% of pay check towards rent?

Question

I will soon be moving to Louisville KY for a new job. It is a sales position that pays $45,000 + incentives, company truck, car insurance, gas, high speed internet, cell phone, land line...and all expenses on overnight travel.

My question is whether or not it is responsible to pay $1000/mo rent on a 2BR Loft on this pay. I know that I can afford it, Im just not sure how responsible it would really be. I am single but would like an office at home since I will pretty much be a road warrior. I would like to stay organized, but I could probably find a 2BR place for $800...but not as desirable.

I have a budget where I set it up, so i know it could work. I am justifying spending this much since so many of my other bills are covered.

I just dont want to get home from being on the road and hate the place Im living in.

Thanks for any tips or opinions...especially from road warriors.

Im pretty much set on a 2BR .. I like to stay organized and I dont want my work stuff in my living area. So a 1 BR wont work.

Its pretty much between a 1000 place more desirable or 800...less desirable and more driving to get places

Answer 1

Always try to make at least 3 times the amount of rent a month. This will make sure your good and that's what most PM companys use.

Answer 2

Your after tax take home will be like about $2800 so you could afford it ,
But since you'll be gone so much , why not get a 1 bedroom in a place you like ?
Save the extra $$$$ for a down payment ( which should be 20% or else you'll get taken to the cleaners on the % rate and the PMI )

I recommend 1 bdrm in desirabe location .

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