With house prices rising all over the UK, renting accommodation is becoming the most popular way to find a home. Finding a rental property that you love is essential as you’ll likely be spending many years in that property.
The housing market in Nottingham has been on the rise. House prices have risen by around 4% in the last 12 months. So if you’re looking to buy a house in Nottingham, deposits and mortgage payments are likely to get more expensive.
It may be more suitable for you to find a house to rent before moving up the property ladder. You still get to enjoy the great benefits of Nottingham without having to buy a house there straight away!
Searching for any housing is challenging, whether you’re buying or renting. Here, we’ll give you a few tips and information about Nottingham to make your search a little easier.
Just like house prices, rent in Nottingham has also been rising. The average rent in Nottingham is around £700-£800 a month. Compared to the rest of England, this figure isn’t too extreme.
Rent in Nottingham is significantly cheaper than in other areas in the south of England like London and Oxford. Average rent prices in these cities are around £1300-£1600 depending on the area of the city.
Therefore, you can save quite a bit of money on rent costs if you’re moving from these areas.
It’s important to note that the rent prices vary a lot on the area the house is in and the type of house you’re renting.
It’s also likely that you won’t have an infinite budget when looking for houses to rent in Nottingham! So it would be best if you know what you need in the house and prioritise your requirements to stay within budget.
For families, you will likely be looking for larger homes fit with more bedrooms. With more family members and kids in the mix, everyone must get their own space!
Because these homes are larger, the rental costs will be higher. You’ll be looking at around £1800-£2000 a month. This is much higher than the average rent in Nottingham, but you get a lot more house space for the extra money!
However, if you’re comfortable renting a non-detached house, the price of terraced housing is a lot lower. You can find a terraced 4-bed house for around £8000-£1200 per month. You still get multiple bedrooms for a much smaller price tag.
Nottingham has lots of different flats available to rent. Depending on the number of rooms in the flats, the prices usually range from £600-£900 per month. If you’re lucky enough, you can find some top-end penthouse flats, but these will take a big chunk from your wallet!
When looking for your rental properties in Nottingham, always consider the types of houses. If you have a set budget, you need to ensure you’re getting the best house for your money.
For example, if you’re looking to commute to work, you may need to buy a smaller house closer to the centre of town to save on transportation costs.
But, if you’re don’t need to travel a lot, then a larger house further away from the town centre woud be a better fit for you.
Nottingham has a prominent student population because of the two major universities. Lots of students from all over England and international travel to study there. Of course, if you’re going to university in Nottingham, you’re going to need accommodation!
As a student, it would be tough to move to Nottingham and buy your own house, so renting will probably be the best option for you. The great thing about Nottingham is there are loads of different options to rent accommodation.
In addition to the types of houses to rent discussed earlier, a popular choice for students is flat-sharing. Flat sharing is when multiple people live in one house, and each person pays their share of the rent.
Flatsharing is a lot cheaper than renting a house yourself, and in Nottingham, it only costs around £200-£300 a month. Saving on rental costs will make your student life a little less stressful and more enjoyable.