Q:Hi all
I am 25 and dying to move out of my parents' home. I feel like I am getting old and I can't believe I am still at home. I couldn't do it during uni as I didn't have enough money, and I have been working for the past 2 years but I never managed to save as much as I wanted for myself because my parents relied on me to pay off THEIR debts and mortgage. I feel trapped. I don't have friends who would be able to afford moving in with me at the moment (they're all still at home and don't mind!) so I most likely will have to rent a room somewhere.
I was made redundant from my permanent job this year as an Administrator, paying ￡23K. What salary do you think I should aim for as a minimum to be able to live out of home in London? I don't have much idea of where to look apart from gumtree. Does anyone else know any good sites or resources.
I am from a typical asian family and they seem to want me to stay at home till I am married, but I dont think I can handle having no freedom for much longer!! Need to go!
Any advice is much appreciated.. I am soon to venture out into the big wide world!
I will definitely take your advice on board.
￡20k pa should see you fine as long as you don't have too expensive tastes.
Just be weary of those who offer you a room in exchange of cash, they are obvious as the price of the room and facilities are too good to be missed.
i need to get a decent paying job first and foremost. but planning to move out pretty quickly after. parents driving me nuts.
that tax calculator is pretty scary, when you look at your take home pay it is so much less omg lol…:confused:
will keep you posted, thanks
are you still renting or have you bought now? i don't know when i'll ever be ready to get on the ladder he he.
Sounds exciting!
Well, firstly I guess the thing is if you want to live anywhere reasonably central (and I mean Zone 2/3, not Mayfair) you'll probably have to share a house with other people. This is quite scary (people do have to move because of nightmare flatmates) but on the flip side there is LOADS of potential to make some great friends.
Around ￡20,000 per year should be plenty to rent somewhere and have lots left for living costs/saving. What worked for me as a student was renting somewhere ultra cheap (I kid you not – ￡50 per week in Wood Green) and then being more relaxed about my outgoings than if I was paying, say, ￡500 per month. Play around with the tax calculator below to see what you might expect as take-home pay at different salaries. I've been told sometimes that a third of your take home pay is a good limit for the rent you pay (from personal experience NEVER go up to half of your take-home pay).
http://www.i-resign.com/uk/financialcentre/tax_calculator.asp
Gumtree is good, although bear in mind that it is very competitive in terms of there being loads of interest for each ad. If you have the 1 months deposit + 1 months rent and are ready to move immediately, this will put you in a strong position, but be prepared to be able to view rooms asap or they will go! One thing I think is also very under-rated for great bargains for rooms is good old fashioned newsagents windows….in certain areas you'll have families or little old ladies who aren't comfortable with the Internet putting rooms up at really really good rates.
Watch out for contract lengths if you are new to renting. Six months is a long time if you don't like the place for some reason; in London there is quite a good supply of places where you only need give 1 month or even 1 weeks notice so you may want to watch out for these.
Good luck and keep us posted (its scary the first step, but in a few months time you'll be absolutely delighted you made it)
xx