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how many years can we own a house by our small salary? [Copy link] 中文

Rank: 1

Post time 2008-6-23 16:51:55 |Display all floors
I calculated that it will cost me more than 20 years to buy a house of 100 squre meters in my hometown Zhuzhou city at present level if I can't make more salary.It means a whole life because you have to face thousands of other consuming reasons.

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Rank: 8Rank: 8

Post time 2008-6-23 17:09:55 |Display all floors
Originally posted by superpeasant at 2008-6-23 16:51
I calculated that it will cost me more than 20 years to buy a house of 100 squre meters in my hometown Zhuzhou city at present level if I can't make more salary.It means a whole life because you ha ...


That sounds very good to me. Typical repayment terms in the UK are 25 to 30 years.

I've just done a calculation and concluded that you have too much money.

Borrow 500000 RMB over 20 years and at a rate of 4.75% interest, your monthly repayments are 3231 RMB

Check it out for yourself:

http://www.mortgages-online.co.uk/mortgage_advice/faqs.htm

Loan: 500000  

Term: 20

Rate: 4.75

Then press the ''Calc'' button
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Rank: 4

Post time 2008-6-23 17:27:08 |Display all floors
it's hopless for me to earn enough money to buy a proper house in two years, and it's not a suitable time to get in the housing market. i think  it is stupid to buy house with your salary, life will be ruined if you bacame a house--slavery. think about the past 30 years of china, what about your parents life 30years ago ahd how about now. there will be a lot of chances . for now , buy no more than rent.

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Rank: 8Rank: 8

Post time 2008-6-23 17:58:46 |Display all floors
Originally posted by chrisaaron at 2008-6-23 17:27
it's hopless for me to earn enough money to buy a proper house in two years, and it's not a suitable time to get in the housing market. i think  it is stupid to buy house with your salary, life wil ...


First you need to get some money for a deposit and the expense of setting up a new home. Then you need to get married but not start a family. That way you can combine your incomes.

I do not know what formula a bank would use in China - however, 3 times your combined anual salary will give you a rough estimate as to what a UK bank would think you could afford to borrow and keep up monthly repayments.

For example:

Husband's salary 50000 RMB per year
Wife's salary 24000 RMB per year
Therefore total combined salary is 74000

Multiply by 3 and you can possibly afford to borrow (74000 X 3) = 222000

Cost of  house say 500000 RMB
less                           222000 RMB
Deposit needed     278000 RMB  
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Rank: 6Rank: 6

Post time 2008-6-23 20:18:59 |Display all floors
this society and its housing price never believes your tears, being weepy is useless.

[ Last edited by pegasus01 at 2008-6-23 08:23 PM ]

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Rank: 4

Post time 2008-6-23 20:23:16 |Display all floors
sounds terrible .We pin all our life on the house .we all become the slave of house

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Rank: 6Rank: 6

Post time 2008-6-23 20:25:45 |Display all floors
Originally posted by superpeasant at 2008-6-23 16:51
I calculated that it will cost me more than 20 years to buy a house of 100 squre meters in my hometown Zhuzhou city at present level if I can't make more salary.It means a whole life because you ha ...


congratulation, u are a great men! at least u can afford one house by yourself,
as for me, it is impossible to buy a house even though have to take over 20 years to repay to bank,
because i am working in shanghai, considering me, u are so lucky...

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