Housing Spend

No1newts

No1newts

No1newts

Soldato
Joined
24 May 2009
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Location
North East
https://www.theguardian.com/society...sing-than-grandparents?CMP=Share_iOSApp_Other

Hello, I was reading the above and got me to wondering how much most people spend of their post tax income on rent/mortgage on a monthly basis?

I spend about 23% of my post tax and the % in my head I always thought to avoid was around 30%. I know people who spend 40%+ on a monthly basis (mainly people I know in the south east) so I think I'm doing all right but I always wonder if I'm stretching too far.

In general I'm in a good position that even after all my outgoings all bills, kids necessities around childcare and insurances I come out with over 25% of my income as completely disposable so I would say I'm doing ok.

Anyway, just got me wondering if I was generally in a good or bad position comparatively.
 
28% against my salary only for mortgage. As a household though with my wifes salary its about 14% of our monthly household income. We earn near enough the same.
 
I read that this morning. It's a good link to shut up the "why don't you just save harder for a deposit" brigade.

I just checked and I spend 30% post tax. I'd imagine my girlfriend is the same. London innit. The irony is where we live our rent should be a few hundred percent month higher. (Nice landlords)
 
See the other thread about the guy that's not worked for 20 years.

You're either in a really good, or really bad position. Depending how you look at it!
 
i'm looking to buy at the moment and it' going to be around 35% for mortgage and another ~5% for council tax. Which is far more than I want to pay, but i'm already looking at the cheapest flats on the market. The prices are insane around here.
 
31% of my net income goes on mortgage repayment and the associated repayment vehicle.

It reduces to 22% when factoring in my partners net income, but the mortgage was taken on by just me when I bought the house and remains in my sole name at the moment.

I am in the early part of the millennial generation, but was fortunate enough to carve out a good career without going to university, so whilst still stung by the greed of the baby boomers, I am still a little more fortunate than many other millennials.
 
Those of you paying sub 10% you mind telling me your age?

Apart from those lucky enough to inherit some cash or have wealthy parents I find the generational gap that the article shows is so true.

My parents bought a house paying 2% of their income as a mortgage and their house value has increased by over 500% in the time they've owned it. I've had a nice increase in my own property value (which due remortgage time next year may help my payments) but it's scary how much the difference is.
 
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