Alternative Living Arrangements To Save Money on Rent
It is now cheaper to buy an island in the Caribbean and a private jet to take you there, than it is to buy a three bedroom house in London and the rest of the UK is not too much better to be fair. So if you want to work in London and you’re not likely to get a six figure raise any time soon, you’re going to have to get creative!
Become a part-time lodger
With the rise of the commuter, the market has grown up around them and it is now possible to find partial digs even in the city centre!
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Simply put, folks are happier to accommodate part time lodgers during the week and still have their homes to themselves at the weekend. Mid-week room lets are obviously cheaper and although you can’t really call them home, it means you can save a fortune from proper commuting and allow yourself the luxury of living somewhere on the weekend that’s bigger than a sardines tin can.
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Loft Renovator Price Guide
Fortunately for the money conscious, London lies on a river, and not only that—it has a series of Victorian canals making it possible to find a canal boat or a Dutch barge. Boats have always been a workaround for those in the know and while there are plenty of stupid big silly money Chelsea liners moored on the Thames, there are also a whole raft of little narrow boats and cabin cruisers moored from little Venice to Camden Lock and in Richmond. They’re not as cheap as they were a decade ago, but you won’t have to pay council tax and you can still find a bargain if you know where to look; and thankfully thanks to uncle Google that’s no longer a well kept secret.
Commit to commute
As London gets bigger and more expensive so does its satellite towns. However if you know where to look you can still find good value accommodation for much cheaper. Maidstone is about an hour away from the big smoke and roughly a third of the price of the city centre. And yes, the downside is that you will have to live in Maidstone, but at least it has an amusement park again.
One way to get off the housing ladder and still keep a roof over your head is to go Aussie style. Campervans range in size and style pretty much as much as it’s possible to range in style when you’re talking about putting a roof on a van. The huge Winnebagoes won’t come much cheaper than a one bed flat in Hastings, but then they’re probably about as big. You can of course find a teeny wee one for a fraction of the price and if all you need is somewhere to sleep then home is where the hard shoulder is. Once again you won’t need to worry about Council tax, but you will have to think about MOT, tax and of course parking.
So it’s better to buy? Well according to the UK market it is. The rest of Europe seems fine with renting, but if we stick to the rules then owning even a portion of your home is the English dream. There are a good number of joint and part ownership schemes that attempt to make living in London affordable. Of course this begs the question what happens when the inevitable happens and folks just can’t actually afford to live in the city, but if you’re still intent on owning bricks and mortar then have a look out for these schemes.
We hope you enjoyed this blog post and let us know if you can think of any other alternative living arrangements to save money. We do recommend to our readers interested in home ownership to read our more serious blog post on myths about buying your first home.