I want to live in my own place after uni Watch

Abcdefghijk123
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Hi so I am in year 13 and I really want to be able to move out into my own place pretty much straight after uni. I really don't want to still be living with my parents at like 25. Is this realistic? People keep saying 'oh young people might never move out'. But nearly all my cousins have, at a young age. Should I start saving now? I have a new savings account, there's nothing in it yet. I was thinking of putting like £50-£100 a month in there.
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zyzzyspirit
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100 quid a month - 1200 quid a year. 3-4 years of university leaves you with under 5 thousand pounds by the end of it.

Good luck affording the rent even on a small room lol.
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Ndella
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Trust me, everyone wants to move out but doing that straight after uni is near impossible. The best way to save up is to spend as little as possible (obviously), and the first place to start is to temporarily live somewhere rent free, and that's your parents' house.
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_Sinnie_
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No matter how much you save, you'll not have enough to be able to afford living alone for long and living off savings is a bad way to start things off any way.

The only thing that will enable you to move out and live alone (or in a houseshare) after uni is having a job. Then it will depend on where in the country you want to live, how much you get paid and how expensive your lifestyle is.

If your income is higher than your outgoings then you can live alone. I'd still save up as much as possible during uni, but keep that money for other things, don't slowly spend it to enable you to live away from home.
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Reue
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(Original post by Abcdefghijk123)
Hi so I am in year 13 and I really want to be able to move out into my own place pretty much straight after uni. I really don't want to still be living with my parents at like 25. Is this realistic? People keep saying 'oh young people might never move out'. But nearly all my cousins have, at a young age. Should I start saving now? I have a new savings account, there's nothing in it yet. I was thinking of putting like £50-£100 a month in there.
It's pretty easy to afford renting a place with some mates once you have a full time job, it does however make saving more difficult.
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SophieSmall
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(Original post by zyzzyspirit)
100 quid a month - 1200 quid a year. 3-4 years of university leaves you with under 5 thousand pounds by the end of it.

Good luck affording the rent even on a small room lol.

Depending on where you plan to live 5k is plenty or near enough to be feasible. Though obviosuly would need a job on top to pay for other things like bills and food when living alone.

My brother rents a 2 bedroom house by himself in an alright area on the wirral for £5500 a year.

You can easily find 1-3 bed houses and flats in liverpool for between 4-6k a year

So really not a silly idea.

At OP yes it's a good idea to start saving now. Though you'l need to save at least £100 a month, preferably more. £50 a month won't cut it. And it may be an idea to get a part time job to add to savings (+adds to your CV) both now and while at university if you can still manage your studies. Which in first year should be easy to do. You can also look into doing work for your university. My university offers £9+ per hour to work for them as a student advocate. And you completely choose your own hours, my house mate is a student advocate and made a lot of money over the summer working for the university. It also looks great on your CV. You will also need to be able to find a job to support yourself once you actually move into your own place. So it may be best to find a job first, then find a place to live.
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doodle_333
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I moved out and lived alone straight after uni and I don't have a graduate job either. It depends on your priorities, saving a bit of money could give you a headstart on a deposit for a house when you want to buy one but it won't help a massive amount with start up costs for moving out as you need to be able to afford your rent/expenses one way or the other. Obviously there are some set ups costs e.g. deposits, agency fees and possibly furnishings so yes, having a couple of thousand set aside could help with these. Like I said, it depends on your priorities, I wanted to live with my partner in a city that wasn't my parent's home city so I live away from home, we live in a fairly cheap place housing wise but we also rent a 3 bed house with a decent garden so could find somewhere smaller and cheaper! If your priority is saving to BUY a house then you should stay at home and save, if you'd prefer to pay more and live away that should be feasible too
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paul514
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(Original post by Abcdefghijk123)
Hi so I am in year 13 and I really want to be able to move out into my own place pretty much straight after uni. I really don't want to still be living with my parents at like 25. Is this realistic? People keep saying 'oh young people might never move out'. But nearly all my cousins have, at a young age. Should I start saving now? I have a new savings account, there's nothing in it yet. I was thinking of putting like £50-£100 a month in there.
5k would be fine for renting with friends and lol if you wanted to buy a house


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Tiger Rag
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I live alone and have managed to live fairly cheaply. But I do live in a council flat. I also don't, unlike most people, drink or go out of an evening.

You need to consider things like needing a deposit + possibly a months rent up front and money to buy things. We worked out that it cost me around £1300 to move out. And that was even with taking a few of my own things.
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cocre
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Why the rush? I graduated Uni when I was 24, I'm now 25 working full-time and living with my parents. My girlfriend is living with her parents and we're both saving for a mortgage. You have to be sensible as you certainly won't be able to afford a deposit by saving £100 a month, especially when going to Uni that kills your money.
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Tiger Rag
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If this was me, I'd save money for uni, move home after uni, work and save enough money to then move out.
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Rakas21
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(Original post by Abcdefghijk123)
Hi so I am in year 13 and I really want to be able to move out into my own place pretty much straight after uni. I really don't want to still be living with my parents at like 25. Is this realistic? People keep saying 'oh young people might never move out'. But nearly all my cousins have, at a young age. Should I start saving now? I have a new savings account, there's nothing in it yet. I was thinking of putting like £50-£100 a month in there.
The key thing is having a job and money for the deposit. If you have those, then yes you can.
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scorpiorules
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If you want to buy not rent then open a Help to Buy ISA - the govt top it up when you buy
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