How much rent to pay?

clarice_2

We pay 43% of our take home pay + tax credits on rent in Lancashire for a two bed flat (2 adults one kid). there isn't that much around that's that much cheaper, we're just on a lowish income! We have to live somewhere though and at least where we live is nice... a mortgage on the same property would probably be about 90% of our income!

gps_2

our rental will be about 28% of take home pay. i think that all other outgoings, bills etc are where all the money is going for most people these days i.e,

council tax roughly £112 a month
gas and elec 70
petrol 100
all insurances etc 120
phone and moblies 60
food 300 ish
pension etc etc

also supermarkets have really gone up recently!

TediousPhoenix

I live in the middle of Essex and I'm paying 43% of my take home salary for a 1 bedroom flat (£550/month).

If I were to get a house with my boyfriend half of the outgoings would be less than I'm paying on this flat. There's the cost of actually buying it though!

I should have moved into a shared place, but I have all my furniture now, so getting one room somewhere would mean putting things in storage or getting rid of them.

I hate not being able to save any money at all - it all goes on rent/bills and travel to work - over 75% before I buy food. I just feel like I'm treading water. I've been here a year now and rent prices have gone up too. I wouldn't be able to survive with the current rent prices.

It's a really tricky situation for me. My boyfriend and I have enough for a deposit for a place, but I'm still not sure if it's the right time to buy. Yes, I'd like to, but I don't want it to be a heart, not head decision. I year ago I had more savings than he did, but I now feel bad that he has really overtaken me, all because he lives at home (I don't have that choice). But I'm the one paying for this place.

I know renting isn't really "throwing money down the drain", but it's really difficult knowing that at the end of the month I'm still in the same financial position after working really hard at work, paying the bills and paying for the essentials - and those annoying things that pop up each month - and not having any money left to even go out (I hate it when people at work keep telling me to learn to drive - they don't understand that I can't afford to) and have nothing to show for it.

I don't know how long I can keep treading water though...