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How much rent can you afford?
Look at the net monthly income you will have abroad and then calculate how much you will need to spend on: Food, insurance (e.g. Health, Travel), transport, entertainment/ leisure, other ongoing costs you’ll have (phone bills, subscriptions, payments back home, etc.)
Whatever’s left is – approximately – what you can allocate for monthly rent. It’s always wise to keep a financial cushion of one or two hundred, either to save for the future or for one of life’s unforeseen events.
Once you’ve settled on your absolute rental maximum, you can apply this figure to all filtered accommodation searches.
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Renting abroad: The bills
Maybe your utility bills are not included in the monthly rent. In that case, you will need to pay those on top of the monthly rent, and potentially to someone other than the landlord, e.g. an energy company.
If a bill is excluded from the monthly rent, then it will usually be calculated bas...
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Choosing your preferred accommodation type
- Studio: They tend to be more affordable and more available, though the definition of a studio does vary depending on the location. It usually means living alone.
- House: This is a popular choice for many making the move abroad. A shared house is attra...
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Renting abroad: Upfront costs
Before arriving, you can expect to pay:
- Deposit. Typically, this equal to a month’s rent, but this can vary per advertiser and from country to country. Provided you uphold your end of the contract and there is no damage to the property, you should get the dep...
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Setting your rental budget
Properly managing your finances abroad will have a direct and positive impact on your experience.
The majority of your funds will most likely go on rent. Nowadays, it isn’t uncommon for people to spend around 40% of their monthly income on rent and that’s why, whe...
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