14 Jun 2023
Housing options for Gambian expat workers in the UK vary greatly depending on personal preference and budget. The most common options include renting a flat, sharing a house with other expats, or buying a property. Each option has its pros and cons and should be carefully considered based on individual needs and circumstances. Managing residence in the UK is one of the most critical needs for Gambian expats who come here to earn better and send money to Gambia to support their families financially.
The following guide provides valuable information on different types of residences, i.e., renting, sharing or buying your own house/apartment etc., in the UK. It will help you decide which options suit your needs the best, so keep reading.
Typically, the two most common residence options for expats in the UK are renting or buying an apartment or house. Let’s briefly look at these two and find out which one is the best.
As a Gambian expat worker in the UK, you may be considering renting a flat to live in. In this note, we’ll provide a comprehensive guide on how to rent a flat in the UK, including the costs involved, what to look for when choosing a flat, and how to go about the rental process.
The cost of renting a flat in the UK varies depending on location, size, and type of property. Generally, rents in London are higher compared to other parts of the country. On average, a one-bedroom flat in London costs between £900 to £1,500 per month. Meanwhile, rents for a two-bedroom flat in other parts of the UK can be as low as £400 per month.
When choosing a flat, it’s essential to consider your personal needs and requirements. Some factors to consider include the following:
If you decide on your residence in the UK wisely, you can cut your expenses significantly and transfer more funds back home to the Gambia. You can also save enough on every money transfer to Gambia from the UK if you use a trusted service provider like ACE Money Transfer.
Here’s a step-by-step guide on how to rent a flat in the UK:
Sharing a house is a popular option for Gambian expat workers in the UK. This is because it provides an affordable and practical way to live in the UK while working and saving money. However, it is important to be informed and aware of the responsibilities, expectations and benefits of sharing a house.
Gambian expatriate workers in the UK can use ACE Money Transfer to send money to Gambia online to their loved ones. ACE is a trusted provider of international money transfer services and offers competitive exchange rates, low fees, and a fast and secure transfer process. To use ACE, the sender needs to create an account, specify the recipient information and the amount to be sent, and make the payment using a debit or credit card.
As a Gambian expat worker in the UK, buying goods and services can be a challenge due to the differences in culture, currency, and the buying process. However, with the right knowledge and preparation, you can easily navigate the UK market and find the best products at the most affordable prices.
Here are some tips to help you buy effectively in the UK:
The choice between renting, sharing or buying a property in the UK depends on the individual's financial situation, personal preference, and lifestyle. Gambian expat workers in the UK should weigh the pros and cons of both options before making a decision. Regardless of choice, it is essential to seek the advice of a professional to ensure that the decision is financially sound. Once you’ve decided and got settled with the best residential option, you must also look for the ideal way to transfer funds as it impacts your financial stability. Making an economical, secure, and swift online money transfer to Gambia from the UK via ACE Money Transfer is recommended since most Gambian expatriates trust its services.
What are the primary housing options available for Gambian expat workers in the UK?
Gambian expats in the UK typically choose between renting, sharing and buying property. Renting options include private rentals of apartments or houses, as well as shared accommodations. Buying a property is another option, but it usually requires a more substantial financial commitment and a longer-term stay in the country.
What are the requirements for Gambian expats to rent a property in the UK?
To rent a property in the UK, you typically need to provide proof of income or employment, a valid ID or passport, and references from previous landlords or your employer. A deposit and the first month's rent are usually required upfront. The "Right to Rent" check, which verifies your legal status to stay in the UK, may also be conducted.
Can Gambian expats buy property in the UK?
Yes, there are no legal restrictions on foreigners, including Gambian expats, buying property in the UK. However, buying property can be a complex process involving securing a mortgage (if necessary), paying stamp duty land tax, and handling other legalities, so it may be helpful to engage a solicitor or real estate agent.
What is the average cost of renting versus buying a property in the UK for Gambian expats?
Property prices can vary greatly across the UK. The average rental cost for a one-bedroom apartment in the city centre was about £750-£800 per month, while buying a similar property could cost upwards of £200,000, about 2 years ago. Please note these prices fluctuate depending on the city and property market trends.
What are some pros and cons of renting vs buying a property for Gambian expat workers in the UK?
Renting offers flexibility requires less upfront capital, and eliminates concerns about property maintenance or market fluctuations. However, it doesn't provide long-term security or investment growth. Buying can be a good long-term investment and provides stability and the freedom to modify the property, but it requires a significant financial commitment and ties you to one location. Consider your financial situation, career plans, and lifestyle needs when deciding.