Little Professor Posted June 15, 2007 Share Posted June 15, 2007 Hi guys, I was just wondering how much you are paying in rent as a proportion of your income. I'm currently paying 20% of my net monthly income on rent, but am planning to upgrade to a place that is around 30%, and am trying to find out how that compares to other HPC'ers. Quote Link to comment Share on other sites More sharing options...
mrphil Posted June 15, 2007 Share Posted June 15, 2007 Currently paying 27% of net pay on rent. Quote Link to comment Share on other sites More sharing options...
stuckmojo Posted June 15, 2007 Share Posted June 15, 2007 I currently pay 22.30769230769231% of my income in rent. I used to pay 28.846153846153843% and I feel a huge difference in disposable income.... Quote Link to comment Share on other sites More sharing options...
Deny Posted June 15, 2007 Share Posted June 15, 2007 50% - the gutting thing is my rent is 'low' (!) compared to anything else similar I could get, and my wages are average for the area. Time to diversify. Anyone want to buy any coke, weapons, or Filipino women?? Quote Link to comment Share on other sites More sharing options...
sossij Posted June 15, 2007 Share Posted June 15, 2007 Hi guys, I was just wondering how much you are paying in rent as a proportion of your income. I'm currently paying 20% of my net monthly income on rent, but am planning to upgrade to a place that is around 30%, and am trying to find out how that compares to other HPC'ers. Approx 10% Quote Link to comment Share on other sites More sharing options...
Europa Posted June 15, 2007 Share Posted June 15, 2007 Hi guys, I was just wondering how much you are paying in rent as a proportion of your income. I'm currently paying 20% of my net monthly income on rent, but am planning to upgrade to a place that is around 30%, and am trying to find out how that compares to other HPC'ers. I suspect you'll get some rather unrealistic answers. This lot claim to pay buttons to the land-lord, save four figures a month in preparing for the "great crash", while enjoying the life of Riley Oh, probably doesn't help but my mortgage is 15 per cent of gross monthly income. Renting a similar property would push this up to 28 per cent. Quote Link to comment Share on other sites More sharing options...
tara747 Posted June 15, 2007 Share Posted June 15, 2007 (edited) About 8% of net income. Nice place, nice area... Edited June 15, 2007 by tara747 Quote Link to comment Share on other sites More sharing options...
OzzMosiz Posted June 15, 2007 Share Posted June 15, 2007 20% of net pay or 13.37% of gross. Quote Link to comment Share on other sites More sharing options...
dude wheres my house Posted June 15, 2007 Share Posted June 15, 2007 I suspect you'll get some rather unrealistic answers.This lot claim to pay buttons to the land-lord, save four figures a month in preparing for the "great crash", while enjoying the life of Riley Oh, probably doesn't help but my mortgage is 15 per cent of gross monthly income. Renting a similar property would push this up to 28 per cent. How long ago did you buy? Quote Link to comment Share on other sites More sharing options...
Phlash Posted June 15, 2007 Share Posted June 15, 2007 44.8% (That pays for two of us) So it would be 22.4% per person. Quote Link to comment Share on other sites More sharing options...
benno1uk Posted June 15, 2007 Share Posted June 15, 2007 About 8% of net income. Nice place, nice area... Hmmm... Jimmy Hill! Quote Link to comment Share on other sites More sharing options...
deano Posted June 15, 2007 Share Posted June 15, 2007 50% - the gutting thing is my rent is 'low' (!) compared to anything else similar I could get, and my wages are average for the area. Time to diversify. Anyone want to buy any coke, weapons, or Filipino women?? Buy, I thought you liked renting. Quote Link to comment Share on other sites More sharing options...
Europa Posted June 15, 2007 Share Posted June 15, 2007 How long ago did you buy? Bought in April 2006 - "peak of the market", apparently That was with a 100k mortgage, and a 50k deposit. Capital gains have shifted this to 100k equity / 100k mortgage. Quote Link to comment Share on other sites More sharing options...
Little Professor Posted June 15, 2007 Author Share Posted June 15, 2007 Yeah, you should only rent Filipino women, their value only goes down with time... Back on topic now please! Quote Link to comment Share on other sites More sharing options...
disgruntledinmaidenhead Posted June 15, 2007 Share Posted June 15, 2007 (edited) 24.5% .. sheesh .. that's a bit more than i thought. that's net. Edited June 15, 2007 by disgruntledinmaidenhead Quote Link to comment Share on other sites More sharing options...
Dosser Posted June 15, 2007 Share Posted June 15, 2007 10%, to buy similar I reckon would cost 25% approx Quote Link to comment Share on other sites More sharing options...
se7ensport Posted June 15, 2007 Share Posted June 15, 2007 I'm currently at 10% of gross or 15% of net (joint income), additionally we are putting 21% of net into savings each month. We are possibly about to move to a very nice 3 bed cottage, in a very plush area for 14% gross or 20% net. You've got to love the mortgage interest subsidising landlords Quote Link to comment Share on other sites More sharing options...
Disillusioned Posted June 15, 2007 Share Posted June 15, 2007 27% (rounded up to the nearest integer) Anyone reading this topic may like to post on this one. Quote Link to comment Share on other sites More sharing options...
Goldfinger Posted June 15, 2007 Share Posted June 15, 2007 19.9%. I think up to 1/3 net income for housing cost is acceptable. An IO mortgage on the flat would be around 40% at present IRs. Quote Link to comment Share on other sites More sharing options...
no room at the inn Posted June 15, 2007 Share Posted June 15, 2007 40% of Net for 2 of us. so 20% each, great location, Holborn Central London. Still saving 750 a month 2! Quote Link to comment Share on other sites More sharing options...
no room at the inn Posted June 15, 2007 Share Posted June 15, 2007 (edited) 40% of Net for 2 of us. so 20% each, great location, Holborn Central London. Still saving 750 a month 2! I/O mortgage at 6.5 over 25 years would be 75% of NET Edited June 15, 2007 by no room at the inn Quote Link to comment Share on other sites More sharing options...
okonu Posted June 15, 2007 Share Posted June 15, 2007 0%. Company rents the place for us (3br flat, 2800 sq feet) Quote Link to comment Share on other sites More sharing options...
NotMyHouse Posted June 15, 2007 Share Posted June 15, 2007 When we move, I would (theoretically) be paying 42% of my income in rent. However, the cunning plan is that if we sell, the rent will be more than covered from the after tax income from the sale proceeds. If we don't sell, then we'll let, and, assuming we get the worst price that the letting agent estimates, then that rental income (after tax and expenses) should also cover the rent on the new place. As a convinced bear, I would rather sell than let but we may have left it a bit too late to get off the sinking ship. I can feel the cold and clammy waters lapping around my ankles... Quote Link to comment Share on other sites More sharing options...
Guest Bart of Darkness Posted June 15, 2007 Share Posted June 15, 2007 (edited) About 8-9% of net income. The percentage should fall in the next tax year as I'll pay less tax due to having become a Limited company. Edited June 15, 2007 by Bart of Darkness Quote Link to comment Share on other sites More sharing options...
buylowsellhigh! Posted June 15, 2007 Share Posted June 15, 2007 28% of net income as 1 of 2 sharers paying equally. St. John's Wood, London. It's a stretch but then life's short! Quote Link to comment Share on other sites More sharing options...
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