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The appeal of communal living is partly that it is much cheaper than living alone. Since the credit crunch began in autumn 2007, the need to cut living costs has resulted in an increase in the number of people who choose to share a flat or house rather than rent on their own.
Figures from the website Spareroom.co.uk show that an estimated 143,000 people have joined the ranks of flat and house sharers in the past two years, taking the total number in the UK to 2.8 million. Almost 60 per cent of those surveyed said that the main reason they had opted to share a home was cost. The website calculated that the average annual saving on rent and bills for a person sharing a two-bedroom flat with one other person was £3,265, compared with living alone in a one-bedroom flat. If you are prepared to live with more flatmates, the savings are even greater. Four people sharing a four-bedroom house will each save £4,034; if five share, the saving is £5,200 each.
These calculations are based on the lower cost of gas, electricity, water, council tax, broadband, TV licence, phone line and satellite TV for those who share homes.
Matt Hutchison, director of research at Spareroom.co.uk, says: “It is always difficult to rent and seriously save at the same time. Many first-time buyers regard flatsharing as a way to reduce their outgoings and make substantial savings towards a house deposit.”
Sharing might save money but it also means compromising on privacy. Cleanliness of communal areas is one of the biggest concerns among flatsharers. However, Spareroom says that you can rent an en suite room for an average of £22 a week, which at least saves on long queues in the morning.
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