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Forum ยป About to spend 40% net monthly for rent...What do you spend?
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Thread: About to spend 40% net monthly for rent...What do you spend?

post 1452523223 07-13-2016, 09:21 AM
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#91
  1. TXJ
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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.
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post 1452523403 07-13-2016, 09:22 AM
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#92
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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.
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post 1452523473 07-13-2016, 09:22 AM
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#93
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14% of Net Income for rent/bills

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

So yea Fuk me, right?
post 1452523633 07-13-2016, 09:24 AM
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#94
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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
post 1452524293 07-13-2016, 09:30 AM
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#95
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16% crew checking in, its nice having girlfriend that also works.
post 1452524953 07-13-2016, 09:35 AM
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#96
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Just calculated it and I am about 34%
Best Gym Lifts: Squat: 395 Bench: 310 Deadlift: 535 Front Squat: 305

Just trying to stay lean
post 1452525003 07-13-2016, 09:35 AM
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#97
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25% and that's to own, but also wife pays half so I suppose 12.5%
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post 1452525513 07-13-2016, 09:39 AM
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#98
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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.
hard to hate on a fellow wings fan but....


i need to cut... badly.
post 1452527333 07-13-2016, 09:51 AM
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#99
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I just did the math, I am at about 20%.
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post 1452657973 07-14-2016, 04:30 AM
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#100
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post 1452666853 07-14-2016, 06:48 AM
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#101
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this
post 1452668703 07-14-2016, 07:04 AM
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#102
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this
post 1452669133 07-14-2016, 07:07 AM
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#103
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I pay around 30% net for my mortgage repayment.
post 1452670363 07-14-2016, 07:18 AM
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#104
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post 1452672643 07-14-2016, 07:33 AM
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#105
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pretty much exactly 25%, but that covers all utilities except for cable/internet.
post 1452681003 07-14-2016, 08:33 AM
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post 1452683523 07-14-2016, 08:53 AM
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#107
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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.
post 1452684003 07-14-2016, 08:57 AM
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#108
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Originally Posted By 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.
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
post 1452684263 07-14-2016, 08:58 AM
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#109
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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
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post 1452685073 07-14-2016, 09:04 AM
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#110
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20% of net checking in
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GTR crew.
post 1452686443 07-14-2016, 09:15 AM
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#111
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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
post 1452688113 07-14-2016, 09:27 AM
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#112
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~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%.
post 1452689233 07-14-2016, 09:33 AM
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#113
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Originally Posted By 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
in the misc, everyone is a CEO at 350k calories
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post 1452724083 07-14-2016, 01:35 PM
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#114
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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.
post 1452744483 07-14-2016, 03:40 PM
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#115
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post 1452822013 07-15-2016, 02:55 AM
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#116
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post 1452822733 07-15-2016, 03:12 AM
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#117
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25%
post 1452822873 07-15-2016, 03:15 AM
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#118
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15% of Net Income.
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post 1452841153 07-15-2016, 07:34 AM
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#119
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post 1452841653 07-15-2016, 07:39 AM
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#120
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I spend about 14%.


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