If you have a joint income of around £65k what would be your max ideal monthly rent/mortgage?

[NemophilistRebel]

Interested as we are considering moving house to a better area and to gain a third bedroom and our mortgage would go up to £940 per month which is only an extra £100 or so on top of what we pay now but I’m wondering if it’s pushing the boundaries of living comfortably

Depends on how much disposable you have left. I'm assuming 65k gives you £3.5kish per month. Assuming no debts, 940+400 for bills etc leaves you with quite a bit left over

Not mortgage but DH and I have been earning about that and paying £12300 a month in rent quite comfortably, I wouldn’t mind paying that in mortgage

£1230* obviously!

I might be out of touch but that sounds a lot! We earn approximately that as a joint income and pay £650 month for our mortgage. I'd say we're just about comfortable.

I guess it's about any other debts and bills on top of that....

We earn about that with me part time and have a £1k mortgage Which isn’t the issue but also been paying £1k in childcare per month until recently and that’s not been easy .

That combined has pushed us a lot

We pay exactly that on our mortgage-it accounts for about a quarter of out monthly net joint income so perfectly do-able

Earn just over that and we pay £1100

Similar income here and ours is £650. It was higher when we bought the house due to the interest rate, around £800. We have a comfortable life with it how it is, and although we could afford more, we have no desire to as we wouldn't have the same lifestyle. I'd hate to be a slave to a mortgage.

It's going to depend on what other outgoings you have isn't it? The answer won't be the same for everyone - already there have been answers twice as much as each other.

I'd do a realistic budget in different situations and see which feels most realistic

We earn just a teeny bit more than that & pay rent of 1600 a month so I think as long as you don't have loads of outgoings you've forgotten about then it should be manageable, but only you know the full ins & outs & what if's etc.

We've just increased our mortgage significantly and am resigned to budgeting

We do have more income than you but it's still a stretch from when we paid £700 per month

So food is now from Aldi and it's fab - don't waste money and keep crap like coffees, lunches etc to a minimum - our mortgage is high but our home is worth loads so it's an investment in our future which means we don't waste money now
Good luck

Similar income here and also currently house hunting. To be honest that much makes me nervous. While we can manage ot comfortably now if one of us lost our job it would make things extremely tight. I'm fortunate to live in an area with sensible house prices though so do have options.

I guess it also depends on other outgoings - childcare, cars, debt?

We earn £75000 and our mortgage is £900. I’d be happy upping that too £1000 as we do overpay and still have a fair amount ‘left over’

No childcare, I work part time and flexibly around DC
No loans, actually DH has student loan which takes around £150 a month from his salary

After tax with his salary, my part time salary and CB each month we have just under £4K coming in

Surely how you feel now is more of an indication than the views of others who have different non mortgage outgoings and expectations about lifestyle and spending?

Would any of your other outgoings change? Travel, council tax, utilities? Remember to factor those into how the new property will affect your disposable income.

It’s hard to gauge due to having maternity leave, which is a unrealistic blip and is tight but short lived.

That's our joint income, and our mortgage is £1150 (outskirts of London). We have commuting costs of £500 a month (between us) and save/spend about £800 a month on home improvements (house is a doer-upper). However, we don't have any DC and childcare costs yet (TTC, hence pushing to get the house sorted).

We paid around that rent when on around 50k between myself and my ex and also childcare. Never felt like we were struggling for money.

£900 max