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Nairaland Forum / Nairaland / General / Properties / How Much Rent Is Too Much For Someone Who Earns 100k A Month (31920 Views)
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How Much Rent Is Too Much For Someone Who Earns 100k A Month by marshborn(m): 4:26pm On Nov 18, 2018 |
Good evening nairalanders, I earn 100k a month which amounts to 1.2 million per annum. I just secured an apartment in yaba which cost 300k per year. I chose yaba because of its proximity to the island which is where i work. I want to know if the rent costs too much for someone of my status. Am I about to start living above my means? Advice needed. 20 Likes 1 Share |
Re: How Much Rent Is Too Much For Someone Who Earns 100k A Month by SUNNINO(m): 4:28pm On Nov 18, 2018 |
Good, but hope you can sustain it and how secure is the job. 5 Likes |
Re: How Much Rent Is Too Much For Someone Who Earns 100k A Month by AroOkigbo(m): 4:32pm On Nov 18, 2018 |
Your annual rent should not be more than your 2 months salary. So you are already on the high side. Again, the 3 months may still fly when you consider living near your place of work. 132 Likes 3 Shares |
Re: How Much Rent Is Too Much For Someone Who Earns 100k A Month by marshborn(m): 4:41pm On Nov 18, 2018 |
SUNNINO:My job is very secure and I am even looking to receive better offers by next year 17 Likes 1 Share |
Re: How Much Rent Is Too Much For Someone Who Earns 100k A Month by marshborn(m): 4:41pm On Nov 18, 2018 |
AroOkigbo:Thanks 3 Likes 1 Share |
Re: How Much Rent Is Too Much For Someone Who Earns 100k A Month by marshborn(m): 4:53pm On Nov 18, 2018 |
Would really appreciate more opinions pls |
Re: How Much Rent Is Too Much For Someone Who Earns 100k A Month by Tony142: 5:31pm On Nov 18, 2018 |
200k or 250k is better 13 Likes |
Re: How Much Rent Is Too Much For Someone Who Earns 100k A Month by marshborn(m): 5:50pm On Nov 18, 2018 |
Tony142:Thanks bro 1 Like |
Re: How Much Rent Is Too Much For Someone Who Earns 100k A Month by haladadon: 8:08pm On Nov 18, 2018 |
I earn 194K and I don't even have a house, I squat with my uncle. I'm afraid of even spending the money. I used to sleep on the streets before with street kids. now I don't want to leave my old lifestyle. only my dad knows I have a job. no one else knows. renting a house is not worth it, you'll soon get lonely looking for who to marry and all that stuff. 142 Likes 5 Shares |
Re: How Much Rent Is Too Much For Someone Who Earns 100k A Month by kellyo321(m): 9:09pm On Nov 18, 2018 |
i earn 30,000 and psy 46,000 pay month which is less than two months salary. go for less than two months salary 9 Likes |
Re: How Much Rent Is Too Much For Someone Who Earns 100k A Month by marshborn(m): 9:10pm On Nov 18, 2018 |
haladadon:I don't understand this comment o..is getting married now a sin...i hope to do so very soon, as soon as God will bless me with something bigger...if this is your idea of saving money abeg i no do. 115 Likes 4 Shares |
Re: How Much Rent Is Too Much For Someone Who Earns 100k A Month by marshborn(m): 9:13pm On Nov 18, 2018 |
kellyo321:Thanks bro |
Re: How Much Rent Is Too Much For Someone Who Earns 100k A Month by sylvez(m): 1:18pm On Nov 20, 2018 |
marshborn: Op, please I also need a house around that Yaba axis, but I can't afford that 300k for now. Since you are yet to marry, can we share the space and share the bills. I just started working and I earn 80k per month. 08104701708 54 Likes 1 Share |
Re: How Much Rent Is Too Much For Someone Who Earns 100k A Month by ogawisdom(m): 1:37pm On Nov 20, 2018 |
It's too much, u will work 3 months for your landlord u self think am. Maximum should have been 200k esp if u are single 26 Likes |
Re: How Much Rent Is Too Much For Someone Who Earns 100k A Month by ogawisdom(m): 1:42pm On Nov 20, 2018 |
haladadon: How old are you? U need to grow up fast and shoulder your responsibilities esp shelter 110 Likes 2 Shares |
Re: How Much Rent Is Too Much For Someone Who Earns 100k A Month by dotun365: 3:35pm On Nov 20, 2018 |
No amount is too much for rent. Comfort can never be too expensive. I don't know what kind of apartment you are staying in for 300k in yaba to give any advise. But you should be mindful of the fact that Nigeria is a rough place and anything can happen at anytime so you want to build a good buffer in savings and investment and that could mean cutting down on comfort now. 57 Likes 4 Shares |
Re: How Much Rent Is Too Much For Someone Who Earns 100k A Month by Nobody: 5:27pm On Nov 20, 2018 |
haladadon: You had me LOL at this. There's nothing wrong with marrying for companionship, in fact companionship is the major reason Eve was created for Adam. The story says and God saw that the man was lonely so he caused a deep sleep.........you get the drift sha. I'm sorry to hear about your time on the street but I'm glad to hear those days are over too. 40 Likes |
Re: How Much Rent Is Too Much For Someone Who Earns 100k A Month by Nobody: 5:36pm On Nov 20, 2018 |
marshborn: Most of us don't make a lot of money to be able to afford accommodations within our means. What I mean is this - we earn about 100 to 150k, but good accommodation in Lagos is expensive so what do we do? We stretch ourselves to make things happen for the good but expensive accommodation. I'm sure if you see accommodation for 150k, you yourself will walk away because you won't like it. Save 20 or 30k from your salary each month towards your next rent and if your office has benefits like leave allowance, car loans, 13th month etc, you can easily make the rent, when you are legible for those benefits. Success with making the rent each time it is due, also boils down to discipline oh! 38 Likes 5 Shares |
Re: How Much Rent Is Too Much For Someone Who Earns 100k A Month by Compliant(m): 5:55pm On Nov 20, 2018 |
Your yearly rent should not exceed your 2months salary and anything above that is a no no Thanks 22 Likes 1 Share |
Re: How Much Rent Is Too Much For Someone Who Earns 100k A Month by marshborn(m): 8:22pm On Nov 20, 2018 |
Clarathomp:Thanks |
Re: How Much Rent Is Too Much For Someone Who Earns 100k A Month by marshborn(m): 8:28pm On Nov 20, 2018 |
dotun365:It's a mini flat..quite comfortable sha. Thanks for the advice bro 1 Like |
Re: How Much Rent Is Too Much For Someone Who Earns 100k A Month by marshborn(m): 8:29pm On Nov 20, 2018 |
Compliant:Thanks |
Re: How Much Rent Is Too Much For Someone Who Earns 100k A Month by Watman2: 7:18am On Nov 22, 2018 |
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Re: How Much Rent Is Too Much For Someone Who Earns 100k A Month by Offpoint: 7:18am On Nov 22, 2018 |
My opinion doesn't matter, whatever I said you'll end up with your personal decision. 300k for rent is not much since you can afford it. you worked for your money enjoy it while you can... we might wake up dead one morning, tomorrow is never promised. 21 Likes 1 Share |
Re: How Much Rent Is Too Much For Someone Who Earns 100k A Month by Nobody: 7:19am On Nov 22, 2018 |
Accommodation is a basic need once you can afford one. What is the configuration of your apartment ? It's okay if you can live on 600k and save 300k per year? 2 Likes |
Re: How Much Rent Is Too Much For Someone Who Earns 100k A Month by Alzirida(f): 7:20am On Nov 22, 2018 |
Anything above 300k |
Re: How Much Rent Is Too Much For Someone Who Earns 100k A Month by Riversides2003(m): 7:20am On Nov 22, 2018 |
AroOkigbo: Not for everybody. |
Re: How Much Rent Is Too Much For Someone Who Earns 100k A Month by pol23: 7:20am On Nov 22, 2018 |
Rent in lagos ehn.. What the OP didn't factor... Electricity will cost you -1k monthly... Generator-7k Waste disposal-500 Security-3k Maintenance-2k All the new houses in Lagos were built with substandard material... Where I currently live (for 2 years now) It's on the island,so anything metal here will spoil in months... I've changed the Tanks and the raillings. Change Nepa Pole. Contribute money for roads. Change every toilet fittings. Different sockets Door handles. Power surge. It's just countless.... OP...just open your eyes...this our lagos life is mere scam and trap. 64 Likes 2 Shares |
Re: How Much Rent Is Too Much For Someone Who Earns 100k A Month by Offpoint: 7:21am On Nov 22, 2018 |
marshborn:Your job is very secure? are you the one that own the company? over confident is disastrous. 41 Likes 1 Share |
Re: How Much Rent Is Too Much For Someone Who Earns 100k A Month by b0rn2fuck(m): 7:22am On Nov 22, 2018 |
I knew someone who earn and was building his own place while staying with uncle, he now own a place in ikorodu within the space of 3 years . its a case of either working for your landlord or building your dreams at early stage, if you still have no wife, best time to think 19 Likes 1 Share |
Re: How Much Rent Is Too Much For Someone Who Earns 100k A Month by Vega100: 7:22am On Nov 22, 2018 |
marshborn: ![]() ![]() ![]() ![]() 4 Likes |
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