How do I know how much rent I can afford?

Claire_lou

Pretty simple question but am going to be renting a property. Anyone have any idea how I can find out what rent I can afford? IE - what will the checks do? I don’t have any debts but don’t have an extremely high salary. I know what I think I can afford but is there any kind of way to work out what checks will assume I can afford?

Comms69

Typical calculation is annual salary =/> 30x the monthly rent.

Claire_lou

So if persay, rent was £600, min salary would be around £18k?

Comms69

Claire_lou wrote: »

So if persay, rent was £600, min salary would be around £18k?

Correct, it's not ironclad, but it's a rough idea.

00ec25

Claire_lou wrote: »

Pretty simple question but am going to be renting a property. Anyone have any idea how I can find out what rent I can afford? IE - what will the checks do? I don’t have any debts but don’t have an extremely high salary. I know what I think I can afford but is there any kind of way to work out what checks will assume I can afford?

the checks will be whatever the LL or their agent do - there is no standard

Claire_lou wrote: »

So if persay, rent was £600, min salary would be around £18k?

so 18k annual salary leaves you with £1,293 per month post tax

spend 50% of that on rent as you suggest and can you LIVE on £600 per month?
- council tax will be ?
- utility bills in the property will be?
- car annual costs + repairs will be ?
- petrol / public transport travel to work will be ?
- food will be ?
- phone contract will be ?
- BB and/or TV licence will be ?
- having fun will be ?

£600 per month is do able provided you live accordingly

Claire_lou

Thanks all for the replies. Hopefully it should be pretty plain sailing to get something sorted