Proportion of income on rent/mortgage - and which would you choose?

[No.5]

Apparently 33% is optimal. Our rent is about 20%.

Honestly if it's going to be the same amount anyway, I'd buy. At least then you can get some equity and perhaps in another 5-10 years move closer to your preferred area ITMS. Though in saying that, not sure a bank would lend you a mortgage if it was 50% of your income..

[Floweryfields]

50% is definitely too high. Apparantly it's recommended not to exceed 35%. If you are paying out half of both your wages, you put yourself in a financially sticky situation if one of you became unemployed. I wouldn't do it and like previously mentioned, banks would most likely not loan on those figures.

I would always buy over renting, renting is just making someone else secure! My opinion of buying is you start at the bottom with a basic home that will increase in value, then you sell that to get up to the next level until you get what you want eventually. Not everyone is happy to do it that way though, but it does pay off in the long run. My first home was very cheap and with some work, quadrupled it's value. I am about to use it to buy something else as an investment.....