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View Poll Results: How much of your net monthly salary do you spend on housing?
<5% 5 2.30%
<10% 7 3.23%
<15% 18 8.29%
<20% 51 23.50%
<25% 53 24.42%
<30% 38 17.51%
<35% 22 10.14%
>35% 23 10.60%
Voters: 217. You may not vote on this poll

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  #1  
Old 14.03.2009, 18:59
Isambard Mews
 
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How much of your salary do you spend on housing?

Just wanted to take a poll. I found a place but wondered whether I'm paying too much of my salary for just housing?
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  #2  
Old 14.03.2009, 19:10
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Re: How much of your salary do you spend on housing?

I believe the 'guideline' is that you should not spend more than 25-30% of your net salary on housing. Regardless of how high your salary is...
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Old 14.03.2009, 19:29
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Re: How much of your salary do you spend on housing?

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Just wanted to take a poll. I found a place but wondered whether I'm paying too much of my salary for just housing?
Huh? It's you who decides how much is too much.
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  #4  
Old 14.03.2009, 19:42
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Re: How much of your salary do you spend on housing?

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Huh? It's you who decides how much is too much.
Well, too much as in way higher than average.

I'm looking at 1/4 to 1/3 of salary on rent + nk. Which seemed like a lot to come out of your pay, but from poll so far, it seems to be normal.
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  #5  
Old 14.03.2009, 20:12
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Re: How much of your salary do you spend on housing?

In the U.S., for what it's worth, homeowners in 2006 were spending 21% of their incomes on housing costs, defined as mortgage, taxes, insurance, and utilities (check: www.msnbc.msn.com/id/15107993).

The www.betterbudgeting.com site says that for an apartment, "It's generally accepted that 30-35% is about right for housing expenses" (again for the U.S.).

The Washington Post (2006) says "Many financial planners and housing experts advise people to spend no more than 30 percent of their gross income on rent. That doesn't count utilities."
http://www.washingtonpost.com/wp-dyn...051900643.html

Hope this helps!

J.
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Old 14.03.2009, 20:17
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Re: How much of your salary do you spend on housing?

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Huh? It's you who decides how much is too much.
be sure not to lose sight of pension commitments, savings, and entertainment (travel, holidays, meals out). if you spend more than 25% on housing, something will suffer & it will catch up with you one day.

personally i think 30% is too high. living in a sh1thole is fine if you get out each weekend.
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  #7  
Old 15.03.2009, 02:18
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Re: How much of your salary do you spend on housing?

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be sure not to lose sight of pension commitments, savings, and entertainment (travel, holidays, meals out). if you spend more than 25% on housing, something will suffer & it will catch up with you one day.

personally i think 30% is too high. living in a sh1thole is fine if you get out each weekend.
that's kinda what i was thinking.

i'm torn between an "OK" place and a "wow" place. difference is 600CHFs a month which, to me, is a lot of money.

my head tells me to go for the cheaper place and spend the money on food, enjoying myself etc. but the wife tells me "you're getting the big house and that's final"
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  #8  
Old 15.03.2009, 02:19
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Re: How much of your salary do you spend on housing?

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I believe the 'guideline' is that you should not spend more than 25-30% of your net salary on housing. Regardless of how high your salary is...

in fact, the higher your salary, the less as a percentage you should spend!
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  #9  
Old 15.03.2009, 04:34
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Re: How much of your salary do you spend on housing?

Not spending much (less than 15%) on housing, but this has downsides too : long commutes which are tiring, consume time and do also cost (gas or train). However the idea of moving closer to work and increasing housing costs isn't really attractive to me in these bad economy times.
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Old 15.03.2009, 05:18
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Re: How much of your salary do you spend on housing?

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my head tells me to go for the cheaper place and spend the money on food, enjoying myself etc. but the wife tells me "you're getting the big house and that's final"
Wife may not understand 600 bucks but explain it in terms of a few things that she likes and it may give her a better idea..tell her that you may have to skip going out this weekend to make up for the hike in rent or ask her to stick to that migros budget section to save a little and she will get a feel of what it means. It's not like playing a trick or anything but I feel that some people, including me, don't understand the numbers as much but they do understand "things". That may also explain that why 720ft long warship doesn't sound as impressive as a warship twice the size of a football field.
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  #11  
Old 15.03.2009, 07:48
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Re: How much of your salary do you spend on housing?

Your wife was pretty clear.
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  #12  
Old 15.03.2009, 19:15
Isambard Mews
 
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Re: How much of your salary do you spend on housing?

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increasing housing costs isn't really attractive to me in these bad economy times.

yeah. this is one of my thoughts too. several people in my old job were made redundant, economy looks bad and i'm starting a new job (so may not be so secure). all of which makes me want to play it safe and save up a bit for a rainy day.

the wife is quite a bit younger and has never lived through a recession. she got a job straight out of uni and since things currently seem fine, i can't really get the message through that things are looking bad and we should be more careful with money even if we're not directly affected (yet).
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Old 15.03.2009, 19:26
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Re: How much of your salary do you spend on housing?

Long ago a relocation agent advised me that the house rental in Switzerland shouldn't exceed c.a. 25%-30% of your monthly salary otherwise you pay too much. I think it is more less within avarage range of the statistical poll above.
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  #14  
Old 17.03.2009, 15:39
Isambard Mews
 
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Re: How much of your salary do you spend on housing?

Well decision was made for us: lot's of people applied and somebody else got it.

While my wallet is glad, I feel bad because the wife is absolutely gutted. She'd already started to make plans as to what to put in each room etc.

Worse, thing is we've got to start from scratch again. It's such a frustrating process...
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Old 17.03.2009, 17:51
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Re: How much of your salary do you spend on housing?

Sorry/glad to hear you missed out on the chosen house!

The percentage is only a very rough and ready figure, and it depends very much on the amount of money remaining. If you spend 50% of your income on housing and you only bring home 4,000 CHFs, it would be a struggle to do anything else other than survive on the remainder. If, however, you're spending 50% of a monthly take home of 15,000 CHFs, then you're still having a very nice life. And living in a mansion!

I ticked the box for 'more than 35%', although I always plan expenditure against the take home for a regular month, and consider the 13th paycheck and any bonuses as 'oooh, surprise!' money. Including those would bring the rental a lot more in line with others mentioned here.

Good luck for finding a place that works for both of you.

kodokan
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Old 17.03.2009, 18:13
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Re: How much of your salary do you spend on housing?

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that's kinda what i was thinking.

i'm torn between an "OK" place and a "wow" place. difference is 600CHFs a month which, to me, is a lot of money.

my head tells me to go for the cheaper place and spend the money on food, enjoying myself etc. but the wife tells me "you're getting the big house and that's final"
Tell the wife not to speak unless you give her permission Mr Mews. Show her who wears the trousers. Get as small a house as possible and spend the rest on going to the pub and football matches.

Be the man.
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Old 17.03.2009, 18:16
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Re: How much of your salary do you spend on housing?

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Tell the wife not to speak unless you give her permission Mr Mews. Show her who wears the trousers. Get as small a house as possible and spend the rest on going to the pub and football matches.

Be the man.
You're a divorce lawyer aren't you?
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Old 18.03.2009, 12:49
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Re: How much of your salary do you spend on housing?

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Tell the wife not to speak unless you give her permission Mr Mews. Show her who wears the trousers. Get as small a house as possible and spend the rest on going to the pub and football matches.

Be the man.
Mike, look at you trying to be all big... we both know who wears the trousers in our relationship...
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Old 10.05.2009, 22:50
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The real estate administration cares too

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Huh? It's you who decides how much is too much.
I guess it's also the real estate administration (Immobilienverwaltung) or whoever decides on whom to let the apartment, deciding how much is too much. When applying for apartments, they ask for your monthly income on the application form for that reason. I have a few times even seen the question just as such on application forms: what percentage of your monthly income would the rent be?

I have no idea what the Verwaltungen's scale for that is or how much they consider too much. But then, I have little idea how exactly they consider prospective tenants and how all these factors weigh in to the decision. I have the feeling that very often the selected tenant is not chosen just based on the details in the application - they have some connections or do something beyond what's in the book to get it.
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Old 12.05.2009, 21:40
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Re: The real estate administration cares too

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I guess it's also the real estate administration (Immobilienverwaltung) or whoever decides on whom to let the apartment, deciding how much is too much. When applying for apartments, they ask for your monthly income on the application form for that reason. I have a few times even seen the question just as such on application forms: what percentage of your monthly income would the rent be?

I have no idea what the Verwaltungen's scale for that is or how much they consider too much. But then, I have little idea how exactly they consider prospective tenants and how all these factors weigh in to the decision. I have the feeling that very often the selected tenant is not chosen just based on the details in the application - they have some connections or do something beyond what's in the book to get it.
Yes, one form I filled in asked for salary, marital status, occupation, last date of virginity... wtf?
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