Q:Ok, so I am early twenties, ready to move out (well preparing to) and very worried that I am going to get it all wrong.
My partner and I are not ready to even consider getting onto the housing ladder but want to move out and have a bit of independence and a bit of privacy. We are looking to rent in south east london, around zone 4.
Looking at prices, for a 1 or 2 bed flat, we are looking at around £650+ a month not including bills…
As far as I know, when you rent, you can not amend anything in the property without the owners consent (such as decorating etc..) is this correct?
Also, what should we be aware of? Any tips / advice people can give?
Can people give me some advice on what they reckon we can afford. Our joint salary is £45K pa. We dont want to go over budget and realise a few months down the line that we are out of our depth!
Many Thanks!
:
Make sure you include those indulgences that you may be intending to reduce (shopping, nights out, meals etc), its always best to allow too much money then to end up short. I forgot to allow cash for my partners cigarettes….￡100 a month is alot when your on a tight budget lol!! Am still trying to get rid of this cost all together but:-) Also forgot sky and to put abit aside monthly to cover cars mot, tax etc.
Ask around your friends if they know anyone who is renting somewhere out, sounds obvious but i didnt think of that at first:-) Good luck!!
Definitely…my problem is trying to understand what we can afford.
Ask around your friends if they know anyone who is renting somewhere out, sounds obvious but i didnt think of that at first:-) Good luck!!
My partner and I are not ready to even consider getting onto the housing ladder but want to move out and have a bit of independence and a bit of privacy. We are looking to rent in south east london, around zone 4.
Looking at prices, for a 1 or 2 bed flat, we are looking at around ￡650+ a month not including bills…
As far as I know, when you rent, you can not amend anything in the property without the owners consent (such as decorating etc..) is this correct?
Also, what should we be aware of? Any tips / advice people can give?
Can people give me some advice on what they reckon we can afford. Our joint salary is ￡45K pa. We dont want to go over budget and realise a few months down the line that we are out of our depth!
Many Thanks!
:
Anyone else offer help? Focusing on cost?
I don't think the prices you mention are unreasonable for the properties and area you describe, and between two of you it will be easier than if you were on your own.
Bear in mind things like is your water ona meter or on rates as it's likely to be cheaper for you if you have a meter and are able to make conscious efforts to save water, such as turning the tap off when brushing your teeth, using 'Save a Flush' bags to cut down on the amouth of water on each flush and using a bowl for your washing up instead of the running tap etc etc.
Ask your landlord (or even the agent beforehand) about gas and electricty suppliers and if the landlord doesn't mind you switching then investigate the cheapest supplier for you – I think martin recommends not switching until the price rises have been implemented but keep an eye on it and it could save you some money (doing this through QuidCo can also get you some hefty cashback).
Most important, although the landlord should have insurance on the property don't forget to insure your possessions with contents insurance as you are responsible for this if the property is unfurnished. Use a comparison site to get the cheapest price – ours is only ￡50 per year and insures us for way more than the value of our contents. It may seem like a lot of money to pay out initially, but it is well worth the peace of mind!
Good luck with it anyway!
You don't have to have a 1-bed or 2-bed.
You could try one year in a studio apartment first.
Get used to paying out the rent and the bills.
Then get somewhere a bit bigger after a year.
The savings you'd make (rent, council tax) would probably be ￡200/month, so if you put this much into savings each month, you'd have ￡2000-2500 in that first year, meaning you'd have tried living together, getting used to the bills AND you'd have saved the deposit etc needed on a bigger place.
For bills, think in terms of ￡200-250/month and put this much into a separate account until you've got the hang of how much things cost.
What guy said.
If you don't know the area you're looking to rent, have a good look round, preferably including a night-time visit to see what it's like.
Most of the time, if you are straight with the landlord they will be straight with you, but be aware that there are more dodgy landlords around than ever, so do everything by the book and come back here for advice on any problems.
And good luck, exciting to be out on your own. hope it goes well for you.
My partner and I are not ready to even consider getting onto the housing ladder but want to move out and have a bit of independence and a bit of privacy. We are looking to rent in south east london, around zone 4.
Looking at prices, for a 1 or 2 bed flat, we are looking at around ￡650+ a month not including bills…
As far as I know, when you rent, you can not amend anything in the property without the owners consent (such as decorating etc..) is this correct?
Also, what should we be aware of? Any tips / advice people can give?
Many Thanks!
:
Anyone else??????????
It's always wise to rent together before buying together!!
You're not usually allowed to make any modifications to a property without the landlord's consent, although if you're doing something to improve it, or promise you'll paint it back when you leave, then they might not mind. picture hooks are usually ok (although perhaps take them out and fill them in when you leave!).
(otherwise you risk loosing a large chunk of your deposit just for the landlord to put it back how it was!)
If you rent through an estate agent, be prepared for administration charges.
If you rent privately, make sure the LL gives you the correct paperwork (contract, inventory etc…)
Make sure you agree the inventory and condition of the property with the landlord. Perhaps take photos as evidence.
Read the gas/electricity meter when you move in.
This may sound alot, but should you ever have a problem, you should have everything you need to sort it!