This rent affordability calculator will allow you to gauge what the rent expenditure levels are for your annual income level. The ratings of ‘conservative’, ‘safe’, ‘standard’ and ‘aggressive’ peg your weekly gross income to the amount that is to be spent on rent. The higher the amount spend on rent naturally the higher the risk in term of saving ability, emergency expenses, etc.
For help getting approved for a home loan we recommend Stewart & Lord – Registered Financial Advisers. To contact Stewart & Lord please click here.
Total annual income before tax
Suggested weekly rent
Estimated weekly utilities (usually 20% of rent)
Maximum housing expense (rent + utilities)
Savings target to move out (4 weeks rent)
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