What percentage of your net monthly income goes to housing(Either rent OR mortgage plus taxes)? (Babylon: real estate, health insurance)

[clamboy]

I know every generation struggles to some degree but I dont think our parents were @ 50%.

We were fortunate to get in before the boom and we live modestly ....were at about 35%(half of which is taxes)

If we were to trade up ...we'd be well over 50%.

How are you guys making out?



C

[nbres]

For me, I'd say - under 21% of my gross and about 33% of my net.

[NSHL10]

I wouldn't make the move up C. Even with my mortgage paid, (had a bunch of unexpected bills and a 10% decrease in my business year to date) it is an ongoing struggle.
Unless you are guaranteed a raise every year with no increase in health insurance costs (who in the private sector is?), I wouldn't go with over 50%.

[clamboy]

Originally Posted by fopt65

I wouldn't make the move up C. Even with my mortgage paid, (had a bunch of unexpected bills and a 10% decrease in my business year to date) it is an ongoing struggle.
Unless you are guaranteed a raise every year with no increase in health insurance costs (who in the private sector is?), I wouldn't go with over 50%.

I think youre right...I had hoped to get past a starter home...guess I may wait it out and build as I can.

C

[clamboy]

Originally Posted by nbres

For me, I'd say - under 21% of my gross and about 33% of my net.

Hows the NBab taxes Nbres?

C

[TristansMommy]

Definately at 50% with the mortage, tax and homeowners included in the mortgage. Add utilities and I'm over 50%.. as I think most young families starting out now are.

[nbres]

Hows the NBab taxes Nbres?

North Babylon taxes are much lower than most other places, its one of the reasons I bought here. But my taxes have gone up just like everyone elses over the last few years.

[nancy thereader]

Well, I paid off my mortgage (I'm old that's why) so I would say 4 % for taxes. But, that is how I can make the move when I retire. Just make an almost exact swap in terms of real estate.

[clamboy]

Originally Posted by nancy thereader

Well, I paid off my mortgage (I'm old that's why) so I would say 4 % for taxes. But, that is how I can make the move when I retire. Just make an almost exact swap in terms of real estate.

Thats awesome...good for you.

Enjoy.
C

[TristansMommy]

Originally Posted by nbres

North Babylon taxes are much lower than most other places, its one of the reasons I bought here. But my taxes have gone up just like everyone elses over the last few years.

Oh.. how I envy that..LOL.