

I am starting my graduate job in August so I am looking around to find a decent pad for the next year. I will be taking home near enough to £1600 a month.

I went looking for houses yesterday and found one or two I liked. Problems being they were either too far from town that it will cost £20ish for a taxi home, or that the houses were full of students.

Both these houses cost around £400 a month but include all bills (excluding a parking permit for the student one). There are however some nice 1 bed flats/studios for around the same price. Problem being here that I will need to pay bills.

The council tax is around £90 (including discount). The other bills I'm unsure about (virgin have an internet without needing a phone line for around £25).

How much does everybody think electricity and gas will be a month, along with food etc. Also how much should I reasonably look to spend? I've heard a third is a good value so around £530.

Any advice or ideas,

Luke

Angie_B

Where are you looking to rent? Bills will vary depending on the type of flat as well, i.e. old, draughty, single glazed flats will cost more to heat than newer, double-glazed, cavity wall insulated flats.

It will also depend on how warm you like to keep the property, how many hours you will be in on a typical week, what type of boiler/CH it is.

I was told the average monthly gas/electric for an 'average' property is about £80 a month. Then you need to consider water, telephone line, internet, any TV package you want to take up. On your own, I think you could easily spend £250 a month on bills.

PasturesNew

DON'T rent with students. You are not a student, so will pick up the WHOLE council tax bill for the WHOLE house (minus the single person reduction of 25%).

The best way to find out rough rents is to look up the LHA rate for the postcode - that will show you what is a bit less than half the rents for that type of property in a given area.

As for how much you can afford - with £1800 coming in, half of that wouldn't be noticed.... except I notice you seem to be using an alien word of "taxi". Taxis are luxury items and shouldn't be part of your thinking for transport. Pay a bit more to get something that's commutable.

tiger_eyes

I rent a £400/month studio flat and utility bills (gas, electricity, water, internet, council tax) are about £150 on top, FYI. Affordable on your wage.

dotdash79

We sat down with our oldest last night and went through the cost of bills for living on your own for a flat is around £750 this is including food and all bills, if you had a car then that shoots up to about £1150 per month (mostly due to car insurance).

I think we have scared him into understanding how working hard is important.

Cycrow

dotdash79 wrote: »

We sat down with our oldest last night and went through the cost of bills for living on your own for a flat is around £750 this is including food and all bills, if you had a car then that shoots up to about £1150 per month (mostly due to car insurance).

I think we have scared him into understanding how working hard is important.

unless of course your in London, then the £750 would barely cover the rent, let alone anything else

dotdash79

Well yes, we didn't talk London as I didn't want to scare him too much

princeofpounds

A third of take-home as salary is often bandied around as the 'ideal' number but frankly it's totally unrealistic these days if you live anywhere that has a half-functioning economy.

Often 'young professionals' these days end up having to spend half or more of take-home until their salaries increase.

Physics

Most 'young professionals' in the south of England live in house-shares. A room in a house share can range from £350-£1000 a month, including all bills and depending on how many people (the more, the cheaper).

A one bedroom place with public transport links is typically over £500, plus bills. In anywhere within striking distance of London, it is closer to £750. In London, over £1000.

I'd advise Luke to find a room in a professional house share for a year (£500), spend another £500 on food, transport and enjoying himself, and another £500 a month maximising his ISA contributions.

Cisco001

Where are you?
I think you can find some professional house sharing. I personally don't think it is economical to rent 1 bed flat on your own. Go for house sharing and you should be able to save up your deposit for buying a house in couple of years (if you are not in london).

dimbo61

Check out spareroom and easyroomamte
post an advert if you want but PLEASE do not tell me you have blond hair and like the opera!!!!
Where do you want to live?
Who would you like to live with AGE, Male/female,
What you want IE En-suite bedroom, one bed flat, parking, internet, washing machine, garden etc
How much you can afford or are willing to spend each month.
How long you want a tenancy ( Student or working )
As a Landlord I do not care if you like red wine or cider
I do care if you want to smoke in MY property
I do care if you want to live like a Pig ( more cleaning and deposit deductions!!!)
Do not forget the letting agents fees