Please I need sincere inputs. Those leaving with someone, please don't derail this thread. Just read an learn.

I'm planning on relocating to new area in Abuja but I'm really confused if 20% of salary is too much to pay for rent.

Where I currently stay lacks some amenities and I pay 10% of my salary for rent.

What percentage of your salary goes to rent? How much do you think should be the ideal percentage of salary for rent??

I think the right percentage would allow for proper saving to allow one build his or her own apartment.

Thank you for your responses.

I live in my own personal house with my family. The only thing I spend on is minor repairs and here and there.

I believe you shouldn’t use more than 2 months salary to pay rent.

Invest in a land as cheap as possible even if it is in a rural area. You can lease it to someone to farm on if you are not financially buoyant to start building.

You also don’t have to wait till you have millions to build, start a little project such as a 2 bedroom, you will never regret it

I pay 100% of my one month salary for a year rent, I can't kill myself with responsibilities.
I read it somewhere from a financial consultant that a year rent should not pass your 2 months salaries.

Pussykills:
Please I need sincere inputs. Those leaving with someone, please don't derail this thread. Just read an learn.

I'm planning on relocating to new area in Abuja but I'm really confused if 20% of salary is too much to pay for rent.

Where I currently stay lacks some amenities and I pay 10% of my salary for rent.

What percentage of your salary goes to rent? How much do you think should be the ideal percentage of salary for rent??

I think the right percentage would allow for proper saving to allow one build his or her own apartment.

Thank you for your responses.

cc RoyalRoy please I need more opinions. Move to fp please.

[20% - 50%) of your salary is not bad to afford some luxuries. [50% - 100%) of your salary is risky. More than 100% of your salary could be catastrophic.

Diligent1:
100% of my one month salary for a year rent, I can't kill myself with responsibilities.
I read it somewhere from a financial consultant that a year rent should not pass your 2 months salaries.

Is that consultant a Nigerian? Two months salary equals rent could be devastating, particularly if you add, feeding, transport, service charges at home, wifey is a full time housewife, Buhari or Tinubu is president, Elemiewele is still CBN governor and there are tons of side chicks contending for the small change wey you get.

Wanted to ask why u needed side chicks..

Only to realize I have too.. 🤫

efficiencie:


Is that consultant a Nigerian? Two months salary equals rent could be devastating, particularly if you add, feeding, transport, service charges at home, wifey is a full time housewife, Buhari or Tinubu is president, Elemiewele is still CBN governor and there are tons of side chicks contending for the small change wey you get.

Get a house your Housing Allowance can pay , that there is what one can afford.
If you secure another with a bigger housing allowance, good enough

Your one month or one and half salary is enough...

No go do pass yourself

I use income from income to pay my house rent.

That is, the profit I make from my business is what i invest further to pay my house rent.

That is about 30%

The best to enjoy your life is if your one month salary can pay a year rent, if that is not achievable, don't let it exceed 2 months salary. You can't be earning 150k and be paying 600k a year, you'll hardly enjoy yourself.

How many times una wan ask this question? Something a simple Google search can answer. Multiple threads that made front page have created on this same topic but one stupid mod still decided to push this to FP. All of una for this forum they mad....Don't go and plan on how to start building your own house you hear? Idiot. Dey ask percent of your salary wey you go pay as rent, rubbish man. Na your mate dey build mansions for festac up and down and Marry young women like us at an early age. You still dey pay rent, nonsense. Stupid men like you are the reason a lot of beautiful young woman like us are not married yet.

I already bought my own house.

I wan sell am jakpa final from Nigeria,make I just dey observe

If you cut your coat to ur size at least ur 1month or 2month salary should be enuff...

My one month salary is even above my house rent

Zero naira. I live in my father's house

You can convert your sienna into bed and sleep inside it with doors locked.
Sienna way big pass some people living room.

In USA people sleep and live inside their cars for months and save up money.

If your car is tinted, even better for you
At night after every every,
you just collapse the seats and turn it into bed and sleep inside with doors locked. For the single ones it's much easier.
Save up your salary till it's enough to buy house

Pussykills:
Please I need sincere inputs. Those leaving with someone, please don't derail this thread. Just read an learn.

I'm planning on relocating to new area in Abuja but I'm really confused if 20% of salary is too much to pay for rent.

Where I currently stay lacks some amenities and I pay 10% of my salary for rent.

What percentage of your salary goes to rent? How much do you think should be the ideal percentage of salary for rent??

I think the right percentage would allow for proper saving to allow one build his or her own apartment.

Thank you for your responses.

more like 50% here

Lol....

I cut my coat according to my size though ...

3 Months

20% of ur annual salary is fair enough
But u will adjust in some other area

My 7 months salary

Ten years ago when I got a job I was suppose to start off in Lagos but I begged to go to delta state

I was paying 120k as rent yearly and earning nearly 200k a month.

For me any more than 10% is going to affect the propensity to save and make progress in life.

You may end up slaving for your landlord.

kuse2:
Wanted to ask why u needed side chicks..

Only to realize I have too.. 🤫

side chicks are invietable these days,if ypu don't want them they must want you,it is becoming almost an impossibility to aviod these daughters of eve

3 months salary.

17%

Monthly?

Hmmm...14.5%

Bro where do you work? Is it a government work or a private own

Obavoh:
I live in my own personal house with my family. The only thing I spend on is minor repairs and here and there.

I believe you shouldn’t use more than 2 months salary to pay rent.

Invest in a land as cheap as possible even if it is in a rural area. You can lease it to someone to farm on if you are not financially buoyant to start building.

You also don’t have to wait till you have millions to build, start a little project such as a 2 bedroom, you will never regret it

For civil servants staying and working in urban center like Abuja, PH, Lagos etc it’s almost not feasible. In Kubwa, a decent 1 bedroom is approximately 600-1.5mk per annum and the area may have poor road network or water supply issue or even power supply issue.