[pleccy2000]

What % of you household income (net) goes on your mortgage? This includes your income and your partners income.

To state the obvious say you earn $3000 and your partner also $3000 and your mortgage is $2000 dollars a month then that equals 33%

Please note the figure to work it out from is your income AFTER tax has been deducted.

You can answer what ever country you live in.

[Moorf]

I've voted on our rental outgoing as a % as we don't have a house yet.

Current rental is approx 50% of current income!! Big Chunk!!

Moorf

[jo b]

Pleccy

sorry I thought you meant UK not NZ so discount the 1-15% vote sorry

Jo

[Dave & Sandra]

We don't have a mortgage - whoopee

Sandra

[Wannaway]

We are currently renting but will buy when we have decided on the right area and found the right house.

Our rent is a whopping 45% of my take home (cpompared to mortgage in UK which was 27%) and I hate renting, not just that it is a waste of money but also perceived lack of security in not owning your own roof.

W hoope to be mortgage free here but will depend on two major factors, namely that exchange rate will imprve over the next yar or so and house prices start getting sensible in Auckland. Having said that, we have just spent a couple of days in the Western Bay of Plenty (really beautiful by the way) and house prices seem a bit steep there also!

Lee

[leslie]

in london our mortgage is a lofty 35-40% post-tax income. sydney would have been the same. how is nz shaping up? is wellington v diff from auck?

[cpgrant]

I'm currently renting and the rent payment takes less than 10% of net pay. In the area where I'm located (SW Montana), rents are ridiculously low. In many coastal cities, people pay more for monthly parking than we pay for rent out here.

[pleccy2000]

Glad to see nobody's above 60%!

[pleccy2000]

Thanks for the replies, I think I'tt try to keep it under 45% like the rest of you guys do.

[Avalon]

Currently rent is 45% of take home pay, and ive set the mortgage to have the same repayment as the rent. However - hubby is starting a new job soon, and it goes down to about 33% of take home. We will however be paying off more than that to get the mortgage gone quicker.

If it helps, one of the banks (ASB i think) said they like to work out repayments on the basis that it shoul be 30-40% of your income.

Avalon

[Singel]

Our mortgage is 30% of our combine take home pay.

:cheers

[selchie]

Our base mortgage is about 10%, but we put in a bit more to pay down the mortgage. But we're lucky to have gotten a good house at a good price (11 years ago), and have a good income. If we were to buy the same house today, we'd pay about 25%.