FAO Londoners - salary to live in London (and enjoy yourself)?

[TS7]

I spend a lot of time in London, I love the city, the constant stream of things going on, the choice of food and restaurants, venues, architecture etc etc

I'd quite like to live in London for a couple of years while I'm young and get it out my system so to speak. I'd always like to live near London or in Greater London but realistically, in the long term when / if I get married / children - living in central London and spending obscene amounts on a mortgage to live in somewhere tiny is not something I want.

Now here comes my question, what's a realistic salary to aim for as a minimum to live in London approx Zone 3 area, 1 bed flat/studio and also be able to enjoy yourself in terms of actually utilising what London has to offer (I know this is a bit vague, but you get the gist; restaurants, theatres etc).

Are there costs that I'm not taking into account?

 

[TS7]

I was sharing a flat and living in London and still having a good time for around 30k. Living solo for that amount is possible but money will be a lot tighter after bills etc...

Good point; having a partner would make things easier as splitting rent/bills etc. But at the minute these plans are for a solo move.

I assume you mean rent, as you'll struggle for a mortgage but I'd imagine 40 to 50k+

(to be honest I'd want 20+% more than that though for the pain of living in London.

Yep I meant rent.

 

[TS7]

Flat share and 30k or 40k would be awesome for a few years, you'll be a wreck after 5 years Camden Islington around that area I'd go for. If you work in the city or docklands it's an easy reverse commute

By flat share you mean you have your own room but kitchen and bathroom, living room all shared? Living in shared accommodation at uni has really put me off this and I at least had an ensuite! ; not a very good experience at all. However I suppose if I could find similar professionals / normal people it could work and I'd save a lot of money..

 

[TS7]

Great information so far. The figure I head in my head based on my rough calculations was 35k so it's good that is being reaffirmed by you guys with experience of living in London.

I don't drink alcohol but I do dine out a lot

 

[TS7]

I don't live in London personally, but I've a lot of friends that do. One earns 35k and his parents have to help out as it isn't enough, he has a flat share with a friend. Another earns 50k and that just covers the rent on a one bed flat for him and the missus. They rarely ever go out, finances too thin, they have no debt at all. It really depends on what you class as "comfortable living".

If I was single I wouldn't even entertain working in London for less than £50k. But I have a family to support, so would turn my nose up at anything paying less than £75k now. And yes, I work for a Bank lol.

Yea something not right there. Finances too thin earning 50k and having a partner (who I would assume also works) - they're either lying about wages or have spending habits