Nancy and Kunle Olaoye rent a 2.5-bedroom flat in London for less than $3,000 per month. The apartment includes a garage, skylight and a washer and dryer.
It worked. Nancy says they even negotiated their monthly rent down from its $2,564 listing price. Today, with rent surging amid rising inflation, she estimates that the property would otherwise rent for $3,300 per month and sell for $1 million.Before the couple moved in to the four-unit property – which Nancy says was built in 1850 by a British lord – they had to pay first month's rent and a hefty security deposit that equated to roughly five weeks of rent, for a total of $4,610.
The Olaoyes pay a fixed rate of $250 per month for electricity and gas. That price will double this month because their fixed rate with their energy supplier is ending, likely because Britain's government raised"We're joining the millions of other people in the U.K. who will be struggling with super, super high utilities," Nancy says.The flat is one of four units in the building, which Nancy says was built by a British lord in 1850.
Put together, the monthly cost is high, and about to get higher. But it's still a bargain, given the low rent. And Nancy and Kunle's high-paying jobs – Nancy works as the global head of marketing and events for a tech company, and Kunle is a strategic consultant – make their cost of living"definitely manageable," Nancy says.Nancy says the flat's historical vibe is very much her style.
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