Essential Things to Know Before Making the Big Move to London
Suppose you want to pursue a career, enjoy a myriad of social and cultural opportunities, and generally grow and flourish as a person. In that case, life in the capital might hold a special kind of appeal.
But living in London can be overwhelming when you first arrive. If you want to give yourself the best possible chance of hitting the ground running, then there are a few things you can do to prepare yourself.
Unlocking the London Housing Maze: Renting Realities
The first thing to realise is that life in London is very expensive. And nowhere is this more apparent than in your housing costs. The rental market here is extremely competitive, and this is reflected in the price you pay.
The supply of rental accommodation in London, in contrast with that of the rest of the country, is growing at a low rate of just 6%. The result is considerable competition.
To secure a tenancy, you’ll need to be aware of the process of doing so. You’ll typically view the property, apply for it, and go through a number of checks. You’ll then sometimes be asked to pay a holding deposit, so that the property can be held for you (and taken off the market).
Having done all this, you’ll enter into a tenancy agreement and pay your security deposit (along with the first month’s rent) up front.
Estate agents in London can be invaluable allies for first-time buyers. They’ll help you to understand what can be a complex market.
Mastering the True Cost of Capital Living
Of course, living in London comes with other costs. These should be noted and managed. For example, the council tax you pay can vary a great deal from one part of the city to the next.
The amount you pay for gas and electricity will also vary, along with your transport and food prices – especially if you’re eating out. As such, noting the average cost of living in London is not particularly useful unless you know where in London you’re going to live and how you’re going to be living there.
According to ONS earnings data, the median salary in London is around £44,370.
Navigating Transport and Zoning Changes
If you want to enjoy life in the capital, you’ll need to understand how transport works. This mostly means getting to grips with the tube and bus services. This is easily done using contactless payments. There’s a fare cap system that will prevent you from racking up huge bills – but if you’re constantly travelling across zones, the costs can still be considerable.
If you own a car, you’ll also need to consider the congestion charge and the ULEZ zone. Make sure that you know exactly how much extra costs your vehicle will incur.
Finding Your London Village: Boroughs and Culture
London can be thought of as a selection of tightly-packed boroughs, each of which offers something slightly different when it comes to culture, work, and living costs. In Zones 1 & 2, you’ll face higher costs than you would on the outskirts. Certain areas, like Camden, have a unique appeal to artists and creatives; others, like Richmond, have more of a family vibe.
