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Original poster

Is 990/month rent too high?

80 replies

sjd1995 · 19/08/2021 08:31

Hi there, just wanting some opinions with no judgement please.

Currently earning £28k salary, wanting to rent my first apartment as my mum doesn’t work so paying a lot of bills and food etc.

The 1 bed apartment I’m in love with is in Leeds centre and comes with a lot of perks:

• free Yorkshire travel pass
• on-site free gym
• fully furnished but freedom to decorate
• weekly cleaner (I could do without)
• free super fast broadband
• common areas, study areas & rooftop terrace

I don’t have any significant debts (less than £1000) and currently have just shy of £10k for a house deposit so I wouldn't need to save huge amounts every month.

I don’t have a car (and wouldn’t need one), I don’t plan on having children and hopefully getting a raise to £31k in the next 12-18 months.

When I say the decor and finish on the apartment is absolutely stunning and I’m obsessed. I feel like I deserve it but just not sure about price and income! Please be gentle, TIA.

OP posts:
lurker101 · 19/08/2021 08:35

Have you looked at council tax and other utility bill costs? That could make it significantly more expensive - we were paying about £180/month council tax on a £1075 2 bed rental a few years ago - so about 18% more for council tax alone

PotteringAlong · 19/08/2021 08:36

How much is your take home pay?

Original poster
sjd1995 · 19/08/2021 08:52

Take home is around 1800/m.

OP posts:
GOODCAT · 19/08/2021 08:55

You say you are currently paying a lot of bills where you are. How much will this move save you or add to your costs?

Original poster
sjd1995 · 19/08/2021 09:01

@GOODCAT it won’t save me any money. I pay half the rent but all the bills and shopping. It would be a LOT cheaper to stay but it’s just not a healthy environment. I grew up in the care system and then moved to my mothers 5 years ago who has done about 5 months work in her 55 year life. She financially depends on me and I want to break out of that and break out of this awful area

OP posts:
Chocolatebuttercream · 19/08/2021 09:02

If your take home is 1800 and your rent is basically 1000, then I guess council tax will be ?100 ish, water, phone, Internet, insurance and fuel is gonna add another say 100 or 150 a month, then you've got to buy food, say 150 a month, so you're looking at around 1400 a month for essential spends (NB I have guessed these figures based on my experience, you would need to look them up for your area).

It would be doable but tight

LIZS · 19/08/2021 09:02

It is quite a significant % of your take home pay. Will there be utility bills, council tax, cost of travel to work/visit, any additional ground rent or service fee on top? How much would you have left for food, going out, clothing etc ?

ODPO · 19/08/2021 09:04

Over 50% of your monthly pay just on rent without any other bills on very high in my opinion.
I'd try and keep it around the 30% mark
It sounds lovely but it's money down the drain

CoronaPeroni · 19/08/2021 09:05

How much is the service charge per month or is that included? I would be wary of the 'perks' as these don't always follow through and you end up paying for nothing. But as it stands, doable on your salary if just bills are extra.

Chocolatebuttercream · 19/08/2021 09:05

You totally deserve to get out of the situation with your mum and I applaud your resilience in getting so far OP.

But thinking that you 'deserve' this particular flat may not be that useful. I don't mean that rudely at all, it's a very common feeling that we all have, but actually it's not about deserving, it's about what your circumstances will allow you. Good luck with whatever you decide!

MonkeyPuddle · 19/08/2021 09:06

That’s a very expensive Leeds city centre flat. But you’re paying for the furniture in the rent. Can you get unfurnished and bring your own?

PotteringAlong · 19/08/2021 09:07

I think that’s too much - by the time you’ve paid all your bills you will have very little left. Definitely move out, but not to that flat Flowers

Yafilthyanimal · 19/08/2021 09:07

Could you look at buying with your current savings that you have?

As soon as you can get on the property ladder, the better and tour mortgage would be cheaper than rent.

MNmonster · 19/08/2021 09:07

I think you will be living hand to mouth every month TBH. Is there anyone you know who you could share with?

BuffySummersReportingforSanity · 19/08/2021 09:10

I agree with PP, I'm sure it's a lovely flat, but it's going to leave you tight with not much room for extras or to save. That's one thing when you're 28, but makes it a lot harder to save to buy down the line or other larger goals etc.

Have you thought about looking at two-beds and finding a housemate? The company can be a big benefit if you don't have a partner and it would allow you to have a lovely place for a lot less.

Well done on having come out of the care system and doing so well for yourself, both earning and taking care of yourself and your feelings. That sounds shallow and patronising, I'm sorry. But it's sincere.

MonkeyPuddle · 19/08/2021 09:11

www.rightmove.co.uk/properties/112118333#/?channel=RES_LET This one is nice, part furnished, bang in town.

Cheesecake53 · 19/08/2021 09:13

It is not money down the drain. No one would ever say that about paying for a hotel whilst on holiday, so why tell that people who rent?
I rent by choice and like that it gives me the freedom to move away if I want to much quicker than a home owner could, plus all repairs are done by the land lady. It also means I can live in much nicer areas.

OP, how long is the contract? It sounds like a nice set up and if you find that it is not worth it and that money is too tight, you could move somewhere cheaper, but then you have a landlord recommendation, too. But equally you could decide to stay there for a year (or longer) and enjoy it.

AlmostSummer21 · 19/08/2021 09:14

I think you're doing the right thing moving out

The flat sounds mice & no doubt you deserve something nice!

However, you be FAR better off getting a room in a shared flat and adding to your house deposit each month and planning what to buy in a couple of years. That would set you up much better.

SweatyBetty20 · 19/08/2021 09:14

I’d expect a two-bed for that. I had to do a similar salary proportion when I lived in London and it’s not much fun not being able to save. The pandemic isn’t going to last forever, and I missed not being able to go in an impromptu weekend away, or to have to really tighten the belt for a friend’s hen weekend, just because I literally had no money left at the end of the month and no opportunity to save.

I’d keep my budget to £800pm max. The beauty of renting is that if you do get a pay rise, you can give notice and upgrade.

CrotchetyQuaver · 19/08/2021 09:16

It sounds like it's going to be a bit tight to me by the time you've added on council tax and bills. Maybe do yourself a 5-10 year plan to end up in one of those and live comfortably with money over at the end of the month?

MaverickDanger · 19/08/2021 09:19

Agree that I’d keep it to 800pm max. I was earning similar a few years ago and living by myself in a city centre property paying 600pm for a 1 bed.

With bills etc and money for going out, I was still managing to save a couple of hundred.

NotMeNoNo · 19/08/2021 09:19

It sounds like a lovely flat but don't write off more affordable ones you can make your own and might give you options in the long term. Tempting as it might be to prove a point to family/make a fresh start, don't overcompensate and end up in debt.
Or keep options open, how long is contract if you changed your mind after a year?

MeanderingGently · 19/08/2021 09:20

I'd move out and go for it.....if it's a lovely flat and you like it, have it. I always rent these days and, in the past, I have paid a much greater proportion of my salary on rent and still made it work.

It's your money, you work hard for it, spend it on a place you love, not somewhere that you don't like but is cheaper. Where is the joy in that? And besides, the beauty of renting is that, if it doesn't work out, you look for somewhere else and move on....

Go for it and good luck, it sounds great.....

Snog · 19/08/2021 09:22

Have you worked out a detailed budget OP?
It would be good to know exactly how much is in the budget for clothes, holidays, savings, going out etc so you can see what your life would be like. Moneysavingexpert.com has a great free budgeting tool.

orinocosfavoritecake · 19/08/2021 09:25

It’s far far too expensive on your income, and there must be cheaper places in Leeds. It’s also risky - putting that much money into rent means that if anything happens you have to resort to savings.

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