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How much do you spend on rent/mortgage?

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1246

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    #92
    GreeBo
    Registered Users Posts: 27,087 ✭✭✭✭GreeBo


    I dont get why people are saying 40% is impossible or crazy.
    It totally depends on your income.

    If the remaining 60% of my income is 6K/month then who cares that I'm spending 4K/month on mortgage/rent?

    Now if Im earning 2K a month 40% would mean the remaining 60% is probably not enough to live on/save etc.

    But to just say that 40% is "too much" is wrong.

    (in any case, I'm closer to 50% of household net income!)


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    #93
    Dubh Geannain
    Registered Users Posts: 3,393 ✭✭✭Dubh Geannain


    GreeBo wrote: »
    I dont get why people are saying 40% is impossible or crazy.
    It totally depends on your income.

    If the remaining 60% of my income is 6K/month then who cares that I'm spending 4K/month on mortgage/rent?

    Now if Im earning 2K a month 40% would mean the remaining 60% is probably not enough to live on/save etc.

    But to just say that 40% is "too much" is wrong.

    (in any case, I'm closer to 50% of household net income!)

    Exactly, but I suspect the remaining 60% is not near 6k.


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    #94
    bri007
    Registered Users Posts: 1,375 ✭✭✭bri007


    We Pay just under 31% total income on mortgage


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    #95
    SirGerryAdams
    Banned (with Prison Access) Posts: 499 ✭✭SirGerryAdams


    My rent is 8.3% of my gross pay.

    Or

    11.1% of my take home pay (which includes contributions taken for pension etc.)

    EDIT: Single and sharing with 3 others.

    It's depressing really despite my low % compared to others. I work and work but all the savings will go towards a house while people who never work a day in their lives will get the same thing.


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    #96
    Saudades
    Registered Users Posts: 378 ✭✭Saudades


    My rent is an eye-watering 67.5% of my net pay.

    I pay 1,350 for a 1 bedroomed apartment in Dublin City Center and my net pay is 2,000.

    I love my career and I love my home, so I've been reluctant to make a change in my lifestyle, but I'm at the stage now where something has to give and I need to find a new path.

    Upgrading my career appears to be the better solution as there appears to be too much competition for renting apartments in Dublin.


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    #97
    Gael23
    Registered Users Posts: 12,089 ✭✭✭✭Gael23


    Saudades wrote: »
    My rent is an eye-watering 67.5% of my net pay.

    I pay 1,350 for a 1 bedroomed apartment in Dublin City Center and my net pay is 2,000.

    I love my career and I love my home, so I've been reluctant to make a change in my lifestyle, but I'm at the stage now where something has to give and I need to find a new path.

    Upgrading my career appears to be the better solution as there appears to be too much competition for renting apartments in Dublin.
    I live a fairly simple lifestyle but I couldn’t do it on €650 a month.


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    #98
    clio_16v
    Registered Users Posts: 529 ✭✭✭clio_16v


    Gael23 wrote: »
    How did you manage with it?

    I had savings which were pretty much wiped out during that period. I am now in a job with better salary and much better progression prospects because i studied last year


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    #99
    mwv
    Registered Users Posts: 28 ✭mwv


    35% of my take home pay. I'm lucky to only be paying that in Dublin city as the landlord has never increased our rent, so I fret about the day I may have to move. That is definitely doable and I have friends struggling to find anywhere even somewhat reasonable so I would hurry to take it while it's available to be honest.


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    #100
    dazed+confused
    Registered Users Posts: 1,001 ✭✭✭dazed+confused


    JohnnyFlash wrote:
    I have mortgages on a few properties. The rent is covering them all, and I own the apartment I’m living in outright. The family home had the mortgage paid off a few years back.

    Are you going to answer the question or are you just being a ****?


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    #101
    padd b1975
    Registered Users Posts: 10,704 ✭✭✭✭padd b1975


    Probably about 30% on a celtic tiger mortgage taken out in late 2006.
    You can imagine the fun I've had with negative equity...

    At the moment I have a couple of rooms rented out so getting just under the tax limit of 14,000 which goes towards a home improvement loan and car finance.
    They'll both be paid off within a year just in time for the start of the upward trend in interest rates according to those in the know.

    I'm on a tracker so can't really complain on that front to be honest.


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    #102
    previousmass
    Registered Users Posts: 25 ✭previousmass


    Gael23 wrote: »
    I live a fairly simple lifestyle but I couldn’t do it on €650 a month.

    I only spent €435 last month (outside of house purchase related expenses) but that is very very atypical for me.

    My mortgage (plus required insurances) is 32% of my take home pay.


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    #103
    Interested Observer
    Registered Users Posts: 13,021 ✭✭✭✭Interested Observer


    Saudades wrote: »
    My rent is an eye-watering 67.5% of my net pay.

    I pay 1,350 for a 1 bedroomed apartment in Dublin City Center and my net pay is 2,000.

    I love my career and I love my home, so I've been reluctant to make a change in my lifestyle, but I'm at the stage now where something has to give and I need to find a new path.

    Upgrading my career appears to be the better solution as there appears to be too much competition for renting apartments in Dublin.

    Holy ****. Have you been in your current job long? All my jumps in salary have come from moving companies, have you had a look at what else is out there?


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    #104
    sneaklem
    Registered Users Posts: 15 ✭sneaklem


    Mines around 40%

    Take home is 2.4K, rent is 1050 PM for a 2 Bed, renting on my own, one day will move in with oul doll so should be more comfortable finance wise


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    #105
    JohnnyChimpo
    Registered Users Posts: 1,075 ✭✭✭JohnnyChimpo


    dazed+confused wrote: »
    Are you going to answer the question or are you just being a ****?

    Well, he did answer the question - he's paying zero, because the rent is covering his BTL properties.

    <MOD SNIP>


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    #106
    Graham
    Moderators, Society & Culture Moderators Posts: 17,642 Mod ✭✭✭✭Graham


    Mod Note

    JohnnyChimpo, if you can't post in a civil manner please find somewhere else to post.


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    #107
    [Deleted User]
    Posts: 17,728 ✭✭✭✭ [Deleted User]


    My actual mortgage payment is just under 20% of my take home after a significant pension contribution every month. I'm overpaying my mortgage by 75% ish though so that brings it up to about 35% ish.


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    #108
    thencamethen
    Registered Users Posts: 17 ✭thencamethen


    mortgage is 20% of my income, but I'm renting a room, so it's < 5% atm


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    #109
    Lia_lia
    Registered Users Posts: 6,691 ✭✭✭Lia_lia


    Approx 15% of our joint income. We rent in Cork city.


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    #110
    missmatty
    Registered Users Posts: 1,126 ✭✭✭missmatty


    Bought last year and my half of the mortgage is about 27% of my monthly pay, this includes life insurance.


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    #111
    Creamy Goodness
    Registered Users Posts: 26,558 ✭✭✭✭Creamy Goodness


    30% of net, 4-bed, north Wicklow. Save another 35% and live off the rest.


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    #112
    edora91
    Registered Users Posts: 26 ✭edora91


    30% of my basic salary, renting ensuite master bedroom in a shared house in an older estate in South Dublin. I can't afford to buy on my own, so will be renting for a while. I also save 15-20% for a deposit.


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    #113
    Gael23
    Registered Users Posts: 12,089 ✭✭✭✭Gael23


    Went to view the place today, its lovely but it’s €950 a month plus €100 for bills on a take home salary of €2500 approx.


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    #114
    sheepondrugs
    Registered Users Posts: 84 ✭✭sheepondrugs


    Mortgage is 575 p/month for a 2 bed apartment West Dublin (Bought in 2010).
    15% of our combined net income.


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    #115
    turniphead
    Registered Users Posts: 279 ✭✭turniphead


    My rent is about 35% of my take home pay.

    Small 2 bedroom townhouse in South Dublin.

    It's certainly not ideal but hopefully not forever.


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    #116
    turniphead
    Registered Users Posts: 279 ✭✭turniphead


    Saudades wrote: »
    My rent is an eye-watering 67.5% of my net pay.

    I pay 1,350 for a 1 bedroomed apartment in Dublin City Center and my net pay is 2,000.

    I love my career and I love my home, so I've been reluctant to make a change in my lifestyle, but I'm at the stage now where something has to give and I need to find a new path.

    Upgrading my career appears to be the better solution as there appears to be too much competition for renting apartments in Dublin.

    I can very much relate to this. I have my absolute dream job which is only based in Dublin. I love it and it doesn't feel like work. I have an option to move to Cork for a generic job and as a consequence pay a lot less rent but right now that just doesn't appeal to me. It's far from ideal but I really love the work I do and don't want to leave it.

    As I mentioned above, I pay 35% of my take home pay in rent.


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    #117
    Jeju
    Registered Users Posts: 616 ✭✭✭Jeju


    This month it's 50% combined, next month it's 0


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    #118
    NewRed2
    Closed Accounts Posts: 999 ✭✭✭NewRed2


    0, but it took a while to get there. And you don't get thanked for it!


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    #119
    Exclamation Marc
    Registered Users Posts: 11,376 ✭✭✭✭Exclamation Marc


    I have the joys of living in a recently in the news complex that needs remediation work for fire safety so am paying €650 a month on service charges alone on top of the mortgage which itself is about 25% of my salary. Thankfully my partner contributes too so my share is about 20% of my take home salary.

    Just lucky I'm on a tracker mortgage.


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    #120
    voluntary
    Registered Users Posts: 871 ✭✭✭voluntary


    Exclamation Marc wrote: »
    so am paying €650 a month on service charges alone

    That's just for a few months, right?


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    #121
    Exclamation Marc
    Registered Users Posts: 11,376 ✭✭✭✭Exclamation Marc


    voluntary wrote: »
    That's just for a few months, right?

    The best part of 3 years. Probably 1.5 years into it now.


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