London is known as one of the most interesting, exciting and historical cities in the world. However, it is also one of the most expensive. If you are a student, in your first job or working your way up the ladder, you might struggle to afford basic rent in London. But you do have options. Flat sharing might be right up your street (so to speak!).
London Assembly states that a simple one bedroom flat or house in London can cost anything from £775 to £2,155 per month. The closer you choose to live to where the action is (bars, restaurants, shopping, theatres), the more expensive it will be. If you want some outdoor space, you can expect to have to pay even more. There seems to be a premium on having fun in London, but there are ways to get around this.
Flat sharing is the perfect way to reduce this huge cost and give you back some of your monthly pay to spend on much better things.
What is a flat share?
A flat share is simply a home where you can rent a room and have access to communal spaces such as the kitchen, bathrooms and a living area. Because the cost of the rent is split across all occupants it works out much cheaper and you can even afford a little bit of luxury. According to the property magazine Home & Property, the average room rent in central London is around £750 – and you get a lot for your money.
The benefits of flat sharing
- It is much (much!) cheaper. Not only is your rent split, but the bills and even food costs can be spread across everyone in the house.
- You get to hang out with like-minded people. Everyone is there for the same reason – to work, have fun and enjoy London life. You have a ready-made social life.
- You will be able to enjoy a level of luxury and location that you may not have had access to. This can mean an ensuite, a garden or balcony, a large kitchen with all of the mod-cons.
- Your travel costs can be reduced. Travel in London is fast and easy, but it can add to your monthly costs. So, the closer you can get to the centre of the city (and your workplace) the cheaper that will be.
- Flatshare houses are often more flexible. You can stay for shorter periods of time (maybe just term time) and may not be locked into a long 12-month rental.
- You can share the burden of keeping your home clean and tidy (or share the cost of a cleaner, if that gives makes shudder!).
London life doesn’t have to mean living in a grotty bedsit (although the struggling musician in you might find this appealing!). You can have a decent home for an affordable price. Like-Minded Living offers a range of flatshare options. Get in touch to find out more.