(Closed) Homeowners! What percentage of your income (net) are your home expenses?

posted 5 years ago in Home
Post # 3
3265 posts
Sugar bee
  • Wedding: February 2014

@SoCalLove:  Mortgage is 24%, but that goes up to 28% when we factor in our HOA fees.

Post # 5
3265 posts
Sugar bee
  • Wedding: February 2014

@SoCalLove:  Yes, tax and insurance are escrowed.

Post # 6
10453 posts
Sugar Beekeeper
  • Wedding: February 2014

16% for us. We had about 50% downpayment so our mortgage is quite low. 

Post # 7
9181 posts
Buzzing Beekeeper
  • Wedding: August 2013 - Rocky Mountains USA

Including bills and everything?  Or just the mortgage/property tax?

Our mortgage is approximately ~12% of our net income.  We don’t make a ton of money but we do have a fairly inexpensive little house.  I’d be a little wary of spending a third of our income on our mortgage, so I can see where your husband is coming from.  Then again, we’re in a “save save save!!!!!!” mindset.

ETA: Also, my husband was still in school finishing up his second degree when we bought the house, so our financing was based on my income alone.  We wanted something we could easily afford on one income, just to be safe while he wasn’t working and to be able to build up savings when he did get a job.

Post # 9
157 posts
Blushing bee
  • Wedding: June 2012

Ours is about 23%, including insurance and taxes. 

Post # 10
327 posts
Helper bee
  • Wedding: June 2014 - Excalibur

 Only my name is on the house and only I pay the mortgage. 30%  of my take home pay.

Post # 11
1170 posts
Bumble bee
  • Wedding: September 2014

@SoCalLove:  Mortgage, ins, taxes, all that is ~23% of ours. We budget for ~30% for everything house related. Electricity, utilities, internet, cable, plus some for unexpected expenses.

ETA: These percentages are based off our net take home pay.

Post # 12
11747 posts
Sugar Beekeeper
  • Wedding: November 1999

@SoCalLove:  About 25% for us based on salaries alone. Darling Husband is in sales so depending on commission it is typically a lot less.

Post # 13
640 posts
Busy bee
  • Wedding: December 2012

Less than 20%. It’s extremely reasonable.

Post # 14
2522 posts
Sugar bee
  • Wedding: November 2013

You might also ask how many years they have on their mortgages.  Most people, today, get 30 year fixed but I’d be more impressed if people have 15 year fixed and their payments are still around 25% of their income.  Just a few thoughts…

Post # 15
6699 posts
Bee Keeper
  • Wedding: September 2011 - Baby boy 12/2015

@SoCalLove:  Ours is very high since we are both students and work part time. Mortgage is about 40% of our income.


Post # 16
14657 posts
Honey Beekeeper
  • Wedding: June 2011

31% of our take home pay.

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