A few weeks ago London officially replaced Hong Kong as the world’s most expensive city to live in. So let’s talk about the typical dilemma between sharing and living alone in line with our budget…
There is no perfect formula for finding the best location to live in in London. You have to take the following factors into account.
- Rent: Obviously you don’t pay the same for living in a studio flat in zone 1 as for sharing a home in zone 3.
- Commuting: The transport time: that is, how long it takes to go to and return from work. Which is better: to walk to work or to pay £150 less per month?
- Price of transport: Maybe you live in a cheap area, but then you spend what you save on the OysterCard and spend two more hours on the underground… Is it worth it?
Because of all of this, we almost always end up sharing and there are more and more apps that try to address demand and make things a little easier. We found a “heat map” of London (created by Splittable) that indicates the areas where you could afford to live if you share with 1, 2 or 3 people… according to your budget, of course.
Besides the map, which is a viral promotional tactic, Splittable offers a smartphone app to manage the (always controversial) shared household expenses. A clear way to know who has paid for what, how much each person has to contribute, divided according to the use, etc. It may be useful if you constantly fight with your flat mates.
If you want to try out the interactive map, here is the link: www.splittable.co/housesharing/sharing-vs-affordability-london
We played around with it a bit and these maps have appeared according to various weekly budgets.
- GREY: Share between 4+
- RED: Share between 3
- BLUE: Share between 2
- YELLOW: You can live alone
Zones for £100 per week per person (£450/month)
Zones for £150 per week (£650/month)
Zones for £200/week (£870/month)
Zones for £250/week (£1,100/month)
Leave a comment! Where do you live? How many people do you share with? How much do you pay?