How much do you pay in rent?

shadowcomplex · 14-02-2012 3:44pm #1

The reason I ask is because im about to move again, im 33 and ive decided I need something much more comfortable , I earn about 50k gross a year so I am wondering is 600 a month too much to pay for a 2 bed appartment in waterford city for a single person, the only other outgoings I have are a loan which costs me 400 a month. Should I still be able to save money as well as be able to rent that appartment?

snubbleste · 14-02-2012 3:52pm

Erm there is a poll at the top of the page that asks that exact question. How much do you pay in rent?

djimi · 14-02-2012 4:00pm

I dont know much of the rental prices in Waterford but €600 sounds decent for a 2 bed (by contrast a decent 2 bed in Naas will be about €750-€900).

As for whether or not you can afford it, youll have to sit down and work that one out for yourself really. When I rented alone in a two bed apartment my outgoings outside of rent were about €100 for the two monthly ESB bill and €100 for UPC (all the channels, sports and internet). That was electric heating and I only lived there during the summer so heating wasnt a factor, so you can probably double that electric bill during winter months if its electric heating. I didnt really have any other bills relating to the rental.

shadowcomplex · 14-02-2012 4:02pm

this is the place id like to move into

http://www.daft.ie/searchrental.daft?id=1166472

angel01 · 14-02-2012 4:16pm

In fairness, I earn about 20k less than you and pay 950 Euro per month rent, UPC about 100 Euro, Gas & Electricity - 100 Euro or so and mobile phones etc.

Can't see how you can't afford that as you are on a fine high wage.. other people struggle on less.. to be honest, not many in this day and age can afford to save. Count yourself lucky.

djimi · 14-02-2012 4:18pm

No idea how the rent compares to Waterford City in general, but Id consider €600 to be decent value.

shadowcomplex · 14-02-2012 4:24pm

angel01 wrote: »

In fairness, I earn about 20k less than you and pay 950 Euro per month rent, UPC about 100 Euro, Gas & Electricity - 100 Euro or so and mobile phones etc.

Can't see how you can't afford that as you are on a fine high wage.. other people struggle on less.. to be honest, not many in this day and age can afford to save. Count yourself lucky.

well thats what I earned last year and to be honest I had to do shift and overtime to get it, very bad with money tbh . I need to cop myself on

angel01 · 14-02-2012 4:26pm

shadowcomplex wrote: »

well thats what I earned last year and to be honest I had to do shift and overtime to get it, very bad with money tbh . I need to cop myself on

Fair enough

All the best with finding a new place. The place looks lovely

MickySticks · 14-02-2012 4:27pm

If I was earning €50k I'd be looking at buying not renting.

listermint · 14-02-2012 4:28pm

600 is pretty good for 2 bed. I would be more than happy with that. rents in dublin average 950 to 1400 for x2 beds.

But yes that is dublin.

Still 600 is very good.

listermint · 14-02-2012 4:29pm

MickySticks wrote: »

If I was earning €50k I'd be looking at buying not renting.

Never follow this advice. Buying should never be based on salary. It has to be whats right for you. Job security and where you are in your life.

Dismiss this advice out of hand please because this is exactly the rubbish that has many people in trouble including many friends of mine.

Leo Dowling · 14-02-2012 4:29pm

I remember hearing Eddie Hobbs or someone saying that you shouldn't be paying much more than 25% of you income on rent. In your case you're pulling down around a grand a week and you're looking at paying around €150 per week so that's around 15%. You'd want to have a lot of expenses to not be able to save a bit of the other €850 every week. Or €750 after the loan.

€600 is decent enough value for a two bed apartment if it is nice at all.

MickySticks · 14-02-2012 4:38pm

listermint wrote: »

Never follow this advice. Buying should never be based on salary. It has to be whats right for you. Job security and where you are in your life.

Dismiss this advice out of hand please because this is exactly the rubbish that has many people in trouble including many friends of mine.

Just because some people decided to pay ridiculous money for houses in the CT that are worth nothing now doesn't mean people should be discouraged from buying now.

If everyone has a negative attitude like you we will never get out of this mess!

djimi · 14-02-2012 4:48pm

MickySticks wrote: »

Just because some people decided to pay ridiculous money for houses in the CT that are worth nothing now doesn't mean people should be discouraged from buying now.

If everyone has a negative attitude like you we will never get out of this mess!

I would discourage anyone from buying now for the simple reason that house prices are falling and will continue to fall for some time yet. Noone needs to buy a house this very second, so why waste money now when the same house will be cheaper in a year or two?

shadowcomplex · 14-02-2012 5:03pm

Leo Dowling wrote: »

I remember hearing Eddie Hobbs or someone saying that you shouldn't be paying much more than 25% of you income on rent. In your case you're pulling down around a grand a week and you're looking at paying around €150 per week so that's around 15%. You'd want to have a lot of expenses to not be able to save a bit of the other €850 every week. Or €750 after the loan.

€600 is decent enough value for a two bed apartment if it is nice at all.

a grand a week gross not net, my take home is about 670 a week

How much do you pay in rent?

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