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

Well said...

dangoteinlaw:
No mind those kids telling you no, for this Lagos accommodation is everything. Don't all in the name of saving go to a useless environment with so many bad belle plus no progress and rent one yeye house in the name of saving, get a nice apartment in a good neighborhood with educated neighbors and help your life o.those neighbors can even help u out of this 80k job into a better one.

best advice so far

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.

so out of 80k saving 17k per month for your rent is too much?

meekparagon:
Please think twice
I really agreed with those that advice you to go for land instead, while disagreed with those that advice you to go on.

I could still recalled some years back after finalizing with my ssce (waec). I got a job with a construction which I happened to go home with #50,000 as a painter, but sometimes I do go out for a private job.

There was a particular friend who always advice me to go and get one room self contain total of #180,000 and #130,000 annual, I disagreed with him and rented a room of #60k annual. That was how life begins.
1½ years later I was able to raised something with family support, and I got myself Toyota Siena that runs ajah to Berger #600 per passenger with seven contains. I did that and got a land at onousa half plot.

Currently doing my 100L at maritime academy. Then continued with during break.

The funny part of it , those guys that advice me to rent apartment of #180,000
Are still earning #50,000 with nothing to show except living in someone room and parlor while feeling big.


Please please please #goodplace don't allowed someone to helped you to economize your money or your thought try and take your own decision and think twice .
Good luck Bro.

50k, 130k or 180k wasn't the problem here really, it was what you were doing with the rest of your salary that set you apart. What were they doing with the rest of their own salaries after paying 130k or 180k? You didn't settle for only 50k job, they did. They got their priorities wrong

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

If u r single.. Please don't. Is not necessary. Put up in a lesser apartment. Save up as much as possible. Advance in carrier, get a land in a cheaper location.. That's a better plan.

However, if u r married, just know that u need to be absolutely saving half of your salary per month to be able to keep up with that rent.

Good luck

sunday0707:
I concur with you bro, this is what I did too, I didn't mind what friends said, and in a space of little time, my building is at roofing stage. My house rent is less than my one month salary even as I speak. Though It's only advisable if such person is still single. One can't afford to keep impressing others with big apartment when you have better responsibilities to cater for. In this 80k parents and siblings will get their own share, utilities are there, feeding and transportation likewise

Please where is your suppose house located and what is the proximity to your work place. If you're to rent it out, please how much is the cost of renting house there and if really cheap I guess your present rented house should be in the same area you're building your house else I will be pushed to say you built the house in a very remote area and going to work from there if you finally move in will definitely cost you more in future. Proper planning is the key. If the OP also say his salary is 40k I swear you'll still see people telling him to rent a house under the bridge and save up to build his own house from 40k salary....Confused people everywhere

Na suffer head u go be if u try this nonsense.

Offpoint1:

so out of 80k saving 17k per month for your rent is too much?

You want to break it down to per month Basis right.

Now imagine what would be spent on Transport, Feeding, utilities and personal savings every month. Whats left?

I did not put his wardrobe, family and social life into consideration.

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.

God bless you, other people are not concerned about wellbeing and other costs attached.

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.

Thank you jare

Your post makes the most sense.

fireback:

If you like doubt me, but God is my witness. As am talking to you right now, I have not even finish building my house but am happily building my 2 bedroom flat little by little. Infact let me make it clear to you that when I wanted to buy land, the area was a bit developed and land there was also expensive to my status. A plot of land was N1.2million, I could only afford qauter plot. I knw its too small, not that I was desperate to become a landlord, but all I wanted is to have my own house and stop paying rent. Am currently at the roofing level and as am talking to you now, the cost of a plot in that area now is N7million.
As for the point you made, that your friend had to sell his house when he lost his job.... My question to that is. what if he did not build the house, will that make him not to loose his job??. And what would he had relied on at that point in time??. The house served its purpose when he needed it. at least he lived in it while working and he sold it when he needed the money, though I don't know the situation that led to that decision.

Not building his house wouldn't have prevented him from losing his job.
The point was that at the period he wasn't building a house, he was expected to be saving and investing his saving.

serialkilla:
booze de importanter....lol

please what's booze?

meekparagon:


Awoyaya

In Lagos?

Benekruku:


You want to break it down to per month Basis right.

Now imagine what would be spent on Transport, Feeding, utilities and personal savings every month. Whats left?

I did not put his wardrobe, family and social life into consideration.

This are what come first after salary:
Your T-fare
Your Rent
Your feeding,
Then your personal saving...

These are the only thing you do monthly, they rest can be place at the bottom table of preference.

He knows his limits, he can't go for what he can't afford. Before he even go for a 200k rent he knows he can afford it, all need of other opinion.

I can't consider 200k rent if I know I can't afford.

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

You must consider transportation too. A lot of people don't check the cost of transportation to and from workplace. I make bold to say that most people that live in relatively cheap areas spent almost double of their yearly rent on transportation to and from workplace.

The key is chose the one that offers best value for money when you factor in Shelter, Transportation, and Comfort.

If your 2 months salary can cover your yearly rent and transportation cost best. if not, try 3months for both, and this should be the maximum. All the best!

dangoteinlaw:
I have seen so many landlords become tenants so many times that even the word landlord doesn't freak me anymore. Most landlords in my areas can't even fees themselves properly, the only time they look well is when one tenants rent expires. Mtcheew

Thanks. So many councilors and state house of assembly honourables everywhere! They are landlords now but living in penury. All what they did was to build house and buy car, no income, nothing. Better be a tenant for as long as possible in order to live comfortably today and build your own house to your taste tomorrow.

Its only in Nigeria I know everyone wants to build a house. Any good business oriented man will delay building house cos its expensive and focus on side income/business. Rent is very cheap in Nigeria so why will I build the house.
My wife and Family always disturb me to build house in Nigeria so that I will get a place to stay when I visit Nigeria. I always reject. A decent house I will build (3 bedroom flat) will be 8-10 million. I am just about 30 years. If i rent the same house, it will be approx 300k/ year. So why will I not invest the 10 million naira. Although there is risk in investment but its far better than building a house that you can not even convert to money when you need it. If I use 10 million to buy shares, it could multiply in future years.
So anyone that loves business/risk will not be in a hurry to build house. You will only build when you are very financially comfortable.

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

Imagine he was busy paying big rent and didn't build, will that stop him from losing his job ?

How did him building a house CAUSE him to lose his job ?

Assuming he lost his job and has no house to sell ? Will you give him food ?

OrestesDante:





Despite the fact that he still had to sell the house sure he will still be better off than spending relatively higher amount on rent.

He will still have more money in the end though he lost his job.

U are right.
Back then when my Brother is in money he spent about 30millions to build house, when the going get tough he sold the house; built low budget 5 2bedrooms he occupied one and rent the rest shikenan!

eyinola:
10% of 100k salary is 10K.. Which house can someone get for 10K per month in lagos cos a room face me i face u in my area sef is around 10K

No matter how you guys see this it doesn't change the what remains realistic. If he pays say 150k for an apartment that means he has already factor in transportation etc. Mind you after paying 200k he still has to pay NEPA bills, water bill, gas etc also factor in feeding and the need to take of people at home. How far can he go with 80k salary.
If houses are that expensive then he can go for a shared apartment.

Offpoint1:
Why not, your 3 months salary don cover up the rent

Shey na Landlord he dey go work for ni

thunderbabs:

Shey na Landlord he dey go work for ni

No, him dey work for Jesus.

Don't think about it. NO

Do u have a pay slip? What amount Is aloted to accommodation monthly? Multiply that amount by 12, that's the rent u are worthy of

Depends on how much you save monthly from your 80k job. What people earn a month is usually not my business. What's left after feeding, transportation and bills is the ultimate.

maasoap:
@Gentlewarrior1
Thanks for the insight. That has always been my opinion on becoming a house owner.
I could see that @fireback post is getting a lot of positive appraisals which is good because, that's actually what many people would do too. I know a guy who completed his house more than two years ago and he's yet to move in. And at the time, he was still casual worker. At the time, I asked why couldn't he invest those money in something else not even knowing that he wasn't going to move in quickly despite the fact that the house was ready two years ago.
When I rented my current apartment at 140k a year, people were asking me why not start my own foundation since I have land already? I simply told them that paying 140k annually on a rent was a better option for me because, for the rest of the year, I would have extra money to invest. If I start a house project now, everything else would stop, most especially, investment. House doesn't bring in money. Why not paying house rent for like five years and focus on investing the rest of your salary for that five years instead of labouring to own your own house during that same period? Your investment over a period of five years plus your paid job (if you still have that job) can build you a house in one year to your taste without stress. That's what I'm gonna do.

Please, which kind of investment. I'm looking for secure and reliable ways to invest. Thank you.

fireback:

If you like doubt me, but God is my witness. As am talking to you right now, I have not even finish building my house but am happily building my 2 bedroom flat little by little. Infact let me make it clear to you that when I wanted to buy land, the area was a bit developed and land there was also expensive to my status. A plot of land was N1.2million, I could only afford qauter plot. I knw its too small, not that I was desperate to become a landlord, but all I wanted is to have my own house and stop paying rent. Am currently at the roofing level and as am talking to you now, the cost of a plot in that area now is N7million.
As for the point you made, that your friend had to sell his house when he lost his job.... My question to that is. what if he did not build the house, will that make him not to loose his job??. And what would he had relied on at that point in time??. The house served its purpose when he needed it. at least he lived in it while working and he sold it when he needed the money, though I don't know the situation that led to that decision.

Wise man!
Thump up

Amaka earned only #20,000 monthly as salary but she lives in #550,000 apartment.

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.

This rule is not applicable in Lagos, so kindly indicate your location.

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.

My God will bless you for this words of wisdom

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.

Thank your stars that ọmọ onile still had a lot of land to sell around your property,you for don hear am.
Building a house when you earn a salary of less than ₦150k will put you in under more pressure.,it is not as easy as people think.
₦200k is more than a decent deal to pay on a rent when you earn ₦80k a month,all you need is just to look at the job security,of there is guarantee that your job is secure for the next 5yrs,you are good to go.

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.

Good advice

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

It all depends on you,if you value comfort,if you value stress free life,if you value privacy,go for it bro.
₦200k is just a decent amount for a fairly decent accomodations in Lagos depending on the location.
Do not listen to those saying it's unrealistic.
All you need to do is cut out unnecessary expenses and be focus.
But if you wouldn't mind waking by 4am and returning by 12am there are houses in outskirts where you can pay less.