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Saving up a 10%, £40k, deposit while renting here is quite tough though, even on 70k. And most devs don't earn that much
by bencoder 9y ago
Saving up a 10%, £40k, deposit while renting here is quite tough though, even on 70k. And most devs don't earn that much
- ig1 9y agoWell lets reverse out the numbers. The median cost of a room in a flatshare in Zone 1/2 is just under £700 month, that's £8.4k/year. Let's assume other costs of living to be £10k/year that gives us a total of £18.4k/year. Let's say you want to save £40k over 4 years, so 10k/year, that would require a take-home salary of £28.4k/year which implies a pre-tax salary of 37k. 37k should be comfortably achievable for a software developer 1-2 years out of uni.
- FireBeyond 9y agoHow many people realistically go from a "flatshare" to a "3 br home" in one step like that?
- ig1 9y agoIt's a fairly common move for people getting married with a plan to have children. But if you rent in the suburbs you can get a similar discount on rental as you get on purchases. (Although the 3-bed was just an example obviously you can get a 1-bed for a cheaper price as well)
- user5994461 9y agoFor £700 a month, you live in a complete dump with 2-4 flatmates. And you still have to add the expenses on top. Food, transport, council taxes, utilities.