View Poll Results: What % of your net household income do you spend on rent?

Voters
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  • Less than 10%

    9 7.63%
  • 10% - 20%

    31 26.27%
  • 20%-30%

    50 42.37%
  • 40%-50%

    8 6.78%
  • Over 50% ???

    6 5.08%
  • 30-40%

    14 11.86%
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% of net income on rent.

  1. #41

    Join Date
    Aug 2010
    Location
    Sweating somewhere in S'pore.
    Posts
    3,776
    Quote Originally Posted by Morrison
    You mean many people are leaving Lantau ?
    Yes. Many people I know are leaving Lantau to move to other countries. Also, I meant yes, our neighbours in SG are leaving also toothed countries to live.
    Morrison likes this.

  2. #42

    Join Date
    Jan 2018
    Posts
    121

    I would pay no more than 20%. Spending over this is going over your means IMHO. One should never neglect other financial commitments as well as building up savings. If rent breaches 20%, sacrifices are inevitable.

    Last edited by DimSumBond; 15-08-2018 at 08:56 PM.

  3. #43

    Join Date
    Oct 2017
    Posts
    298
    Quote Originally Posted by DimSumBond
    If rent breaches 20%, sacrifices are inevitable.
    Sorry, but this is a silly statement. If saving money on cheaper rent means living farther from work/school, then sacrifices are inevitable.

  4. #44

    Join Date
    Jan 2018
    Posts
    121

    You never lose when you are saving money on rent. Commute times are hardly an issue in such a small city here. I think people are becoming too lazy thesedays. Feel free to pay more rent and put off savings, investments, body and mind. You don’t really know what a real sacrifice is until negligence/ poor decisions consequences drops by and says a big hello


  5. #45

    Join Date
    Oct 2017
    Posts
    298
    Quote Originally Posted by DimSumBond
    You never lose when you are saving money on rent. Commute times are hardly an issue in such a small city here. I think people are becoming too lazy thesedays. Feel free to pay more rent and put off savings, investments, body and mind. You don’t really know what a real sacrifice is until negligence/ poor decisions consequences drops by and says a big hello
    Fair enough. You sound like my wife. I value my time... Perhaps I, like many ppl, over-inflate the value of my time.
    Cornmeal likes this.

  6. #46

    Join Date
    Jun 2011
    Posts
    271

    For me my home is important and where I spend a lot of my time.

    Totally depends on salaries obviously, but for a fairly large salary span, say from 50-200k/month it makes sense to me to pay roughly 25-30% of your salary on rent (depending if you include electricity etc in rent). In the lower salary range, just because you have to, to live decently. In the upper end, because you can afford to, so with such a salary why would you be living in poor conditions. The only exception would be if you reached 200k/month and are still single, then I guess its over the top, but usually one has a family when reaching such salaries.

    When/if you reach monthly incomes in the 300k range, one can start to discuss if its worth paying say 75-90k/month on rent. I think most people that earn that much do, but its probably better to save up for a while. Leave HK with a huge pile of cash, or if you are staying, save up to buy.

    I'm currently at the lower end, at about 25% including electricity, internet etc. On the other hand I feel I'm not living very nicely and would consider paying a bit more for better living quality.


  7. #47

    Join Date
    Mar 2018
    Posts
    9

    Well luckily in my case i get a housing allowance that covers my rent so i don't spend anything out of my income on rent. If i would not get an allowance, then maximum i would be willing to spend would be 25%


  8. #48

    Join Date
    Jul 2004
    Posts
    2,318

    It doesn't matter if company puts money in your pocket and you pay it or company directly pays from its pocket, its part of your package so still counts as an expense in your personal account albeit with the benefit of tax deduction.. Anyway, this thread is quite old so i would assume today's median rent should at least touch standard rate of 1/3 of your salary..

    jrkob likes this.

  9. #49

    Join Date
    Aug 2017
    Posts
    142

    I voted 20-30% but then realized I only considered my own income so it's actually 17%. I wouldn't feel comfortable spending more than 25%, no matter the salary. There's only so much I/we need. 3000sqft? That's an entire 3 story village house plus an extra 900sqft! Yikes, what do you do with all that space? Who cleans it (a maid I assume)? What does it cost to cool it?

    As some others have mentioned, @Kowloon Goon, I'm also willing to pay more for a shorter commute, after a hard/long day a short commute is glorious, a long one is just like extra hours of work you're not paid for. That being said I could've lived closer to work and more cheaply (few $1K) but the layout was bad, the bathroom cramped, neighbours on all sides, and no view, it may not be worth it to some but I thoroughly enjoy sitting on my rooftop each morning sipping coffee, with an unobstructed sea & mountain view. I also think this makes it worthwhile living in a less than convenient village.


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