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Nairaland Forum / Nairaland / General / Career / What Percentage Of Your Salary Should Be Allotted To Accommodation? (34407 Views)
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Re: What Percentage Of Your Salary Should Be Allotted To Accommodation? by Nobody: 6:58pm On Mar 15, 2016 |
ladyF:and spend the rest on trans abi.. 2 Likes |
Re: What Percentage Of Your Salary Should Be Allotted To Accommodation? by Nobody: 6:59pm On Mar 15, 2016 |
ladyF:lolz..plenty people oo..oya come abuja mk I show u LadyF9 which course u get F9 ni? |
Re: What Percentage Of Your Salary Should Be Allotted To Accommodation? by jboixxx: 7:00pm On Mar 15, 2016 |
ladyF:Can't pay my landlord with 4months salary, but you need to consider distance too. There are factors that determines choice of house like distance to place of work, availability of necessary amenities/facilities, family size etc. Anything above 2months is outta it except there's another source of income somewhere for that (prospective) tenant. |
Re: What Percentage Of Your Salary Should Be Allotted To Accommodation? by Ephemmm: 7:01pm On Mar 15, 2016 |
ladyF: "You can't earn 100k a month and be paying rent of 250-300k" Do they have choice than to live in mainland? House rent for mini-flat in average locations like Oworo, New Garage, Ojota, Obalende, Surulere, Gbagada/Bariga, Ojuelegba etc cannot be less than 300k per annum in Lagos, not to talk of other mini expenses that follows monthly. Unless you are living with your parent, you can't deny your knowledge of this. 6 Likes |
Re: What Percentage Of Your Salary Should Be Allotted To Accommodation? by hazyfm1: 7:01pm On Mar 15, 2016 |
ladyF: This is a very logical question, In Lagos you either choose to spend on accommodation or transportation. Both have their pros and cons, but I always advise people spend on accommodation, rather than spend more on transportation. Reasons being that: 1. Life is short, why live in Iyana ipaja/ Aboru/ Abule Egba and work in VI ? When you can live in Surulere 2. Why spend N1000-N1500 on transportation daily when you can spend less than N500? 13 Likes 2 Shares |
Re: What Percentage Of Your Salary Should Be Allotted To Accommodation? by Ephemmm: 7:03pm On Mar 15, 2016 |
ladyF: Without forgetting that majority of workplaces in Lagos are situated in VI, Lekki, Ajah, can you please mention places where they can live and get to work comfortably with less than a month salary? |
Re: What Percentage Of Your Salary Should Be Allotted To Accommodation? by lastmessenger: 7:06pm On Mar 15, 2016 |
Am looking forward to seeing how you look. Good thought though. ladyF: |
Re: What Percentage Of Your Salary Should Be Allotted To Accommodation? by olalat(m): 7:09pm On Mar 15, 2016 |
Or a heaven like far places like keffi BADNEAT: |
Re: What Percentage Of Your Salary Should Be Allotted To Accommodation? by Nobody: 7:11pm On Mar 15, 2016 |
olalat:maraba traffic ll frustrate u into resignation |
Re: What Percentage Of Your Salary Should Be Allotted To Accommodation? by manie(m): 7:15pm On Mar 15, 2016 |
Holarmide: You may need to change location or settle for something lesser. I have a policy of investing a minimum of whatever I pay as rent, hope you are buoyant enough to make a minimum investment of 400k per annum in a long term asset class. 1 Like |
Re: What Percentage Of Your Salary Should Be Allotted To Accommodation? by ogawisdom(m): 7:22pm On Mar 15, 2016 |
Single 10% of ur annual salary Newly Married 20% of ur annual salary 10years married 30% of ur annual salary/ preferably u shld b living in ur house n collecting rent from ppl ie for smart guys 15years married u shld b a landlord except someone swear for u 5 Likes 1 Share |
Re: What Percentage Of Your Salary Should Be Allotted To Accommodation? by Acidosis(m): 7:23pm On Mar 15, 2016 |
So many disgruntled analysts here. So a man earning N100k a month cannot rent an apartment of N250k? Please where else can a man earn N100k a month order than the cities where rent is expensive? So you folks want to earn N100k/month in a company in Lekki while you live in Osogbo where rent is N50k/year? If you want a rent of N5k per year, then be ready to settle with a 3k job. There is a reason why many Lagosians, after working for 25 years, are still unable to buy a land. Whatever you earn, be ready to spend on 'leakages' 18 Likes 2 Shares |
Re: What Percentage Of Your Salary Should Be Allotted To Accommodation? by askakim(m): 7:28pm On Mar 15, 2016 |
I only advise people to use a month and half salary to pay house rent.. It depends also too, highest two month salary is okay |
Re: What Percentage Of Your Salary Should Be Allotted To Accommodation? by sammychimex(m): 7:30pm On Mar 15, 2016 |
20% max. I believe dats ideal. As for me 30% goes to my expenses including upkeep. Mean while I am not into salary things. |
Re: What Percentage Of Your Salary Should Be Allotted To Accommodation? by mevisbleek: 7:30pm On Mar 15, 2016 |
Well, 15% is ideal Mr op. 5 Likes |
Re: What Percentage Of Your Salary Should Be Allotted To Accommodation? by blackboy2star(m): 7:30pm On Mar 15, 2016 |
Maximum 15% of my annual salary... 1 Like |
Re: What Percentage Of Your Salary Should Be Allotted To Accommodation? by OLUJOSHINS(m): 7:41pm On Mar 15, 2016 |
ladyF: just marry me. U are damn too smart to go to another man |
Re: What Percentage Of Your Salary Should Be Allotted To Accommodation? by olajorn(m): 7:44pm On Mar 15, 2016 |
Depends on where you ...if you live in city like new York,and you don't really earn much..you might be spending up 60% of income on accommodation 2 Likes |
Re: What Percentage Of Your Salary Should Be Allotted To Accommodation? by ans123: 7:46pm On Mar 15, 2016 |
Depends on ur status but the benchmark is usually 30% of ur net income. Those of u saying less than this are not quite familiar with the housing trend in Lagos. You will struggle to get a decent house for 20% of ur net income. I searched for a 2bed for 300k for almost 1year without luck. This was less than 30 % of of income. I had to up my spend to 450k before I got a fair deal. Proximity to work place is also key, save you want t spend the rest of your salary commuting to and fro. 3 Likes |
Re: What Percentage Of Your Salary Should Be Allotted To Accommodation? by prettyeyo: 7:48pm On Mar 15, 2016 |
You should settle for sth less. How do you feed and pay fees plus other things with that pay?? Go less my brother. Holarmide: |
Re: What Percentage Of Your Salary Should Be Allotted To Accommodation? by GboyegaD(m): 7:56pm On Mar 15, 2016 |
Not more than 40% of your monthly income is fine however, your location also determines how much you spend on accommodation. |
Re: What Percentage Of Your Salary Should Be Allotted To Accommodation? by viewflux(m): 7:57pm On Mar 15, 2016 |
6 Likes |
Re: What Percentage Of Your Salary Should Be Allotted To Accommodation? by uscofield: 8:07pm On Mar 15, 2016 |
The best shot is, don't live in a house that is above your two (2) months take home salary. It works like aboniki. It pays no one to pay heavily on rent and not own your own house. Open your eyes ooooooo. 3 Likes 1 Share |
Re: What Percentage Of Your Salary Should Be Allotted To Accommodation? by edrys(m): 8:07pm On Mar 15, 2016 |
Ephemmm: It seems a lot of peeps don't know the reality on ground especially in Lagos where housing is costlier. When I moved from Abk to Lag, I was expecting to see a mini flat of about 10k per month because I paid 7k in Abk, but to my greatest surprise all the way from Abule Egba to Mile2, a manageable minflat goes for 200k per annum at Okota area of Lagos its 250k. Mind you I work on the island. All environs nearer to the Island i.e ebutte metta, orile, Otto are volatile for my liking. 1 Like 1 Share |
Re: What Percentage Of Your Salary Should Be Allotted To Accommodation? by shocker007(m): 8:08pm On Mar 15, 2016 |
ladyF: Oya Take IT! ︻╦╤─ =========== LadyF 1 Like |
Re: What Percentage Of Your Salary Should Be Allotted To Accommodation? by akanniade10(m): 8:13pm On Mar 15, 2016 |
15% fair deal...... 20% (max) |
Re: What Percentage Of Your Salary Should Be Allotted To Accommodation? by marabout(m): 8:14pm On Mar 15, 2016 |
blackfm: Generally, over 1/3 is considered excessive. In developed countries. Under 1/4 is considered good enough. That becomes even better if you have your own house/flat, if without mortgage. |
Re: What Percentage Of Your Salary Should Be Allotted To Accommodation? by Lange: 8:25pm On Mar 15, 2016 |
Wherever you live in Naija, you should not spend greater than 10% of your yearly income on accommodation. Won't you save for other things? Investment, building your own home, marrying and training up your kids. Remember there's always a part of the city that will accommodate you whatever level you choose. |
Re: What Percentage Of Your Salary Should Be Allotted To Accommodation? by adconline(m): 8:27pm On Mar 15, 2016 |
Monthly rent should not exceed 1/3 of ur monthly income. |
Re: What Percentage Of Your Salary Should Be Allotted To Accommodation? by Nobody: 8:29pm On Mar 15, 2016 |
ladyF:u r ryt. LadyB=a wife material. |
Re: What Percentage Of Your Salary Should Be Allotted To Accommodation? by Elinob(m): 8:29pm On Mar 15, 2016 |
Just starting up but is not easy ooo |
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