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AIBU?

Share your dilemmas and get honest opinions from other Mumsnetters.

Original poster

To spend half of my wages on rent? Silly idea?

63 replies

singlesoda · 29/01/2018 13:21

I graduated uni last year and finally secured myself a full time salary. My mum is driving me insane and I can't imagine living here any longer than I need to.

I've been looking at getting a room in a shared house of other young professionals but that's easily £600pcm with bills.

But i've just seen a flat that i've fallen in love and it's not much more than renting a room. But it's half my monthly wages without bills. Am I insane to even consider this?

I could stay at home but i'm gay and I have Christian parents. I'm bored playing the straight girl and being lectured on the daily about my life decisions.

p.s I'm extremely privileged that I won't have to save for deposit (to buy a house) as I inherited a small percentage of a house but unable to access it for a couple of years. Right now I want somewhere to live that isn't a dive, be able to eat food and still have some form of a social life.

OP posts:
GlitterUnicornsAndAllThatJazz · 29/01/2018 13:22

Do it

ADayAlwaysHasToEnd · 29/01/2018 13:23

With you not having to save for a deposit I would say do it. Living at home is hindering you living your life, it is a big expense but your gaining a lot from it

PinkHeart5914 · 29/01/2018 13:24

The rent for the whole flat won’t include bills so once you’ve added in Council tax, water, gas, electric it will be more than half your wage. Yes it would be daft

Original poster
Singlesoda · 29/01/2018 13:24

Love that answer unicorns

Also thinking of putting a sofa bed in the living room (seems strange to say living room after looking at bedsits!) so I can get some money back from AirBnb.

OP posts:
Batmanwearspants · 29/01/2018 13:26

Usually landlords will want proof of icnomce (ime) and won't accept anything over a third of your income.

PinkHeart5914 · 29/01/2018 13:26

If the flat is rented you don’t own the place so you want to let out the landlords house to air b&b?

RapunzelsExtensions · 29/01/2018 13:27

More than half your wages on rent? Welcome to the real world.

harlaandgoddard · 29/01/2018 13:27

How much would you have left after everything? Gas, electric, water, internet, phone, council tax, travel costs, food etc.

Josefine59 · 29/01/2018 13:27

Sorry I do think that's daft.
Once you add on council tax of at least £80 (even with singles discount IME) gas and electric, water, tv license and basic internet you'd probably have £150 a month left for any clothes,
Treats, commuting, tv package, mobile etc not to mention food.
Sorry but I really wouldn't (I struggled some months as a single earning £1000 a month paying only £310 rent per month, maybe that colours my view).

PramWanker · 29/01/2018 13:27

Seems like a daft idea to me, especially as it would still be sensible to save more so that when you do buy you have a bigger deposit. However I suppose the question is, do you value the extra few hundred a month more or less than you'd value not having housemates?

specialsubject · 29/01/2018 13:27

No decent landlord will take you because that isn't affordable.

Move out, yes,but find somewhere you can afford.

RapunzelsExtensions · 29/01/2018 13:29

@batmanwearspants not true, never has been for me.

I earn around 1000 a month. My rent last year was 650. And then I had to pay bills, phone, food, travel before any leisure things. If having your own space means you sacrifice financial freedom, do it.

RedSuitcase · 29/01/2018 13:29

Not a good idea, get a room share until you've worked your way up to a higher salary. Half your salary not including bills? Add another £200-£300 on top for bills, not including food. Things will get tight fast

etap · 29/01/2018 13:32

Wish I only paid half Grin

RavenclawRealist · 29/01/2018 13:36

I would go on the side of half your salary being too much! And yes the air bnb idea is probably against the contract near me all landlords have a clause against it.

DerelictWreck · 29/01/2018 13:36

I did it.

When I first moved to London I earned 1600 after tax and paid out 1000 on rent (bills included). Still managed to save a hundred or so each month too!

Sit down and work out all your costs, and then you'll know if its feasible. If it's tight, its up to you to decided if it'll be worth it or not. Good luck!

HRHRoyalGala · 29/01/2018 13:38

To all the people saying do it, how was that even allowed by the letting agents? Did you have guarantors?

Where I live, you have to earn 2.5-3 times the annual rent, or have a guarantor, for it to be deemed affordable.

HRHRoyalGala · 29/01/2018 13:43

So (unless you have a guarantor) you might find you can’t rent it anyway, OP

RedSuitcase · 29/01/2018 13:43

This depends on how high your salary is though. If you only earn 1000 and you are paying 500 rent, bills are going to be a min of 200,plus another 200 for food which only leaves 100 for rent.

If you're earning 2000 things are dramatically different. Rent will be higher, but bills and living costs will not be proportionately higher. Eg. Rent will be 1000 but bills likely only 350, food still 200 leaving you with 450 a month left over.

Working out your rent based on a percentage just doesn't work.

You need to first work out how much you'll spend on food and essentials, how much do you have left after that? For rent and bills? Then knock of another 100 for emergencies.

Eg. You earn 1200. 200 a month on food. 100 on car costs. 100 broadband/mobile phone. That leaves you with 800 - then halve THAT number.

BecomingAdultly · 29/01/2018 13:48

If someone wouldn't mind helping me work out how much bills would cost-
Rent- £695
£80 a month on electric and gas? (Only lived in a shared uni house before, i'm used to being cold and i'll be out most of the time).
£90 - Council Tax - Band A.
£32 - mobile contract.
£24 - internet.
I never missed having a tv at uni, so no need for sky/tv licence.
My company pays me £200 a month towards my car plus millage so I don't have to worry about travel.

£921 total. Still gives me well over £400 a month to play with.

I can't remember how much I lived on at uni but it was a lot less than that, and I was still able to party, eat well and I was clothed (most of the time!)

BecomingAdultly · 29/01/2018 13:51

Forgot water- online it says £20pm, can't for the life of me remember how much we paid at uni.

Still gives me well over £450 a month to live on. I'll be working 6 days a week so not a lot of time to play.

BecomingAdultly · 29/01/2018 13:53

At uni my Godfather was my guarantor. My mum flat out refused as she didn't want me living away. He's self employed, doesn't work that much anymore but has a fair amount of savings.

FridgeCut · 29/01/2018 13:54

So then you need to save for

  • holidays
-gifts -clothes -medical and dental -contents insurance
  • car bills above what is covered by the £200 a month (will depend on what tax / mot / insurance / tyres cost on your car, cost it out)
-food -going out -water bill? £30ish a month

You will need to think of these things, you cannot just say you aren't going to buy clothes, you will need tights / knickers / shoes sometimes at least. You will randomly get sick or go to the dentist and spend money.

Food £30 a week? so £280 on everything else.

Justabadwife · 29/01/2018 13:55

@becomingadulty
There are water rates, I pay 21 per month, But i have seen others at closer to £100 per month.
Contents insurance, I pay £10 but again it varies.

specialsubject · 29/01/2018 13:58

if you are thinking of subletting then you become the kind of tenant no decent landlord wants.

This is one of the reason for affordability checks, to reduce the odds of this kind of thing. As a tenant can move in and then pay nothing, sitting there until the bailiffs come, landlords need to do checks.

Can I also suggest that you read the how to rent guide on gov.uk to understand your rights and obligations.