Cost of renting

pushpop

Hi there

I'm hoping to move out of home for the first time into rented accommodation like a flat or apartment, and I'm trying to figure out what costs there are outside of the usual two months rent up front, such as insurance etc.

Could anyone shed a light on this based on previous experience?

Thanks

Procrastastudy

Search Function is a wonderful thing but;

TV Licence
Electricity
Heating (Maybe above but will be the major variance)
Groceries (€100 a week)
UPC/Sky
Savings (You should not move out unless you can save)
Err.. many more.

Yawns

TV Licence - Personal choice, I've never gotten one while renting. I am aware of the consequences and made my own choice. You should too.

Electricity - 2 adults & 1 child with another on the way in a large 4 bed apartment costs me 114 every 2 months.

Heating - Big variance - I spent more on standing charges this year than gas but the year before it was prob 50 - 100 a month.

Groceries - Depends on what you eat. I can build up my chest freezer with a big buy of 200 - 300 and it will last a few months so just buy fresh stuff like milk, bread etc with as little as €20 or for most of this year the freezer has been turned off and I spend about €50 - €60 a week on groceries. 3 for €9 deals in Tesco & Dunnes for eg. Shop around a lot and get a lot of deals.

UPC/Sky - Sky TV but only cos I was complaining and got a great deal which hasn't expired for some reason. If it cost me more I'd have dropped it and stayed with FTA

Savings - AT the end of the month I usually have a little savings but I run a car and to keep it in tip top shape I actually maintain it and fix things if they break so not a lot of savings.

xper

OP,
You mention insurance specifically. When renting, you only need to insure your own possessions or contents. The landlord insures his possessions (furniture, appliances, etc) and the building (via the Management Company in the case of apartments). Most insurance companies, but not all, offer renters contents insurance for between 100-150 euros per year. It will vary depending on locality, whether the apartment is on the ground floor or not and whether its alarmed. Some policies will cover bikes, smart phones, laptops, etc away from home for a little extra. If you have a modest lifestyle without many expensive possessions, it is questionable as to whether its worth it as the excess levels can often eliminate any benefit. Shop around the various insurance websites after you move in.


As for bills, you can add telephone landline and broadband to those listed above. Exactly how this breaksdown depends on whether you opt for these and how you combine them with your TV service (UPC, Sky, Saorview, Saorsat, others) which in turn depends on what is available at your chosen home. Remember you are unlikely to be able to set up a satellite dish in an apartment but and UPC is not available everywhere.

And check out whether a TV, DVD player, stereo/radio is supplied in your prospective home. Don't assume when you are viewing a place and you see these items there that they come with the rent - they may belong to the departing tenant if they are still in residence.


In addition to those electronics, when you move into your first place, especially if you are on your own, you can spend a small fortune in a relatively short space of time on kitchen utensils, appliances, dishes, cutlery, pots & pans, cleaning equipment and products, bed linen, towels... the list goes on. Rental properties can vary quite a bit on how much of these they supply but you will find yourself needing acquire at least some and probably most of these. The trick is just to get the bare essentials at the outset and then acquire the rest over time as you can afford them. Shameless scabbing off relatives comes to the fore here! Its something you only do once, you can bring the stuff with you if and when you move on to other places later.


Consider what change to your transport costs and requirements the location of your new home will require. This could be a saving or an extra expense.

CuriousG

TV Licence - 13e a month, if you choose to get one. As some have said, your choice.
Electricity - I put away ten a week, it takes a while but gets it done eventually.
Heating- Around 40 a month for me personally, depends if you get somewhere easy to heat etc.
Groceries - 100 is a bit much, me and my partner spend 60 between us a week and try to save/economise where possible. Definitely look around for multibuy deals and reduced sections etc.
UPC/Sky - Don't have it.
Savings - Very little in my situation, but if there is anything left over that is saved.

You can get a nice, warm apartment for 400-450 a month these days depending where you want to live. Try and get somewhere with bins included, it will save a lot. You can find a lot of places with free tv/internet if you are moving anywhere near a resort which is where I moved first, as it was extremely cheap, a lot of added extras, just be prepared for a busy summer.

Where are you looking to rent? You can get some really good deals if you are willing to look/move.