How to Relocate to London Without Spending £2000+ on Rent

Moving to London is an opportunity many seek. It’s exciting, it promises opportunities, and it unlocks a whole new world. However, above it all, it’s expensive. The joke about London prices is nowhere near as funny when it becomes reality. But even that pales in comparison to what it costs to relocate to London. Even before they’ve unpacked, most relocators have already spent well over £2000.

Deposit, first month’s rent, furniture, and moving expenses stack up quickly. When all math is done, the upfront cost of relocating can be overwhelming. However, relocating doesn’t have to be as expensive. In this article, we share some of the ways to reduce London relocation costs.

Why is Moving to London so Expensive?

Moving to a different city is generally costly, but moving to a megacity like London brings additional costs. On top of the usual expenses like moving services, utility setups, and furnishing, it’s important to remember that rent and council taxes in London are much higher than anywhere else in the country.

In addition to that, every move involves unexpected expenses. Transport, congestion charges, unforeseen fees, and many more. If you have a budget in mind to relocate to London, be prepared to double it. With the demand for the luxury of living in the capital never waning, the prices keep climbing. 

The Biggest Expenses Renters Often Overlook

Almost every move-in begins with a double pay: the security deposit and the first month’s rent. However, there are more costs that compete with the initial expenses. And very often they get overlooked as, initially, they don’t appear big or are presumed to be spread out. Alas, things often don’t go as planned. 

Utility Bills and Setup Costs

Paying utility bills is not a foreign concept – every household has to. However, what’s often overlooked is that megacities like London will charge a higher price than suburban towns. Not to mention, different parts of London are serviced by a limited number of suppliers as opposed to those operating all over the country. That makes utility bills unpredictable and impossible to accurately calculate up until after the move-in date. 

Another thing is the setup bill. While most properties will already come with a provider allocated, it isn’t always the case. Things like broadband, for example, are often the tenant’s responsibility. Changing or signing up with a utility provider often comes with having to install additional hardware – cables, smart meters, etc. And while some companies do it free of charge, more often than not, this is a separately paid-for service. 

Furnishing a New Home

While most rental properties come furnished, not only is the furniture often outdated and mismatched, but it also plays into the rent price. As a rule, unfurnished homes come cheaper and can therefore be a more tempting prospect. The caveat in that is that even the cheap or second-hand furniture costs a penny. Given that it’s likely to be left behind as you move, this is a poor investment. 

Not to mention, all this ‘one-time’ furniture is bad for the environment and, even if you hope the next tenant will use it, the chances are they won’t. And if you’re choosing an unfurnished property because you already have the furniture you want to bring along, the moving fees accumulate fast. Especially in London, where the movers’ quotes are inclusive of congestion and parking fees. 

Why Co-Living Makes Relocating Easier

The easiest way to reduce your costs when relocating to London is to opt out of traditional house shares. Co-living is an innovative renting model that’s been growing in popularity in the UK over the past few years, and for a very good reason. From moving to living, it will save you a lot of money in the long run.

Everything Is Ready From Day One

When you move into a co-living building, the only thing you need to do in your flat is to unpack. Co-living accommodations are always furnished, decorated, and professionally cleaned before every resident’s arrival and right after their departure. Unlike old mismatched furniture, you’re greeted with trendy and modern high-end furnishings as well as high-quality technology. 

For example, at The Rex, every ensuite flat comes with a 32-inch Samsung TV and Smeg equipment in the kitchenette. Of course, the residents are more than welcome to bring in their own pieces of furniture and decorations to customise the space. However, especially for those who relocate to London from abroad, tastefully furnished modern flats are nothing short of a welcoming hug. 

Less Admin, Less Stress

Another tempting characteristic of co-living is that you don’t have to worry about any of the utilities. Other than those of your personal use, of course, like the TV licence. Gas, electricity, wifi, and even the council tax are all included in your monthly rent. That means you won’t have to pay any hidden bills, deal with the suppliers, or spend hours on hold whenever something goes wrong. 

To add another layer of convenience, your safety is handled for you, too. For example, at The Rex, we have a 24-hour concierge, meaning there is always assistance. Finally, forget about hunting down all the parcel boxes from different providers – most co-living buildings will have them situated downstairs ant the mail room. Whether you want to send or collect a parcel, all you need to do is go downstairs.

The Hidden Value Beyond Saving Money

When relocating to London, saving money is more than a financial benefit. Being money-smart with your move will also save you time, ensure a better work-life balance, and come with predictable monthly costs moving forward. All you need to do is take your chances and be a little innovative. 

Why More Young Professionals Are Choosing All-Inclusive Living

It’s gotten progressively harder to get your foot in the door when it comes to living in London. While living in the capital brings opportunities, networking, career growth, and an all-around exciting lifestyle, it comes at a high price. Literally. On top of rent and bills, young professionals have to worry about relocation costs, too.

Although oversaturated with people, London would miss out greatly on losing its stream of young professionals. That’s why a new approach to housing was developed and introduced – all-inclusive living in the form of co-living. Not only does it allow young people to get on with lesser investments, but it also allows them to become a part of the community quickly, without suffering through the period of big city isolation. 

Summary

Young and ambitious professionals were always flocking to big cities in pursuit of success. While this was never easy, in recent years, the budget required to relocate to London has skyrocketed. Paying the movers, the deposit, the first month’s rent, and transport expenses is rough on any bank account. The mistake many make is believing this is where the initial investment ends. Unfortunately, what gets overlooked is other London-price-inflated essentials: utilities, setup costs, furnishings, and emergencies. In other words, it may seem that starting a comfortable life in the capital is practically impossible.

Although moving to a new location will never be cheap, there are ways not to overspend when relocating to London. It’s been recognised that the city is becoming almost unachievable for young people, which affects both the workplaces and the social scene. Hence why alternatives to traditional renting and house shares came to be. Namely – co-living. Offering great locations, modern flats, high-end amenities, furnished flats, all-inclusive bills, great communication links, and an integrated community, co-living buildings are practically designed with young professionals in mind. They save time and money when moving and in terms of available conveniences, without sacrificing the quality. So, if you’re a young professional looking to relocate to London, look into co-living!

And since you’re already here, why not begin with The Rex?