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Opinions on my Renting Plan

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  • 19-04-2010 8:17pm
    #1
    Fukuyama
    Registered Users Posts: 3,023 ✭✭✭


    Hey guys,

    Basically I'm looking for feedback from people with experience renting and living by themselves. A few months back I was going o move away from home by myself but held off until I got a better job etc... I'm glad I did as now I have a little more money to play with. So if anyone could offer me some opinions on the following plan that would be great!

    My monthly income is 1,100 to 1,200.

    I'm interested in renting a fairly good quality apartment in South Dublin City in the D12 area. Would 550-600 be enough? It seems like on sites like Daft I could find a pretty good place for that.

    How much would food cost. I've spoken to a friend and he said he spends less than thirty a week on food etc... If he shops smart. Is his possible?

    Also, what are utility bills like for small apartments? Obviosly I can't expect an exact figure here... But a ballpark number would be nice...

    Finally, are there any pitfalls or issues I should be aware of as a firs time solo renter?

    Many thanks guys!!

    - Dean.


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    #2
    Treehouse72
    Registered Users Posts: 1,003 ✭✭✭Treehouse72


    > Groceries: €50 - €70 a week. Budgeting for less is cutting it too fine IMO. If you find you spend less, cool, but I'd set a tough budget starting out to make sure you can afford it.
    > ESB/Gas: I budget €100pm for heating, hot water and electricity. But I think it is actually less than this. I would guess c.€70 pm across the year. My bill for the cold snap with €160pm (ouch!), but for Feb and March it was only €70. In Summer, it will be less. So €70pm would be a ballpark average.
    > NTL basic TV: €25pm
    > Broadband: €30pm

    So on top of your rent, I think you should budget for at least €400 for all other necessities. This is before you allow for going out, clothes, emergencies, cigs etc. Your budget sounds very, very tight to me to be honest.

    On rent, you need to make sure you are not offering full asking price. I'd start asking for 25% off and settle for 10% - 15% off.

    Good luck.


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    #3
    Xiney
    Registered Users Posts: 8,085 ✭✭✭Xiney


    paying 50% of your income (especially such a small income, no offense intended) towards accomodation is not a good idea. It is generally suggested that you pay no more than 25% of your income towards rent.

    Also budget for contents insurance - this way if there's ever a break in or a fire, you will get some money to go towards replacing your things.


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    #4
    Meeha
    Closed Accounts Posts: 6 ✭Meeha


    I would also say that when you get somewhere to set the timer for water to heat during the night as I have recently discovered that you can reduced bills significantly (this is probably obvious to some, but I didn't cop until my first bill, which was €250!). Put the washing machine on when you are going to bed. Little things like this help out when you're on a budget and only starting out.
    Best of luck :D


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