I'm planning my first trip to Europe/London, so I'd appreciate any help I can get!

My best friend and I want to go over the second week of July for the Harry Potter premiere (I know, I know. We've been fans since '98, though). I understand airfare is typically higher in the summer months, and I am finding flights between $1,150 and $1,400 from the Chicago/Indy/Detroit airports. My question is: do I buy now or wait it out for fares to get cheaper? WILL fares get cheaper?

Also, how are the hostels in London? My friend and I are both recent graduates and therefore not by any means wealthy, so we figured we could save a lot of money with some of the hostels I'm finding. Are some of the more famous ones actually safe? What's a typical night like in one?

We know to plan for expenses for flights, passports, travel insurance, food and lodgings - but are there any unexpected costs we should anticipate?

Thank you so much to anyone that can help me out. I appreciate it!

I would like to address your question about airfare. This question comes up a lot on this board and it's impossible to predict what fares will do but I will offer my best guess anyway.

The price of crude oil is about $15/barrel higher than it was this time last year. This raises the price of jet fuel which in turn raises the price of airfare. I don't see crude oil prices dropping in the near future as the turmoil in the Middle East is keeping crude oil prices high.

Of course there are other factors that determine the price of your ticket but IMO prices will not drop anytime soon. You could give it a little more time but don't expect a whopping savings, especially in the high season month of July.

I don't do hostels so I hope someone else can help. Enjoy your trip.

Thanks, P_M. I never realized buying plane tickets could turn into such a poker game.

What sort of rates are you finding at hostels and which ones? There are some decent hostels in London --but also some pretty nasty ones.

There are lots of budget hotels that may not cost much (or any) more than a nice hostel. Also-- If you have credit cards -- priceline is terrific for London hotels.

Also--university student lodging can be very cheap (but popular and they do tend to book up)

Have you requested e-mail notification by both your local carriers and sites such as Orbitz, Travelocity, Travelzoo, Mobissimo, Cheaptickets, or Kayak? There are lots of fare searchers out there. My daughter and I have recently saved about $350 each on a trip to Sicily from what we first found.

Have fun planning. Others should chime in soon about hostels. I don't have firm facts about airfare so won't say.

Other costs? Ground transport (tube and bus in London). There are tons of threads here about London travel, so check back when you have some more of your itinerary planned. How to get from airport to rooms will be a decision--and can be expensive, so take that into account. (Cheapest is tube, but that only works easily if your rooms aren't too far from a Picadilly line stop. Avoid Heathrow Express, to save money. Taxis are very expensive, too. A car service like justairports is great.). Lots of stuff is free in London but a couple of my favorite places aren't--the Tower of London and Westminster Abbey. So depending on what you want to see, you will want to take into account sites. You can save food money by eating in pubs (ubiquitous and most have decent food--order at the bar and no tipping expected!) and/ or grabbing take-out from lots of places. I never bought travel insurance; others have other opinions--but my medical insurance covers any medical expenses, so....

You need to allow for sightseeeing and nightlife. In London some of the museums and sights are free - but others can be pricey (entrance to the Tower of London is almost $30). And while a beer in a pub can be inexpensive - eps if you goto a student place - mixed drinks of any type are very pricey.

Also - local transit. You can save money by buying a pass - but London is far too big to walk everywhere.

Go to the Let'ss Go or rough Guides to get into on hostels. Many are fine. Some are full of drugs, dicey people and dirt.

janisj's suggestion is worth following up. In July university halls should be open for vacation lettings. Try

http://housing.london.ac.uk/cms/shor...residence.html

You might also try the Thorntree forums as they are a bir more oriented towards backpackers and hostellers.

Here's a website with listings of free sites in London that may help you keep the costs down:
http://www.londontown.com/London/London_for_Free_2008

It looks like you are going for a week, so a 7 day zone 1-2 transit pass will likely be the most affordable way to get around. It gives you access to tubes, buses. There are two formats of this that get alot of debate here - the Oyster, which is a card you tap on the barrier to get access, or a paper national rail ticket. both offer the same access to tube and buses, but hte paper ticket is purchased at national rail stations throughout London (lots are attached to tube stations - we can tell you the nearest one to your hotel when you have that sorted. The benefit of getting the paper ticket is that you can then get access to 2for 1 deals for lots of the more expensive sites - like the Tower. Details can be found here:
http://www.daysoutguide.co.uk/attrac...or1london.aspx
Note - these deals are not avaialble if you choose the Oyster.

Have fun!

The 7 day transit passes will cost you £27.60 by the way. This will not include Heathrow transport so you will need to factor that in as well. It will be about £5 each into central london on the tube.

If you'll be there a week, a lot of people here recommend apartments. You could do some of your own cooking, eat breakfast in, etc. and save a little money on food.

While I can't recommend the hostel we used in London, I will recommend the YHA chain of hostels - www.yha.org.uk Many have double rooms, and some have self-catering kitchens you can use.

Lee Ann