Can't say Yes/No

Depends on other factors such as
1. Cost of transportation to work
2. Cost of feeding
3. Amount of support/help u might be giving to other members of ur family
4. Level of financial discipline (very very important)
Etc.

If transport is say N200 daily it means end up spending less than N5k on TP monthly.
Feeding may be about N20k depending
Utility .....
Etc

So u work it out n see if you can save up to N35-40k.

Advise u also search for better job opportunities while on this

Salah

80k (which i'm assuming OP is your net) multiplied by 12 is 960k. I believe ones monthly net income is best divided into four being:

Saving/Investment
Accomodation
Living costs
Leisure

200k is in and around 20/25% of 960k so I personally feel it's wise. You don't want to skimp on rent as it can end up costing more than you bargained for.

Goodplace:
If Someone is in a work of 80k per month can he afford a place of 200k with no side income yet?

If you are married with kids, I will not mind you getting n apartment for that figure but to be honest with u it might not be easy for you to be paying with that salary. If you are single, I advise you to look for more cheaper accommodation.

SoNature:


I don't think it is okay, especially if you live in Lagos.

Look for a house of maximum 100k.

If someone tells u that your 3 months' salaries will pay your rent, it simply means that the person hasn't worked before.

The reason is that no man can save all his salary, unless you steal from your company.

You may pay the rent the first time because you saved up for it, but subsequent occasions will not be funny.

Remember you will feed, tithe, send money home, transport to work, and booze

A word, for the wise, is enough

Please remove the TITHE rubbish from those legitimate expenses. Who TITHE help? Did the op even tell you he is a Christian? Person earning barely 80k will be stupid enough to give 8k to a con artist called Pastor in the name of Religion. You people that keep paying tithe ain't even different from those who don't believe in the damn tithe. So what is the use of that scam. Why not give that 8k to your parents who trained you through school monthly or to your siblings or people around your neighborhood who desperately need it. That to me is more logical and rewarding than giving a Randy Pastor who will most likely use your money to buy fancy cars, private jets and even tempt your girlfriend and wives to sleep with them. Ask that scum fom Coza, he is still preparing a robust reply.

Come on europe, your one month rent is half of your one month salary

BabaIbo:
Some peeps here don't stay in Lagos, you will know from their response

You dey mind them.

OP, if you want a comfortable life, #200k is not too much for rent. However, the first thing you should consider is the proximity to your workplace. So you can trade off your transport expenses in favor of your rent.

Closeness to place of work means you leave home later than most people, get home earlier than most people (all other things being equal), have time to think about other ways you can improve your finances, reduce stress (hence, better health and state of mind).

shege45:
plan truth. I just dey laff 100k House. Dat one na agent and agreement fee

I am telling you... 100k?

maybe them wan make the op share flat or make he enter inside Epe, ibeju, magbon etc go rent house

If the job is sure for three years

I can see that most people that commented here are very economical. How could one say that paying house rent of 200k is too much for one that earns 80k monthly? If you live in somewhere like Enugu city, u will understand what I mean.

OgogoroFreak:
People actually tithe for real?

Don't mind the idiot.

He wrote tithe and booze in the same sentence. Most of them are clowns.

Yes, it's advisable

Florblu:
For people saying his rent shouldn't exceed an 100k, can you please show me where to rent a comfortable room for 100k in LAGOS. If you mention Ipaja, Ayobo, Mowe, Ibafo, etc I will stone you because he will end up spending his money on transport fare and even drugs to maintain his health.

When people ask for questions, let's be realistic. Op can rent a room of 200k as long as he is ready to safe heavily. He will need to cut out lots of irrelevant expenses and double his effort in getting a better job or at least start s side hustle.

Are you minding them? Where in Lagos will you get a decent apartment for #100K per annum if not in areas you listed there. And when you factor in transportation to even come out of those areas, it turns out to penny wise pound foolish with addition of stress and risk.

Many that bought that mentality and relocated to those areas when working on the island had to relocate back when the suffering was too much. There's no rule to all these things, we only pray for God's increase as we smartly diversify as we work very hard.

Benekruku:


3 months salary to cover rent. And you see nothing wrong with that. Will he transport, Save up to get a car and still have contingency savings.

Its does not fly that way.

No. Car is a VEEEEEEEERRRRRRYYYYY BIG avoidable LIABILITY. U don't know that maintaining a car can cost up to 20k monthly. Fuel nko, officers wahala nko. Except he'll use it for Uber. Except that, car is a big liability. U won't save anything, it's purely luxury.
That 200K is fair. Don't go n follow advice from people that their best food is beans and corn

fireback:

Any one year rent that cost more than my two month salary is not worth it... Presently my one year rent is less than my salary in one month. All you need do is save up to half you monthly salary for a year especially if you're still single, use it to buy land, no matter how small the land is and start building your own house. If you re buying a land in a developed place, the land might be smaller but if you're buying from a developing area, you might get a bigger space. All depends on the area you want. Am not just talking but speaking from experience.

Words of wisdom but what if the place is far from his work place?

ugo4u:
The rules are simple.
1) Never spend more than 10% of your income on house rent.
2) Save atleast 10% of your salary.
3) The remaining percentage can be used at your discretion.
4) Rule 1 and 2 are extremely important.

10% of monthly salary or annual. If its on monthly, bros na under bridge be that o

You can afford it if and only if you don't drink and womanize

Goodplace:
If Someone is in a work of 80k per month can he afford a place of 200k with no side income yet?

It's good only if the person steals.

It's totally wrong to pay more than one month salary for a hard worker. Unless the house is a walking distance from the office. Then transport fare may have been saved by renting a expensive apartment for the salary.

tiwiex:


It really depends on cost of transport. The 100k apartment might be so far from work that you could easily consume the saved 100k on transportation and head ache. Safety can also be an issue. I think two month or even three is fine. We Nigerians love to suffer and end up suffering more when we over calculate these imaginary savings on rent. Pay it and move on. The higher your rent, the more expoaed your neighbours. You could be running away from access to better job opportunities. We bottle ourselves a lot an live uncomfortably in perperuity. No guts, no glory.

Interesting perspective

fireback:

Any one year rent that cost more than my two month salary is not worth it... Presently my one year rent is less than my salary in one month. All you need do is save up to half you monthly salary for a year especially if you're still single, use it to buy land, no matter how small the land is and start building your own house. If you re buying a land in a developed place, the land might be smaller but if you're buying from a developing area, you might get a bigger space. All depends on the area you want. Am not just talking but speaking from experience.

Bros, it's possible your 1 month Salary might be 250k and your rent is 240k which is higher than the 200k for this guy's rent.
At Op, pls consider the closeness of the house to your working place and the cost of cheaper houses away from your working place adding other logistics like transportation, inconveniences etc.
Finally, you will get the answer.

Bluehill1051:
No. Car is a VEEEEEEEERRRRRRYYYYY BIG avoidable LIABILITY. U don't know that maintaining a car can cost up to 20k monthly. Fuel nko, officers wahala nko. Except he'll use it for Uber. Except that, car is a big liability. U won't save anything, it's purely luxury.
That 200K is fair. Don't go n follow advice from people that their best food is beans and corn

So he would be transporting all his life and wont save up for a car or landed property

Am sure he has family members looking up to him and a girl friend he did will attend to once a while

He would have a social life too you know. He got a wardrobe too


Bro, 200k from 80k salary is absolutely wrong.

He is biting more than he can chew.

Gentlewarrior1:

Haba bros

One month salary bigger than your 1year rent

Hmm. U dey mean o. And you have a smart move but have it in mind that sometimes getting a personal house might be a liability. Its always an asset no doubt but without the right setup and money e fit no favour u o.

I am saying this because i know someone who suffered himself did this same method just like you just because he was fantasicing a getting a beautiful house. He went through all that stress and got the house.

2 years later unfortunately lost his job and and had to sell that house.

@princeking2
Sometimes rent is not such a bad thing. No be must to be landlord attimes. Having cash and a steady source of income is the shit. So that even when you finally get a house you have nothing to worry about

what if he didn't have a house to sell after he lost his job because he was spending all his money on rent? however u look at it the guy u quoted gave a very sound advise but it requires a lot of discipline to follow.

There is no certain rule to house rent, there are lot of criteria to it. Proximity to your place of work, the nature of your job, and level of desire comfort of the person. I wish i can type more but i don late for Sunday school. cheers.

Benekruku:



So he would be transporting all his life and wont save up for a car or landed property

Am sure he has family members looking up to him and a girl friend he did will attend to once a while

He would have a social life too you know. He got a wardrobe too


Bro, 200k from 80k salary is absolutely wrong.

He is biting more than he can chew.

Landed properties, VEEEEEERRRRRYYYY IMPORTANT. But car, I can bet my life, there's nothing to save there unless the car is for business. Cars are luxury. Here in Lagos o. 200k house, I won't be surprised it's a self con sef

The best is to use not more than 3 months salary to pay for yearly rent but based on benefits in an expensive house such as proximity to workplace , security of area, good schools in area for kids, consistent electricity and water supply, good friendly neighbours, respect of privacy one can still manage expensive house while one work towards getting a better job, business expansion, buying ones plot of land and building it in time or buying a house with loan.

Osyxcel:


You dey mind them.

OP, if you want a comfortable life, #200k is not too much for rent. However, the first thing you should consider is the proximity to your workplace. So you can trade off your transport expenses in favor of your rent.

Closeness to place of work means you leave home later than most people, get home earlier than most people (at other things being equal), have time to think about other ways you can improve your finances, reduce stress (hence, better health and state of mind).

Exactly, that's why you will see some people getting home by 11pm/12 am and waking by 2/3am just to get to work early.
At the end of the day the amount they will add to apartment close to their work will almost equal the cost of transportation and stress. The only time I will advise someone to get accommodation far from work is if you're are working in a very expensive places like ikoyi(banana island), V.I, lekki phase one etc and your pay is the average type

Gentlewarrior1:

Haba bros

One month salary bigger than your 1year rent

Hmm. U dey mean o. And you have a smart move but have it in mind that sometimes getting a personal house might be a liability. Its always an asset no doubt but without the right setup and money e fit no favour u o.

I am saying this because i know someone who suffered himself did this same method just like you just because he was fantasicing a getting a beautiful house. He went through all that stress and got the house.

2 years later unfortunately lost his job and and had to sell that house.

@princeking2
Sometimes rent is not such a bad thing. No be must to be landlord attimes. Having cash and a steady source of income is the shit. So that even when you finally get a house you have nothing to worry about

Many will not understand you sir. Thank you!

Goodplace:
If Someone is in a work of 80k per month can he afford a place of 200k with no side income yet?

if you are not paying more on transport then cool

Florblu:
For people saying his rent shouldn't exceed an 100k, can you please show me where to rent a comfortable room for 100k in LAGOS. If you mention Ipaja, Ayobo, Mowe, Ibafo, etc I will stone you because he will end up spending his money on transport fare and even drugs to maintain his health.

When people ask for questions, let's be realistic. Op can rent a room of 200k as long as he is ready to safe heavily. He will need to cut out lots of irrelevant expenses and double his effort in getting a better job or at least start s side hustle.

Even the Ipaja ,Ayobo you mentioned , N100k can only get you a room, just a room

smasher1:


It's good only if the person steals.

It's totally wrong to pay more than one month salary for a hard worker. Unless the house is a walking distance from the office. Then transport fare may have been saved by renting a expensive apartment for the salary.

how do you pple reason. Do you know that some pple earn below 50k. And where in Lagos would you see a 50k house

Mrkumareze:


Your comment made me come into the show, i keep wondering the kind of huz people want Op to live in...100k?? That must be in one of those swamp ... paying 200k is not too much for one who earns 80k a month....The place you live or work determines the kind of people you meet in life... Op should remember the place we live has a potential role in our life

can't he/ she share a flat with someone else and share the rent as well?

Goodplace:
If Someone is in a work of 80k per month can he afford a place of 200k with no side income yet?

It depends on whether the person is single or married but then your house rent shouldn't be more than your months salary if it can be avoided.

Goodplace:
If Someone is in a work of 80k per month can he afford a place of 200k with no side income yet?

I think it's unwise for he to safe money with the sole purpose of footing his house rent. A school of thought has it that ones rent should be equivalent to ones one month salary( or two considering how expensive renting can be) and I totally agree with that school of thought.