Guest post by Alex Polishchuk
London is well known for having one of the highest living costs worldwide, ranking consistently in the top ten of the most expensive cities to live in. However, it is possible to live in London on a budget whilst not having to compromise on location, accommodation quality, or quality of life.
To find a decent place to live in London you should do a bit of research. Online platforms offer thousands of options where you can find your best accommodation without much effort. But make sure you select a reliable source. One of the advantages of online platforms, like Rentola, is the possibility to filter rentals by price. By using this and other filters you can easily narrow your search when looking for a convenient and cozy place in London.
This guide will give you other tips to remember as you search for your ideal London pad.
Look in the Outer Boroughs
London is no different from any other city as the further out you look, the cheaper the rents. Some affluent areas in these outer boroughs, such as Dulwich, Muswell Hill and Richmond, will buck this trend; however, as a general rule, it is possible to find a well-appointed apartment on the outskirts of the city at competitive prices.
For example, the average rent in the Borough of Havering in East London is approximately £1150pcm. This borough has one of the lowest population densities in London, is awash with green spaces to enjoy and is superbly connected with London via the District Line into Blackfriars and Cannon Street, London Overground services into Liverpool Street and now Crossrail services into the heart of London from Romford, Gidea Park and Harold Wood stations.
All outer boroughs have excellent transport networks either into a London mainline terminus or via the Underground, Overground or Crossrail into and around the city.
In addition, you’ll get much more for your money on the city’s outskirts than in Zones 1 and 2, yet with the benefit of all the conveniences, you’ll need on your doorstep. Most areas will have local shops, coffee houses, restaurants and bars, and increasing levels of parkland and nature reserves the further out you branch.
Work out Travel Costs
Pic taken from pexels.com
Travel costs in London are not that expensive, particularly if you have a direct route to your place of work that doesn’t involve one or more changes onto different trains or buses.
Spend time researching where you can quickly get to your place of work, how long the commute will be and how much it will cost you every week. For example, if you’re working around Canary Wharf, it makes sense to look for properties in East London boroughs or Lewisham, which is on the Docklands Light Railway, and not Hillingdon is on the Western edge of London.
Likewise, if you’re working in the Southwark or Waterloo areas, looking for properties in the South-West commuter belt will ensure a smooth and quick commute with minimal travel costs. If you can travel outside peak hours, there are also significant travel discounts to be found.
Don’t Bite off More than you Can Handle
When choosing your London apartment, don’t bite off more financially than you can realistically afford. The temptation to stretch your budget and get an extra bedroom is enormous; however, in the longer term, it can prove counter-productive.
It is much better to consider the minimum required space and plan your search accordingly. For example, if you don’t require any dedicated workspace, then perhaps looking into a well-appointed studio apartment will be all you need. However, if you need to separate your living area from your sleeping space, look at 1-bedroom flats. It is possible with some creative thinking to make the most of a smaller space rather than stretching your budget to get a place with more space than you will end up using.
Best Areas to Search in London
There are several areas right around London that provide excellent quality places to rent. Havering and the Borough of Barking & Dagenham are highly desirable in East London. The latter offers excellent links via the Hammersmith & City and District Lines and C2C services into Fenchurch Street, with the average monthly rent costing approximately £1250.
South of the river, Sutton and Croydon are excellent options. Sutton has the highest GCSE pass rates of all London boroughs and low crime rates. Southern rail services provide fast links with Clapham Junction, London Bridge and London Victoria, and Thameslink services into Blackfriars and London St Pancras. Monthly rents in Sutton are just under £1200.
Croydon is slightly more expensive at £1250 per month. However, the town is undergoing significant regeneration and investment. Transport links are outstanding, with services into London Victoria taking as little as 15 minutes and within easy reach of Brighton and the Sussex coast.
In the west, Hillingdon’s rents are at a similar level to Croydon, yet with the bonus of providing several beautiful communities and villages to live in. The Central and Metropolitan lines offer good connections to the city’s centre. At the same time, its proximity to Heathrow and surrounding technology parks makes it an excellent place to look for jobs outside the centre of London.
In the north, Enfield and Waltham Forest offer a great mix of greenery and suburban life, with both boroughs near the M25 and offering excellent rail links into the centre of London via the Central and Victoria Lines and London Overground services into London Liverpool Street.
So, while living in London is expensive, it is possible to enjoy the trappings of London life without breaking the bank by searching smartly and not overstretching yourself.
