Soldato
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- Delete *.*
I assume this is sarcasm
Average Salary/Good Salary
- Thread starter palmy
- Start date
I assume this is sarcasm
![[DOD]Asprilla](/styles/overclockers/avatars/8.png){kind=avatar}
Soldato
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- 10 Nov 2003
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- Surrey, by the river
Define central London, as you could easily live in Shoreditch or Clapham on less than £35k. You could probably live in Tower Hamlets for a lot less. However, you'd need more than 70K to live in Westminster or The City.
Soldato
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- 10 Nov 2003
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That sound's like my life, but I can only afford to do it in Surrey, not London, and I earn more than £70k.
Associate
- Joined
- 20 Oct 2004
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Really, £45k? If you think that at absolute best you might get a £225k mortgage then you will never be able to afford a nice house in London.
Nice house in a reasonably nice area = £500k+ Which is unaffordable for most people!
Soldato
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- 4 Aug 2008
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- Manchester.
I would say you need 20k minimum upto 40k when living in the north. I am on 25k and feel I am doing better than average assuming house prices come down slightly. I estimate you need £1k a month lo live off which is really your 20k assuming you want a few luxuries. After the first 20k all the extra income can be disposable assuming you don't have kids/huge mortgage and you can live well.
House prices/wages in London obviously skew the average.
Also I assume we are talking median. If we go down the mean router it is probably much higher seeing as 5% of the country owns 85% of the money.
House prices/wages in London obviously skew the average.
Also I assume we are talking median. If we go down the mean router it is probably much higher seeing as 5% of the country owns 85% of the money.
Share a two bed flat. It's pretty standard rent for the area.
I think you'd really struggle to get (and to afford to pay back) a £225K mortgage on £45K per year.
I think a good salary depends far too much on your circumstances to really give a meaningful answer.
For me, as a single guy leaving in outer London, I reckon I would be very comfortable on anything above £40K.
I take home just under a grand a week and feel fairly well off. My gf takes home around £550 a week. If I weren't saving so hard, I could pretty much buy what I want. To live well in London, you're looking at around 50-60k imo. You can get by on 35-45k.
Soldato
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- 10 Nov 2003
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- Surrey, by the river
Really? I must admit I'd not checked prices and I was just going on looks. A lot of Tower Hamlets, particularly around Spitalfields looks like crap so I thought it was relatively cheap, and it is a big borough.
Associate
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- 20 Oct 2004
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[DOD]Asprilla;12944259 said:
Are people living in backwards land?
Spitalfields is great. But yes, TH is a big borough and there are some seriously rubbish parts and some nice parts. Some of the estates aren't nice at all and bethnal green is just a giant steaming turd. Also TH are the worst council in the world.
Right, so starting next year, I need to live near to Central London. I will be covering water, gas, electricity, TV license, internet, phone, mobile phone and some others I've undoubtedly missed out here.
Also, road tax, MOT, petrol on my car.
Also, paying the relatively higher prices to buy food and drink in Zone1-3 London.
I'd also like to not have to live in a dodgy area. I need a one-bedroom flat and of course, a bathroom and kitchen which are not shared (otherwise they may well be filthy!).
How much will my total outgoings be per week? I'm thinking £350-400 a week. I think it is important for people to be able to at least maintain their living standards - if I want all the luxuries (e.g. car, TV, etc.) that I have now at home, then when I move out, I want the same. No point suffering!
So £400 a week (upper estimate?) would be roughly £21,000 per year (incl. rent). This is excluding holidays - say two a year at £1,500 each. I also need to buy a TV and some other things. In total I'm looking to spend roughly £25,000 to £30,000 in one year. This is using income net of tax.
However, getting on the property ladder is important to build your wealth up. A decent property in Zone 2/3 is going to cost £500,000. At the moment I'd be asked for a 25% deposit of £125,000. Oh, and a large income
.
So anyone saying it's possible to live happily on anything less than £35,000 in Zone 1/2 London should really move out, earn the same amount and see how much better life would be!
For me, I'd want to make £50,000 minimum to begin with, rising to well over £100,000. I'd hate to have to rent my whole life.
Also, road tax, MOT, petrol on my car.
Also, paying the relatively higher prices to buy food and drink in Zone1-3 London.
I'd also like to not have to live in a dodgy area. I need a one-bedroom flat and of course, a bathroom and kitchen which are not shared (otherwise they may well be filthy!).
How much will my total outgoings be per week? I'm thinking £350-400 a week. I think it is important for people to be able to at least maintain their living standards - if I want all the luxuries (e.g. car, TV, etc.) that I have now at home, then when I move out, I want the same. No point suffering!
So £400 a week (upper estimate?) would be roughly £21,000 per year (incl. rent). This is excluding holidays - say two a year at £1,500 each. I also need to buy a TV and some other things. In total I'm looking to spend roughly £25,000 to £30,000 in one year. This is using income net of tax.
However, getting on the property ladder is important to build your wealth up. A decent property in Zone 2/3 is going to cost £500,000. At the moment I'd be asked for a 25% deposit of £125,000. Oh, and a large income
.So anyone saying it's possible to live happily on anything less than £35,000 in Zone 1/2 London should really move out, earn the same amount and see how much better life would be!
For me, I'd want to make £50,000 minimum to begin with, rising to well over £100,000. I'd hate to have to rent my whole life.
Man of Honour
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- 30 Jun 2005
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Thats absolute rubbish, first place I lived in london we had a three bedroom house with a garden, 5 minutes walk to clapham south tube, nice road and it cost £550 a month including all the bills. That was 4 years ago and prices haven't gone up that much since then.
Average in London I'd say is something like 30k, I wouldn't really want to me on less in London. Good depends on more than what's a good salary, if you went to oxford and got a first, good is £75k+, if you went to some ex poly and did a ridiculous course then £35k is good.
Between me and my girlfriend we're bring in slightly more than £100k a year and that's very comfortable at 25 with no kids and no real commitments. Get away three times a year or so, live in a nice place and don't worry too much about day to day stuff.
Man of Honour
- Joined
- 30 Jun 2005
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- 9,515
- Location
- London Town!
Are people living in backwards land?
Spitalfields is great. But yes, TH is a big borough and there are some seriously rubbish parts and some nice parts. Some of the estates aren't nice at all and bethnal green is just a giant steaming turd. Also TH are the worst council in the world.
Wouldn't want to live there myself, had a friend who did and hated it. But they aren't the worst council, that would be Lambeth...
50k minimum to begin with? What planet are you on?
How many people sharing?