What % of your income goes in rent ?

[Howtostart]

There is a thread asking the same question about mortgage .. I was shocked how low it is compared with rent . It's been a thing for a long time that rent is often more than a mortgage but will be interested so see what the difference is ..

I'll kick off. Lost my house in my divorce. Ex went home (overseas) I had to rent.

Take home £2200
Rent £1000.

No because if your rent is low, and a new mortgage would cost £400 more a month, you can save that money every month instead and put it away. And you don’t pay any maintenance like the roof.

4% (not in UK; work subsidises apartment)

We’re about 28% - we’re waiting for our house purchase to go through, we sold our old place last summer and hope to buy by May. Once we do that our outgoing on house will fall to about 25%.

we’ll be far better off financially though - our current place is falling apart with next to no insulation and an oil boiler, we’ve spent an absolute fortune on oil over the winter and it’s impossible to keep warm! Landlord is bloody useless and won’t fix / repair stuff (we can’t currently use the front door as it’s got a crack in it and warped in the wet weather - he just says that the backdoor still works so what’s the issue?)

i think a PP had it right - rent starts high and gets adjusted up each year, whereas your mortgage gets cheaper, and you can remortgage to get a better deal. Can’t imagine our robbing bastard landlord giving us cheaper rent for any reason!!

Just fuck off with your superiority- what a twat you are!

Take home £2200
Rent £850

(But, for our Superior Snotty poster, who may think I'm thick as shit, that's 38.63% 🙄)

if anyone were better off as a tenant, why would anyone be a landlord.

Your premise is flawed. It’s not £400 saved, it’s £800 wasted. I’d rather put £1200 towards getting something than spend £800 and end up with nothing down the line.

yes, exactly this! I've had my home for 15years and the mortgage is just under £600 a month but if i bought it now and had a 90% mortgage for 25yrs on the current value it would be around £1300-1400 a month which is the same as the rent on properties that have been advertised recently.

Take home 1100 (if I'm paid right, and that hasn't happened for the last 4 months)
Rent 723. For a really crap ex council house (next door neighbours pay 477).
I have a feeling it's going to go up again shortly. The landlord wants to do an 'inspection' which is code for 'brace yourself, I'm going to shake you for every penny.

It’s about 60-70%.