How much money do I need - Cost breakdown

It is rather tricky to write an accurate guide about how much money ones need. After all you can always buy that latest console or go overboard on summer shopping. We at iStudy are ourselves so diversified in our expenditures that even our ‘mathletes’ couldn't help us with a reasonable average. So we decided to take a borderline approach which will allow for a contented yet budget lifestyle. Whenever we mention any cost, we will also mention the rational minimum and maximum boundaries. The minimums will represent a below average lifestyle while the maximums will represent a 'well-to-do-for-a-student' case.

Accommodation Costs

There are several types of accommodation possible for students during their stay in Germany.

Accommodation at a Student Hostel

• Single rooms on one floor (Wohnheim) with shared kitchen, bath and toilets. Note that the rent depends upon the city and location of the hostels. The rent is higher at big cities like Munich and Hamburg. Usually the maximum is Euro 250 while the minimum is Euro 170. However in most of the case it varies between Euro 180 – Euro 200.
• Single room in a shared Flat (Wohngemeinschaft/WG) – self contained houses with two to six rooms with shared kitchen, bath and toilet. Again the rent depends upon city and location. The rent varies between Euro 200 - Euro 260.  
• Appartments – Single apartments with separate mini kitchen, bath and toilet. Maximum rent Euro 260, minimum Euro 180. Most of the time Euro 220 – Euro 260.
• Appartments – Double apartments with two or more rooms and separate utility rooms rented to students with accompanying spouse/children or students with disabilities or chronic illness. Rent varies between Euro 320 – Euro 480.

Private Accommodation

Private accommodation means renting an apartment or house from a private owner. There are many types of accommodation available, starting from single studio apartments to large independent houses. The rent varies widely depending upon the location, size and quality of housing. You can expect anything between Euro 250 to Euro 600. Renting a house from a private owner can be a bit complicated for first timers so it is a good idea to stick to the student hostels at first and then move on to private housing as you familiarize yourself with the local conditions.

Summary

Type of Accommodation	Suitable for	Cost in Euros			Depends on
		Min	Max	Avg
Single room on one floor (Wohnheim)	Single person	170	250	200	City, Strategic location, Facilities.
Single room in shared flat (Wohngemeinschaft)	Single person	200	260	240	City, Location, Facilities.
Appartments – Single	Single person	180	260	230	City, Availability, Demand, Facilities
Appartments – Double	Married/Family	320	480	400	Availability, Furniture, Condition, Location
Private Housing  - without furniture	Single	250	350	250	Availability, Location, City
Private Housing – without furniture	Family	400	600	450	Availability, Location, City

There is always a caution money which must be paid in advance together with first month’ss rent. In student hostels the caution money is usually equal to two months’ rent. For private housing the amount is negotiated with the land owner, but expected to be between one to three months of rent.

The private houses and some student apartments usually come unfurnished. However one can retain the leftover furniture from the previous renter, but must take responsibility of disposing them at their own discretion.