How much do you spend on rent/mortgage?

smellyoldboot

I pay 19% of take home in a council house and saving for a mortgage deposit and can't wait to get out of it. Was damn glad of the help as was in college and became "homeless" in last year (I never actually left the property in question).

But my god , council areas really are cesspits riddled with the worst type of animals in a lot of places and the council have zero interest in enforcing any kind of order.

I can't wait for the day I'll be paying probably a good bit more for peace, quiet and sanity.

nthclare

My Mortgage is 15% of my income.
Due to Inheritance in 2003 and a small top up mortgage to buy a detached house in the Burren is something people work hard at until they're 65 to even get a sniff of.

Gael23

paulieeye wrote: »

25% of combined take home.

Can OP edit this thread to add a poll? would be interesting to see

Poll with what options?

L1011

16% of combined take home. Was 12% but increased to shorten the term and will probably do another increase when the fixed term expires. Would be very happy to have it all paid off in 15 years from purchase, will be 18 currently

MPI is negligible as is home insurance. Never ever get them from your bank as they won't be negligible then!

perfectkama

Gael23 wrote: »

Poll with what options?

10-25%: 25-33%: 33-50% and holy god above 50%


25 -33% would be about 65%

Flex

About 27% of my net income on the mortgage, increased a few years ago to shorten the term

It’s important also to work out what your absolute net pay is that you have left after rent or mortgage payments each month and use that in conjunction with the % of your net pay said payment accounts for. As a % it may look low but leave with very little to live on or save if your overall income is low and vice versa

ChewBerecca

22% and dropping with overpayments on our mortgage in Limerick.

In Dublin a few years back we were paying 35% on rent, but everything else was so expensive we found it impossible to save.

onrail

Does take home pay include pension contributions?

After pension contributions, about 14% paid on rent, around 50% into the savings pot.

Burti16

45% of my monthly net income is paid to rent. It's really annoying that I'm not mortgage eligible due to my immigration status eventhough I have good amount of cash in the bank that can be used for deposit.

I'm seriously considering moving to another county next year. At least, I can live in a big house instead of 2 bedroom apartment for the less money

silent_spark

36% of post pension take home, 30% excluding the pension deduction. It’s about double our minimum payment, we want to clear it quickly. Would love to have it gone in four years.

smellyoldboot

smellyoldboot wrote: »

I pay 19% of take home in a council house and saving for a mortgage deposit and can't wait to get out of it. Was damn glad of the help as was in college and became "homeless" in last year (I never actually left the property in question).

But my god , council areas really are cesspits riddled with the worst type of animals in a lot of places and the council have zero interest in enforcing any kind of order.

I can't wait for the day I'll be paying probably a good bit more for peace, quiet and sanity.

Lol, don't count on it.

My friend, home owner has one house one side, owner occupied, parties all night long, people coming & going at all hours, cars all over the shop.
The other side was quiet until a relative of the home owner moved in, not long out of prison, smokes weed at Day long, & generally is a nasty character.

Good private estate.

Mine was 34% when I was renting at the start of the year.

Since we bought in May it should now be 22%, but as I contributed most of the deposit and I earn a lot less than my partner we agreed I'd pay less for the first 3 years, leaving me at just 14%. A huge difference from renting.