Can I afford to pay this much rent?

Heat_Wave

The ad is gone already.

I hope I have nothing to worry about. He/she has
my email address and I told them where I work.

H3llR4iser

Heat_Wave wrote: »

Hi All

I would like to hear people's opinions on this.

Could someone on a salary of 28k afford rent of €650 per month (bills included)?

Genuine question. Realistic answers please.

Thanks
HW

For about three years, I was on a 25k (gross) salary paying 800 Euro/month rent, in Cork. No real problem with it, just needed to be a bit careful with non-necessary expenses (e.g. "I want" rather than "I need"), but nothing extreme - I would go out, to the cinema, buy the occasional Xbox game, take a holiday each year.

The one caveat was that I didn't have a car during those years, as I lived quite literally across the street from works (and in the city centre).

Graham

Heat_Wave wrote: »

The ad is gone already.

I hope I have nothing to worry about. He/she has
my email address and I told them where I work.

They're usually only interested in scamming you for the first months rent/deposit. I think you're safe enough.

Brobromococo

Brobromococo wrote: »

Good lord, I have 200e left to spend for the MONTH after my rent and bills, I am just an average 29 year old nurse living with my partner and our baby. If we get by every month there is no reason you cannot.

€50 a week for three of you? Really?

The_Conductor

draiochtanois wrote: »

This post has been deleted.

Including PRSI and USC- the marginal rate of tax on income earned over 33,800- is in fact either 52 or 55% (depending on which rate of PRSI and USC you're on)

As for figures-

In 2015 there were 2,341,212 taxpaying units (tax paying employees) in Ireland
129,919 of these earn over 100,000 per annum
433,946 employees earn >33,800 per annum- and pay tax at either 52 or 55% on their marginal income- i.e. 300,000 odd workers- about 13-14% of the workforce- earn under 100k and pay tax at the higher level
881,700 employees- don't pay income tax- as they are below the threshold to do so, and of this cohort- 648,700 also don't pay USC. This group of people who don't pay tax- comprises just over 38% of the workforce..........

Revenue have gotten very good at releasing pre-digested datasets recently........

Caliden

Heat_Wave wrote: »

I save €200 per month, and I have €150 going into my pension. Phone bill is €50, petrol is approx €50 per month.

I think I may have to scrap the savings and pension. Is this wise though? I'm 26 btw.

Personally I'd keep the savings and pension. You'll thank yourself in 10 years that you kept up the pension. Plus with the way tax is calculated you're not losing a lot of your NET pay on the pension contribution.


You could try reduce the phone bill if you're out of contract.
I'm on a sim only plan for 15 a month that has calls/texts/20gb data.

Make your own lunches for work (factor in making extra when you're cooking your dinner the night before). I've found groceries were absolutely wrecking my balance.

Stopped doing 2/3 shops a week in supervalu and swapped to lidl/butchers/dunnes.

You'll definitely be able go out for pints/dinners on what's left over. Personally I prefer making sacrifices on other things than sacrificing a social life.

goldenhoarde

Hollister11 wrote: »

OP never mentioned if the stated salary was gross or net.

True I assumed gross and you Net so we're both right till the OP clarifies!

Danger781

Hijacking this thread a little bit as I have the same question crossing my mind.. I'm currently living at home and I'm not sure how much longer I can put up with it.. I've been looking on Daft for 1-2 bed places in Cork city centre, suburbs, and commuter towns. I really don't want more than a 20 minute commute to work. The majority of 1-2 bed places are about 850 - 1500 range, which obviously is huge money to be forking out every month.

I was thinking I would be able to pay up to about 850/month in rent:

I'm currently earning roughly 2100/month after tax:
Rent: -850
Car finance repayments: -250
Car Insurance: -120
Phone credit: -20
Savings: -400
Petrol: -80 (Guesstimate, I don't drive a lot)
= Remaining €380 for the month

Note:

• My car insurance of 1400 has been paid off in full for the year already, but I figured it would be best to include it anyway in the monthly cost. I'd rather have the extra money lying around this time next year.
  
• I have considered house sharing, but I get up at 6AM during the week for work. On nights where I am not working I stay up quite late (2-4AM) playing video games with friends. This will usually involve speaking on Skype / Teamspeak so I don't want to piss people off.

Am I mental to consider paying out close to a grand a month in rent?

AlmightyCushion

Danger781 wrote: »

Hijacking this thread a little bit as I have the same question crossing my mind.. I'm currently living at home and I'm not sure how much longer I can put up with it.. I've been looking on Daft for 1-2 bed places in Cork city centre, suburbs, and commuter towns. I really don't want more than a 20 minute commute to work. The majority of 1-2 bed places are about 850 - 1500 range, which obviously is huge money to be forking out every month.

I was thinking I would be able to pay up to about 850/month in rent:

I'm currently earning roughly 2100/month after tax:
Rent: -850
Car finance repayments: -250
Car Insurance: -120
Phone credit: -20
Savings: -400
Petrol: -80 (Guesstimate, I don't drive a lot)
= Remaining €380 for the month

Note:

• My car insurance of 1400 has been paid off in full for the year already, but I figured it would be best to include it anyway in the monthly cost. I'd rather have the extra money lying around this time next year.
  
• I have considered house sharing, but I get up at 6AM during the week for work. On nights where I am not working I stay up quite late (2-4AM) playing video games with friends. This will usually involve speaking on Skype / Teamspeak so I don't want to piss people off.

Am I mental to consider paying out close to a grand a month in rent?

It's certainly doable although you would probably have to reduce the amount you save every month.

I wouldn't rule out house sharing. As long as you or the people you move in with aren't especially light sleepers and you aren't shouting into the mic when playing games you'd probably get on grand.

Ms Doubtfire1

Danger781 wrote: »

Am I mental to consider paying out close to a grand a month in rent?

yes. I would absolutely advise sharing. Anything unexpected (plus you should never pay more that 35% of your salary in rent) and you're down the drain.
Daft is not the only site.
https://www.donedeal.ie/tolet-for-sale/1-double-bedroom-glanmire/12950790

Danger781

AlmightyCushion wrote: »

I wouldn't rule out house sharing. As long as you or the people you move in with aren't especially light sleepers and you aren't shouting into the mic when playing games you'd probably get on grand.

I can get unintentionally loud at times out of sheer frustration :pac:

Ms Doubtfire1

Danger781 wrote: »

I can get unintentionally loud at times out of sheer frustration :pac:

but thats inside your control:D

AlmightyCushion

Danger781 wrote: »

I can get unintentionally loud at times out of sheer frustration :pac:

Yeah that'll happen but as long as it's not very often it's grand. You also have to take in mind your housemates will probably be loud at times when you have work at 6AM so you can't give them stink over it as long as it's not all that often either. It's give and take. Seriously, try house sharing. I've been doing it for years and there's nothing in your post that would put me off. I've had housemates do far worse than just make a bit of noise at 4AM. Sharing would save you a few hundred on rent and bills, it's worth it.