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

How much cani afford

How much cani afford

Old Mar 3rd 2018, 12:18 pm
  #1  
Forum Regular
Thread Starter
 
Joined: Feb 2016
Posts: 137
DaleBoy has a reputation beyond reputeDaleBoy has a reputation beyond reputeDaleBoy has a reputation beyond reputeDaleBoy has a reputation beyond reputeDaleBoy has a reputation beyond reputeDaleBoy has a reputation beyond reputeDaleBoy has a reputation beyond reputeDaleBoy has a reputation beyond reputeDaleBoy has a reputation beyond reputeDaleBoy has a reputation beyond reputeDaleBoy has a reputation beyond repute
Default How much cani afford

Stupid question, I am trying to figure out how much a can afford to rent and won't really know until I get my payslips. I have used various online calculators, any ideas?
My salary annual 61900 and rent 1800 pm including water and heating. My wife is currently looking for a job. Any ideas
DaleBoy is offline  
Old Mar 3rd 2018, 1:24 pm
  #2  
BE Forum Addict
 
DandNHill's Avatar
 
Joined: Nov 2009
Location: Somewhere in Hamilton, ON
Posts: 4,307
DandNHill has a reputation beyond reputeDandNHill has a reputation beyond reputeDandNHill has a reputation beyond reputeDandNHill has a reputation beyond reputeDandNHill has a reputation beyond reputeDandNHill has a reputation beyond reputeDandNHill has a reputation beyond reputeDandNHill has a reputation beyond reputeDandNHill has a reputation beyond reputeDandNHill has a reputation beyond reputeDandNHill has a reputation beyond repute
Default Re: How much cani afford

Originally Posted by DaleBoy
Stupid question, I am trying to figure out how much a can afford to rent and won't really know until I get my payslips. I have used various online calculators, any ideas?
My salary annual 61900 and rent 1800 pm including water and heating. My wife is currently looking for a job. Any ideas
As a rule of thumb they say 30% of your income.
DandNHill is offline  
Old Mar 3rd 2018, 3:55 pm
  #3  
Forum Regular
Thread Starter
 
Joined: Feb 2016
Posts: 137
DaleBoy has a reputation beyond reputeDaleBoy has a reputation beyond reputeDaleBoy has a reputation beyond reputeDaleBoy has a reputation beyond reputeDaleBoy has a reputation beyond reputeDaleBoy has a reputation beyond reputeDaleBoy has a reputation beyond reputeDaleBoy has a reputation beyond reputeDaleBoy has a reputation beyond reputeDaleBoy has a reputation beyond reputeDaleBoy has a reputation beyond repute
Default Re: How much cani afford

Originally Posted by DandNHill
As a rule of thumb they say 30% of your income.
b4 or after tax
DaleBoy is offline  
Old Mar 3rd 2018, 3:57 pm
  #4  
 
Joined: Sep 2008
Posts: 12,830
Aviator has a reputation beyond reputeAviator has a reputation beyond reputeAviator has a reputation beyond reputeAviator has a reputation beyond reputeAviator has a reputation beyond reputeAviator has a reputation beyond reputeAviator has a reputation beyond reputeAviator has a reputation beyond reputeAviator has a reputation beyond reputeAviator has a reputation beyond reputeAviator has a reputation beyond repute
Default Re: How much cani afford

Originally Posted by DaleBoy
Stupid question, I am trying to figure out how much a can afford to rent and won't really know until I get my payslips. I have used various online calculators, any ideas?
If you don't know, how will anyone else!
Aviator is offline  
Old Mar 3rd 2018, 4:16 pm
  #5  
Lost in BE Cyberspace
 
Joined: Nov 2011
Location: Somewhere between Vancouver & St Johns
Posts: 19,840
Former Lancastrian has a reputation beyond reputeFormer Lancastrian has a reputation beyond reputeFormer Lancastrian has a reputation beyond reputeFormer Lancastrian has a reputation beyond reputeFormer Lancastrian has a reputation beyond reputeFormer Lancastrian has a reputation beyond reputeFormer Lancastrian has a reputation beyond reputeFormer Lancastrian has a reputation beyond reputeFormer Lancastrian has a reputation beyond reputeFormer Lancastrian has a reputation beyond reputeFormer Lancastrian has a reputation beyond repute
Default Re: How much cani afford

Also helps if you let us know where you will be looking at.

Bit of a difference in rental prices in Vancouver compared to say Winnipeg.
Are you looking at a house, high rise, condo or even a trailer style home?
Former Lancastrian is offline  
Old Mar 3rd 2018, 5:07 pm
  #6  
Banned
 
Joined: Apr 2009
Location: SW Ontario
Posts: 19,879
Siouxie has a reputation beyond reputeSiouxie has a reputation beyond reputeSiouxie has a reputation beyond reputeSiouxie has a reputation beyond reputeSiouxie has a reputation beyond reputeSiouxie has a reputation beyond reputeSiouxie has a reputation beyond reputeSiouxie has a reputation beyond reputeSiouxie has a reputation beyond reputeSiouxie has a reputation beyond reputeSiouxie has a reputation beyond repute
Default Re: How much cani afford

Originally Posted by DaleBoy
b4 or after tax
This might help

https://www.thespruce.com/online-too...-afford-156204

Last edited by Siouxie; Mar 3rd 2018 at 5:10 pm.
Siouxie is offline  
Old Mar 3rd 2018, 5:17 pm
  #7  
Account Closed
 
Joined: Jan 2006
Posts: 0
scrubbedexpat091 has a reputation beyond reputescrubbedexpat091 has a reputation beyond reputescrubbedexpat091 has a reputation beyond reputescrubbedexpat091 has a reputation beyond reputescrubbedexpat091 has a reputation beyond reputescrubbedexpat091 has a reputation beyond reputescrubbedexpat091 has a reputation beyond reputescrubbedexpat091 has a reputation beyond reputescrubbedexpat091 has a reputation beyond reputescrubbedexpat091 has a reputation beyond reputescrubbedexpat091 has a reputation beyond repute
Default Re: How much cani afford

The experts say 30% but depending where in Canada you reside that may not be a reaslistic number.

In Vancouver it may not be possible although at that income level you could possible stay within 30% if not picky about area.
scrubbedexpat091 is offline  
Old Mar 4th 2018, 10:38 am
  #8  
Forum Regular
Thread Starter
 
Joined: Feb 2016
Posts: 137
DaleBoy has a reputation beyond reputeDaleBoy has a reputation beyond reputeDaleBoy has a reputation beyond reputeDaleBoy has a reputation beyond reputeDaleBoy has a reputation beyond reputeDaleBoy has a reputation beyond reputeDaleBoy has a reputation beyond reputeDaleBoy has a reputation beyond reputeDaleBoy has a reputation beyond reputeDaleBoy has a reputation beyond reputeDaleBoy has a reputation beyond repute
Default Re: How much cani afford

Originally Posted by Former Lancastrian
Also helps if you let us know where you will be looking at.

Bit of a difference in rental prices in Vancouver compared to say Winnipeg.
Are you looking at a house, high rise, condo or even a trailer style home?
Halifax
DaleBoy is offline  
Old Mar 4th 2018, 12:18 pm
  #9  
Lost in BE Cyberspace
 
Joined: Nov 2011
Location: Somewhere between Vancouver & St Johns
Posts: 19,840
Former Lancastrian has a reputation beyond reputeFormer Lancastrian has a reputation beyond reputeFormer Lancastrian has a reputation beyond reputeFormer Lancastrian has a reputation beyond reputeFormer Lancastrian has a reputation beyond reputeFormer Lancastrian has a reputation beyond reputeFormer Lancastrian has a reputation beyond reputeFormer Lancastrian has a reputation beyond reputeFormer Lancastrian has a reputation beyond reputeFormer Lancastrian has a reputation beyond reputeFormer Lancastrian has a reputation beyond repute
Default Re: How much cani afford

https://www.padmapper.com/apartments/halifax-ns
Former Lancastrian is offline  
Old Mar 4th 2018, 12:32 pm
  #10  
 
Pulaski's Avatar
 
Joined: Dec 2001
Location: Dixie, ex UK
Posts: 52,397
Pulaski has a reputation beyond reputePulaski has a reputation beyond reputePulaski has a reputation beyond reputePulaski has a reputation beyond reputePulaski has a reputation beyond reputePulaski has a reputation beyond reputePulaski has a reputation beyond reputePulaski has a reputation beyond reputePulaski has a reputation beyond reputePulaski has a reputation beyond reputePulaski has a reputation beyond repute
Default Re: How much cani afford

Originally Posted by DandNHill
As a rule of thumb they say 30% of your income.
But that percentage tends to be higher for those on low income and fall as income rises.
Pulaski is offline  
Old Mar 4th 2018, 2:26 pm
  #11  
BE Forum Addict
 
DandNHill's Avatar
 
Joined: Nov 2009
Location: Somewhere in Hamilton, ON
Posts: 4,307
DandNHill has a reputation beyond reputeDandNHill has a reputation beyond reputeDandNHill has a reputation beyond reputeDandNHill has a reputation beyond reputeDandNHill has a reputation beyond reputeDandNHill has a reputation beyond reputeDandNHill has a reputation beyond reputeDandNHill has a reputation beyond reputeDandNHill has a reputation beyond reputeDandNHill has a reputation beyond reputeDandNHill has a reputation beyond repute
Default Re: How much cani afford

Originally Posted by Pulaski
But that percentage tends to be higher for those on low income and fall as income rises.
Absolutely. But that’s what is supposedly the right percentage.

When I worked in NS with at risk youth they would be paying 80% if not more and moving on when they got evicted for non payment. They would come to us for food and go to the food bank. Not a life by any bodies standards.

Once you are in that downward spiral it can be tough to get out of it.
DandNHill is offline  
Old Mar 4th 2018, 2:35 pm
  #12  
 
Pulaski's Avatar
 
Joined: Dec 2001
Location: Dixie, ex UK
Posts: 52,397
Pulaski has a reputation beyond reputePulaski has a reputation beyond reputePulaski has a reputation beyond reputePulaski has a reputation beyond reputePulaski has a reputation beyond reputePulaski has a reputation beyond reputePulaski has a reputation beyond reputePulaski has a reputation beyond reputePulaski has a reputation beyond reputePulaski has a reputation beyond reputePulaski has a reputation beyond repute
Default Re: How much cani afford

Originally Posted by DandNHill
Absolutely. But that’s what is supposedly the right percentage. ....
Correct, but on minimum wage it could be 50% or more, even for fairly basic accommodation.
Pulaski is offline  
Old Mar 5th 2018, 3:26 am
  #13  
Account Closed
 
Joined: Jan 2006
Posts: 0
scrubbedexpat091 has a reputation beyond reputescrubbedexpat091 has a reputation beyond reputescrubbedexpat091 has a reputation beyond reputescrubbedexpat091 has a reputation beyond reputescrubbedexpat091 has a reputation beyond reputescrubbedexpat091 has a reputation beyond reputescrubbedexpat091 has a reputation beyond reputescrubbedexpat091 has a reputation beyond reputescrubbedexpat091 has a reputation beyond reputescrubbedexpat091 has a reputation beyond reputescrubbedexpat091 has a reputation beyond repute
Default Re: How much cani afford

I've never paid 30% of my income in rent, generally its always been between 50% and 75% for rent.

We are at about 55-60% of total income to rent currently.


To get to 30% of income going to rent, we would need to make about 75,000 a year which is never going to happen....lol
scrubbedexpat091 is offline  
Old Mar 14th 2018, 3:09 pm
  #14  
Dichotomus tinker
 
not2old's Avatar
 
Joined: Aug 2013
Location: Ontario, Canada
Posts: 6,660
not2old has a reputation beyond reputenot2old has a reputation beyond reputenot2old has a reputation beyond reputenot2old has a reputation beyond reputenot2old has a reputation beyond reputenot2old has a reputation beyond reputenot2old has a reputation beyond reputenot2old has a reputation beyond reputenot2old has a reputation beyond reputenot2old has a reputation beyond reputenot2old has a reputation beyond repute
Default Re: How much cani afford

OP, I'd go with the comment below at the 50% mark, if its better than that then you have extra cash flow

of course depends where you live as well as the type of accommodations you are looking at from basic to extreme luxury

Originally Posted by Jsmth321
I've never paid 30% of my income in rent, generally its always been between 50% and 75% for rent.

We are at about 55-60% of total income to rent currently.

To get to 30% of income going to rent, we would need to make about 75,000 a year which is never going to happen....lol
not2old is offline  
Old Mar 15th 2018, 8:12 pm
  #15  
BE Forum Addict
 
DandNHill's Avatar
 
Joined: Nov 2009
Location: Somewhere in Hamilton, ON
Posts: 4,307
DandNHill has a reputation beyond reputeDandNHill has a reputation beyond reputeDandNHill has a reputation beyond reputeDandNHill has a reputation beyond reputeDandNHill has a reputation beyond reputeDandNHill has a reputation beyond reputeDandNHill has a reputation beyond reputeDandNHill has a reputation beyond reputeDandNHill has a reputation beyond reputeDandNHill has a reputation beyond reputeDandNHill has a reputation beyond repute
Default Re: How much cani afford

Originally Posted by not2old
OP, I'd go with the comment below at the 50% mark, if its better than that then you have extra cash flow

of course depends where you live as well as the type of accommodations you are looking at from basic to extreme luxury
@not2old. Hi it’s been a while since we’ve seen you 😀
DandNHill 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 -

Copyright © 2024 MH Sub I, LLC dba Internet Brands. All rights reserved. Use of this site indicates your consent to the Terms of Use.