House share: the concept of a flat or house-share in the UK has historically been associated with a certain stigma which perhaps arose through people’s experiences at university or from their memories of watching such programmes as The Young Ones on TV!
However, modern day house shares have evolved as a sensible housing solution, fuelled by an increasingly competitive housing market and ever spiralling costs of living. Today’s shared accommodation is populated by a growing number of young professionals, mature students and those waiting to get a foot on the housing ladder.
Living with people is never easy, but if you bear a few things in mind it can be an harmonious experience – just stick to a few simple rules. Firstly, make sure you get adequate flat share or house share insurance. Shared property contents insurance is vital to any sharing situation – especially if you are sharing with strangers. When looking for a suitable shared property look at the locations on offer – you may find that you can afford a much nicer area or a higher spec property than if you were to attempt to rent or buy on your own.
Location is key when looking at properties and you need to consider where you need to live in relation to your working and social life. It is not good ending up in the leafy suburbs if you are going to double or triple your travel costs and so over stretch your budget: it is far better to invest the money in somewhere which is more central for you.
Once you have the location sorted, you need to get over the hurdle of the type of person you are going to be sharing with. There is the possibility that you love the property but loathe the person you will be sharing with! However, there is the distinct possibility that you may well become good friends, so enter into this with an open mind, weigh up the pros and cons carefully. You will likely have to commit to at least six months and when you are sharing with anyone other than immediate family you must make sure you take out house share insurance – although this can be more difficult than getting insurance when living alone. At Westhill Insurance Services we have professional and friendly advisors who can help you find the right insurance to meet your needs and we have a great deal of experience of dealing with property share insurance. Difficulties usually arise when insurers take the view that sharing with anyone other than your immediate family or partner is a non-standard risk. This is not a problem for us and we will provide you with sensible advice, no matter whom you may be sharing with.