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As a tourist I have visited London & stayed there for a total of 2 months...
However,a tourist cannot understand the true cost of living in that great (..apart from...RHD ) city...
So,I welcome testimonies from individuals or couples who actually live in London informing us about the true cost of living there...
Specifically,
salaries,
mortgages/rents/property taxes,
social security tax.
income & other taxes.
utilities,heating,
car expenses ( loan payment,insurance,petrol cost,parking etc)
education,daycare,
food & dining,
entertainment
etc...
I hope this will be an interesting test with true numbers...
Well, we lived in London (most recently) from 2005-2008. London housing is expensive. We lived 30 miles outside of London-(Kent)
rent- 800 pounds- but it was a great 2 level, 1400 sf apt.(HUGE by UK standards) on a river in the center of a town of 100,000. You will have to pay council tax even if you rent- it's like property taxes- ours was about 120 pounds per month.
Utilities- didn't seem that bad really
Salaries- we did ok there- I made 48,000 pounds/ hubby made a bit more. (I am a nurse- but worked in the private sector as an operations manager- he is in IT) Salaries will vary widely, depending on what you do.
Taxes- I really think it was about the same as the US, considering you don't have to pay health insurance (it's taken out of your check)
Petrol- about 8 bucks or so per gallon- but really- you will not drive much. Even 30 miles outside of London, we took the train into work (worked in London) and walked everywhere on the weekends. We bought a small Vauxhall Corsa that was 2 years old for 4000 pounds. It got about 50 mph! My yearly train ticket was about 3300 pounds!
Daycare- I didn't have to pay this, but friends who did seemed to pay about 800 and up pounds per month (pretty high)
Eating out- don't bother- it's expensive and not really good- go to pubs for beer,etc. Pubs are GREAT
West End shows- you can get deals - about 20 pounds per person or maybe less
Even keeping in mind the above numbers- I will say that there were lots of young people who worked for and with me in London that lived fine on much less money. Their standards were a little different, but hey, my 25 y.o. here in the states has different standards for housing, travelling than I do. LOL The young people I know travelled a lot- (as did we)- Europe is at your doorstep, literally
Well, I lived in a bedsit in the mid 80s in Archway north London on £2 an hour from a factory job. Rent and tax took half my £80 a week, leaving enough for food, cigarettes, and the occasional treat. I was poor, but living indpendently for the first time, and as happy as can be.
We would want to live in a suburb of London (40-50 minute train ride) and we currently live in a suburb of Seattle (one of the most expensive). I think they are comparable in terms of location and standard of schools, etc. (I have lived in both places)
1400 sft house in Seattle Suburb (fully updated)=$450-500K
1400 sft house outside A1 ring (needing updating)=$575-650
This is the biggest difference for me. Not to mention the kitchen standards are very poor in the UK. Some kitchens in half million dollar homes are cobbled together messes. It is crazy to me that the housing is of such poor quality for so much money.
Rent for small 2 bed apartment (550 sq ft) is £1250
Council Tax is £150 per month
Utilities around £80 per month
Income tax is around 32% including health
Petrol is £1.13 per litre and car tax is £100 per year
All in all it's pretty expensive considering London rents/mortgages are another 30% on top of that! These are the reasons that my wife wants ti go back to the US so badly!!
We would want to live in a suburb of London (40-50 minute train ride) and we currently live in a suburb of Seattle (one of the most expensive). I think they are comparable in terms of location and standard of schools, etc. (I have lived in both places)
1400 sft house in Seattle Suburb (fully updated)=$450-500K
1400 sft house outside A1 ring (needing updating)=$575-650
This is the biggest difference for me. Not to mention the kitchen standards are very poor in the UK. Some kitchens in half million dollar homes are cobbled together messes. It is crazy to me that the housing is of such poor quality for so much money.
The house prices are in some way a reflection of the comparitive lack of space affecting the price of land compared to the US.
Unlike the US it's often more expensive to live out in the "country" than in the suburbs.
Also in the UK there isn't such an aversion to getting your hands wet (or wearing marigolds!) and washing dishes in the sink.
neither do people rely so heavily on tumble dryers.I never owned one in the UK.
Plus people don't "need" 4 bedrooms and 2 baths if there are just 2 of them living there.
Often older homes or fixer uppers are seen as more desirable as you might get more square footage, a larger (by UK standards) lot and a better area for your buck than with new builds.
Half a million dollars is nothing for a home around London or many other UK cities.
Rent for small 2 bed apartment (550 sq ft) is £1250
Council Tax is £150 per month
Utilities around £80 per month
Income tax is around 32% including health
Petrol is £1.13 per litre and car tax is £100 per year
All in all it's pretty expensive considering London rents/mortgages are another 30% on top of that! These are the reasons that my wife wants ti go back to the US so badly!!
You don't have to go all the way back to the US to find more affordable areas. Here in Salford Quays where tons of new job ops will be opening up thanks to Media City, you can get a larger 2 bedroom apartment for about £700-800.
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