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How much rent can I reasonably afford? (post-graduation!) watch

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    Helloooo,about to leave university with a graduate job but I have to move for it! I'll give as much financial detail as possible, as a student I've just managed with wherever my friend's wanted to live, but now I need to make the decision for myself!

    So my current rent is £3000 a year, which is very cheap and it's a lovely house. I live off of about 10k a year, which is reasonable. I have a car, I don't pay insurance, I only pay for fuel and there's no monthly outgoings on that except tyres/oil/maintence stuff.In July I will start a job for 21k a year, approx 17.5k after tax. For a year, how much is reasonable to live off of per week?

    I'm getting upset looking at houses for £60-80pw which is what I wanted to pay and they're horrible, whereas houses that are £100+ are absolutely beautiful and I just don't know how much money is reasonable for a working adult to live off of, as as a student I have always just sort of gone along with whatever and had super stingy months and normal months.

    Sorry it's a bit jumbled, I just had another house hunting session and I'm getting really, really stressed out! Any help at all would be appreciated.
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    (Original post by Liz94)
    Helloooo,about to leave university with a graduate job but I have to move for it! I'll give as much financial detail as possible, as a student I've just managed with wherever my friend's wanted to live, but now I need to make the decision for myself!

    So my current rent is £3000 a year, which is very cheap and it's a lovely house. I live off of about 10k a year, which is reasonable. I have a car, I don't pay insurance, I only pay for fuel and there's no monthly outgoings on that except tyres/oil/maintence stuff.In July I will start a job for 21k a year, approx 17.5k after tax. For a year, how much is reasonable to live off of per week?

    I'm getting upset looking at houses for £60-80pw which is what I wanted to pay and they're horrible, whereas houses that are £100+ are absolutely beautiful and I just don't know how much money is reasonable for a working adult to live off of, as as a student I have always just sort of gone along with whatever and had super stingy months and normal months.

    Sorry it's a bit jumbled, I just had another house hunting session and I'm getting really, really stressed out! Any help at all would be appreciated.
    where are you going to be working (city / town)?

    Also, assuming you have student loans to repay too?
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    (Original post by Liz94)
    x.
    Your monthly net pay will be about £1450.

    Deduct from that your regular outgoing expenses and say £200 for food plus money for bills based on:

    Council tax - £120
    Water- £25
    Elec- £40
    Gas - £30
    Insurance - £10

    And youve got how much spare for rent. All figures based on not sharing. Obviously split the bills if you're going to be sharing.
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    (Original post by Death Grips)
    where are you going to be working (city / town)?

    Also, assuming you have student loans to repay too?
    Working in Darlington, and student loans will be something like £7 a month for the first year, and it comes out before tax so I'm not even considering it at the moment
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    (Original post by Reue)
    Your monthly net pay will be about £1450.

    Deduct from that your regular outgoing expenses and say £200 for food plus money for bills based on:

    Council tax - £120
    Water- £25
    Elec- £40
    Gas - £30
    Insurance - £10

    And youve got how much spare for rent. All figures based on not sharing. Obviously split the bills if you're going to be sharing.
    Hiya, All of those things will be included in my rent as I'll only move into somewhere that has all bills included! (most places I've been looking at) as I definitely need to share somewhere
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    (Original post by Liz94)
    Working in Darlington, and student loans will be something like £7 a month for the first year, and it comes out before tax so I'm not even considering it at the moment
    £7 a week, not £7 a month.

    On the rent front, which website/mediums are you using to look for places? Because it might just be you're not looking in enough places / hard enough which is why you havent found anything suitable yet
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    (Original post by Death Grips)
    £7 a week, not £7 a month.

    On the rent front, which website/mediums are you using to look for places? Because it might just be you're not looking in enough places / hard enough which is why you havent found anything suitable yet
    It's definitely £7 a month!

    I'm looking absolutely loads, I just don't know what a reasonable amount to live off is! I worked out I have £330ish a week to do everything with, and I don't know how much I'll need spare from that amount to live off of, after rent. So say my rent is £100pw, that leaves me with £230 a week, is this reasonable for food/travel/entertainment/phone contract etc. That's more my question!
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    (Original post by Liz94)
    It's definitely £7 a month!

    I'm looking absolutely loads, I just don't know what a reasonable amount to live off is! I worked out I have £330ish a week to do everything with, and I don't know how much I'll need spare from that amount to live off of, after rent. So say my rent is £100pw, that leaves me with £230 a week, is this reasonable for food/travel/entertainment/phone contract etc. That's more my question!
    you're right on the student loan thing. I was looking at the law pre-2012.

    For food/travel/entertainment/phone £230/week should be more than enough yes. What you'll need to watch is non-essential spending, like clothes shopping and stuff like that.
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    (Original post by Death Grips)
    you're right on the student loan thing. I was looking at the law pre-2012.

    For food/travel/entertainment/phone £230/week should be more than enough yes. What you'll need to watch is non-essential spending, like clothes shopping and stuff like that.
    Yeah I was looking at that one for a while too!

    I hope so, because I think my rent is going to end up being closer to £100 a week than my current £60pw which is really crappy haha. Wish I could stay at home
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    (Original post by Liz94)
    Yeah I was looking at that one for a while too!

    I hope so, because I think my rent is going to end up being closer to £100 a week than my current £60pw which is really crappy haha. Wish I could stay at home
    You can get by in London on 21k just supporting yourself, so should def be fine in Durham.
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    (Original post by Liz94)
    Helloooo,about to leave university with a graduate job but I have to move for it! I'll give as much financial detail as possible, as a student I've just managed with wherever my friend's wanted to live, but now I need to make the decision for myself!

    So my current rent is £3000 a year, which is very cheap and it's a lovely house. I live off of about 10k a year, which is reasonable. I have a car, I don't pay insurance, I only pay for fuel and there's no monthly outgoings on that except tyres/oil/maintence stuff.In July I will start a job for 21k a year, approx 17.5k after tax. For a year, how much is reasonable to live off of per week?

    I'm getting upset looking at houses for £60-80pw which is what I wanted to pay and they're horrible, whereas houses that are £100+ are absolutely beautiful and I just don't know how much money is reasonable for a working adult to live off of, as as a student I have always just sort of gone along with whatever and had super stingy months and normal months.

    Sorry it's a bit jumbled, I just had another house hunting session and I'm getting really, really stressed out! Any help at all would be appreciated.
    I'm on a little bit more than you, £22k, but I live alone so much rent is much more!

    I easily live on that much whilst also being able to put some money in savings each month.

    On average, including everything, I spend £1k a month. However, I do live right in the centre so don't spend any money on transport at all, I just walk everywhere.
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    (Original post by SerotoninAddict)
    I'm on a little bit more than you, £22k, but I live alone so much rent is much more!

    I easily live on that much whilst also being able to put some money in savings each month.

    On average, including everything, I spend £1k a month. However, I do live right in the centre so don't spend any money on transport at all, I just walk everywhere.
    That sounds ok Hopefully my transport will be minimal, can hopefully get somewhere within walking distance of my workplace and keep my car for weekends/shopping etc
 
 
 
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