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Percentage income on mortgage?

  • 23-02-2005 4:20pm
    #1
    canavanbn@hotma
    Closed Accounts Posts: 107 ✭✭


    I'm curious, Is it possible to live relatively comfortably with 50% of an income of €3,000 per month going on mortgage repayments?
    And how much extra would I be likely to take in if I rented out my second bedroom in an apartment?
    What % of your income goes on mortgage?
    Whats the recomended amount?
    Thanks


Comments

  • #2
    kenmc
    Registered Users, Registered Users 2 Posts: 7,278 ✭✭✭kenmc


    that depends on what you spend and what your existing loans/repayments/outgoings are!!!! you're basically asking how long is a piece of string!!??!!??
    the banks will generally only like you having 40% ish repayments....


  • #3
    lomb
    Registered Users, Registered Users 2 Posts: 6,017 ✭✭✭lomb


    you can live well i think on 3000 grand i think a month. is the 3000 ur b4 or after tax income though?


  • #4
    the_syco
    Registered Users, Registered Users 2 Posts: 37,316 ✭✭✭✭the_syco


    canavanbn@hotma wrote:
    I'm curious, Is it possible to live relatively comfortably with 50% of an income of €3,000 per month going on mortgage repayments?
    And how much extra would I be likely to take in if I rented out my second bedroom in an apartment?
    What % of your income goes on mortgage?
    Whats the recomended amount?
    Thanks
    Look @ daft.ie, to see how much someone in your area would have to pay per week, sharing a house. Depending on where you live, it'd be €75 - €120, which would work out to be 300 - 480 a month.
    Now, 50% of €3000 would be €1500, and minus €480 or so from that, and you get €1000 a month, which would leave you with about €2000 a month, which should enable you "to live comfortably".


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