We have been house hunting for a while and have found a house we love.
The mortgage will be 50% of my husbands wage.
We have been doing this in our town house for the last 4 years,he has recently had a pay increase.
We both earn good money and work hard.
What portion is your mortgage of your wage or your partners wage?
I'm excites about the possibility of this amazing house but want to make sure we aren't over committing.
+ Reply to Thread
Results 1 to 10 of 28
15-01-2012 13:14 #1Senior Member
- Join Date
- Oct 2010
Mortgage-what portion of your wage?
15-01-2012 13:38 #2
Is that 50% of just your husbands wage, or 50% of your total income? How much % is it of your total household income?
15-01-2012 13:48 #3
our mortgage is about 30% of out joint income (give or take)
15-01-2012 13:59 #4
just under 1/3 of DH's wage. I don't work, so that's of our total income. 'They' recommend that it should be no more than 30% of your total household income.
The Following User Says Thank You to MrsBeee For This Useful Post:
15-01-2012 14:17 #5
Our mortgage is 1/8 of our household income - we don't have a huge mortgage though as we had a massive deposit when we purchased.
But in saying that we've also relocated to a mining town, and pay rent where we are until we can buy. Rent is expensive here, and rent is 1/5 of our household income.
So combine the two together we spend approximately 1/3 of our household income on mortgage/rent. Our rent is far more than our mortgage, and the house we own is not yet rented. Be lots easier once it is!
15-01-2012 14:21 #6
Our mortgage it 75% of dh's wage but is less than 30% of our total household income.
15-01-2012 14:24 #7Senior Member
- Join Date
- Nov 2011
15-01-2012 14:27 #8
40% of our total income. And it's a tiny three bed cottage. Sigh.
15-01-2012 14:33 #9
Last edited by JaneDoe; 12-03-2012 at 07:20.
15-01-2012 14:45 #10
Oh I have discussed with DH about buying a beachfront unit an selling the house we own - but nope he's not budging!!! Lol I'll get him one day on it be nice to go somewhere we own for holidays :-P
By MissEm in forum Family FinancesReplies: 3Last Post: 18-08-2012, 20:57
By Mama of 1 in forum General Parenting Tips, Advice & ChatReplies: 5Last Post: 19-07-2012, 13:25
By Buttoneska in forum General ChatReplies: 16Last Post: 24-01-2012, 19:35
TPS Health Physiotherapy and PilatesTPS Health Physiotherapy and Pilates has three clinics located at Morningside, Redlands and Lutwyche. We offer pre and ...
LATESTToilet training: when is the best time to start?Why it is OK for your child to be differentWhat is a blessing way? How is it different to a baby shower?
POPULARWhen can I start giving chores to my children?New baby nursery checklist – a guide to newborn essentialsWhat to pack for labour and hospital – a checklist
FORUMS - chatting now ...