% of salary on rent

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macaroonie
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% of salary on rent

Post by macaroonie » Tue, 24 Nov 2009 11:35 am

What is a reasonable percentage of one's salary that people find acceptable to pay on rent?

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sundaymorningstaple
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Post by sundaymorningstaple » Tue, 24 Nov 2009 12:03 pm

I've heard the figure of 30% bandied about for years. Seems here 35-40% is more normal though but all know that the cost of rentals are higher in land scarce Singapore than in other countries (although NYC is just as expensive in the city proper).

I pay almost 50% but that's mortgage payments on a very short term mortgage of 14 years.
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revhappy
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Post by revhappy » Tue, 24 Nov 2009 3:51 pm

I pay 25% of my post tax take home as rent for my 2+1 HDB in Tampines.

I feel the pinch and am contemplating to buy a house instead. If I get a PR early next year I may well buy a resale HDB, hopefully prices fall by then!

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Post by Pepijn » Tue, 24 Nov 2009 4:22 pm

I tend not to think in % of salary, but what I am willing to part with. Of course this requires an insight in cost of living apart from rent, cost of utilities and how much you want to save up.

If you would be happy to life on $1500, save up another $1500 and have a salary of $15000, I take it you can rent considerably more up class. If an elaborate lifestyle is what you want, and saving up for a sabbatical or considerable down payment on property, I would advise looking in the lower ends.

It's a matter of priorities, and what you have on a monthly basis.

flutterbye
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Post by flutterbye » Sun, 29 Nov 2009 11:36 pm

Is shared housing available in Singapore, the same as you get professional house shares in the UK NOT student diggs!

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carteki
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Post by carteki » Wed, 02 Dec 2009 2:22 pm

Shared housing is available. The expats classifieds is a good place to look as are the house share websites (just search for them - I shouldn't name them here).

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