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Tuesday's silly question - rent

S

How much are we all paying in rent, and what do you get for your money (e.g. bills)?

I'm thinking of subletting rooms in my house.

S

i sleep in my office

H

I sleep in my car

T

I sleep in a bed

S

Your bed or someone else's/anyone else's?

T

It alternates

H

I realised I spend a fortune on bills, its crazy, especially as I live alone.

I don't pay rent but do contribute towards two mortgages, good thing my parents give me lots of dosh otherwise I would starve.

S

My feeling for the area in which I;ll be living is that people pay £300/month to rent a room in a house. I've just sold my London home and am buying close to the uni campus where I'll be based. The laughable things is that I can get a £100,000 mortgage for a whole house and only pay £380 per month in mortgage payments. With two spare bedrooms I can people to pay my mortgage for me. Well that's the logic anyway. Hence, the question on what are the going rates for rent and what comes included in the price!

H

Is that an interest only mortgage?

S

Yes, but just for 3/4 years, then I sell - works out a third cheaper every month than standard repayment but obviously you're not reducing the loan (not that you'd make much impression on the capital in the first few years anyway). This works well if the property market rises as you get to keep the money that it earns and keeps me in the property market whilst doing the PhD.

W

It obviously depends on how expensive the area is, how big the room,and also how close to uni, how many people sharing with etc. I have bought my own place now and pay the mortgage, but last year I rented a large room in a shared house close to campus(would have usually been the lounge if the house was not divided up for maximum profit) for £340 per month. All bills had to paid on top, except for TV license, which the landlord paid. It sounds like a lot, but as actually cheaper than halls! Maybe find that price out and use it as an indication, or ask your uni's accomodation office for a price guide.

V

oh, where are unies where PhD students can afford to buy their own homes;))?

W

verdy - I can only afford it because I applied for a lectureship and for some reason (generally unknown to me) got the job so I have a salary which means the bank will lend me money. I have to say I am still finding the PhD Pretty Damn Hard, which makes me feel like a bit of a fraud!

A

£250 pcm for a nice house in a good area (not too many chavs...).

K

I pay £500 a month for a 1 bed flat.

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