Olivia Taylor

Guide To Renting

When moving out your biggest expense will likely be rent to your landlord (who can be an individual, letting agent or University) when living in private accommodation. The cost of rent will vary massively – it could range from £300-£700 per month for a room with a shared bathroom, kitchen (or maybe an ensuite). If you want your own property – such as a studio flat, flat or house – could vary from £600+ a month. If you are renting a larger property, it might be a good idea to get housemates to spread the costs of rent. 

Council Tax is another large cost to may experience. The cost of this varies based on the properties value and your properties efficiency band.  If you live alone, you can get a 25% reduction in council tax. If you (and everyone you live with) are a full-time student, you are exempt from paying council tax. 

Gas and Electric are essential bills to pay. However, you can reduce your gas and electricity bills. Also, different electricity and gas suppliers have different prices so it is helpful to  check comparison sites with Uswitch

Wifi is generally an essential in today’s world, so this will also need to be put in your budget! 

If you have a TV, you may also have to buy a TV licence which costs £159 a year. 

Use The Citizens Advice Budget Tool