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Student accommodation options

When you’re a student, your accommodation options have their pros and cons. It’s important to weigh them up and decide what’s right for you. It helps to ask yourself some questions. Whereabouts do you want to live? Who do you want to live with? What can you afford? Will your accommodation choice affect your studies? Knowing what’s important to you can help when choosing the living arrangement that suits best.

  • When it comes to saving money, this is often the cheapest option. Some families expect rent, but many don’t. Ask your family if you’ll be expected to pay board and contribute to the bills and groceries.
  • If you don’t cope well with change, keeping your living arrangements as they are may mean that your studies aren’t disrupted. 
  • You need to decide between independence and freedom or saving money and stability.

  • You’re always a short walk from your classes.
  • You have a choice of living on your own or sharing with others.
  • Food is generally included in the price.
  • Since you won’t have to prepare meals or clean, you don’t have to worry about sorting chores out with housemates.
  • You’ll be living with other students, so it’s a great way to meet new people.
  • You may find the social life distracting.
  • Waiting lists can apply, so you may not get the hall or house of your choice.
  • Additional fees – such as parking – can add up.

  • Put the money you save on rent, food and bills in a high interest savings account like NetBank Saver or a GoalSaver. Think of it as paying rent to yourself instead of to a landlord.
  • You can share expenses (such as internet/Foxtel, gas, electricity etc.) so it’s a great way to save money.
  • It can be a lot of fun if you love being around other people.
  • You’ll have complete freedom.
  • It can be an affordable way to live in an area you want. You can compare rental prices in different areas on websites like and Flatmate Finders

  • You may not get along with your housemates (so try to choose them carefully).
  • You may end up living with people who won’t help keep the house clean or pay the bills.
  • It might be cramped and noisy when you’re trying to study.
  • Sharing bills and food can be a problem.

  • Set firm rules about who will pay for what to avoid misunderstandings with your housemates. Once you’ve worked that out, you can easily pay bills or make transfers in NetBank to your real estate agent, landlord or housemates.
  • Think about having everyone contribute $20 a week towards a house kitty to pay for shared household costs such as cleaning products and other incidentals.
  • Use our handy student budget calculator to keep track of your spending and see where you could save money.

Student accommodation options

 Enjoy exclusive discounts on a range of banking products with Student Options.

 Keep on top of your bills by setting up direct debits from your Smart Access account.

 Try our student budget calculator to see where your money goes and how much you could save.


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