How much would you spend on rent?

allthatyouwant · 03/07/14 - 19:48

If you earned £1300 a month? Looking for places to rent is ridiculous, everywhere is so expensive. I live in York and a studio apartment with a shared bathroom is £500 a month.

Do I have high expectations or is this the norm?

So how much would you spend on rent for a 1 bed flat if you earned the above amount?

Thanks in advance and rant over!

[Deleted User] · 03/07/14 - 19:50

If I didn't drive and didn't have many outgoings I'd spend about £550-600 on rent if I earned that.

Mustabuster · 03/07/14 - 19:51

Well it's less than half so it's doable I guess depending on your other outgoings.

It's not a question of how much would you pay but can you afford the asking rate? If not you house share, look for somewhere cheaper or stay with parents.

Rachael. · 03/07/14 - 19:56

I've rented 3 houses since I left home and all have been £450. First was a 3 bed the other two 2 beds.

allthatyouwant · 03/07/14 - 19:58

Rachael. wrote: »

I've rented 3 houses since I left home and all have been £450. First was a 3 bed the other two 2 beds.

I lived in Sheffield last year and a 2 bed flat was £600, not much more than a tiny studio in York - it's frustrating!

Bex_123 · 03/07/14 - 20:00

allthatyouwant wrote: »

I lived in Sheffield last year and a 2 bed flat was £600, not much more than a tiny studio in York - it's frustrating!

I understand, I am about to pay £400 a month plus bills for a room in a shared house. I have friends who rent a decent two bedroom flat for that, elsewhere.

SULLA · 03/07/14 - 20:12

£28 a year ground rent.

Polomini · 03/07/14 - 20:12

My son's at university in London and has just moved into a shared house (they were in halls of residence last year) with four others. Their rent is £1000 a month EACH. Admittedly it's central London, but apparently it's not much cheaper further out, and then there's travel on top. At least they're walking distance of most places, but I was shocked at how expensive it was. He's found himself a job, but even so, he's going to be learning a lot about managing his money.

andersonsonson · 03/07/14 - 20:26

0 but I would put £600 into a mortgage each month as you will get the money back

Vast_Girth · 03/07/14 - 20:37

I'd look into a house-share if i were you OP

Cg_Evans · 03/07/14 - 20:44

Some of these rents are the equivalent of paying a monthly mortgage...if you can hussle up a deposit then its mad not to get one...you cant lose..property is not depreciating and if the worst happens you can always sell the house and probably make a small profit and go back to renting

rent money is always down the drain compared...the freedom is great, was great, but rents are pathetic now

my next door neighbour rents his terraced house out to students...charges them 1600 a month....i hate his fkn guts as its not worth that much and hes skinning them....then again living on a campus is not cheap either,they fleece you too

Apple22over7 · 03/07/14 - 21:16

I earn about the same OP and I pay just shy of £400 for a 1-bed flat. When I was flat-hunting, I was looking at places up to £500pcm, which included 2-bed flats and even some 2-bed houses. This is in Nottingham though, not York, so prices will be different. Even so, £500pcm for a studio with a shared bathroom sounds like a lot to me. Can you look further out of the city centre and/or not-so-nice areas to find something cheaper/better?

Rachael. · 03/07/14 - 21:55

allthatyouwant wrote: »

I lived in Sheffield last year and a 2 bed flat was £600, not much more than a tiny studio in York - it's frustrating!

Wow

Where I'm from £600 would get you a decent 3 bed semi/detached in a nice area.

Jay Bigz · 03/07/14 - 22:41

The very cheapest one bedroom property to rent here, is £550 p/m and it's not in the nicest area either and is very basic. If you want an apartment they start at £750 p/m....

Rent just seems so high today if you only have a modest salary. I'm only on 21k, which is roughly £1,400 per month after tax, and my rent is £310 a month (including all bills) in a shared house, and I still struggle to get through the month sometimes, with all my other costs, such as food, transport, a little bit of entertainment, and smoking.

PrincessTT · 03/07/14 - 23:02

The last place I was private renting was a 2 bedroom flat and the rent was £1250 a month.

I'm in temporary council housing at the moment but it's a 2 bedroom flat that the council are renting from a private landlord and they're paying him £345 a week for it.

Bex_123 · 03/07/14 - 23:05

Rachael. wrote: »

Wow Where I'm from £600 would get you a decent 3 bed semi/detached in a nice area.

That would just about get you a one bedroom flat here. And I don't consider it overly expensive here, not compared to London and such.

The cost of renting is truly scary. It's all well and good people saying get a mortgage and 'don't waste money' renting but how many people can save for a deposit when paying out that kind of rent? Not everyone has the luxury of being able to stay with family while they save, either.

Rachael. · 03/07/14 - 23:09

Bex - That's awful. I didn't realise how muxh more expensive it was in different parts of the country. No wonder so many people are struggling and relying on food banks

.

[Deleted User] · 03/07/14 - 23:57

Really does depend on location. I'm living in a tiny village outside York and paying 575 a month for a 3 bed house. Have to commute further to work but for me personally I'd rather get more for my money.

TWS · 04/07/14 - 00:04

In our area you're looking about £500 for a one bed house bit less for a flat or apartment

Fizix · 04/07/14 - 01:08

Average rent here for a regular family home (so 3 bedroom semi/detached) is somewhere in the region of £600-800 per month. So I guess that; it seems a lot though considering its basically a monthly mortgage payment. I don't think I would rent a 'good' property; say £1,000/month or whatever; at that point you may as well be buying a bloody place.

s2k · 04/07/14 - 08:57

I earn slightly over that and pay £525 rent for a modern 1 bed apartment in a pretty decent area. Its normally fine but I do have to keep a watch on the disposable income as there isn't that much of it once all the bills are paid.

Occasionally you get the odd crappy month like June where I had car insurance, MOT, servicing and a trip to the dentist. The overdraft comes in handy in these situations but I certainly would look elsewhere if I didn't feel it was under control. I also have some decent savings which I could call upon in emergencies.

[Deleted User] · 04/07/14 - 08:58

If I were taking home £1300 a month I probably wouldn't spend more than £500 on rent. Things would definitely be tight.

stoatie · 04/07/14 - 09:26

Mine's 900, and that's cheap for round here. I'm working full-time but still need to claim HB to cover it (my wages clock in at about 15 quid more than my rent). The only good point is that I can walk to work, so I save on travel- problem with that is that if I moved somewhere cheaper I'd end up worse off as a result. Prices round here are RIDICULOUS.

DianaFire · 04/07/14 - 09:56

My rent's £1300 in a cheap bit of NW6. When I was full-time that was just over half my takehome - if moving weren't such a faff I'd have gone further out as I don't believe in paying over half my salary in rent unless there's a good reason.

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