I relocated to another state where I have no relation/friend that I can stay with. Now, I have been looking for an accommodation but the result is been futile.

Though I hv seen some houses that are relatively cheap, but they are notthing to write home about.
Finally, I got a one room apartment in a good area though am sharing the utilities with a nebor. The problem now is that the rent is exactly my two months salary.

So am just wondering if its really economically wise to rent such a house without having to feel the economic impact later on.

You will feel it later but you don't have to worry as nothing is permanent!
The first step of the matter you have already done! Getting a tenancy agreement.
Now you should work to aim at moving into your own home!

Presidiot buhari see wetin u dom cause for this guy... Useless man.

How muich is ur salary, cause I don't understand how u need 2 months salary to pay just for a room were u share the toilet?

U just have to put a lot of other factors into consideration.
Are you married and if yes does your wife have a source of income?
Apart from your salary, do u have other means by which u make little money?
How many persons are dependent on you?

I can assure you that if u manage well, u sure can live well and comfortable too.

malele:
How muich is ur salary, cause I don't understand how u need 2 months salary to pay just for a room were u share the toilet?

The apartment is like a two bed room flat, so am picking one room and I still hv access to d parlor, though I hv nothing to do with it since I don't hv properties yet. The rent is 150 but I will hv change from my salary wch I will still use to pay for bills like phcn, water and others related to the house.

collinsoft:
U just have to put a lot of other factors into consideration.
Are you married and if yes does your wife have a source of income?
Apart from your salary, do u have other means by which u make little money?
How many persons are dependent on you?

I can assure you that if u manage well, u sure can live well and comfortable too.

Married, nope. No other income, but myt hv once d exchange rate stalizes. I have junior once, but my seniors got it covered. Though that doesn't mean that I won't contribute to the family.

AltarBoy1:
I relocated to another state where I have no relation/friend that I can stay with. Now, I have been looking for an accommodation but the result is been futile.

Though I hv seen some houses that are relatively cheap, but they are notthing to write home about.
Finally, I got a one room apartment in a good area though am sharing the utilities with a nebor. The problem now is that the rent is exactly my two months salary.

So am just wondering if its really economically wise to rent such a house without having to feel the economic impact later on.

Number 1, we don't know how much is d rent,

Number 2, we don't know how much is your salary.

Number 3, we don't know if u pay per month or per annum.


Clarify these and I will give u a good answer.


Nevertheless.

If u earn 30k per month and your rent is 60k per annum, it is very much ok.

A one room apartment in which u share the utilities can not be above 120k, but if u pay such amount for less, then, u are economically unwise.

If ur rent is 400k/month and u earn 200k per month, it is still on the good side.


Considerably, u have all your 10months salary all to yourself. So, it is still economically wise, considering the fact that house rent is a need and kinda determines if we can continue working or not, 1st thing 1st, shelter is paramount.



Elucidate us properly and your questions can be answered.


As far as I know, u asked no question @ all.

@Op, your house rent is worth only 2 months of your salary ? May be you should consider moving to an apartment that will cost only half of your monthly income. As for me, my rent is a little bit above my income for 2 months

AltarBoy1:
The apartment is like a two bed room flat, so am picking one room and I still hv access to d parlor, though I hv nothing to do with it since I don't hv properties yet. The rent is 150 but I will hv change from my salary wch I will still use to pay for bills like phcn, water and others related to the house.

If ur rent is per anum, bros, it is economically wise

chigoizie7:




Number 1, we don't know how much is d rent,

Number 2, we don't know how much is your salary.

Number 3, we don't know if u pay per month or per annum.


Clarify these and I will give u a good answer.


Nevertheless.

If u earn 30k per month and your rent is 60k per annum, it is very much ok.

A one room apartment in which u share the utilities can not be above 120k, but if u pay such amount for less, then, u are economically unwise.

If ur rent is 400k/month and u earn 200k per month, it is still on the good side.


Considerably, u have all your 10months salary all to yourself. So, it is still economically wise, considering the fact that house rent is a need and kinda determines if we can continue working or not, 1st thing 1st, shelter is paramount.



Elucidate us properly and your questions can be answered.


As far as I know, u asked no question @ all.

like I mentioned earlier, rent is 150 and judging from the location and the building, its worth it. Salary is just below 90k with some overtime allowance whenever we stay beyong closing, though its negligible for now. The left over is what I plan to use in d payment of utilities. And yes, the rent is per annum.

OP..... I think you have made a little error. Little because you can still make corrections. My advice, move out after your rent expires and move into a place where at least a month will suffice. It'll enable you make plans for the future when you start small.

I totally understand your situation bro cos I was there once. Where the problem lies is even after you've paid the rent what of the properties you'd need to start life with.

You just might end up spending around 3-4 months salary just to get settled in. But that's if you'd need to buy properties at once.

Otherwise try cut down expenses as much as you can for now

AltarBoy1:
like I mentioned earlier, rent is 150 and judging from the location and the building, its worth it. Salary is just below 90k with some overtime allowance whenever we stay beyong closing, though its negligible for now. The left over is what I plan to use in d payment of utilities. And yes, the rent is per annum.

Since the location of the house is ok by you and d rent also ok for the apartment, den what's the fuss about?


Let's assume u earn 80k multiplied by 12months, it will give u 960k and if u subtract 150k from 960k, u will have a balance of 810k, bros, it is economically wise.

150k is like 15% of your salary if we go by the 80k/month assumptions, so, bros, it is economically wise.




Everything doesn't have to be free u know?

If the house has all d necessary basic amenities u require & d rent is at close range with other apartments u have checked out, I suggest u pay by installment b4 d due date. I believe it's acceptable. It helps u save money & plan ahead... My thought

Yes, It is more tHan OK. You need at least a yr to balance/Settle down in a new location. In as much as you are happy with the quality of the service and location, which is good for your state of mind. By the time a yr is gone you will realise that the amount you are paying is OK.

For example assume you pay 4 months salary for this year and the next. 3 months for furnishings and all other conviniences. 2 months for feeding. 3 months savings. You have the whole of 10 month salary for the following yr less feeding allowance. It means you are still far OK.

Do not use more than 2yrs in a shared apartment. You may not like the experience afterwards. Listen to the words of the wise, dear. I am speaking from experience.

Goodluck.

weezii:
I totally understand your situation bro cos I was there once. Where the problem lies is even after you've paid the rent what of the properties you'd need to start life with.

You just might end up spending around 3-4 months salary just to get settled in. But that's if you'd need to buy properties at once.

Otherwise try cut down expenses as much as you can for now

For now, I dont think I need properties even in d next two years... Just d basics like kitchen utensils and mayb small fridge.

AltarBoy1:
For now, I dont think I need properties even in d next two years... Just d basics like kitchen utensils and mayb small fridge.

Then you're good to go man.

Success in all your endeavors plus growth in your place of employment

weezii:

Then you're good to go man.

Success in all your endeavors plus growth in your place of employment

Thanks a lot. Really appreciate.

Iykopee:
Presidiot buhari see wetin u dom cause for this guy... Useless man.

Another Biafra lunatic on the loose.

Ephemmm:


Another Biafra lunatic on the loose.

Must everything be Biafra...