# Renting



## brand180208 (Jun 20, 2012)

Hello


Could someone tell me what the norm is for trying to work out how much you can afford to pay in rent each week?
Ie: what's the % generally used

Just we have never rented in our lives but have decided to rent for a couple of years whilst we settle into NZ life

Also how would references work?
As, as mentioned we have never rented so how will we get through this process

Thank you
Rebecca


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## Liam(at)Large (Sep 2, 2012)

Generally speaking, the guidelines are 25% gross for mortgage and 30% gross for rent. That said, I know people who pay 50% or more on rent. We pay slightly more than 30%, but have a nice place on a decent size lot in a very desirable area, 3 mins to lake, 7 mins to beach. That said, given kindy can be walked to, work can be walked to and other local resources, I calculate we actually make up the difference in savings.

I was in the same boat regarding references, going from having flatted casually in the UK to owning in Canada for almost a decade. I showed photos from real estate brochure of the house we sold, my bank account balances and my CV... That did the job. Got the first place we applied for.


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## brand180208 (Jun 20, 2012)

Liam(at)Large said:


> Generally speaking, the guidelines are 25% gross for mortgage and 30% gross for rent. That said, I know people who pay 50% or more on rent. We pay slightly more than 30%, but have a nice place on a decent size lot in a very desirable area, 3 mins to lake, 7 mins to beach. That said, given kindy can be walked to, work can be walked to and other local resources, I calculate we actually make up the difference in savings.
> 
> I was in the same boat regarding references, going from having flatted casually in the UK to owning in Canada for almost a decade. I showed photos from real estate brochure of the house we sold, my bank account balances and my CV... That did the job. Got the first place we applied for.


Thanks for that

Rebecca


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