Studying abroad is like opening a door to a world full of new experiences, diverse cultures, and top-notch education. It’s a chance to learn, grow, and create unforgettable memories. But along with all the excitement comes a challenge that many students must face—the high cost of housing.
In this blog, we’ll explore the reasons why is your student accommodation so expensive and what makes it such a significant part of the study abroad journey. We’ll also share tips on how to navigate the housing market and manage these costs, helping you focus more on your studies and your abroad experience.
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6 Reasons- Why is Your Student Accommodation so Expensive
Have you ever wondered, ‘Why is your student accommodation so expensive?’ While studying abroad offers countless opportunities, the cost of housing can often be a shock. Here, we will share few reasons why student accommodation can be so expensive. These include location, amenities, maintenance and repairs, furnishings, demand, short rental periods, and security.
Location Plays a Primary Role
Location plays a significant role in the cost of student accommodation. Universities and colleges located in major cities or popular student areas tend to have higher rental prices. This is because the demand for housing in these areas is high, and landlords can charge a premium for their properties. If you are renting accommodation in the city centre, you can expect to pay more than the accommodation located in countryside areas or away from the university campuses.
If you are looking for best accommodations which are nearby to your university, try these accommodation listing options:
- Housing for Students in United Kingdom
- Housing for Students in Australia
- Housing for Students in Canada
- Housing for Students in Ireland
- Housing for Students in USA
Nearby Amenities are the Added Perks
Many student accommodations come equipped with a range of amenities, such as a gym, pool, and communal areas. These facilities are designed to make student life more comfortable and enjoyable. However, they also come at a cost. Landlords need to cover the cost of maintaining and running these amenities, which is reflected in the rental price.
On-site Maintenance and Repair Facilities
Landlords are responsible for the maintenance and repairs of their properties. This can include fixing appliances, repairing leaks, and carrying out general upkeep. The cost of these repairs is often factored into the accommodation rental price. Additionally, student accommodations may require more frequent maintenance due to the high turnover of tenants. This helps students avoid the management of numerous bills while managing studies simultaneously.
Availability of Fully Furnished Accommodations
Many student accommodations come fully furnished, which is convenient for students who are moving away from home for the first time. However, furnishing as well as maintaining a property can be expensive for property owners, and they may pass this cost onto tenants in the form of higher rent. Furnished accommodations also require more frequent maintenance and may need to be replaced more often than unfurnished properties.
The more in Demand Higher the Price
The demand for student accommodation is high, particularly in popular university cities. This means that landlords can charge higher prices for their properties, knowing that there will be students willing to pay. Additionally, the competition for accommodation can be fierce, with many students competing for the same properties. This can drive up prices further.
Check out a few budget friendly student accommodation options:
- Student Accommodation in Atlantic Point
- Student Accommodation in Orion Point
- Student Accommodation in Emily Bowes Court Unite
- Student Accommodation in Cambridge Court Unite
24/7 Security System
Student accommodations often come with added security features, such as CCTV, secure entry systems, and onsite security staff. These features are designed to keep students safe and protect their possessions. However, they also come at a cost, which is reflected in the rental price resulting in expensive student accommodation.
When asking, “Why is student accommodation so expensive?” one important thing to consider is the extra costs like utilities and additional fees. Although the rent might seem low at first, students often end up paying more due to these hidden expenses, which can add up quickly and make the overall cost of living much higher.
- Separate Utility Bills: Some student accommodations charge extra for water, gas, and electricity, which increases overall costs.
- Unpredictable Energy Costs: Heating and cooling costs can vary, leading to unexpected bills, especially during peak seasons.
- Extra Service Charges: High-speed internet, laundry facilities, and parking may come with additional fees, raising the total cost.
- One-Time Fees: Move-in charges or cleaning fees can surprise students and add to their monthly expenses.
- Mandatory Insurance: Some accommodations require students to pay for insurance, which adds to the overall housing cost.
Tips to Manage Student Accommodation Expenses
Now that we’ve explored the reasons why is your student accommodation so expensive?, let’s dive into some helpful tips to manage your accommodation expenses more effectively. Here, we’ll share some useful tips and strategies that can help you reduce housing costs, find affordable options, and make the most of your budget while studying abroad.
- Opt for shared housing or apartments to split costs with roommates and reduce your rent.
- Look for places close to your university to save on transport costs.
- University-managed accommodation often offers competitive prices and includes essential amenities.
- Plan how much you can spend on accommodation each month and stick to it.
- Book your accommodation early to get better prices and avoid paying more later.
- Don’t hesitate to negotiate rent with your landlord, especially if you’re signing a long-term lease.
- Many places offer discounts for students, so always ask!
- Be mindful of electricity, water, and heating usage to keep utility bills under control.
- If you’re staying for just one semester, look for short-term rental options.
- Check different neighborhoods to find affordable places close to your university.
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FAQs
Student accommodation can be costly because it includes hidden expenses that aren’t always apparent at first glance. In addition to the rent, students often have to pay for utilities, maintenance, and security, all of which contribute to the overall price.
On average a one-bedroom studio or apartment in the UK costs around 600-740 GBP. While renting shared bedroom apartments with a capacity of 3 to 5 students ranges between 970 to 1250 GBP.
An all-inclusive bill like electricity, internet, water, and gas are generally included in almost 4 out of 5 student accommodations.
The reasons include Fully Furnished Accommodations, 24/7 Security systems, demand for higher prices and more.
Yes, location plays a significant role in the cost of student accommodation.
Amenities such as gyms, study rooms, laundry services, and social areas are often provided as additional features, and the cost for maintaining these facilities is reflected in the rent. Charges for these amenities can increase the overall accommodation cost.
When a student migrates for overseas education, he may need to rent an apartment or accommodation for the time. As a guest living in a rented housing facility, the student needs to pay a particular amount for using the apartment perks and facilities known as a student accommodation fee.
Private rooms generally cost more than shared rooms, as you are paying for more privacy and space. While sharing accommodation can reduce the rent, it also means sharing the common areas with others.
Yes, prices can vary widely depending on the city. Large cities or student hubs with high demand, like London, New York, or Melbourne, often have higher accommodation costs due to the scarcity of housing and the increased competition for available spaces.
Rent for student accommodation often increases each year due to inflation, higher maintenance costs, and rising property prices. Rent increases are typically outlined in the lease agreement and can sometimes be a fixed percentage or tied to inflation rates.
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