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straw poll - what percentage of your family income do you spend of rent (or mortgage)?

(16 Posts)
Kif Wed 20-Aug-08 22:06:53

... because I'm slightly alarmed we might need to spend more than half our income to get something genuinely big enough ...

pinkspottywellies Wed 20-Aug-08 22:07:32

Not far off half sad

CarGirl Wed 20-Aug-08 22:08:36

Gross or net?

We spend 15% of our gross (and that is our payments over 30 years!) I don't want to think about how much it is net, probably 40% at a guess.

missingtheaction Wed 20-Aug-08 22:09:26

lone parent, only borrowing about 20% of the value of the property so only spending about 15% of my income on the mortgage. probably not a very good yardstick for you

Kif Wed 20-Aug-08 22:11:25

net

blueskythinker Wed 20-Aug-08 22:13:37

10% of net salary - but we bought smart before the housing market took off.

SingingBear Wed 20-Aug-08 22:14:05

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TheGreatScootini Wed 20-Aug-08 22:15:35

40% of our combined wages every month.Interest only at the moment as well.

Kif Wed 20-Aug-08 22:16:31

I wanted to spend much less - but I've had lots of hmm hmm from agents re: too few bedrooms for number of people .

CarGirl Wed 20-Aug-08 22:20:32

How big is your family? We've got the cheapest 3 bed terrace in our area and there are 6 of us. I included child benefit, CTC, child maintenance in my income btw - if it were just on incomes it would be about 55% of net income each month (eek perhaps more)

fiodyl Wed 20-Aug-08 22:22:46

18.5% of net income spent on renting a council property.

It would be 50% if we rented from a private landlord and 75% if we were paying a mortgage.

sweetgrapes Wed 20-Aug-08 22:27:31

35% of take-home, interest only.

ranting Wed 20-Aug-08 22:33:40

About 15 percent of our combined net income on a repayment but we both had the proceeds from two properties (one mine, one his) which we used as deposit and we bought before the market soared.

dilemma456 Fri 22-Aug-08 18:49:19

Message withdrawn

StellaWasADiver Fri 22-Aug-08 18:51:37

About 17% gross - renting, can't afford to buy.

ByTheSea Fri 22-Aug-08 19:10:15

About a third of DH's take home pay goes to the mortgage (used to be less but we've refinanced a couple of times now).

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