haladadon:
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.

na wa oo
This is plain selfishness

marshborn:
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.

can you manage it alongside other expenses?

k

sylvez:


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

Don't do it, you'll regret it.

Clarathomp:


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. Because 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.

Wise words! Where are you from?

haladadon:
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.

Holy Moses��

If your rent is more than 30% of your earnings then it is too much. I am a realtor and that's a professional advise.

Too high and unsustainable. 25% on a non income generating expense is stagnation at best. Long term targets are unlikely to be met. If 25% goes to rent alone, what will transport, medicare, insurance, home management take all assuming you have deducted taxes and other statutory obligations. Can't see you having more than 25% left to move forward - investment and personal development. Fee on where to rest your head is too much.

I earn 100k in port Harcourt here.. We are 3 in number that collect apartment.. Annual spend 35k for rent.. To me as far as you are not married yet.. U don't need to spend too much on rent. If you want 2 have sex look for a guest house

shouldn't exceed 30% of your annual income. at the same time, it is unwise to move very far away from your work place for lower rent, just to end up spending more on transport coupled with the stress

jydebiz:
If your rent is more than 30% of your earnings then it is too much. I am a realtor and that's a professional advise.

Exactly. I will personally cap rent at 10% and even that must be because there is a strategic advantage living there that will half that rate within 3 years.

haladadon:
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.

Dumbest comment I have seen in a long while,.. Squat with your uncle for the rest of your life,. You are not even ashamed to come here and say you squat with your uncle,..

God no go let me dash up to 3 months of my annual salary give landlord. God forbid.
If I earn just 100k per month, I will stay in self-contain abeg.

Many of you enjoy life so much you find it easy to throw away what you should save for rainy days. What will you tell your kids in future if you can't meet their needs because you wasted money during your youth?

I saved 73% of what I earn for the past 5 years I plan to make more money next year and save 90% of what I earn for the next 10 years after I expand my hustle.

To save money sweet die, once I look my account balance, hunger go disappear and my belle go dey sweet me.

My role model is Warren Buffet, a billionaire who 's been living and working in the same building for over 50 years. Just imagine all the millions he must have saved on transportation over 5 decades.

pol23:
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.

Tru talk

Reference:


Exactly. I will personally cap rent at 10% and even that must be because there is a strategic advantage living there that will half that rate within 3 years.

10% easy say than done.
This is Lagos.

marshborn:
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.

I really like your question, a very practical one.
I'd read up for answers as well

haladadon:
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.

Bros, u funny ooo. The beyyer u face reality now, the better. Being independent makes u grow and develop faster. My saying sha

Generally, your rent shouldn’t exceed 30% of your annual income. Anything over 30% is too much.

haladadon:
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.

no be your fault, Na your uncle gave the chance to perform non sense in his house.

Anything above 100k is too much

Op; don't mind those quoting figures and all that gibberish. A lot of people consider the rent but don't consider proximity of the accomodation to your work place. Tell will tell you to go get an apartment of 200 or 250k in iyana-ipaja forgetting the stress and cost of transporting yourself to and fro your work place. I as a person would not sacrifice my comfort for anything even if it means paying through my nose. If you like the apartment and you don't have to spend hours in traffic getting to workplace then its fine. It is cheaper at the long run.

I earn ×3 of what you earn and I still live with my parents. If you can get a roomie or squat with a relative and save for the first few years.

haladadon:
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.

Real talk

haladadon:
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.

I see insecurity and fear in this post. The same responsibility you're avoiding today will eventually catch up with you.

Squatting with someone will make you not to have your own personal properties.

I live here on the Island, Agungi to be precise. I pay 300k for a Boys Quarter apartment. Very nice, neat and conducive environment. You can look for something similar around here in as much you work on the island. Anyways I don’t the distance between Yaba to the Island but I’m sure you’ll have to face traffic when going home.

marshborn:

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.

I used to be like him.bi was making minimum of 900k a month but had zero saving due to different women.

Now I earn less ( had to mellow due to health issues ) but I have achieved far more than when I was earning more almost 2x.

Women are a must have in a man's life. They are annoying but no man can really do well without them.

Three years now and I have zero regrets so far ( well apart from not having different shag bags ).

haladadon:
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.

Squatting is a bad experience except if your uncles house is spacious.
First off, you will be disorganised.

You cant bring in your properties even the most important ones because its not your place.


You can't receive visitors.

You can't cook your meals which saves you money in the lonh run and makes you healthier.


Many things you can't do.

The only snag is that you may tend to be beinging girls if you are alone but lack discipline.


Squatting is bad. Tufiakwa

ufotty2001:
I earn 100k in port Harcourt here.. We are 3 in number that collect apartment.. Annual spend 35k for rent.. To me as far as you are not married yet.. U don't need to spend too much on rent. If you want 2 have sex look for a guest house

You be guyman bawo!!! Hahahahahahahahahahaha, na just wetin I dey reason for the guy since. Hahahaha

if your 2 months salary can not completely take care of your rent, then it's too much dear

funny enough in reality its not seen dat way i earn less dan 70k a month married with 3 kids my husband does bussiness (electronics) my rent in Festac is 400k kids termly fees 124k and den der is feeding, electricity, transport, clothing, travel and other expenses. but they r all met timely. My kids are well infact over fed they have every gadget they need to be happy.
Infact typing this just made me realise dat God has been sustaining i and my Family and i give him the praise. So its not about the mathematics in it becos all dos calculations can fail u its about ur standing with God. phil.4 - 19.
Am not making the money but am living the life through the grace of the Almighty God.
And i still SAVE.
NOTE
I have never spent more than 2000 for treatment and hospital for my kids. From January till date i and my family have never been to d hospital.
ITS ALL GOD THE GREAT PROVIDER AND PROTECTOR

ogawisdom:
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

But the landlord has worked for him for a year!