Stats: 3,191,374 members, 7,943,938 topics. Date: Monday, 09 September 2024 at 08:23 AM |
Nairaland Forum / Nairaland / General / Properties / How Much Rent Is Too Much For Someone Who Earns 100k A Month (31920 Views)
Help My Land Lady Give Me 3 Months Quit Notice While My Rent Is Till Running / How Much Rent Can You Afford In Ibadan? / To Let: 2 Bedroom Flat + Study At Ijegun, Lagos. Rent Is 300k Per Annum (2) (3) (4)
(1) (2) (3) (4) (5) (6) (7) (8) (Reply) (Go Down)
Re: How Much Rent Is Too Much For Someone Who Earns 100k A Month by Godson213: 9:47am On Nov 22, 2018 |
b0rn2fuck: Sir, I am contemplating staying in a room self contain and a two bedroom I earn 70k monthly. The two bedroom is 180k annually. Room self con-70k I also want to change my car and commence into taxify when I don’t have a job. Limited resources now. What do you advice. My gf wants me to move into the two bedroom and that will mean I should buy more properties inside the house which I don’t have the resources for all of that. What do you advice 2 Likes 1 Share |
Re: How Much Rent Is Too Much For Someone Who Earns 100k A Month by Bamz(m): 9:50am On Nov 22, 2018 |
haladadon: LoL. Most people do things out of peer pressure tbh. 1 Like |
Re: How Much Rent Is Too Much For Someone Who Earns 100k A Month by samuelonyewueny(m): 9:52am On Nov 22, 2018 |
haladadon:Jesus!!! |
Re: How Much Rent Is Too Much For Someone Who Earns 100k A Month by MrOwonikoko: 9:53am On Nov 22, 2018 |
Even me with half of your income, i have a family already and i rent in a 250k room and parlor flat. So be wise if you call yourself a man and how to manage your income also to know how to budget yourself. Mind you i live in Surulere, Lagos with that my income. If i can survive with that amount and still carter for my family and also still pay house rent, i believe i can survive anywhere in this world. ![]() ![]() So wise up my man! 1 Like |
Re: How Much Rent Is Too Much For Someone Who Earns 100k A Month by Tyche(m): 9:54am On Nov 22, 2018 |
haladadon: You are a smart ass |
Re: How Much Rent Is Too Much For Someone Who Earns 100k A Month by aAK1(m): 9:58am On Nov 22, 2018 |
I don't work for anyone but on the average I make about 100k monthly profit.(some months can be significantly higher but when you leave in Abuja you will know most reasonable self contained buildings will be between 300 and 350k. In situations like this there is nothing you can do. 1 Like |
Re: How Much Rent Is Too Much For Someone Who Earns 100k A Month by Olumeme: 10:02am On Nov 22, 2018 |
cnonyechi: Your husband is stealing money somewhere, stop using the name of God to lie. No Matter how much you pray 50k will not turn to 200k, and 200k will not buy a Toyota Camry 2017 model 10 Likes |
Re: How Much Rent Is Too Much For Someone Who Earns 100k A Month by Olumeme: 10:04am On Nov 22, 2018 |
For me it's not too much for me for a house rent. a side hustle that will give you miee money is encouraged, if you can also get a roommate that will split the bill with you, it's all nice |
Re: How Much Rent Is Too Much For Someone Who Earns 100k A Month by ohizzy(m): 10:06am On Nov 22, 2018 |
I for one have no issues with leaving with someone but you need to have a mindset of getting a place if you have a source of income. We all know it's really not easy getting a place affordable and comfortable especially in Lagos but it still needs to be done regardless.Getting a place of your own shows responsibility,you get to prepare yourself on how to run your home when you eventually decide to start a family. Not to talk to much me sef,I still dey live with my uncle but if you ask me I rather have a place of my own even if it's a room self contain,nothing beats having your personal space. Abeg I dey find house oo my Budget na btw 150 - 200k not to far from VI. Namaste.... 6 Likes |
Re: How Much Rent Is Too Much For Someone Who Earns 100k A Month by FabulousAutos(m): 10:10am On Nov 22, 2018 |
From the moment I decided that I cant stay in an apartment that is higher than my one month rent, things became much easier for me. I'll rather use the money to speed up my building than waste is in rents. Thank God I have an exceptional landlord who compelled me to buy a land and is even forcing me to expedite the project. 4 Likes |
Re: How Much Rent Is Too Much For Someone Who Earns 100k A Month by Biodup: 10:10am On Nov 22, 2018 |
ideally your rent annually should not be more than 10percent of your annual income.maximum 15percent in some special cases when putting some factors into consideration such as proximity to work place, security etc 2 Likes |
Re: How Much Rent Is Too Much For Someone Who Earns 100k A Month by temmy59: 10:12am On Nov 22, 2018 |
Oliver80:This is a very strategic advice; you didn't get value for your money; why spend 25% per annum when you would still face yaba to island stress and transport cost every day. And bro; is the boys quarters, mini flat or a single room; what is yearly service charge. |
Re: How Much Rent Is Too Much For Someone Who Earns 100k A Month by Paentera(m): 10:14am On Nov 22, 2018 |
marshborn: As a rule of thumb in finance, your rent should not exceed 33% of your income. Going by this rule, 33% of N1,200,000 is N396,000 thus your rent is largely within this bracket and in order. 2 Likes 1 Share |
Re: How Much Rent Is Too Much For Someone Who Earns 100k A Month by ohizzy(m): 10:15am On Nov 22, 2018 |
FabulousAutos: Happy for you but some of us still earn less than 80k, so what's your advice for such person ? |
Re: How Much Rent Is Too Much For Someone Who Earns 100k A Month by Nobody: 10:17am On Nov 22, 2018 |
cnonyechi: All God, this sound weird to me, not trying to be rude. But does God send money from heaven down into your apartment? 3 Likes |
Re: How Much Rent Is Too Much For Someone Who Earns 100k A Month by vivaciousvivi(f): 10:18am On Nov 22, 2018 |
marshborn:Hi you didn't state if this was gross or net. By and By, I read a few years ago on an article (written by an American finance analyst), so it wasn't exactly tailored for Nigeria but there were some points I noted. You should never go above 2 months of your monthly gross income on your annual house rent. Never! No matter how secure you think your job is. 5 Likes |
Re: How Much Rent Is Too Much For Someone Who Earns 100k A Month by FabulousAutos(m): 10:18am On Nov 22, 2018 |
Paentera: If I spend 33 percent on rent, l doubt if I'll have enough left to attend to other necessities including children's school fees, entertainment, vehicle etc. 5 Likes |
Re: How Much Rent Is Too Much For Someone Who Earns 100k A Month by TonyeBarcanista(m): 10:20am On Nov 22, 2018 |
Godson213:My Opinion: Stick to the room self-contain apartment. Don't allow anyone push you into making unwise financial decision, not even a so-called GF. Of what use is 2BR apartment to you when you don't have kids yet? Wisdom is profitable! BTW 90% Naija GFs aren't the best people to seek such advice from... 9 Likes 2 Shares |
Re: How Much Rent Is Too Much For Someone Who Earns 100k A Month by TonyeBarcanista(m): 10:27am On Nov 22, 2018 |
haladadon:Thank God for life upgrade. You are a testimony now I don't want to leave my old lifestyle. only my dad knows I have a job. no one else knows.My brother, renting a house is worth it but the kind of house is a factor. An apartment of 80-150k (depending on your location) is fine. As a single guy, you may consider a self-contained apartment so as to give yourself the needed comfort. While I agree that entering relationship is a liability and marriage is overrated, I still believe living alone wouldn't make you feel lonely as there are many ways you can live your life to fullest. It will also afford you the privilege of appreciating life the more. |
Re: How Much Rent Is Too Much For Someone Who Earns 100k A Month by vivaciousvivi(f): 10:28am On Nov 22, 2018 |
IbrahimDamola:Man, you have just made me rethink a lot of things and given me inspiration. Thanks for these wise words. I intend to emulate you bit by bit ![]() 3 Likes 1 Share |
Re: How Much Rent Is Too Much For Someone Who Earns 100k A Month by Mercurypanther(m): 10:36am On Nov 22, 2018 |
Godson213:are this Houses within lagos or outside lagos?. I will advice you stick with the Room self con. And plan to bulid yours 1 Like |
Re: How Much Rent Is Too Much For Someone Who Earns 100k A Month by Rosville(f): 10:41am On Nov 22, 2018 |
madame, Enjoy your house... you have rented it already... I started that way too in yaba and I stiill stay in Yaba and pay about 450k a year but with a better salary now... you would grow.. you started with a good mindset.. just keep on working hard and smart.. you would be fine and save too... marshborn: |
Re: How Much Rent Is Too Much For Someone Who Earns 100k A Month by holysaint1(m): 10:41am On Nov 22, 2018 |
pol23:nice food for thought.... |
Re: How Much Rent Is Too Much For Someone Who Earns 100k A Month by Godson213: 10:42am On Nov 22, 2018 |
TonyeBarcanista: Yes sir they are not the one to seek advice from. Do you remember me from Abule egba when you came to see my gf sister at sweet sensation 2014. Already bought a land which is outside Lagos and want to develop it quickly. Need to cut down cash 1 Like |
Re: How Much Rent Is Too Much For Someone Who Earns 100k A Month by yunnyp(m): 10:43am On Nov 22, 2018 |
kellyo321: Are you saying you paid 46k yearly for your house rent? Please which area did you gt that from? |
Re: How Much Rent Is Too Much For Someone Who Earns 100k A Month by Godson213: 10:43am On Nov 22, 2018 |
Mercurypanther: Outside Lagos sir. Ibadan Will stick to the room con but security wise it’s not adviceable to stay in the room con but security wise it’s okay at the two bedroom. That is my only challenge |
Re: How Much Rent Is Too Much For Someone Who Earns 100k A Month by BanevsJoker(m): 10:46am On Nov 22, 2018 |
Offpoint:Now how da hell you wake up dead? 4 Likes |
Re: How Much Rent Is Too Much For Someone Who Earns 100k A Month by TonyeBarcanista(m): 10:47am On Nov 22, 2018 |
vivaciousvivi:It depends on what you earn, where you work and the kind of apartment. You work in VI, you earn 100k and you think getting an apartment of 300k in Yaba is insane. You decide to buy a plot of land Ikorodu because you don't want to dash your landlord money or you get a "cheaper" apartment of 150-200k in Ikorodu as a "sharp guy". You wake up 4am daily to go to work that you resume 9am in VI just to beat traffic. You spend approximately 3-4hours on the road travelling (that's like Abuja to Kano BTW ![]() You return home 8-9PM daily after spending 2-3hours on the road. You repeat this cycle every Monday to Friday of your life and you expect to live long ![]() You spend approximately #1000 as daily fare (meaning 22k monthly and 244k annually) and you think you are smart. Meanwhile, the man living in Yaba spend approximately #500 as his daily fare (#11k monthly and 122k annually), he wakes up 6am daily and set out to work @6:30-7am, he usually return home 6-6:30PM daily after close of work and has time to do side hustle for 2 hours or enjoy time resting. And you think you are smarter than him abi? You are doing yourself ![]() CAVEAT: This is just an illustration 19 Likes 1 Share |
Re: How Much Rent Is Too Much For Someone Who Earns 100k A Month by yunnyp(m): 10:51am On Nov 22, 2018 |
Godson213: The room self contain is located at where? |
Re: How Much Rent Is Too Much For Someone Who Earns 100k A Month by TBrownAuto(m): 10:51am On Nov 22, 2018 |
absolute true, you are worried about your rent, not worried about service charge, your clothing, entertainment, sbrother sister friend calls for money, your girl friends bills, transport hike, the oga of them all your health that alone can ruin all you ever own pol23: 1 Like |
Re: How Much Rent Is Too Much For Someone Who Earns 100k A Month by TonyeBarcanista(m): 10:55am On Nov 22, 2018 |
Godson213:Hahaha that girl that thought she was wise ![]() Anyway, I hope you don't expect to be living outside Lagos and be working in Lagos? Better you develop the place and place it on rent. please, read my earlier reply to vivaciousvivi. However, if you are self-hustling, it is fine but PLEASE, don't yield ground to your gf for the kind of apartment. |
Re: How Much Rent Is Too Much For Someone Who Earns 100k A Month by Offpoint: 10:57am On Nov 22, 2018 |
BanevsJoker:lol, when we get to that bridge you'll understand better. |
(1) (2) (3) (4) (5) (6) (7) (8) (Reply)
Harrison Gwamnishu Builds House For Parents For Their Support When He Was Jailed / Giving A Quit Notice To A Tenant. / Fence Building Section
(Go Up)
Sections: politics (1) business autos (1) jobs (1) career education (1) romance computers phones travel sports fashion health religion celebs tv-movies music-radio literature webmasters programming techmarket Links: (1) (2) (3) (4) (5) (6) (7) (8) (9) (10) Nairaland - Copyright © 2005 - 2024 Oluwaseun Osewa. All rights reserved. See How To Advertise. 63 |