Housing Spend

Ours is about 9% of net joint income but we are near end of mortgage, was prob double that in percentage terms at start
 
29% of joint income

'Millennial', though only just (turned 18 in 2000). Even if I'd been able to buy my first house two years earlier (bought in 2006, age 24), that percentage would have been about 5% lower. Being a millennial really is a pretty accurate cut-off point for getting ****** over on housing costs.
 
I pay about 13%, the missus pays 8%, it's a 50/50 split, but she earns more than me. We also overpay, with her paying slightly more at 12% to my 11% meaning I pay about 25%, she pays 20% in total. The joys of house prices in the north west means we hope to have it paid off in about 10 years.
 
No1newts said:
Git :p:D
Click to expand...


:D

tbh we never got greedy by upsizing althouygh we were tempted once or twice. We extended once but otherwise stuck with the house we bought 19 years ago and over paid in that time to bring the terms down. We were lucky though.. The timing was when banks didn't lend out as easily as what they do today so house prices were relatively cheap.. My advice to anyone, overpay your mortgage if you can..

It shocks me to read about peoples mortgages above.. Frightens me even because my kids have no chance of ever owning a house..
 
Admiral Huddy said:
:D

tbh we never got greedy by upsizing althouygh we were tempted once or twice. We extended once but otherwise stuck with the house we bought 19 years ago and over paid in that time to bring the terms down. We were lucky though.. The timing was when banks didn't lend out as easily as what they do today so house prices were relatively cheap.. My advice to anyone, overpay your mortgage if you can..

It shocks me to read about peoples mortgages above.. Frightens me even because my kids have no chance of ever owning a house..
Click to expand...

Yeah when I get the offer of my payments coming down (fingers crossed I should be at 75% LTV) if it comes down by over £100 I'll probably keep the £100 but anything over and above pay as additional on the mortgage on a monthly basis. We've controlled our term (and terms) relatively well but I want my mortgage done by 55 at the latest so I can look to ease off work wise.
 
25% on rent. Looking to buy in the next couple of years but think it will be about the same, maybe ~30%. Early 30s. Expecting to buy once and that'll be it forever.
 
Mortgage alone is going to be 25% post tax. After bills, fuel and food there isn't going to be much left :o But it's better than renting and paying the same if not more. It's also nice to know that should I get a lodger/paying SO I'll have a decent chunk of disposable income but with the fall back of it being affordable on my own.
 
Mortgage is 21% for me but I am overpaying by a fair amount every month in an effort to get rid of it.
 
28% of my income after tax goes into joint account and mrs puts in around 38% of her after tax income (her income is much less than mine), but this covers all bills as well as mortgage.
 
You must log in or register to reply here.
Back
Top Bottom