Apartment renters..how much do you spend?

[Dial_tone]

How much is your rent as a percentage of your after tax income? 33% is the recommendation for rent + utils in the budgets I see but they leave a lot of room (14%)for auto expenses I don't have. I might go to 40% to get this apt I want w/o taking on a roommate. I'd still have about $1,000 for misc stuff left over.

 

[puddlemonkey]

Nobody is going to admit to renting on EF.

 

[Dial_tone]

Lol

 

[75th]

I rent. It alone is about 10% of what I forecast will be the combined income between my wife and I this year. Then again, its only a one bedroom. Why pay for another bedroom or two if we dont need it yet.

If I add in utilities, cable, etc it would be more like 12%.

Just renewed my lease for another year. Look into a small house or large condo next year when the wife and I start trying to shit out kids.

 

[Dial_tone]

I rent. It alone is about 10% of what I forecast will be the combined income between my wife and I this year. Then again, its only a one bedroom. Why pay for another bedroom or two if we dont need it yet.

If I add in utilities, cable, etc it would be more like 12%.

Just renewed my lease for another year. Look into a small house or large condo next year when the wife and I start trying to shit out kids.

after tax income, doosh.

 

[75th]

after tax income, doosh.

Ah, fucker. Here I thought I was a big shot.

With my net income, Im looking at maybe 16%.

 

[jnevin]

after tax income, doosh.

Well, pre-tax income is what's used when qualifying for a purchase. When I bought my house, my payment was 10% of my pre-tax income. Um... things have changed since, but I have a tennant in the side next to me that makes things easier. I honestly wouldn't go over 25% of your pre-tax income. Shit can pop up out of nowhere.

 

[puddlemonkey]

Shit can pop up out of nowhere.

babies?

 

[jnevin]

babies?

That would be one of many things, yes.

 

[Dial_tone]

Well, pre-tax income is what's used when qualifying for a purchase. When I bought my house, my payment was 10% of my pre-tax income. Um... things have changed since, but I have a tennant in the side next to me that makes things easier. I honestly wouldn't go over 25% of your pre-tax income. Shit can pop up out of nowhere.

After tax is what's actually in your wallet. That's the only number I'm concerned with. Uncle Sam's share doesn't help me pay my bills.