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  • FIRST POST
    • missymerlot
    • By missymerlot 13th May 18, 2:26 PM
    • 1Posts
    • 0Thanks
    missymerlot
    First time wannabe renter
    • #1
    • 13th May 18, 2:26 PM
    First time wannabe renter 13th May 18 at 2:26 PM
    Iím a 23 year old female, and I get 1200 a month. Iím currently living with mum paying £280 rent, Iím getting very frustrated living at home and having a very desirable feeling for wanting to fly the nest. My questions are;

    Would I be able to afford to rent?
    Would I be eligible for rent allowance?
    Whatís the total cost of renting?
    How much would you reccoment saving before renting? Deposit wise
Page 1
    • bouicca21
    • By bouicca21 13th May 18, 2:36 PM
    • 3,721 Posts
    • 5,672 Thanks
    bouicca21
    • #2
    • 13th May 18, 2:36 PM
    • #2
    • 13th May 18, 2:36 PM
    Where do you want to rent? Do you want a place to yourself or Some kind of share?

    Down my way (London) you could pay your entire monthly salary or more to get a decent place. If you're in flat cap and whippet land it will be different. Have you thought about council tax, utilities and the cost of food ? £280 sounds like a really good deal!
    • HampshireH
    • By HampshireH 13th May 18, 2:44 PM
    • 756 Posts
    • 813 Thanks
    HampshireH
    • #3
    • 13th May 18, 2:44 PM
    • #3
    • 13th May 18, 2:44 PM
    If your mum doesn't mind you living there I would stay for as long as you can and save

    If I could go back in time I would do this. Get a good chunk of money behind you 1st.

    That said if you already have a good amount of savings check out rightmove or zoopla etc they will answer all yours questions on how much rent in your desired area is. Usually have EPC and council tax band so you can also gauge some costs and efficiency
    • need an answer
    • By need an answer 13th May 18, 4:43 PM
    • 775 Posts
    • 925 Thanks
    need an answer
    • #4
    • 13th May 18, 4:43 PM
    • #4
    • 13th May 18, 4:43 PM
    How much are the rental prices in the area that you are looking to rent,That would give you an idea of if you could afford to rent.

    The cost of renting assuming you were not going into a shared house where bills are either included or split between you and the other renters would be council tax,broadband packages gas/electricity/water.
    With council tax if you lived alone you may be able to claim a percentage reduction of possibly 25% but you need to check with the specific council as discounts vary from area to area.

    Deposits are set by the LL/LA and again vary in amounts you will need a minimum of one months rent in addition to your first month and some ask for higher deposits in the region of 6-8 weeks. Again check this when you make an enquiry regarding the properties.

    Some letting agents will also request fees for credit checking and referencing again these vary but should be available for you to find out if you ask.

    It is possible that you may require a guarantor again fees may be payable to set this up but generally a guarantor needs to be in employment and a homeowner in order to underwrite your rent.

    On top of the expenses directly associated with the property you will have food and any general living expenses.

    If you have never lived away from home previously then I would suggest you look at houseshares they are more sociable and usually much less expensive than living on your own.

    Whilst you have been living at home have you managed to make regular savings from your salary?
    If you have then hopefully you are in a better position to move out,if not then you need to question with yourself where a large amount of money is going each month and decide if you are able to give up a lifestyle that you currently have to enter the world of renting.

    Young adults don't always get on with their parents but sometimes its a good opportunity to live somewhere that's comparatively cheap whilst you save for your next move
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