How much would you need to make, to live a comfortable live outside London (Northwood).
We are 2 adults and two kids from 8 and 10 with a lot of hobby's.

It depends what you equate as comfortable? If it means being able to pay the bills on time every month with a bit over and considering that London is the most expensive region in the country....50K I would think is conservative for a family of 4.

Would that be before tax?

If yes...we should be really ok with a income of about 55k including buying a house?? Plus anything I would ever make, if I would go to work....

Is that true that you are tax wise better of, two people making 25k then one making 50K?

I am not absolutely certain to be honest, but having a couple of children...depending on age you should be entitled to certain tax breaks which should help.

Yes, since neither of you would pay tax in the higher tax bracket, plus you would both have the tax-free allowance.

I don't know the exact cut-off points but at a guess/approximation, first £4k is tax-free, then 23% tax up to £28K, and 40% over £28k. I think there is a higher bracket still but no idea of the threshold.

I think that figure is too low. For a start the house itself woulf be say £350k, which is around £3,000/month on a mortgage (that's £5k before tax) add cars, and general "stuff" I'd say you need at least £80K!!

And I've lived many years in London too!

i agree at least 80K to get by, but more if you have hobbies and dont want to have to watch spending

Whenever the price of housing is mentioned in a thread here, the mortgage payments are always assumed at 100%. Makes housing sound so much more expensive. Doesn't anyone these days have a down payment or money from previous home to put down to reduce the actual mortgage?

These figues seem quite high - I think you'd be fine on 45K, as long as you weren't going crazy and spending beyond your means.

It's all relative really - depends what kind of lifestyle you intend to live and what the maket value is for your profession.

This sounds about right.

A 95% mortgage and kids with only one wage could be a killer. Don't forget that child benefit isn't means tested in the UK though

We managed on £60K outside London, just. There is no point going back if it is going to be a ffinancialhurdle with no holidays!

80k??? Come on guys..who is making that kind of money?
Yes we are able to put a big chunk towards the house...but I'm not sure if we will buy....people say the house prices will not come down..but I'm not convinced. I dont want to end up paying for a 300.000k house thats only worth 200.000 in the end.

Unless I find a bargain, I will not buy at those prices.

Keep an eye on the news reels and data summaries (esp. land registry quarterlies) at www.housepricecrash.co.uk. The smart money is in renting at the moment in the UK (and Australia and America) according to The Economist and Financial Times. No hurry.

Yes I know..but house prices in London already on the up again ....I'm not sure about the people from housepricecrash, they predicting the crash since 3 years . Most people seems to think now that the prices will stay flat for a while a not drop.
We will rent and see what will happen....luckily the house prices go very slow up...so no hurry

I'm now going to show my age. In 1982 I rented a flat in Fulham and lived off $3500 grant money and a summer part time job. No kids, no car, lots of time in the pub and rounds of golf on the public couses in Richmond. That's what I call "comfortable" living. My current planning has me buying a home so I don't have a mortgage and living off 15k pounds a year before tax, which is the equivalent of my annual expenditure in the US (excluding housing)

Sorry, but I dont understand what you want to say