Question regarding initial deposits for rented properties

[BlackDragon]

Hi all,

I've been moving every year for the past 5 years (first three were at uni), and the past two years have been due to people finding their own places to live.

Now it's my turn to find a place by myself. I've had a look at the properties in my area and I'm probably going to be paying £1250 for the initial rent and deposit.

So about £750+ will be the deposit, and so far I'm moving every year, I always have £750 tied up with the current property, and then need a further £750 for the next property, as I tend to start the contract for the new place before the end of the other one ends so I have enough time to move in.

I'd like to save my money for other things, like saving for a car or a new mountain bike, but currently I'm busy saving for the next property. How do people normally pay for the initial deposit + rent for their rented accommodation?

Do you just save up for it, use a credit card, or an overdraft?

Just wondering what people do and if I could free up some funds

Hope I've made some sense here...

 

[ChroniC]

I'm like you, but I would normally do it on CC then use the deposit for the previous place to pay it off. I can't afford to do that this time, so I'm going to have to stay at the rents over Christmas and wait for the other deposit before using it again.

 

[AdladUK]

Not to sound cruel, but if you're struggling that much to pay the equivalent of just 2 months rent, it's probably not the best time to be living alone.

Take it from someone who has just got their own place, there are ALWAYS additional costs you don't account for and they add up pretty damn fast

 

[cainer]

i would arrange a loan through the bank of mumdad, no interest and no baillifs knocking when i default