Paying £1650 in rent to live alone - Am I mad?

[SaharaLeila]

Hi all, long-term user here but serial namechanger as I am terrified of people recognizing me 

I have been living with flatmates in Central London for the last 8 years. I am now 29 yo and I am so sick of it. I crave my own space, I hate being disturbed by my flatmates' noise and I hate worrying about disturbing them with my own. I need to move out. Unfortunately I am not in the position to buy at the moment, so renting it is.

I have found the perfect little apartment, 15 mins by bus from my office. It is a one bedroom flat with huge windows and a small private backyard. It looks absolutely lovely and I know I would just love living there.

The only problem is that rent is £1650 a month 

I think I could technically afford it, but it feels like an obscene amount of money to pay in rent? Am I mad for even considering it? Would you pay that amount of money in rent just for the sake of living on your own?

So, it's not for more than a couple of years and you are unlikely ever to want to buy in the UK.
Don't hang about go and get it.
What is the point of having a well paid career only to live in squalor (which is what I imagine a flat share is).

Look at it another way. You could live miles from work, pay a bit less rent and pay a fortune to commute.

Do it. You'll love it and flat shares are gross. You'll still have more money left over than I earn in a month anyway.

Given what you earn and that you will only live in London a couple of years, you should absolutely do it.

Even without your gruelling hours, you certainly shouldn't waste your brief time in one of the world's greatest cities living out in the suburbs!

If it’s any consolation, similar figures, I’m not London and whilst my mortgage is less, with childcare it’s total more, and it’s manageable. I’d totally do it. At 29 you’re working too hard and too old to tolerate other people
Or would a serviced apartment be an option- you’re hardly there, so somewhere where there is more done for you so your time is truely your own??

And also - presume work will foot overseas living allowance anyway as both Zurich and HK expensive to rent, so amortised across its a sound investment for your short term sanity!!

You can sometimes negotiate on price with rentals - I did & they knocked off £100 a month
Sounds like you earn a good salary!
Go for it

If you can afford it and you know you'd love living there then you should go for it. I did the same before I settled down. And if it's central London then the rent really isn't too bad.

Do it, even with utilities it would be less than half of your salary.

What do you pay for your current situation? How much of a jump is the cost to you? Apologies if this has been asked before, I've skim read the thread...

@SaharaLeila Then go for it.

The only thing I'd say is make sure is that for all the hard graft you are putting in, you will get something for it in the end career wise.

Good luck.

OP go for it!

I pay £1500 for a 2 bed house on the border of zone 2/3 - but I need 2 bedrooms for me and DD. I earn similar to you and it's fine financially. I realised a while ago that in London you have to pay these prices (just don't imagine what you could rent for the same money elsewhere). You do get other benefits for living in a great city and that comes at a price.

Yes you definitely should!! I paid £950 rent and bills in London on a £24.5k salary, and was fine.

If it’s not going to leave you short and you can still go out for dinner, have fun mwmbership, go on holiday, save etc then go for it.

Ok I went for it! Just called the agent, confirmed I want the place and paid the deposit.

I have a flat 😍

Thank you all for your kind posts!!

Fantastic. I'm excited for you. Hope you love it. :)

How exciting. I picture you sitting in your courtyard with your morning coffee before heading into work. Enjoy!

Enjoy! You made the right decision. Life really is too short not to seize the things that you know will make you a happier, calmer person. You can afford it and you’ll have a lovely short commute back to YOUR OWN SPACE! Bliss. Congrats!

Yay! Well done OP. Enjoy the peace and quiet!

I was about to say "yes, you're mad" but then I saw what you earn. You are a very high earner so it's not so much of a proportion of your wage so I don't think it's too bad.

out of interest, what do you do?

💐 🍾

God prices in London are obscene, aren't they

However as far as disposable income goes, if you can afford it then I'd do it. If it's only 15 mins from work then you'll be saving (presumably) on commuting costs too. Plus if you're likely to move in a couple of years there is no point buying somewhere, even if you could afford to.

It's your money - and your life.

out of interest, what do you do?

Thatmust I work as project manager in marketing for a big corporation.

Yay!

Well done OP!