Renting

ghogie91

Hi Guys,

Im looking to move out of the home place.

Im 20, I earn €1500 per month.

Since I basically never lived out of home before I am kind of stuck on how much rent I should be paying, I am trying to get a friend to move in with me but at the minute I am trying to budget for myself.

From asking other friends who are living out, I have tried work out paying 600 per month on rent and 150 ESB every 2 monthly bill. How realistic is this in the over all context of my monthly salary etc?

Any help would be appreciate I have no experience of this at all.

Regards,
Gary

petethebrick

600 on rent when you're earning €1500 is far far too much in my opinion.

The general rule is to aim to pay no more than 20-30% of your salary so for you that would be €300-€450.

I take it you're in Dublin.
You could easily find an ok 2 bedroom apartment with a friend for between €800/900.
If moving alone you could find a room in a house share. An ok room for €300-400 or a really nice room for around €450. Bills should be less in a houseshare also especially as you can share things like internet/tv etc.
If you don't want to house share you could find a studio flat for €500-€600 but at that price you won't get anything very nice and your bills will be more.

When choosing a place factor in things such as transport costs to work etc Obviously you can save money if you live closer to work/town and don't need to fork out for buses and taxis.

ghogie91

petethebrick wrote: »

600 on rent when you're earning €1500 is far far too much in my opinion.

The general rule is to aim to pay no more than 20-30% of your salary so for you that would be €300-€450.

I take it you're in Dublin.
You could easily find an ok 2 bedroom apartment with a friend for between €800/900.
If moving alone you could find a room in a house share. An ok room for €300-400 or a really nice room for around €450. Bills should be less in a houseshare also especially as you can share things like internet/tv etc.
If you don't want to house share you could find a studio flat for €500-€600 but at that price you won't get anything very nice and your bills will be more.

When choosing a place factor in things such as transport costs to work etc Obviously you can save money if you live closer to work/town and don't need to fork out for buses and taxis.

Thanks for getting back so quick.

Im actually in Athlone, proper new modern two bed apartments are 500-600 for basically brand spanking new project. Plus they are right in the middle of town, so it would be within walking distance of pretty much everything.

As for my car, I work just on the outskirts of town which is only about 3/4 miles from the town center, I mean 20 quid a week on petrol in my 1.2 clio is plenty in this place.

So I have no other out goings whatsoever, 20 petrol and the traditional student wednesday night out with the AIT loopers costing <20 euro is basically it.

I wouldnt want to houseshare, I would prefer my own place or sharing with someone I know and trust, because I dont have to move out of the home place Im looking for like somewhere nice worth moving to that i can afford myself

I would be getting internet only, no TV as I dont watch TV at all basically. Everything is net-wise.

Thanks,
Gary

omega666

ghogie91 wrote: »

Thanks for getting back so quick.

Im actually in Athlone, proper new modern two bed apartments are 500-600 for basically brand spanking new project. Plus they are right in the middle of town, so it would be within walking distance of pretty much everything.

As for my car, I work just on the outskirts of town which is only about 3/4 miles from the town center, I mean 20 quid a week on petrol in my 1.2 clio is plenty in this place.

So I have no other out goings whatsoever, 20 petrol and the traditional student wednesday night out with the AIT loopers costing <20 euro is basically it.

I wouldnt want to houseshare, I would prefer my own place or sharing with someone I know and trust, because I dont have to move out of the home place Im looking for like somewhere nice worth moving to that i can afford myself

I would be getting internet only, no TV as I dont watch TV at all basically. Everything is net-wise.

Thanks,
Gary

You need to think about,
heating, bin charges?
Food?
All the household stuff you are used to using at home for free which you now have to pay for yourself!

ghogie91

omega666 wrote: »

You need to think about,
heating, bin charges?
Food?
All the household stuff you are used to using at home for free which you now have to pay for yourself!

I was thinking of that so heating (if electric) would bump the esb up 50 a month.

Household stuff I suppose will be a once off shop monthly so I could cover that also, and bins would be about 8 to 16 euro weekly in my house atm so for me I guess i would be every two weeks when living on my own.

As for food, I have a set diet so i buy the same thing weekly so i have taken that into consideration already.

It still leaves me with a reasonable amount to live on per week, although its less than I would like, but dont think its less than i would need.

???

Gary

Sarn

You also need to consider car tax, car insurance, contents insurance, mobile phone bill, an emergency fund (e.g. car needs a part, gifts). Socialising and clothing you can adjust as necessary. I'd echo the opinion that the rent is making up too large a portion of your income.

I reckon with good budgeting you'll be fine.

djimi

There is no way you will be able to afford a €600 a month apartment alone on that salary, unless you plan on living entirely on Tescos noodles and water! I was renting a place alone for 6 months that cost me €700 out of my €2000 a month salary, and it was a good thing that I had a bit of money saved up to cover me being short because I never once was able to go a month without using it!

The rent might not leave you broke, but other charges to consider are ESB (which will be 100-150 in summer, and a lot more in winter when you have to heat the place), internet, food, your car (running, tax, insurance, service etc), your phone. These all add up and you will be left with very little at the end of the month.

ghogie91

Ok Ok maybe I was over do-ing it wit hthe 600 so.

That 600 gets me right into the middle of town. I would rent a 4 bedroom house just outside of town for 450 a month. I know that 450 fits into the whole no more than 25%-30% of your salary roughly. I might consider this option.

Ideally I will try get one of the lads or lassies to move in with me so then it would be ideal!

The lack of people willing to get a house is the problem!

Gary

helanlouise

Great information there, I have always wondered the right way to go about this, thanks for showing me!
Some of them points are really straight forward but all too often you will over look them

syklops

If you have a car, why would you want to live in the city centre? Have you factored in parking costs?

I think you would be better off living out of town a bit, as rents will be cheaper, as well as parking fees. You said if you live in the city centre you can walk everywhere, but it also means you will be paying for your car to sit unutilised all the time, so a property that has a parking place included in the price is what you will need, and I think you will only get a reasonably priced one out of town a bit.

Looking back at my own situations, when I was about 19 I was earning about 1500 a month and my rent was about 190 (house share), no car, didnt smoke, but entertainment, clothes, food, computer stuff, savings, holidays, didnt see me a with alot of change from the 1500.

Even later when I was on decent money, 600 in rent is a big chunk of money to go out in one go.

djimi

syklops wrote: »

Have you factored in parking costs?

I think you would be better off living out of town a bit, as rents will be cheaper, as well as parking fees. You said if you live in the city centre you can walk everywhere, but it also means you will be paying for your car to sit unutilised all the time, so a property that has a parking place included in the price is what you will need, and I think you will only get a reasonably priced one out of town a bit.

In most towns parking costs arent an issue as most places will have parking provided. Aside from living above shops on main streets I dont think Ive come across anywhere in my area anyway that didnt have parking or required it to be paid for seperately.

syklops

djimi wrote: »

In most towns parking costs arent an issue as most places will have parking provided. Aside from living above shops on main streets I dont think Ive come across anywhere in my area anyway that didnt have parking or required it to be paid for seperately.

ghogie91 wrote:

Plus they are right in the middle of town

Towns, yes, but the middle of town is always a law unto itself. I'd rather budget parking in and not need to have it, then not budget for it.

djimi

Even in the middle of towns its unusual for apartment complexes not to have parking. Factor it in by all means, but from my experience its easy enough to just avoid the places that dont have parking without having to worry about it as an extra charge; for the most part you will not end up paying for parking seperately.

daltonmd

ghogie91 wrote: »

Hi Guys,

Im looking to move out of the home place.

Im 20, I earn €1500 per month.

Since I basically never lived out of home before I am kind of stuck on how much rent I should be paying, I am trying to get a friend to move in with me but at the minute I am trying to budget for myself.

From asking other friends who are living out, I have tried work out paying 600 per month on rent and 150 ESB every 2 monthly bill. How realistic is this in the over all context of my monthly salary etc?

Any help would be appreciate I have no experience of this at all.

Regards,
Gary

Gary, there are at least a dozen 2 bed apartments asking for less than 600pm in Athlone, some are mins from the town center. I really think you should look for something in the 450 region - make an offer on a 500pm apartment and this way your ESB/GAS is paid for - on your budget, with a car to run you are really leaving yourself on a ledge.

Also, as this is your first time out of home - be careful of choosing a top of the range brand spanking new apt with brand new furnishings - apart from wear and tear - if they are damaged and the apt is damaged in any way then you are liable - not trying to say you're irresponsible but if you have friends over? Things that you do in your 20's???

Aim for middle of the road. See can you sign for 6 months, that way you can see what you like or don't like about living in an apt and choose your next one based on the experience.

Rent/ESB/GAS/bins, shopping for the week, lunches in work, car, insurance, petrol, tax, NCT - a breakdown!!

You should aim for 25 - 30% of your income for rent/mortgage. 600 out of 1500 is too high. It's 40% and is your 1500 Gross or Nett?

Good Luck.

ghogie91

daltonmd wrote: »

Gary, there are at least a dozen 2 bed apartments asking for less than 600pm in Athlone, some are mins from the town center. I really think you should look for something in the 450 region - make an offer on a 500pm apartment and this way your ESB/GAS is paid for - on your budget, with a car to run you are really leaving yourself on a ledge.

Also, as this is your first time out of home - be careful of choosing a top of the range brand spanking new apt with brand new furnishings - apart from wear and tear - if they are damaged and the apt is damaged in any way then you are liable - not trying to say you're irresponsible but if you have friends over? Things that you do in your 20's???

Aim for middle of the road. See can you sign for 6 months, that way you can see what you like or don't like about living in an apt and choose your next one based on the experience.

Rent/ESB/GAS/bins, shopping for the week, lunches in work, car, insurance, petrol, tax, NCT - a breakdown!!

You should aim for 25 - 30% of your income for rent/mortgage. 600 out of 1500 is too high. It's 40% and is your 1500 Gross or Nett?

Good Luck.

Thanks for the reply I shall have another look.

I suppose I should factor in breakdowns as my car is only back from the garage, minor coil problem but still 60 squids I might not have had.

1500 is my net... so I have that to play with.

With regards being in the 20s and stuff, I understand fully, I have been in college houses where the occupants have cut down the stairs, walls and ceilings because they were cold during the frost so they burnt them.

Therefore I wouldnt exactly have an open door policy as I would look at my "new" home as that of a professional which works 9-5... I will leave the houseparties to those who are thick enough to cut down their walls :P

Gary

Graciefacey

I'm perplexed at people paying 150 bimonthly on their esb Ye must be running a weed farm! Op if you're careful with your electricity it should work out at 70 max in a two bed apartment

djimi

Graciefacey wrote: »

I'm perplexed at people paying 150 bimonthly on their esb Ye must be running a weed farm! Op if you're careful with your electricity it should work out at 70 max in a two bed apartment

€70 bi-monthly? If by careful you mean use nothing other than the fridge then maybe...!

When I lived alone in a two bed apartment during the summer (so no heating) the cheapest bill I had was €90, and that was with me being extremely stingy with ESB. That was nearly two years ago so rates and VAT have increased since then.

Graciefacey

djimi wrote: »

Graciefacey wrote: »

I'm perplexed at people paying 150 bimonthly on their esb Ye must be running a weed farm! Op if you're careful with your electricity it should work out at 70 max in a two bed apartment

€70 bi-monthly? If by careful you mean use nothing other than the fridge then maybe...!

When I lived alone in a two bed apartment during the summer (so no heating) the cheapest bill I had was €90, and that was with me being extremely stingy with ESB. That was nearly two years ago so rates and VAT have increased since then.

I'm lucky that I'm in a first let upstairs maisonette which has the sun in the kitchen and living room in the morning and in the two bedrooms in the evenings. It's bright and airy so most nights only need a corner lamp on in the living room. The girl underneath always has her heat on so that heats my place. If you're careful with switches, chargers etc it makes a big difference in your bill.