Go Back  British Expats > Living & Moving Abroad > Australia
Reload this Page >

How much do you pay for your mortgage/rent?

How much do you pay for your mortgage/rent?

Old Jan 24th 2009, 10:12 am
  #31  
mmmmmm duff
 
MarkMC's Avatar
 
Joined: May 2006
Location: Maudsland, Gold Coast, QLD
Posts: 1,629
MarkMC is a glorious beacon of lightMarkMC is a glorious beacon of lightMarkMC is a glorious beacon of lightMarkMC is a glorious beacon of lightMarkMC is a glorious beacon of lightMarkMC is a glorious beacon of lightMarkMC is a glorious beacon of lightMarkMC is a glorious beacon of lightMarkMC is a glorious beacon of lightMarkMC is a glorious beacon of lightMarkMC is a glorious beacon of light
Default Re: How much do you pay for your mortgage/rent?

about 45%, but that is only short term. We have not been here long, took a house slightly more expensive than we wanted, and took a job on lower wages to get started. Having said all that, there is a surplus from the people renting our house in the UK too.
MarkMC is offline  
Old Jan 24th 2009, 10:22 am
  #32  
Outback Club Member
 
Joined: Apr 2008
Location: Wherever I lay my hat
Posts: 105
Paddy_M has a brilliant futurePaddy_M has a brilliant futurePaddy_M has a brilliant futurePaddy_M has a brilliant futurePaddy_M has a brilliant futurePaddy_M has a brilliant futurePaddy_M has a brilliant future
Default Re: How much do you pay for your mortgage/rent?

Surely % of income is (almost) meaningless and it is what you can afford.

A person with net income of $40,000 with 30% for mortgage is left with $28k

A person with net income of $60,000 with 50% for mortgage is left with $30k

Just a thought.
Paddy_M is offline  
Old Jan 24th 2009, 11:04 am
  #33  
 
Joined: Nov 2008
Posts: 1,144
viviennef is an unknown quantity at this point
Default Re: How much do you pay for your mortgage/rent?

I've got a rubbish house and pay 45% at least. couldnt get smaller. I am very mortgage stressed. Sometimes things go well though and then its less than that.


But I do have a back up plan

Vivienne
viviennef is offline  
Old Jan 24th 2009, 1:26 pm
  #34  
Auntie Fa
 
Joined: Nov 2006
Location: Seattle
Posts: 7,344
Kooky. has a reputation beyond reputeKooky. has a reputation beyond reputeKooky. has a reputation beyond reputeKooky. has a reputation beyond reputeKooky. has a reputation beyond reputeKooky. has a reputation beyond reputeKooky. has a reputation beyond reputeKooky. has a reputation beyond reputeKooky. has a reputation beyond reputeKooky. has a reputation beyond reputeKooky. has a reputation beyond repute
Default Re: How much do you pay for your mortgage/rent?

Originally Posted by viviennef View Post
I've got a rubbish house and pay 45% at least. couldnt get smaller. I am very mortgage stressed. Sometimes things go well though and then its less than that.


But I do have a back up plan

Vivienne
Are you the one blowing up all the ATMs in Sydney?
Kooky. is offline  
Old Jan 24th 2009, 6:51 pm
  #35  
Forum Regular
 
Joined: Jul 2007
Location: Worcester, England
Posts: 48
Amanda Jayne is an unknown quantity at this point
Default Re: How much do you pay for your mortgage/rent?

Originally Posted by Grayling View Post
0%
Or sleeping on a park bench?
Amanda Jayne is offline  
Old Jan 24th 2009, 9:06 pm
  #36  
 
Joined: Nov 2008
Posts: 1,144
viviennef is an unknown quantity at this point
Default Re: How much do you pay for your mortgage/rent?

mmm, ATMS. thats a thought.

Much more boring. Returning to full time work

I do work heaps but a fair part of it is on my husbands business bringing in work, part on a business venture that I can't draw on and partly on another partnership that will pay immediately but is not really what I want to be doing.

When I really am up against the wall which happens periodically, I just change focus to immediately paid work (no long term gain) - back up then is to get someone else to help me with the unpaid stuff.

We are in a difficult position financially because we decided to start out own stuff without adequate capital behind us. You really need at least 100k (more like 200k) I think to start a business properly but if you dont have it then you have to get skint doing it because cashflow is the killer of many small businesses. This means it takes forever to get going properly. Having lots of babies so quickly doesnt help.

Anyway, hopefully it will all pay off and in 5 years we will get solvent! I have to stay in with the kids now so its kind of the right time.

I have another great business idea though too as plan c involving dirty knicker sales...... Of course I wouldnt be the knicker provider but I think on another thread, I have a potential supplier

Vivienne
viviennef is offline  
Old Jan 26th 2009, 9:22 pm
  #37  
Oiiii.. You slaggg!
 
DunRoaminTheUK's Avatar
 
Joined: Feb 2004
Location: Brisbaneshire
Posts: 5,209
DunRoaminTheUK has a reputation beyond reputeDunRoaminTheUK has a reputation beyond reputeDunRoaminTheUK has a reputation beyond reputeDunRoaminTheUK has a reputation beyond reputeDunRoaminTheUK has a reputation beyond reputeDunRoaminTheUK has a reputation beyond reputeDunRoaminTheUK has a reputation beyond reputeDunRoaminTheUK has a reputation beyond reputeDunRoaminTheUK has a reputation beyond reputeDunRoaminTheUK has a reputation beyond reputeDunRoaminTheUK has a reputation beyond repute
Default Re: How much do you pay for your mortgage/rent?

Originally Posted by pazza View Post
Are these percentages based on 100% mortgages, or have a lot of you paid a substantial deposit.
Hope thats not too cheeky a question, just curious to see what i'm going to be able to afford.
We put down about 45% of the total value of our mortgage as a deposit which made **** all difference to us when the interest rates went sky-high last year.

We are in a much better position now as we are paying almost $1,000 per month less than we were about 6 months ago (and I'm assuming it's going to go lower still?).
DunRoaminTheUK is offline  
Old Jan 26th 2009, 9:44 pm
  #38  
BE Enthusiast
 
JCSUPERMOTO's Avatar
 
Joined: Jan 2008
Location: Bromsgrove/Melbourne
Posts: 606
JCSUPERMOTO has much to be proud ofJCSUPERMOTO has much to be proud ofJCSUPERMOTO has much to be proud ofJCSUPERMOTO has much to be proud ofJCSUPERMOTO has much to be proud ofJCSUPERMOTO has much to be proud ofJCSUPERMOTO has much to be proud ofJCSUPERMOTO has much to be proud ofJCSUPERMOTO has much to be proud ofJCSUPERMOTO has much to be proud ofJCSUPERMOTO has much to be proud of
Default Re: How much do you pay for your mortgage/rent?

Why didnt it make any differnce if you put down 45%?
Was the interest rate high last year then?
And whats the fixed rates at the monet or trackers please?
cheers jase
JCSUPERMOTO is offline  
Old Jan 26th 2009, 9:53 pm
  #39  
Oiiii.. You slaggg!
 
DunRoaminTheUK's Avatar
 
Joined: Feb 2004
Location: Brisbaneshire
Posts: 5,209
DunRoaminTheUK has a reputation beyond reputeDunRoaminTheUK has a reputation beyond reputeDunRoaminTheUK has a reputation beyond reputeDunRoaminTheUK has a reputation beyond reputeDunRoaminTheUK has a reputation beyond reputeDunRoaminTheUK has a reputation beyond reputeDunRoaminTheUK has a reputation beyond reputeDunRoaminTheUK has a reputation beyond reputeDunRoaminTheUK has a reputation beyond reputeDunRoaminTheUK has a reputation beyond reputeDunRoaminTheUK has a reputation beyond repute
Default Re: How much do you pay for your mortgage/rent?

Originally Posted by JCSUPERMOTO View Post
Why didnt it make any differnce if you put down 45%?
Was the interest rate high last year then?
And whats the fixed rates at the monet or trackers please?
cheers jase
Sorry, I got my sums wrong. It was actually about 30% but the cost of the house was $550,000 so when alls said and done our mortgage was still sufficiently large enough to be 'doable' when we first arranged it but far less 'doable' when our initial rate had risen by almost 2%.

We are currently paying less than our initial rate so alls good.
DunRoaminTheUK is offline  
Old Jan 26th 2009, 10:18 pm
  #40  
Forum Regular
 
Joined: Jun 2008
Location: Melbourne
Posts: 68
elmao is on a distinguished road
Default Re: How much do you pay for your mortgage/rent?

25-30% on rent depending on our income for the week!
elmao is offline  
Old Jan 26th 2009, 10:19 pm
  #41  
Forum Regular
 
Joined: Jan 2009
Location: Sydney
Posts: 45
highersights is a jewel in the roughhighersights is a jewel in the roughhighersights is a jewel in the roughhighersights is a jewel in the rough
Default Re: How much do you pay for your mortgage/rent?

Originally Posted by CDM View Post
As a percentage of your total net household income, approximately how much goes on monthly mortgage/rent payments? 20%? 30%? 50%?

- CDM
Rent is 40% of take-home pay (Sydney)

Last edited by highersights; Jan 26th 2009 at 10:23 pm.
highersights is offline  
Old Jan 28th 2009, 3:09 pm
  #42  
Just Joined
 
Joined: Mar 2008
Location: Soon to be Melbourne!
Posts: 1
fudge7000 is an unknown quantity at this point
Default Re: How much do you pay for your mortgage/rent?

my morgage in england is about 60% of my wage! am hoping for a much lower % when renting in melbourne!
fudge7000 is offline  
Old Jan 28th 2009, 8:36 pm
  #43  
Wol
Lost in BE Cyberspace
 
Wol's Avatar
 
Joined: Mar 2003
Posts: 9,397
Wol has a reputation beyond reputeWol has a reputation beyond reputeWol has a reputation beyond reputeWol has a reputation beyond reputeWol has a reputation beyond reputeWol has a reputation beyond reputeWol has a reputation beyond reputeWol has a reputation beyond reputeWol has a reputation beyond reputeWol has a reputation beyond reputeWol has a reputation beyond repute
Default Re: How much do you pay for your mortgage/rent?

The three rentals we had to use before building our own place cost $720, $750 and $370 per week. Percentages of income don't say much <g>.
Wol is offline  

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Contact Us - Archive - Advertising - Cookie Policy - Privacy Statement - Terms of Service - Do Not Sell My Personal Information -

Copyright © 2021 MH Sub I, LLC dba Internet Brands. All rights reserved. Use of this site indicates your consent to the Terms of Use.