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How much do you spend on rent/mortgage?

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    #32
    elefant
    Registered Users Posts: 4,647 ✭✭✭elefant


    Gael23 wrote: »
    It’s a 2 bed apartment so sharing with one other. Will take home ~€2.4k a month and €900 for this place. It’s in South Dublin also.

    Sounds pretty decent, to be honest.


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    #33
    marcbrophy
    Registered Users Posts: 6,428 ✭✭✭marcbrophy


    Gael23 wrote: »
    How does that work for you? Do you find you have enough left for everything else.
    I’m single and I have decent savings already so I’m good that way. I’m getting a €10k pay rise for this job so I guess most of the extra will go.

    I can get by month to month, with a bit of mindful budgeting.
    I save a little too ~10%
    I'm not in the capital though, so cannot attest to the place!
    You should be grand with your pay rise :)


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    #34
    D3V!L
    Registered Users Posts: 2,923 ✭✭✭D3V!L


    About 15% of my salary on my mortgage.


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    #35
    Baggly
    Registered Users Posts: 35,024 ✭✭✭✭Baggly


    Mod

    Thread belongs in Acommodation & Property. Please note the local charter there if mods reopen the thread.


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    #36
    Graham
    Moderators, Society & Culture Moderators Posts: 17,642 Mod ✭✭✭✭Graham


    Mod Note

    Thanks Baggly, thread re-opened.


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    #37
    voluntary
    Registered Users Posts: 871 ✭✭✭voluntary


    So many people pay much more than 40% for rent. The other option is sharing or signing up for a social welfare assistance (or both).


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    #38
    Danzy
    Registered Users Posts: 13,252 ✭✭✭✭Danzy


    Gael23 wrote: »
    It’s a 2 bed apartment so sharing with one other. Will take home ~€2.4k a month and €900 for this place. It’s in South Dublin also.

    You'll live like a hermit.

    40% is way too high.


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    #39
    Hogzy
    Registered Users Posts: 7,544 ✭✭✭Hogzy


    15% on mortgage.


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    #40
    SozBbz
    Registered Users Posts: 1,889 ✭✭✭SozBbz


    Around 15% currently - mortgage on apartment.

    In the process of buying a new place (house), which will probably double my current monthly payment but am keeping existing apartment which will pay for itself + small surplus after taxes and other costs.

    I occasionally get a bonus pay check so the plan is the chip away at the principal of the PPR over time to reduce the term and/or repayments. Ideally 20% or less would be ideal.


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    #41
    alroley
    Registered Users Posts: 1,232 ✭✭✭alroley


    35% of my net goes on renting a room :(


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    #42
    loveisdivine
    Registered Users Posts: 2,463 ✭✭✭loveisdivine


    23% of our combined net salary goes on our mortgage.


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    #43
    .......
    Closed Accounts Posts: 9,057 ✭✭✭.......


    14% of combined salary on mortgage.

    This is a kind of how long is a piece of string question though. A lot of people pay a high proportion of wages to housing in their early career then as time passes and their salary goes up that percentage comes down.


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    #44
    tusk
    Registered Users Posts: 5,882 ✭✭✭tusk


    About 27% of combined salaries on mortgage for a 4bed in Ashbourne


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    #45
    Bandana boy
    Registered Users Posts: 4,325 ✭✭✭Bandana boy


    17% of combined take home on current house - first house was ~30% of combined with payback on loans for deposit/stamp duty first home rose to 40% for first 3 years .
    Them times were tough


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    #46
    voluntary
    Registered Users Posts: 871 ✭✭✭voluntary


    Percent of earnings is a useless number. You'd better consider how much you get to keep after regular expenses and see if you can live off it comfortably, uncomfortably or struggle.


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    #47
    techdiver
    Registered Users Posts: 3,070 ✭✭✭techdiver


    On our baseline mortgage repayment we pay 15.8% of our household Net income (single income household).

    We voluntarily overpay our mortgage up to 27% of Net pay.


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    #48
    The_Honeybadger
    Registered Users Posts: 4,155 ✭✭✭The_Honeybadger


    9% of net household income with two people working. 40% is an awful lot and well above the norm imo.


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    #49
    DelBoy Trotter
    Registered Users Posts: 1,475 ✭✭✭DelBoy Trotter


    28% of our net pay goes on rent each month


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    #50
    DelBoy Trotter
    Registered Users Posts: 1,475 ✭✭✭DelBoy Trotter


    The_Honeybadger wrote: »
    40% is an awful lot

    Agreed
    The_Honeybadger wrote: »
    well above the norm imo.

    Disagreed. I wouldn't say it it well above the norm, especially with the current rental prices in Dublin


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    #51
    mark_jmc
    Registered Users Posts: 552 ✭✭✭mark_jmc


    mortgage is 1750- about 17% of our combined monthly net take home pay


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    #52
    zell12
    Registered Users Posts: 23,373 ✭✭✭✭zell12


    The State charges ~15% of income for rent of social housing.

    I assume this is what is the maximum acceptable level of accommodation cost


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    #53
    Neworder79
    Registered Users Posts: 607 ✭✭✭Neworder79


    DelBoy Trotter wrote: »
    Disagreed. I wouldn't say it it well above the norm, especially with the current rental prices in Dublin

    41%, renting a fairly old house in South Dublin (single income family).

    I know lots of people stuck in same situation. Happy to move for cheaper in any normal market, but there's no price variation across greater Dublin region now, basically anyone leasing a converted garden shed to a waterside apartment is looking for 1000+ per room. It's that or move away and spend 2+ hours a day in traffic.


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    #54
    Cocobongo
    Registered Users Posts: 122 ✭✭Cocobongo


    We pay €1,100 p/m from our take home €6,500 combined. It’s not bad as being 16%, but still is a huge amount for a small flat when you think about it, some people seem to be paying lower % too


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    #55
    tony1980
    Registered Users Posts: 1,607 ✭✭✭tony1980


    15% of our combined net pay goes on the mortgage each month.


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    #56
    dancingqueen
    Registered Users Posts: 1,079 ✭✭✭dancingqueen


    37% 1750 for a 2 bed that genuinely, is in dire shape with very dated appliances and furniture. When we see brand new ones going for 1850 we feel very ripped off. South Dublin.


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    #57
    douglashyde
    Registered Users Posts: 694 ✭✭✭douglashyde


    34% on mortgage.

    However percentage is a bad number, consider disposable income after all bills are paid.

    Also, people fail to consider wage growth, mortgages (I know you're considering renting) stay fairly stable but wages/salaries tend to grow.


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    #58
    lasalle
    Registered Users Posts: 46 ✭lasalle


    20% for 3bed mortgage, single income family of 4


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    #59
    Dawido
    Closed Accounts Posts: 43 ✭Dawido


    €60 from €2250 net pay which is about 2%. Living with parents arm but migrating soon as housing is broken in this state.


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    #60
    Heres Johnny
    Closed Accounts Posts: 2,738 ✭✭✭Heres Johnny


    Bought my house in 2010 and mortgage was about 990 at the time, I was earning 36000 a year or about about 2700 a month take home so it was 35% at the time.
    Now the girlfriend lives with me we take home a combined 8000 approx and mortgage is 930 now so it's about 11.5% of combined. Felt both were manageable to be honest, more so now obviously


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    #61
    Bass Reeves
    Registered Users Posts: 18,158 ✭✭✭✭Bass Reeves


    Talking to a lad who was in the US for years. When he first arrived an uncle of his advised him he be paid by the month(4 week) in the job he was going into. He said his rent should cost him no more than a weeks pay, he should be able to have a good lifestyle on two weeks pay and to save a weeks pay out of every check. He always followed this thinking

    Slava Ukrainii



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