Posted on: 09th Apr, 2013 08:55 pm
We are planning to move to our own apartment or a rental home. But we do not make much money at present. Both of us jointly make $1500 a month and also have a baby to support. My question is... how much rent could we afford?
Hi Guest,
Well, it is always advised that you should utilize up to 30% of your gross monthly income in order to pay off the rent. Depending upon your income, the 30% will be somewhere around 350-400. You may not get a good rental apartment for such a small sum. You will have to increase your income in order to rent a property.
Thanks
Well, it is always advised that you should utilize up to 30% of your gross monthly income in order to pay off the rent. Depending upon your income, the 30% will be somewhere around 350-400. You may not get a good rental apartment for such a small sum. You will have to increase your income in order to rent a property.
Thanks
Yes, both of you can work part time to increase your income and pay for your rents.