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Nairaland Forum / Nairaland / General / Properties / How Much Rent Is Too Much For Someone Who Earns 100k A Month (31918 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)
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Re: How Much Rent Is Too Much For Someone Who Earns 100k A Month by Godson213: 10:59am On Nov 22, 2018 |
TonyeBarcanista: Yes sir |
Re: How Much Rent Is Too Much For Someone Who Earns 100k A Month by Mercurypanther(m): 11:01am On Nov 22, 2018 |
Godson213:security can only be assuranced by God. Even those at duplex still get killed or have security issues. Look out for a gated apartment and if possible area with Night guards |
Re: How Much Rent Is Too Much For Someone Who Earns 100k A Month by Godson213: 11:06am On Nov 22, 2018 |
Mercurypanther: You are right sir... The place is gated, and fenced but not barb wired. I will rent it and save more to develop my property. *hugs* 1 Like |
Re: How Much Rent Is Too Much For Someone Who Earns 100k A Month by vivaciousvivi(f): 11:14am On Nov 22, 2018 |
TonyeBarcanista:First of all, I take offence to your last statement. And no where did I state I was smarter than anyone...as a matter of fact, I gave the credit to whom I read it from and I do think it isnt dumb. Case in point, my first job was in VI and I lived in my first rental in Unity Estate Egbeda. I thought things would ease up after I bought my first car back in 07. It didnt, I just ended up waking earlier and getting tireder since now I had to drive home. The cycle was killing me. My rent was N70k and it was a BQ. So I had to move to 'lere where my rent was N250k for a one bedroom apartment (own bath, living room, bedroom, kitchen). Cut my commute more than half and made me happier. But the rent was killing me until I got a better paying job in 2010. By then, my surulere rent had also increased from N250k to N300k till it ended at N315k (before I moved out). It all begins and ends with the income at the end of the day. Cheers Tonye 8 Likes 1 Share |
Re: How Much Rent Is Too Much For Someone Who Earns 100k A Month by Scholar01: 11:16am On Nov 22, 2018 |
dotun365:Dotun Somebody? |
Re: How Much Rent Is Too Much For Someone Who Earns 100k A Month by TonyeBarcanista(m): 11:17am On Nov 22, 2018 |
vivaciousvivi:No pls, don't personalise it... it was mere illustration na. I know you are a smarty na, no be Vivi again? Meanwhile, you made a nice decision to move out of the 315k apartment, seriously, I would even move when it was increased to 300k. Income matters truly but please, don't stay faàaaaar in the name of cutting cost. It isn't worth it. Don't take every word literal pls... You know say you be my love na |
Re: How Much Rent Is Too Much For Someone Who Earns 100k A Month by snowblaq(f): 11:22am On Nov 22, 2018 |
marshborn: I think it's fair enough.. ...remove 25k every month from your salary and save it for rent... At the end of a year you'll have your 300k.. ...try and save and manage the rest of the 75k per month 2 Likes |
Re: How Much Rent Is Too Much For Someone Who Earns 100k A Month by ogawisdom(m): 11:54am On Nov 22, 2018 |
Budex40: get lost already, I am entitled to my opinion too |
Re: How Much Rent Is Too Much For Someone Who Earns 100k A Month by ogawisdom(m): 11:55am On Nov 22, 2018 |
DJInfluence: that's why he needs to get sense and grow up |
Re: How Much Rent Is Too Much For Someone Who Earns 100k A Month by Tattooboy: 11:57am On Nov 22, 2018 |
Clarathomp:Adam disobeyed his Maker when Eve came into his life. Abeg let the post be in good terms with God. |
Re: How Much Rent Is Too Much For Someone Who Earns 100k A Month by Nobody: 12:02pm On Nov 22, 2018 |
300k PA is too high. I earn 90k monthly, and my friend, 75k. We wanted to co-rent a better apartment and we were charged 300k for a miniflat in Ojodu. We pick race 440 ![]() Bills are crazy in Lagos, and most come unexpected. I no go save? I no go buy send mama money? I no go invest? Abi I no go settle down. |
Re: How Much Rent Is Too Much For Someone Who Earns 100k A Month by blackjack21(m): 12:04pm On Nov 22, 2018 |
haladadon: Warren Buffet in the making. ![]() ![]() ![]() ![]() ![]() 2 Likes 1 Share |
Re: How Much Rent Is Too Much For Someone Who Earns 100k A Month by Oluwalifted: 12:27pm On Nov 22, 2018 |
If you have to believe God for a miracle to pay your rent, that apartment is bigger than you. 2 Likes |
Re: How Much Rent Is Too Much For Someone Who Earns 100k A Month by IbrahimDamola: 12:30pm On Nov 22, 2018 |
Buffalowings3: Na so na... ![]() You never try am before? Fat account balance dey cure instant hunger. Just try am. Once hunger grip you just go your sms history glance your 5 million naira account balance, hunger go pick race and you go be like... 3 Likes 2 Shares
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Re: How Much Rent Is Too Much For Someone Who Earns 100k A Month by Ayobami7(m): 12:32pm On Nov 22, 2018 |
This is my Comment |
Re: How Much Rent Is Too Much For Someone Who Earns 100k A Month by haladadon: 12:39pm On Nov 22, 2018 |
Manufor: I hope you realize that I used to sleep at the market, squatting don't mean anything to me. it's better than sleeping in the streets. sleeping in the streets, once you close your eyes, they'll remove your palms or sandals or steal from you. 1 Like |
Re: How Much Rent Is Too Much For Someone Who Earns 100k A Month by Obeenah(m): 12:42pm On Nov 22, 2018 |
From my experience studying Mortgage finance. A 20% allocation of annual earnings for housing is advised hence N1.2M per annum = N240k allocated for housing. However using the case of Nigeria. If you got water and other basic amenities in the house for that 300k it is ok. Just don't go beyond this. Also I would suggest you open a mutual fund account and make monthly payments equivalent to your house rent. Within 12 months you will have your rent + small interest earned. 4 Likes |
Re: How Much Rent Is Too Much For Someone Who Earns 100k A Month by tambiri77: 1:10pm On Nov 22, 2018 |
As for me 300k is on high side compare to your monthly income. Kindly look for a room self-contained around Old Apapa road Costain at 150 to 200k.Am very sure you can still get. |
Re: How Much Rent Is Too Much For Someone Who Earns 100k A Month by Nobody: 1:10pm On Nov 22, 2018 |
chloride6:You just took the words out of my mouth. Guys here just dey shout not more than one or two months salary as if say nah Dem one determine price for Landlord. The earlier we face up to the realities of life in a city such as Lagos the better for everyone. Person wey no wan pay for comfort will definitely pay the stress of discomfort. At the end of day, life is a trade off, you can't have your cake and still eat it. In Yaba, for instance, you can count yourself lucky if you get a comfortable miniflat for 300k, rates can even go as far as 300-500k in certain areas. Naira does not command much value, so it's imperative to pursue it in good volumes to stay ahead of inflation, but you must enjoy your life as you try to do so because there are no guarantees after all said and done. 4 Likes |
Re: How Much Rent Is Too Much For Someone Who Earns 100k A Month by Isiterere(m): 1:23pm On Nov 22, 2018 |
cnonyechi: So when expenses show up ,you will just call on God and it will disappear? Just because your husband is shouldering every expenses does not mean your 70k is sustaining you. Be practical pls . 1 Like |
Re: How Much Rent Is Too Much For Someone Who Earns 100k A Month by Isiterere(m): 1:34pm On Nov 22, 2018 |
jesmond3945:How will you spend more than your income , or how can you give what you don't have ? This is not making sense . |
Re: How Much Rent Is Too Much For Someone Who Earns 100k A Month by bjhandz: 2:33pm On Nov 22, 2018 |
O boi is better you apply wisdom that apartments is much ooo. |
Re: How Much Rent Is Too Much For Someone Who Earns 100k A Month by ewizard1: 3:44pm On Nov 22, 2018 |
MossLuv:100k for accommodation? in Lagos? 3 Likes |
Re: How Much Rent Is Too Much For Someone Who Earns 100k A Month by Olumyyde(m): 3:51pm On Nov 22, 2018 |
I strongly believe location matters in this, I stay in kaduna n earn about 140k plus and my house rent is 150k p/a. That's about 9.8 to 10% of my annual income. It is a spacious 2bedroom flat. location matters because I really doubt if u can get such in a place like Lagos, Abuja or Port Harcourt. 4 Likes |
Re: How Much Rent Is Too Much For Someone Who Earns 100k A Month by Paentera(m): 3:58pm On Nov 22, 2018 |
FabulousAutos: I think you misread my comment. The premise is that you do not EXCEED 33%...this is how banks determine if the income of an individual is adequate to cover monthly mortgage payments. |
Re: How Much Rent Is Too Much For Someone Who Earns 100k A Month by Skyfornia(m): 4:04pm On Nov 22, 2018 |
sylvez: Check my signature for my digits |
Re: How Much Rent Is Too Much For Someone Who Earns 100k A Month by oscaruzie(m): 4:16pm On Nov 22, 2018 |
marshborn:congrats bro. i think it's ok. I'm also searching for an apartment around that axis. is it a 2bedroom or 3?kindly help a brother out pls? |
Re: How Much Rent Is Too Much For Someone Who Earns 100k A Month by oscaruzie(m): 4:20pm On Nov 22, 2018 |
Obeenah:bros can you explain more about this mutual fund account? 1 Like |
Re: How Much Rent Is Too Much For Someone Who Earns 100k A Month by Nobody: 4:34pm On Nov 22, 2018 |
PrinceBBlack: TRUE TALK |
Re: How Much Rent Is Too Much For Someone Who Earns 100k A Month by Nobody: 4:47pm On Nov 22, 2018 |
cnonyechi: I thought this is a guy. madam, the guy is referring to guys that work and pay the rent. You can tell us how much ur husband earns and how he does cope with all. You are telling us u earn less than 70k, and stay in 400k apaprtment with 124k sch feesfor three kids each. Na wa oo. |
Re: How Much Rent Is Too Much For Someone Who Earns 100k A Month by jesmond3945: 4:59pm On Nov 22, 2018 |
Isiterere:didnt you see where i wrote i feed mouths both in naija and here in abroad? It would not make sense to anybody but only God's grace is carrying me through. |
Re: How Much Rent Is Too Much For Someone Who Earns 100k A Month by Acidosis(m): 5:10pm On Nov 22, 2018 |
IbrahimDamola: @bold, If you can't eat your own money, you would still find it very difficult to spend on your children. The same line of thought would make you consider a cheap public school over an expensive private school. 1 Like |
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