Student House Shares: Learn how to save money in a shared flat

All for one and one for all - at least that’s the idea! House shares are the most affordable option for students looking to save money, split the bills, and bite off a more manageable deposit.

If you’re looking for a student house share and want to learn how you can save money once you move in, Chester Student Lets has a few top tips to keep your bank balance healthy…

1. Work out your share of the bills

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When you start your tenancy in a student let place, break down all the bills and figure out what your share is at the beginning. This will keep everything transparent, and give you an idea of what your monthly budget is.

2. Put someone in charge

After you’ve divvied who needs to pay what, there needs to be a nominated bill payer, as most bills are direct debited. This requires everyone in the house share to be timely with the bill paying. We recommend that all members of the household pay in their share a few days before the bill-payer’s account is debited, so your bills don’t bounce and affect your credit rating.

3. Look out for house shares with ‘utilities included’

With Chester Student Lets, all houses have bills included, so you never have to stress about everyone paying their share! This is a great option if you are not sharing with friends, or are a little nervous about managing the bills, as you will just be required to pay one fixed amount.

4. Find out what appliances your student house share comes with

It may seem odd, but some places don’t come with standard electronics like a kettle, toaster, microwave, or even a TV, and if they don’t, you might need to factor the costs of those items into your moving in budget. The same goes for pots, pans, and cutlery. See what’s available and what is provided in your house share, then speak to your roommates about what they can bring to the house when they move in, as if they have spare items they can bring, you’ll all save money.

5. Keep a float

You don’t want to be the roommate stuck paying for toilet paper or dishwashing liquid all the time, and a float can really help with this. Agree on an amount that everyone puts in (say £5-10 each) at the start of the tenancy, and keep the kitty available for household items. So if you run out of something important, you won’t be expected to foot the bill every time. When the kitty runs out, you can all put in again.

6. Cut down on unnecessary costs

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This means not signing up for Spotify, Netflix, Prime, Hulu accounts as soon as you move in. But don’t panic, there are plenty of workarounds available. For instance, you and your roommates can all go in on the subscriptions you want for your house share, or maybe convince Mum and Dad to upgrade to family accounts (and give you their password!).

7. Share the cost of groceries

Sure, you may want your own personal jar of Nutella, but for many standard items like bread, butter, milk, and condiments, it’s easier and cheaper to just get them for the house. It’s also worth joining a wholesale store, like Costco, where you can bulk buy essentials like toilet roll, shampoo, and cleaning products for a much cheaper rate.

8. Cook at home

Whether you cook together or solo, you can save a ton of money by just holding back on how much you eat out. Cooking together will also help you save costs, and cut down on waste.

9. Keep an eye on the lighting and heating

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There was a reason your mum was always telling you to switch off the lights when you left your room, leaving your utilities on can really ramp up the price of your bill. Be conservative with heating too, i.e. invest in some flannel pajamas and a hot water bottle, and don’t keep the heating on all night.

If you’re still looking to secure your perfect student home, please call 01244 374650 and select option 1 or pop into the hub on Garden Lane, we'd love to meet you!