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To ask how much money you need in London.

(42 Posts)
Sarahschuster Sat 22-Feb-14 14:44:16

Thread on moving to London with a child got me thinking about a single friend who wants to move there. How much do MNetters think you need to live a reasonably comfortable life there as a single person with no dependants? My friend doesn't want to house share. Not sure what to advise her, as I used to live in London but it was a good while ago.

ImogenQuy Sat 22-Feb-14 14:46:48

A lot. Upwards of £40K to be even semi-comfortable, I think. Rents are extortionate (assuming she's not in the market to buy), even if you live a long way out and have a hideous commute.

NigellasDealer Sat 22-Feb-14 14:47:10

she would have to house share as a studio flat or bedsit would be at least 1000 a month afaik

Kikithecat Sat 22-Feb-14 14:47:49

Average rent for a one bed flat about £750 per month. Add on the rest, fares to central London maybe £200 per month etc. Quite a lot!

Kikithecat Sat 22-Feb-14 14:48:32

In the suburbs that is.

splasheeny Sat 22-Feb-14 14:49:16

A flat in London will be at least 300 per week, unless it is in a terrible area or in a really poor state. I would advise your friend not to move if she doesnt like house sharing, unless she earns very good money.

Sarahschuster Sat 22-Feb-14 14:50:04

She says she'll be on about 46K if she does decide to move...

NigellasDealer Sat 22-Feb-14 14:50:39

far suburbs kiki

ImogenQuy Sat 22-Feb-14 14:52:58

That's just about do-able if she doesn't mind having a studio or a small one-bed and she's not too fussy about the area.

Sarahschuster Sat 22-Feb-14 14:53:40

Don't think she would mind suburbs. She'll be working in Hammersmith if she takes the job, and I'm guessing that is pretty expensive, but isn't against commuting a bit.

WhereIsMyHat Sat 22-Feb-14 14:54:26

I managed as a singleton 7 years ago on £22k but I was sharing with friends and didn't live in a particularly nice area but things have changed and said area is now much more expensive. We rent out a two bedroom flat for well under market value, our tenant pays £850 pcm so there are a few gems to be found but we live in zone 5 (28 min commute though). She needs to research if it is viable before going, zoopla for rental prices, choosing an area to look at, researching commute times etc.

Sarahschuster Sat 22-Feb-14 14:55:07

Thanks very much for advice x.

wadi1983 Sat 22-Feb-14 14:55:18

London...

Roughly atleast, £1100 a month for a 1 bed flat (depending on.area obviously)

Atleast £100 a month council tax

Atleast £100 for a monthly travelcard, that's not central London though!

NynaevesSister Sat 22-Feb-14 14:57:24

Good grief she'll be fine on £46K and her own place! What are people like? What is that a month after tax, around £3K? She could easily afford a wee flat somewhere nice but still handy for Hammersmith like say Barnes or Richmond.

Floggingmolly Sat 22-Feb-14 14:57:45

She'd have to commute quite a bit from Hammersmith, I'm afraid.

Sarahschuster Sat 22-Feb-14 14:58:33

That sounds a bit more optimistic! Her take home will be around 2600 if I've calculated correctly.

Floggingmolly Sat 22-Feb-14 14:59:10

And Barnes and Richmond... Get real Nyn

Amethyst24 Sat 22-Feb-14 15:00:39

My DP and I both rent out 1-bed flats. Mine is in zone 2, his is zone 3. Both ex-LA but spacious and in good nick. Mine is £1050/month, his is £950.

So rents, while high, are not THAT extortionate.

Travel from zone 2 is c100 a month atm I think.

Council tax maybe another £100.

Other utility bills much the same as elsewhere in the country.

No need to worry about taxing, insuring and parking a car.

Going out is probs more expensive than elsewhere.

DrinkFeckArseGirls Sat 22-Feb-14 15:00:58

Barnes or Richmond? Ha ha, could you go any more expensive?

Sarahschuster Sat 22-Feb-14 15:00:59

Apparently everybody she's asked in RL has given wildly different answers, from "you'll really struggle" to "you'll be pretty comfortable if willing to commute". Tricky!

WhereIsMyHat Sat 22-Feb-14 15:02:32

She'd be fine on that in west London, chiswick is nice and an easy commute to hammer smith.

DrinkFeckArseGirls Sat 22-Feb-14 15:03:24

She'll be fine. What about Wimbledon?

Sarahschuster Sat 22-Feb-14 15:04:07

Ooh I remember really liking Wimbledon.

Sarahschuster Sat 22-Feb-14 15:07:38

Again, thanks for all thoughts/suggestions, and any more gratefully received. She's in a big fret about the decision.

Sarahschuster Sat 22-Feb-14 15:08:45

As in, really wants to take the job and move there, but is a cautious type and thinks about savings/the future/whether she'd ever be able to buy, and does enjoy some comforts although is not a massive party animal.

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