Saving Money on Student Accommodation

Image by Tulane Public Relations

 

Although the next academic year might seem a long way off, if you want to find the best student accommodation on offer, the ideal time to look is at the start of the year when there is still plenty to choose from. Saving money is a high priority for students, so follow these suggestions during your accommodation search.

Self-catered halls

If staying in halls is still an option, opt for a room without an en-suite and in a hall where your meals aren't catered for; you can expect to see your weekly room rental cost at least halve if you do this.

Arrange your own accommodation

Avoid letting agents who will charge you significant administration fees and instead look to the numerous internet sites that advertise rooms to rent in student houses. An even cheaper option is to become a lodger; it's perhaps not the image that a lot of students are looking for, but the standard of accommodation in someone's home is usually much better and you know that if anything breaks down it will be quickly fixed. Staying with your parents or another family member might be your last resort, but is probably the best way to save money on accommodation.

Short-term lets

If you are only going to be in the university town or city for 9 months of the year, do you really want to pay for the extra 3 months accommodation that you won't make use of? It's easier to find shorter-term lets than you might think and you can put the money saved towards enjoying yourself all the more during the months you are at university.

Don't forget utility bills

Although you may initially discount properties where the bills are included due to the higher price you will pay in rent each month, in the long run it might actually be a cheaper option to take one of these on; you can use as much electricity, hot water and heating as you want without worrying what the next bill will be. If you will be paying your own utility bills, one of your first jobs should be to find the cheapest supplier you can for gas and electricity, as with the landlord not paying the quarterly bill you can guarantee they won't have opted for the best deal.

Disclaimer

All content is for informational purposes only and is the opinion of the author. Nothing on this website should be interpreted as "advice". Money Dashboard Ltd make no representations as to the accuracy, completeness, suitability or validity of any information on this site and will not be liable for any errors or omissions or any damages arising from its display or use.

Get started today with Money Dashboard

Money Dashboard will help you discover where your money is going, start saving and plan for the future - for free

Related articles

Download app