To think DD isn’t earning enough to live alone in London?

[Sunnydaysp]

DD is 27 and earns £65k a year. She currently has a long commute in to London for work each day but following her recent divorce and sale of their home, she wants to move to London for a fresh start. She has no DC, so is looking at one bed flats which appear to be around £1,500-£2,000 a month in rent, not to mention all of the bills on top too. I appreciate that DD earns a very good wage for her age, however, I’m concerned that she will be stretching herself too far by attempting to live alone and paying an extortionate amount in rent rather than house sharing, which seems to be the norm for most young professionals. She seems to think she can easily afford it, but DD has never lived alone and doesn’t really seem to appreciate the cost of living, as ex husband always managed the household outgoings etc. AIBU in thinking that DD will be stretched in attempting to live alone on her salary in London with the rental amounts described?

No one who really knows London working would describe £65k as a “very high salary” for living alone

She won't be rolling around in £50 notes but it's an excellent salary for a 27yo, a very high salary compared to even the London average, and plenty of money for living a nice life alone. Londoner 4 Lyfe who is raising 2 kids here.

You must have a lot of money yourself if you think 65k/yr isn't enough lol.

Excellent, the "but it's just not that much for London" posters have arrived and now I can really enjoy this thread.

Please can someone get the "but a salary almost double the average doesn't mean you are rich" posters on board too so we can make this a classic MN-discusses-incomes thread?

Tell her to look South of the river... she could get something this in Rotherhithe for under £1.3k a month. Jubilee line, overground etc all near by and a nice, safe, green area. Why would she need to spend £2k for a 1 bed - that is madness.

www.rightmove.co.uk/property-to-rent/property-68701113.html

she could get something this in Rotherhithe for under £1.3k a month. Jubilee line, overground etc all near by and a nice, safe, green area. Why would she need to spend £2k for a 1 bed - that is madness.

If she can afford to live in east London where she wants to live, why would she live in rotherhithe where there is almost nothing going on?

No one who really knows London working would describe £65k as a “very high salary” for living alone

🙄 it may not go a long way but it's a good salary

She can definitely afford to live in her own flat in East London on that salary.

One of my DCs is the same age as your DD and was renting in Whitechapel last year. Although it’s an expensive area, it’s also very trendy and has good transport links.

Yeah, there is a reason Rotherhithe is cheap though, which is that some people just don't want to live there. I'm not slating it, I'm ex Bermondsey, which I loved, but it's not exactly London's most hopping hotspot.

It doesn't matter what we think about the social benefits of house shares and buying and Clapham (...I agree with PP, it loses its charm at her age). She's very well off for a single 20something, she wants to live alone, she wants to rent, she can afford it, and she likes east London. Which makes perfect sense for a newly divorced 27yo with a well paid job. In her shoes I'd absolutely want to rent a nice flat in a buzzy area, find out who I am on my own and just have fun for a year or two before I started to think about buying and moving further out and blah blah grown up blah. She doesn't need advice, she's got a perfectly doable plan already, and evidently has the wherewithal to change it if it turns out to be not what she wants.

Bringringbring12 I live in London and have done for years.

Obviously lockdown is horrendous, but London is brilliant if you're young, free and single. I wouldn't be anywhere else at that age - mind you I did get pregnant at 26 (in London), so warn her to keep her hand on her ha'penny!!

She's only 27 and it seems very young to be living on your own what??

For a 27 year old who is going to be pursuing a normal social life mainly with other 27 year olds £65k is a great salary even in London. If you're middle aged parent with a stay at home other parent and three kids who you want to send to top private schools then no 65k isn't a very high salary.

Leytonstone is an area she could look at. I'm guessing she works in the City? It's on the Central Line, I think 5 stops to Liverpool Street. 2 stops to Stratford which has Westfield of course (not much else to be fair). Would be more around the 1.5k mark than the 2k a month mark I think.

Young to be living on her own but old enough to get married?

I suspect your dd doesn't pass much heed on you. I wouldn't. It's your right to worry, but it's her life now.

That's easily do able providing she has a deposit. Does she (I might have missed it).
Both my adult step kids live in london.one ears significantly less and owns his 2 bed flat. He has a lodger to contribute to Bill's.

She's 27. That's old enough to do her own sums and work out her own housekeeping.

it’s important that she has money left for socialising and hobbies, which I don’t think she will.

Well, that's not really your business. She'll figure it out for herself.

Does she work in Canary Wharf or the city? We could give different suggestions then. But yes, she should surely be able to live comfortably and save up to 500 a month living in London, single, on that salary.

I own a small two bedroom flat in a very nice part of Fulham near the tube and rent it out for £495/week. So I would have thought she could find a one bed or studio for much less in a good location but not such a prime one. If she figures just over one third of take home for rent and council tax etc she could pay in total £1500/ month she should find somewhere decent.

Are you mourning her divorce by any chance? You wanted the grandkids and such? She's SO SO young.

Some of you are acting like 27 is old
She’s super young..

She will not be socialising with your friends: she will be socialising with other young professionals on very similar salaries and with similar renting costs etc. They will have to organise their socialising and their hobbies accordingly. This is a good experience: trying your wings, seeing what you can do.

It s her choice !
Why are you interfering? If she finds after 6 months or a year she wants to change she can

Yes your daughter can afford to live on her own but should have a look at rightmove website, where you can search for a one-bedroom flat and specify 'no share' in the filter. I am finding lots under 1000K per month.

Well she clearly thinks she can afford it so I would support her in her decision. And I would support her in her decision to house share in 6 months time too IF she finds it all too much. That really is your role as her parent right now.

I've lived what feels like a thousand lives, but it's hard to go from a 'family' with your husband to sharing a flat/house.

Sounds like she knows what she wants. I admire her and am in awe of her salary at 27. Well done dd!!

Both of my sisters live at the end of the northern line. They have 2 and 3 children respectively. Their household incomes ate both significantly less than your daughter they own their homes, have very comfortable lifestyles due to sensible money choices. They have holidays, (one more than the other), but at least 1 every year. Ine eats out regularly and entertains a lot the other gets a takeaway once a fortnight.
As long as your daughter is sensible she can afford to buy. She needs to concentrate of saving a decent deposit for now by being mean, staying in, not buying clothes, manicures etc. The money mounts up fast. Look further out in london, get a 2 bed of her own and rent the spare room out much more financially savvy in the end. We encouraged our kids to do that