Here’s How to Budget When Looking for Student Flats in London

From understanding the different types of student accommodation available to exploring cost-saving option, this comprehensive guide will provide you with all the information you need to budget effectively when looking for student flats in London.

Types of Student Accommodation in London

London offers a variety of student accommodation options to suit different needs and budgets. These include

• On-campus housing at university halls of residence
• private student halls
• private rentals and
• homestay

On-Campus Housing

University halls of residence are popular among first-year students and offer a chance to meet new people. Even though on-campus housing in universities in London are generally cheaper, they come with several disadvantages like limited freedom and privacy, crammed rooms and shared facilities.

If you’re looking for more independence and flexibility, opting for an off-campus private rental may be the right choice. Private rentals include student halls, shared flats and studio apartments.

Student Halls

Student halls are purpose-built accommodations designed specifically for students. They usually come with a range of amenities such as communal spaces, laundry facilities and study areas. While they offer convenience and a sense of community, they can be quite expensive compared to other options.

 Shared Flats

Sharing a flat with other students is a popular choice among students studying in London. By splitting the rent and utilities with roommates, you can significantly reduce your costs. Websites like SpareRoom and Student.com are great resources for finding shared student apartments in London or rooms to rent.

Studio Apartments

If you prefer more privacy and independence, renting a student studio apartment in London might be the right choice for you. While they tend to be more expensive than shared flats, they offer a self-contained living space with your own kitchenette and bathroom.

The following table encapsulates the advantages and disadvantages of living in some of the popular localities of London. It also shows the approximate average monthly rents for shared accommodations and student studio apartments in London. Keep in mind that these figures can vary depending on the area and amenities offered. Niyo can offer you assistance in finding the perfect accommodation in London. Visit https://niyo.me/student_accomodation to choose a lodging that fits your budget.

 

<td style=“background-color:

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i)High cost of living

 

ii)Crowded neighbourhoods

 

iii)Bad air quality and pollution

<td style=“background-color:

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£900-£1,200

 £ 450-£600

<td style=“background-color:

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i)Centrally located and well-connected

 

ii)Convenient access to many universities like NU London, SOAS

 

iii)Multicultural hub

<td style=“background-color:

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i)High cost of living

 

ii)Chronic overcrowding

 

iii)Poor quality housing infrastructure

<td style=“background-color:

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£850-£1,100

 £425-£550

<td style=“background-color:

fff;">£1,000-£1,500

<td style=“background-color:

fff;">

i)Lower cost of living

 

ii)Well-maintained green spaces

 

iii)Entertainment venues and sports facilities

<td style=“background-color:

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i) Limited accommodation options

 

ii) Distance from the city centre

<td style=“background-color:

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£400-£850

£200-£425

<td style=“background-color:

fff;">£900-£1,500

<td style=“background-color:

fff;">

i) Peaceful and relaxed environment

 

ii)Plenty of job opportunities

 

iii)Good public transport

<td style=“background-color:

fff;">

i) Highly expensive

 

ii)Distance from the city centre

 

<td style=“background-color:

fff;">

£900-£1,500

£450-£750

<td style=“background-color:

fff;">£1,300-£1,800

<td style=“background-color:

fff;">

i)Vibrant and diverse area

 

ii) Ample leisure amenities

 

iii) Good transport facilities

<td style=“background-color:

fff;">

i) High cost of living

 

ii) High crime rates

 

 

<td style=“background-color:

fff;">

£950-£1,200

£425-£600

<td style=“background-color:

fff;">£1,350-£1,800

<td style=“background-color:

fff;">

i) Centrally located

 

ii) Culturally diverse with the right balance of hipster and mainstream atmosphere

 

iii) Good public transport facilities

<td style=“background-color:

fff;">

i) Rising housing prices

 

ii)Noisy and overcrowded streets

<td style=“background-color:

fff;">

£700-£1,100

£350-£550

<td style=“background-color:

fff;">£1,300-£1,800

<td style=“background-color:

fff;">

i) Affordable housing

 

ii) Green spaces and facilities for outdoor activities

<td style=“background-color:

fff;">

i) Noisy and overcrowded

 

ii)Non-integrated community

<td style=“background-color:

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£800-£1,200

£400-£600

<td style=“background-color:

fff;">£1,000-£1,500

Area	Advantages	Disadvantages	Average individual rent expenses for shared accommodation(per month)	Average rent for studio apartments(per month )
Central London	fff;">i)Proximity to well-known educational institutions like LSE   ii) Diverse student population   iii) Vibrant social and cultural life	£1,300-£1,800
Spitalfields
Wembley
Richmond
Stratford
Shoreditch
Finsbury Park

Now that we’ve explored the different types of neighbourhoods and student accommodation in London, let’s dive into some practical tips on finding affordable flats in the city. 

Start Your Search Early

London is a competitive rental market, so it’s essential to start your search as early as possible. This will give you a wider range of options and increase your chances of finding affordable student flats in London that suit your needs.

Use Online Platforms and Student Forums

 Online platforms such as Zoopla, Rightmove, and Gumtree are excellent resources for finding available student flats in London. Additionally, join student forums and Facebook groups where you can connect with other students who might be looking for flatmates or have recommendations for affordable accommodations. 

Be Flexible with Your Requirements

 Being flexible with your requirements can open up more options for affordable student flats in London. Consider compromising on certain amenities or room sizes if it means finding a more budget-friendly option.

Now that you’ve found your ideal student accommodation in London, it’s time to establish a budget and manage your finances effectively. Here are some tips to follow:

• Calculate Your Expenses
• Set a Realistic Budget
• Track Your Spending
• Save on Utilities
• Cook at Home

Tip: Did you know? With the help of the Niyo Zero Forex Card, you can save on transaction and forex charges while booking accommodation and paying rent in British pounds! The Niyo card offers numerous advantages: Zero Forex Markup, Broad Acceptance, Free Lounge Access, No TCS, and more.