Expert Info
on 25 Apr 2015
My boyfriend and I are both from ireland but have been living in Toronto for two years. Our visas are up in October 2015 and we are looking into the possibility of moving to London, UK. We choose London because I work in fashion and hope to gain a better future for myself career wise if I move there. My boyfriend's company can move him there also. We figured we'd be lucky to be making £20k each especially at the beginning. We are optimistic as my boyfriend's company is quite decent in helping their staff move up to higher positions. I work freelance so my pay will go up and down every week but I'm good at hustling and I won't let it go below £400 a week as I do plenty of odd jobs like nannying, promotions, personal shopping. I'm just looking to see if anyone else is in sort of the same boat as us financially? What neighbourhoods would be our best option? Is there any artsy neighbourhoods that are on zone 2 where rent would be £800pm? Or less even? What's property tax and how often do you pay it? What bills come with an apartment usually? We live in a condominium in Toronto and our only bills are wifi and electricity which comes to about $140pm. If there was anyone here that was also a freelancer like myself I would appreciate any advice. Is it possible to walk around in most neighbourhoods? I sometimes walk for up to 45 minutes if I have time to save on public transport. I don't really wish to live pay check to pay check, we would like to save at least £70-£100 a month for our uncertain futures. We are both 27, no children and are quite used to city life so we know we won't be living in luxury at least at the start. I can only hope I get a lot of fashion work and I won't have to live on this pay for longer than a year! Any other poor artists out there? How do you live in London? Young couples where do you live?
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You can certainly live on 40-50k per year between, though you'll need to be fairly careful with your money. But many people live on much lesss.
Rent will be your biggest expense, it's high in London, so you'll want to choose somewhere that's not too big, or too central. Saying this, you're unlikely to get much change from £350 per week/ £1500 per month. This assumes you live in somewhere like Chiswick, Shepherds Bush or Kensal Rise. (London is so big and there's too many options to list here).
Council tax is payable by the tenant (you) and is likely to be around £80 per month, and utility bills (gas, water, electric) will be similar amount (£80pm). Mobile phone bills will be a minimum of £10 each per month, provided you have your own phone already. If you want to get on a contract with a new phone you will need to double this at a minimum. Things like Sky TV are expensive, say £30 per month, so are a luxury most people avoid.
Travel is another expense to think about - a Zone 2 tube pass will be around £100 per month each.
On the upside, the economy is strong in London and you should find a job without too much of a problem, and may find that your salary is more than you are anticipating.
London is a great city, and you should love. Please post a message here if you make the move!
Tom