Rent/mortgage As % Of Income

[Big Man]

I've just been offered a new job in erm... Glasgow.

 

The money is utter pish - but it is a good job. I've been looking at halfway decent 1 bedroom flats and the rent will swallow close to 48% of my net pay.

 

Financial types seem to advocate spending no more than 35% of your net pay on rent.

 

If it's not too personal a question, what % of your income do you spend on rent/mortgage payments?

 

Would you rather live in a shit hole with plenty of disposable income, or a nice pad with slightly less...

 

[Ke1t]

I've just been offered a new job in erm... Glasgow.

 

The money is utter pish - but it is a good job. I've been looking at halfway decent 1 bedroom flats and the rent will swallow close to 48% of my net pay.

 

Financial types seem to advocate spending no more than 35% of your net pay on rent.

 

If it's not too personal a question, what % of your income do you spend on rent/mortgage payments?

 

Would you rather live in a shit hole with plenty of disposable income, or a nice pad with slightly less...

 

 

That's a pretty enormous chunk of your income, guy... 48%?

 

I would find somewhere a bit less local and a bit less expensive.

 

Holy shit, though.. half yer wages on rent?

 

That would scare me off, no second thoughts.

[dazzy_deff]

My mortgage is 16% of my monthly income after tax. It dropped slightly when my 2 year fixed rate expired and I switched onto a variable.

[weapon]

I've just been offered a new job in erm... Glasgow.

 

The money is utter pish - but it is a good job. I've been looking at halfway decent 1 bedroom flats and the rent will swallow close to 48% of my net pay.

 

Financial types seem to advocate spending no more than 35% of your net pay on rent.

 

If it's not too personal a question, what % of your income do you spend on rent/mortgage payments?

 

Would you rather live in a shit hole with plenty of disposable income, or a nice pad with slightly less...

 

 

Stayed in glasgow for 6 years until recently and Glasgow rent is miles cheaper than in aberdeen, just look outside the city centre.

 

I paid

[dazzy_deff]

Stayed in glasgow for 6 years until recently and Glasgow rent is miles cheaper than in aberdeen, just look outside the city centre.

 

I paid

[Cowie]

Guess it depends on what you income is - can you afford that what ever X% above what you are paying just now.

 

For what it is worth - I'm looking at buying just now & my budget is coming out at 36% for all in mortgage & bills..

[weapon]

holy shit that's less than I charge my tenant in a one bedroom house I rent out.

 

I was looking in aberdeen recently for a flat with da burd and the prices folk charge for absolute 1 bed shit holes is shocking, that's why we still commute from the shire.

 

One place looked decent in the online pics but when we went to view the bathroom ceiling was all but caving in and they wanted

[dazzy_deff]

I was looking in aberdeen recently for a flat with da burd and the prices folk charge for absolute 1 bed shit holes is shocking, that's why we still commute from the shire.

 

One place looked decent in the online pics but when we went to view the bathroom ceiling was all but caving in and they wanted

[weapon]

we charge 550 but it's in great condition.

 

Flat taken like??? Still on the lookout for a aberdeen flat, 1hr commute each way is a killer like

[dazzy_deff]

Flat taken like??? Still on the lookout for a aberdeen flat, 1hr commute each way is a killer like

Is at the moment aye. And it's a hoose with front and back garden too so even better than a flat.

[tutankamun]

I reckon I pay about 15% of my income on my mortgage.

 

Fuck paying half yer wages on digs, especially if you live on your own.

 

Obviously if you have a family, the quality of housing is more important but Big Man, I gather you live by yourself?

 

Surely you can find a compromise where you don't have to live in a shithole but also don't have to pay half your wages on rent?

[spamspamspam]

I've just been offered a new job in erm... Glasgow.

 

The money is utter pish - but it is a good job. I've been looking at halfway decent 1 bedroom flats and the rent will swallow close to 48% of my net pay.

 

Financial types seem to advocate spending no more than 35% of your net pay on rent.

 

If it's not too personal a question, what % of your income do you spend on rent/mortgage payments?

 

Would you rather live in a shit hole with plenty of disposable income, or a nice pad with slightly less...

 

 

Right now my rent and cooncil tax eat up a whopping 50.58% of my income. Fucking hate renting, cost in Aberdeen for what I need is atrocious!! Thats why I'm buying, got the mortgage in place and when I find somewhere suitable that will drop to around 27.5%

 

I'd rather live in a nice place surrounded by decent people and pay out for it though than live in a shitehole surrounded by thieves, junkies and alckies. I also have pets, means finding somewhere is even harder!

 

 

If you can get that down a wee bit though BM it'll make a huge difference. Paying out that much on rent has a serious impact on your social life.

[DD1903]

Big man, where is the job based and what area you looking at flats in? I will give you some advice as to where is best to avoid in the weeg.

[The Boofon]

I've just been offered a new job in erm... Glasgow.

 

The money is utter pish - but it is a good job. I've been looking at halfway decent 1 bedroom flats and the rent will swallow close to 48% of my net pay.

 

Financial types seem to advocate spending no more than 35% of your net pay on rent.

 

If it's not too personal a question, what % of your income do you spend on rent/mortgage payments?

 

Would you rather live in a shit hole with plenty of disposable income, or a nice pad with slightly less...

 

 

 

10%

[tainboy]

My house and 50% share in another don't ad up to 20%. Unless you're taking home thousands why on earth shell out loads on something you don't even own!

[tommo1903]

Now i've got my new job, its 20%. Live with the bird so it would normally be 40%.

 

Its in a nice area, and its a nice wee flat, but i reckon i can do better with my money.

 

Need to start saving to get a mortgage anyway, renting does my head in when I know that I could be spending the same amount of money and getting a tangible asset back for it, rather than effectively pissing it against the wall.

[muttondressedaslamb]

I've just been offered a new job in erm... Glasgow.

 

The money is utter pish - but it is a good job. I've been looking at halfway decent 1 bedroom flats and the rent will swallow close to 48% of my net pay.

 

Financial types seem to advocate spending no more than 35% of your net pay on rent.

 

If it's not too personal a question, what % of your income do you spend on rent/mortgage payments?

 

Would you rather live in a shit hole with plenty of disposable income, or a nice pad with slightly less...

 

 

19%

 

I prefer a disposable income.

[Jones]

I live in the centre of town, and all in(rent, CT, bills) costs me around 20% of income. 50% is pretty steep by anyone's standards, although all things being relative we'd need exact figures to know if that means you have to live like a hermit or not. I mean if you're paying 3k for a place but have 3k leftover, it's not that bad really!

[NorthernLights24]

I spend 24.5% of my pay on rent now. Might reduce that down to 18.6% in the near future

[Big Man]

Thanks all. Answering your various questions:

 

- Yeah i'll be living on my own (hopefully) - ideally I would like my own space.

 

- I'm definitely not on 6K a month, it'll be closer to 1/3 of that.

 

- 48% might sound like alot, but that's budgeted for cooncil tax, water charges G and E etc. I've just sold my car (you get no pleasure from driving in the city anyway) so I'll have minimal transportation costs and plan on walking everywhere. I've got no debt or other monthly outgoings to speak of.

 

- I'm used to paying central Edinburgh prices

Right now my rent and cooncil tax eat up a whopping 50.58% of my income. Fucking hate renting, cost in Aberdeen for what I need is atrocious!! Thats why I'm buying, got the mortgage in place and when I find somewhere suitable that will drop to around 27.5%

 

I'd rather live in a nice place surrounded by decent people and pay out for it though than live in a shitehole surrounded by thieves, junkies and alckies. I also have pets, means finding somewhere is even harder!

 

If you can get that down a wee bit though BM it'll make a huge difference. Paying out that much on rent has a serious impact on your social life.

 

Phew... I'm glad to see I'm not the only cunt who has done this.

 

I'm only 24, I'm not like your Dazzy Deffs and your Boofons with a 6 figure salary a nice property portfolio. This is my first proper job, I'm just starting out, so i know i'll have to spend a higher proportion of my income on rent than is normal.

 

Your exactly right about surroundings like - i don't want to be surrounded by thieves, junkies and alckies.

 

Big man, where is the job based and what area you looking at flats in? I will give you some advice as to where is best to avoid in the weeg.

 

Thanks DD. I'll be based in Carlton Place.

 

I honestly don't know where is best to look. I only just started looking this week actually. I don't have a clue about Glasgow, so any analysis you can offer would be greatly appreciated.

 

Everyone talks about the West End so i've been looking there. Places like Glasgow Harbour Terrace, Meadowside Quay Square.

 

 

[tommo1903]

I forgot to add in Council Tax.

 

Its closer to 24% then.

 

All my bills woould amount to around 28%, but I'm also about to get a car which I reckon will cost another 300 quid a month (if I'm lucky).

[muttondressedaslamb]

Shawlands Big Man

 

Loved living there.

[fifered]

I think most folk struggle when they are first getting on the property ladder with a new job. It gets much easier I found after a few years. Thinking back to my first place, I think I was about 30-40% on mortgage, bills etc. wait till you have a kid and your mrs goes on part time pay!

[DD1903]

pretty central then. You can't really go wrong with the west end, but you'll pay a higher price for it. Don't go too west though! Its not a part of the city that im too aware of, but have mates that live thereabouts, as does the mrs. As mdal say shawlands is a nice bit, with some cracking flats.im there just now myself. However, buy to let has resulted in some less desirables moving into the area. Still has great aspects about - pubs and restaurants right on the doorstep and buses/trains into the centre galore. Still loads of young professionals in the area though.

 

The further south you go the better. East Renfrewshire is on the south of Glasgow. It's a nice area. Affluent, so therefore quiet with little trouble. Good transport to the city, but little in the way of night life.

 

I'm more than happy to help BM, so give me a shout if you see somewhere. If I know an area I'll give

you my thoughts. If I don't, I'll try to find some stuff out. Can't have a fellow dandy in a shit hole!

 

As a rule, avoid anywhere that ends in 'hill'! Govan hill, priesthill, blackhill...all dives.

Shawlands Big Man

 

Loved living there.

 

 

There just now myself! Not what it used to be, but still a good bit to be. Buy to let has ruined it slightly now. Where'd you stay?

[tainboy]

I wouldn't want to live anywhere south of the Garrick junction for fearn. Far too many undesirables.

 

 

Actually, change that to meikle ferry. And certainly no further north than cambusavie. Although there's a high percentage of white settlers we usually keep them under control by minding our own business or muttering intolerably in their company.

[Bluto10]

I've just been offered a new job in erm... Glasgow.

 

The money is utter pish - but it is a good job. I've been looking at halfway decent 1 bedroom flats and the rent will swallow close to 48% of my net pay.

 

Financial types seem to advocate spending no more than 35% of your net pay on rent.

 

If it's not too personal a question, what % of your income do you spend on rent/mortgage payments?

 

Would you rather live in a shit hole with plenty of disposable income, or a nice pad with slightly less...

 

 

i wouldnt listen to financial types then if i were you BM.

 

imo there are two things in life worth spending money on and thats you house and holidays. not to thedetriment of everyday living of course but investing in your dwelling is better than some faceless bank account/pension/etc.

[Monkey]

As a rule, avoid anywhere that ends in 'hill'! Govan hill, priesthill, blackhill...all dives.

 

I'd also avoid the "new" Gorbals, despite what estate agents tell you. The properties may all be new and the area redeveloped but it's still a place where it's recommended that you drive to and from and walking home is still not a wise move.

 

Merchant City is a good shout for central location and loads of bars and restaurants on your doorstep.

[Henry]

Have a look at Dennistoun Big Man

[StandFree1982]

Between the two of us, we are paying probably around 24% of our monthly earnings on the Mortgage.

[Henry]

Are we?