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How much should I pay for student accommodation?
Before starting university, it’s natural to have questions surrounding your student accommodation.
For the majority of students, the financial strain of attending university in the UK is alleviated by a student loan. Your maintenance loan can be used to help cover the cost of living costs, including student accommodation.
So, how much should you pay for student accommodation?
The answer to this question is subjective, as everyone’s student finance will be slightly different. This comes down to the fact that your student finance is based on your household income (your parent’s income if you’re under 25) and will thus impact your student loan.
The higher your maintenance loan, the more you can afford to spend on student accommodation. As such, it’s likely that you’ll select your student accommodation in conjunction with the amount of student finance that you get to ensure you’re not stretching yourself beyond your means.
The average cost of rent for students in the UK varies depending on the city. That said, aside from London, in the academic year 2021/2022, Brighton was the most expensive city at £235.93 per week, whilst Sheffield was the most affordable at £132.42.
Generally speaking, half of your living expenses may go toward paying for student accommodation, highlighting the importance of carefully considering where you live.
That said, there are a range of student accommodation options that you can choose from to ensure you’re living within your budget.
There are many factors that impact the price of student accommodation that you should be aware of to gain a better understanding of the cost of student accommodation as a whole.
These factors include:
- Bills-included accommodation
- The standard of room
- The demand for student accommodation
Arguably the factor that will have the biggest impact on the price of your accommodation is location.
This comes down to the fact these cities are highly populated, and ‘higher demand makes living in cities more expensive’.
That said, being centrally located can have a range of benefits, from being well-connected to being surrounded by an abundance of shops and restaurants.
2. Bills-included accommodation.
Bills-included accommodation takes the hassle out of student living for UK and international students alike, meaning you don’t have to worry about organising bills and ensuring they’re paid on time.
Bills-included rooms cover the cost of utilities. Utilities tend to include water, gas, and electricity. For some student accommodations, this will also cover Wi-Fi and a TV licence, allowing you to watch television without risking getting a fine.
As you’ve already got so much to deal with in university, all-inclusive student accommodation can be highly beneficial, especially during your first year living away from home.
3. The standard of room.
A factor that can impact the price of your student accommodation is the standard of the room that you opt for.
For instance, if your student accommodation bedroom has an ensuite or is a larger size, this will impact the price due to the convenience of having a private bathroom in your room or having more space.
On the other hand, if you were to share a bathroom with multiple other students, you could expect to pay less for your student accommodation.
Bearing this in mind, the standard of room you choose can have a significant impact on the price that you pay for your student accommodation.
4. The demand for student accommodation.
Last, but not least, the demand for student accommodation can have a significant impact on the price.
This point links back to the location of your student accommodation, as the demand for accommodation tends to be higher in more populated, built-up areas.
The more students that require accommodation in a certain area, the higher the price of student accommodation.
As such, if you’re attending university in a city with multiple universities, for example, the higher the demand for student housing the more you can expect the price of your accommodation to be impacted.
Why you should choose Host.
At Host, we recognise moving to university is a challenging time for students, and thus always aim to make the transition as comfortable and smooth as possible.
There are a range of benefits of opting for all-inclusive accommodation. From on-site maintenance and 24/7 CCTV for security to fixed room prices, our student accommodation is specifically designed to provide you with peace of mind.
Your utility bills are always covered in the total room price, and our energy prices are locked in. As such, the price you see on the website is the price you’ll pay per week for the duration of your contract, meaning you’ll never have to worry about the rise in energy bills.
From fitness suites to games rooms and study areas, we provide you with the perfect place to call home. So, whether you want to hang out with your new flatmates or need a quiet place to complete your university work, we’ve got you covered.
Contact us today to learn more about our student accommodation.
We hope that this article has given you a better understanding of how much you should spend on student accommodation as well as the factors that impact the cost of student accommodation.
Written by Jemima for Host.
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