Independent living is a new lifestyle in which challenges are included. There are many difficulties you might be facing such as the location, rentals, bills, looking for a renting place, household chores, etc. Although there are difficulties, they will not hinder a person for an independent lifestyle. You can find a lot of rooms for rent in London and the prices are different.
There are many factors which are affecting the room rates in London. Such factors include the cost of living, space, type of room, location, etc. Here are some figures to help you do the math:
- One Bedroom Flat (1 month rental) starts as low as £720. Price ranges from £720 to £840 in South London. North London varies from £750 to £900. West London varies from £850 to £960. East London has the highest cost of monthly rental which ranges from £900 to £1000.
- Flat-Share (1 month rental) is as low as £350 for single and £450 for double. In South London, rentals start from £450 to £600 for single and from £450 to £800 for double. North London rates are from £350 to £500 for single and £500 to £700 for double. For West London, the range starts at £350 to £430 for single and £450 to £690 for double. On the East London, the price is from £350 to £450 for single and £550 to £720 for double.
Aside from the monthly rental, there are also some costs you should consider. Usually, there is a rental bond and at least 1 month advance to pay with. Some room rentals have inclusive packages such as free internet connection and utilities. If your room doesn’t include such things, you need to add it to your monthly budget. Food is a great factor too for your additional expenses. Budget your daily meal, plan ahead of time and avoid take-out foods to save money. Cook your own food if you can.
If you are going out most of the time for school, work, or other activities then you should check room rentals near your work or school. In this way, you can save a lot of money and time. Living in London is a little expensive, especially if you want independence. But, you will have a fulfillment once you settled down on your own.
There are tons of ways to have a frugal living. Room rental is just a small part of your expenses. You need to project your budget in the long run. If you are already working, check if your salary can sustain if you rent on your own. Or have an option of instead of renting an expensive one bedroom flat, check if you can have a companion to rent on a flat-share. You can also check some websites to see the available room for rent. Compare the prices so you can get the best value out of your money. You can also check the reviews online and the cost of living in the place you want to rent.