About to spend 40% net monthly for rent...What do you spend?

[TXJ]

I am paying about 18% for a 3 bedroom house with garage and big yard, but it is not in the best area. Only takes me about 10 minutes to get into town though, just put a couple security cameras up and am building a big 10ft fence around the whole house. I enjoy my fortress in the barrio.

[JoshSP1985]

40% is pretty high , 25% net is usually the suggested cap. With that said when my house purchase goes through I'll be about 30%

It's going to be a little tight (only about 1000 a month left over after budget) until my kids get into public school then that's another 1400 a month available so should be good to go

Bought a 2500 sq ft 3/3 house for 305k in a custom development houses go up to about 550k in the neighborhood it's super nice with 9 ft ceilings , sold surface counters, etc etc on a half acre lot in a super prime location. House would be 900k+ on the east coast.

[bsmit107]

14% of Net Income for rent/bills

....But add my student loan payment to that and it becomes 31%

So yea Fuk me, right?

[trufflepigg]

net 6k
mortgage + insurance + utilities + tax = 2.5k

but I got 2 renters right now paying total 1.4k, so I actually only pay 1.1k

bout 15% then

[Billynghialam]

16% crew checking in, its nice having girlfriend that also works.

[liftersize]

Just calculated it and I am about 34%

[BlueSasquatch]

25% and that's to own, but also wife pays half so I suppose 12.5%

[RudeKong]

24% but for a 3bd 2bth house with a big yard. I also pay more every month into my mortgage so it ends up being a little under 30%. Its also in a great location for me. Almost everything I need is within 1.5 miles. Work, gym, grocery store, night life/bars and such so I just walk or bike everywhere. Its also 1 mile from highway access so I can get around town in a breeze when I need to. I also have 0 debt other than mortgage so its really not bad at all.

[backintheda]

I just did the math, I am at about 20%.

[zackk14]

15%

[zackk14]

this

[zackk14]

this

[InfinityThor]

I pay around 30% net for my mortgage repayment.

[zackk14]

15%

[zilaniz]

pretty much exactly 25%, but that covers all utilities except for cable/internet.

[zackk14]

15%

[GNCPOV]

Good thread. Just remember guys that these "rules of thumb" are just that; it's difficult to know what's excessive and what's appropriate. For many people, getting under 25% of net or even gross is very difficult, especially in higher cost of living areas (SF, NY, DC, etc.). There's usually a reason for that though. As a poster mentioned earlier, they may spend something like 40% for their apartment, but it's in the middle of the city where you don't need a car and spend 0 of your time commuting. To some, recapturing 1-2 hours our your day is worth a hefty premium. they may also include amenities like a gym and other perks like a pool, grills, concierge service etc.

Also, remember that those percentages are relative. The guy or gal spending even 50% of his income on an apartment might still have $2000/mo left for savings and other living expenses as incomes in HCOL areas also tend to be higher. That beats (in most cases) the guy spending only 25% who has only $1500 discretionary remaining, all else being equal. And that's just from most young guy's standpoint. Obviously having kids, caring for aging parents or relatives, digging out of high student loan debt etc. all factors into it.

[LexBrah]

Good thread. Just remember guys that these "rules of thumb" are just that; it's difficult to know what's excessive and what's appropriate. For many people, getting under 25% of net or even gross is very difficult, especially in higher cost of living areas (SF, NY, DC, etc.). There's usually a reason for that though. As a poster mentioned earlier, they may spend something like 40% for their apartment, but it's in the middle of the city where you don't need a car and spend 0 of your time commuting. To some, recapturing 1-2 hours our your day is worth a hefty premium. they may also include amenities like a gym and other perks like a pool, grills, concierge service etc.

Also, remember that those percentages are relative. The guy or gal spending even 50% of his income on an apartment might still have $2000/mo left for savings and other living expenses as incomes in HCOL areas also tend to be higher. That beats (in most cases) the guy spending only 25% who has only $1500 discretionary remaining, all else being equal. And that's just from most young guy's standpoint. Obviously having kids, caring for aging parents or relatives, digging out of high student loan debt etc. all factors into it.

Capital Growth in the major cities is worth factoring in too. Having a house in london that goes up annually by 15% almost guaranteed is worth spending more on than the shetland islands

[DesiredUserphag]

LOL

I spend 8% on rent. Live with best friend so always fun to be had. Multiple girls per week enjoy coming over to get fuked in my king size bed. We have one at the moment and a few in the past who came over weekly to get ran through by both of us at the same time. Life is good

[SRTEvan]

20% of net checking in

[im2manly]

ITT people who rent or live in bumble fuk USA

A $2k a month mortgage in the North East, which does not get you a great house (i.e. probs like 1,200 sq feet) would mean you'd have to net $8,000 a month to be at 25% of take home. Which means you'd have to make ~150k--which isn't crazy but i doubt many people ITT pull that

[NYRFan68]

~9.8%. I pay ~750 CAD per month because I split w/ my fiancee. That is $1500 total for ~600 sq ft...Toronto is expensive. My effective tax rate ~30%.

[solidus2k3]

ITT people who rent or live in bumble fuk USA

A $2k a month mortgage in the North East, which does not get you a great house (i.e. probs like 1,200 sq feet) would mean you'd have to net $8,000 a month to be at 25% of take home. Which means you'd have to make ~150k--which isn't crazy but i doubt many people ITT pull that

in the misc, everyone is a CEO at 350k calories

[zebraman12]

Entrepreneur. Just sold a company and started another (first customer install next week!). Make $0 right now
Live in most desirable part of my city, literally walking distance to hottest bars. Rooftop deck. Total bachelor pad. $3K rent
Certain weeks I work 20 hours, others I work 100 hours.

[zackk14]

15%

[zackk14]

15%

[ILoveTrance]

25%

[DeBaie]

15% of Net Income.

[zackk14]

15%

[VmissileX]

I spend about 14%.


I'd rather have the money in other things like travel, drinks, parties, savings, etc...
What city you live in?