50k a year nets about 3200 EUR a month here in Estonia. Assuming no other loans when you take on the mortgage, one of the local banks says that’s good for a limit of 266k. Gets you in a 300k home if you manage to put together 45k for a 15% down payment and you’ll pay under 50% of your net income as a mortgage at current euribor rates or even with a mild increase. That’s the upper limit, but it gets you in a nice house in or near the capital. Half of that sum still gets you a pretty nice apartment in most places, except for city center of any of the bigger cities, and you can either have a much shorter loan or a much smaller payment. Living accommodations for a single person are actually pretty cheap here for professionals who have been in their careers for a few years. I did say 300k gets you a house, but that’s in the most expensive city, and not a small one. For your average person in their 20s, a 400-500€ a month rental apartment is big enough and in good enough shape usually.
Low-income job in a major city though? Good freaking luck :/ Grocery store wages in the capital are like 1000 take-home and that’s actually more than minimum wage, which is even less.
I’m not sure what the average was, something something EU something. I don’t recall whether it was a specific country or an index of some sort.
But yeah I’d be fine with 50k. Idk if I’d be “have a house and a nice car” fine, necessarily, but yeah.
50k a year nets about 3200 EUR a month here in Estonia. Assuming no other loans when you take on the mortgage, one of the local banks says that’s good for a limit of 266k. Gets you in a 300k home if you manage to put together 45k for a 15% down payment and you’ll pay under 50% of your net income as a mortgage at current euribor rates or even with a mild increase. That’s the upper limit, but it gets you in a nice house in or near the capital. Half of that sum still gets you a pretty nice apartment in most places, except for city center of any of the bigger cities, and you can either have a much shorter loan or a much smaller payment. Living accommodations for a single person are actually pretty cheap here for professionals who have been in their careers for a few years. I did say 300k gets you a house, but that’s in the most expensive city, and not a small one. For your average person in their 20s, a 400-500€ a month rental apartment is big enough and in good enough shape usually.
Low-income job in a major city though? Good freaking luck :/ Grocery store wages in the capital are like 1000 take-home and that’s actually more than minimum wage, which is even less.