What's the maximum % of your income that can go to rent?

[bookwormmum]

The amount that real estate agents will use to determine if you can afford the place? I can't remember.

Also, does anyone know of a nice suburb in Melbourne where you can find a 3 bedroom home for around $300pw?? Or am I living in fantasy land

[mrsdj1234]

Point Cook has a few rentals at around that price (perhaps $330 at the most). We've just moved here and it seems lovely so far.

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[Elijahs Mum]

We normally do the same as banks for mortgage % around 30-35% of your income

[bookwormmum]

Point Cook has a few rentals at around that price (perhaps $330 at the most). We've just moved here and it seems lovely so far.

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Thanks, I'll have a look around there... DF is making it rather difficult, he doesn't want to leave the northern suburbs and he works in the inner city and is pretty reluctant to travel too far every day... I want to look around everywhere though.

We normally do the same as banks for mortgage % around 30-35% of your income

Ah okay, thank you. For some reason I thought it was about 25% but that seemed too little.

[FearlessLeader]

Would DF go west? West Footscray/Maidstone/Braybrook was where we were originally looking, and i love it around there. Near the river, near Highpoint, lots of buses, fairly close to the beach (closer than the north anyway!), there's even quite a few cute little cafes and shops around. A swimming pool, some indoor playcentres, Footscray Primary has a Steiner stream.

My DP took a bit of convincing because he has a pretty old school idea of what the "west" is like, but i won him over... then we didn't move there after all

But seriously, you don't need to move all the way out to Point Cook to get a 3 bed for around $300pw. You won't get a new place, but you can get a gorgeous old bungalow with 3 beds and a huge yard.

http://www.domain.com.au/Search/rent...ray&displmap=0