Would job offering £50k salary working in Manchester City Centre be ok for a single to live?

IAMIAM

With the current rental market, what are energy costs also like in apartments? 

Grumpy_chap

Well, £50k is more than most people ever earn, even in very high cost regions of the country.  

You won't be able to make £80k pension contribution though. - Sorry, irrelevant, I mixed this thread with another - sorry for confusion by referencing pension.

Savvy_Sue

Depends on the apartments. There's a conversion from an office block in my area where the tenants are finding bills very high. Purpose built to a good spec might be very cosy. I believe you should now be given information about insulation and the like - or is that only for purchasing? - and that landlords can't start new tenancies unless the property reaches a certain standard. 

MalMonroe

It's more than enough for a family of four so I think a single would be okay.

Depends what kind of apartment you're talking about. One bed, two bed, three bed? How many bathrooms? Size of rooms. Whether the apartment is an inner one or has outer walls. . . lots of thing to consider - how long each day will the apartment be occupied which will dictate how often the heating and lighting are in use, for example.

Best thing to do is use google. See if any apartments are available in the area you're interested in, where they're situated etc. and then you can see if there's any general information online. If there's a letting agent, they may be able to give you an idea of energy costs.

Very difficult to specify energy costs for individuals because everyone has different usage needs.

DullGreyGuy

MalMonroe said:

It's more than enough for a family of four so I think a single would be okay.

Explain?

Take home pay for a family on £50k gross is materially different from an individual on £50k. The cost of a place to live for a family of 4 is not necessarily four times the cost of a flat for one. 

You also always have a choice... with a major urban area you can live in the centre and have high cost of living but more free time or live far out and have much cheaper costs but higher travel time. There is always a compromise on time, cost or space.

Grumpy_chap

DullGreyGuy said:

Take home pay for a family on £50k gross is materially different from an individual on £50k. 

Not necessarily.  Two of the four might well be minors earning NIL.  One of the four might well be full-time parent.  That leaves just one of the four to earn the £50k so the take-home will be very similar to an individual, other than the child-benefit.

Dakta

Live in Leeds, work in Manchester on something not a million miles away from your quoted figures and I actually find it quite hard - admittedly I support family but as the whole income for a few of us, and with a student loan and another loan on top it is actually a squeeze even though a lot of people roll their eyes at you - if you dont have loans I'd imagine itd get more than a tad easier though.

beatthebookienet

£50k is more than most people earn but is quickly cut down by tax and even more so if you have a student loan. That salary could also be "relatively high" to offset the local accommodation/commuting costs.
Manchester city centre has above average property prices at least for the north west.
You will take home around £3k per month and expect to spend around £1k on renting + then with council tax and other bills on top you are looking at having around 50% of your pay left over which is a good foundation for a longer term plan i.e. a mortgage and retirement

So yes you will be able to survive comfortably but money doesn't go very far nowadays especially if you want a nice apartment/new car/holidays/kids/wedding

Richard1212

IAMIAM said:

With the current rental market, what are energy costs also like in apartments? 

I don't really understand your post O/P, especially with hardly any details at all except to let us know your salary level. Energy costs seem to me ( from people I know there) to be the same as any other city and simply depends on how much elec/gas you use.

It might be better to carry out your own research , perhaps specific online Manchester accommodation details; spending a few days in Manchester yourself; making phone enquiries with property agents up north etc etc.

If you want to take the job, I would imagine energy costs ( which are largely dependent on how much energy you usually use ) are the least of your list of things to think about.
Is the salary bigger than you get now, you talk of rental market--does that mean you cannot buy ? Do you live in the South of England and would rather keep friends and/or family close? What about the levels of renting/buying in areas that appeal to you? , What about crime rates in areas that you might be living in? Where are your new offices located and how near do you want to be to them ? And what is transport to and from work like? Car parking?  etc etc etc......????  

cymruchris

I'd happily and comfortably live in Manchester on a salary of £50k. It depends on your lifestyle of course. 

If you ate out 7 days a week, partied every weekend, bought a new flash car every year, maybe it wouldn't be enough.

NBLondon

Are you likely to work from home?  That will impact your energy costs - but balance against lack of commuting cost and time.