How much cani afford
#1
Forum Regular
Thread Starter
Joined: Feb 2016
Posts: 137
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
My salary annual 61900 and rent 1800 pm including water and heating. My wife is currently looking for a job. Any ideas
#2
Re: 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
My salary annual 61900 and rent 1800 pm including water and heating. My wife is currently looking for a job. Any ideas
#5
Lost in BE Cyberspace
Joined: Nov 2011
Location: Somewhere between Vancouver & St Johns
Posts: 19,840
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?
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?
#6
Banned
Joined: Apr 2009
Location: SW Ontario
Posts: 19,879
Re: How much cani afford
Last edited by Siouxie; Mar 3rd 2018 at 5:10 pm.
#7
Account Closed
Joined: Jan 2006
Posts: 0
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.
In Vancouver it may not be possible although at that income level you could possible stay within 30% if not picky about area.
#9
Lost in BE Cyberspace
Joined: Nov 2011
Location: Somewhere between Vancouver & St Johns
Posts: 19,840
#11
Re: How much cani afford
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.
#13
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Joined: Jan 2006
Posts: 0
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
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
#14
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
of course depends where you live as well as the type of accommodations you are looking at from basic to extreme luxury
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
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