33k salary, can I afford a mortgage?

bodmil

Thanks screamer, it's nice to see it's possible but I guess it depends on the individual. I can see through my spreadsheets I do save enough on average, but I wondered where I fit with other MSErs.

getmore4less

bodmil wrote: »

Thanks screamer, it's nice to see it's possible but I guess it depends on the individual. I can see through my spreadsheets I do save enough on average, but I wondered where I fit with other MSErs.

Somewhere between bankrupt an multi £M

bodmil

Cheers mate, super useful.

Brallaqueen

I'm on ~18k and I just bought a 75k flat. It's not easy and the interest rates are crippling, but for me it is worth it.

ninky_2

of course you can afford a mortgage.

the question is can you afford a property with that mortgage that you are happy to live in.

what size property are you going to be happy with, and in which areas, and how much are they currently selling for?

bodmil

Well I would change my requirements to fit my affordability. If a repayments are £1000 a month plus bills of £400 then I could manage it, if they are £1500 then I would get a smaller mortgage. £120,000 plus my deposit would get me a decent place in the town I'm looking at. I just have no idea how to estimate everything on top of repayments. Don't suppose there are any calculators like the ones for mortgages but for bills?!

getmore4less

use the SOA calculator.

readup what other peoples bills are
Debtfreewanabee has the most SOAs posted.

When I first bought I asked my parents/friends/work people what sort of bills people have and guestimated.

Check the council tax in you chosen area on-line

bodmil

That's sort of what I'm trying to do here!

Will amass other people's SOAs, but can't possibly make one of my own.

getmore4less

Which bit are you struggling with?

geoffky

Brallaqueen wrote: »

I'm on ~18k and I just bought a 75k flat. It's not easy and the interest rates are crippling, but for me it is worth it.

What the hell are you going to do when they rise and maybe double in the next few years..They are at the lowest ever and can only go one way...rather you than me..