TonyeBarcanista:
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.

Godson213:


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

Mercurypanther:
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

TonyeBarcanista:

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

dotun365:
No amount is too much for rent. Comfort can never be too expensive. I don't know what kind of apartment you are staying in for 300k in yaba to give any advise. But you should be mindful of the fact that Nigeria is a rough place and anything can happen at anytime so you want to build a good buffer in savings and investment and that could mean cutting down on comfort now.

vivaciousvivi:

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

marshborn:
Good evening nairalanders, I earn 100k a month which amounts to 1.2 million per annum.
I just secured an apartment in yaba which cost 300k per year. I chose yaba because of its proximity to the island which is where i work.

I want to know if the rent costs too much for someone of my status.

Am I about to start living above my means? Advice needed.

Budex40:


Who told you he's not grown up ? For christ's sake everyone has a right to his/her opinions. If he decides not to get married what is that to you ? Does it affect you in anyway ? Why do u humans use shaming tactics on some one who decides to live his life the he sees it fit ?

DJInfluence:
I think we need to understand where he is coming from and what living on the street must have done to him psychologically before commenting on what he said. i think his issue is more about fear of the unknown and he may require some help from a psychologist to get over that and start living life at its fullest.

Clarathomp:


You had me LOL at this. There's nothing wrong with marrying for companionship, in fact companionship is the major reason Eve was created for Adam. Because the story says and God saw that the man was lonely so he caused a deep sleep.........you get the drift sha.

haladadon:
I earn 194K and I don't even have a house, I squat with my uncle. I'm afraid of even spending the money. I used to sleep on the streets before with street kids.

now I don't want to leave my old lifestyle. only my dad knows I have a job. no one else knows.


renting a house is not worth it, you'll soon get lonely looking for who to marry and all that stuff.

Buffalowings3:

Manufor:

Dumbest comment I have seen in a long while,.. Squat with your uncle for the rest of your life,. You are not even ashamed to come here and say you squat with your uncle,..

chloride6:
OP
You are taking advice from people who don't live in Lagos.

You are on the right track my brother.

All the people saying 2 months blah blah don't spend 5 hours in traffic to and fro.

Someone was saying some built a house in ikorodu within 3 years.

You want to live in ikorodu and work on island ?

Especially when you have a job where you close around 8?

My brother enjoy your life.

How did you secure the apartment?

I need to move to Yaba this week.

My blood pressure is higher than my father's .

Can you imagine?

cnonyechi:


my brother some months na story. Electronics business is not an everyday thing and d profit is small. dont worry dear wat he and i make does not in any way equate wat we spend or have. Note we dont do yahoo or any shady deal its just as i posted. Its all God. if u allow God into ur life he will take to to heights u never imagined. look no child of God lacjs or beggs dir bread.I am a living teatimony

jesmond3945:
gbam is only God. I spend more than my income, infact i feed people both here in abroad and home but how it is done I don't know.

MossLuv:
Anything above 100k is too much

FabulousAutos:


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.

sylvez:


Op, please I also need a house around that Yaba axis, but I can't afford that 300k for now. Since you are yet to marry, can we share the space and share the bills. I just started working and I earn 80k per month. 08104701708

marshborn:
Good evening nairalanders, I earn 100k a month which amounts to 1.2 million per annum.
I just secured an apartment in yaba which cost 300k per year. I chose yaba because of its proximity to the island which is where i work.

I want to know if the rent costs too much for someone of my status.

Am I about to start living above my means? Advice needed.

Obeenah:
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.

PrinceBBlack:
Bros, u funny ooo. The beyyer u face reality now, the better. Being independent makes u grow and develop faster. My saying sha

cnonyechi:
funny enough in reality its not seen dat way i earn less dan 70k a month married with 3 kids my husband does bussiness (electronics) my rent in Festac is 400k kids termly fees 124k and den der is feeding, electricity, transport, clothing, travel and other expenses. but they r all met timely. My kids are well infact over fed they have every gadget they need to be happy.
Infact typing this just made me realise dat God has been sustaining i and my Family and i give him the praise. So its not about the mathematics in it becos all dos calculations can fail u its about ur standing with God. phil.4 - 19.
Am not making the money but am living the life through the grace of the Almighty God.
And i still SAVE.
NOTE
I have never spent more than 2000 for treatment and hospital for my kids. From January till date i and my family have never been to d hospital.
ITS ALL GOD THE GREAT PROVIDER AND PROTECTOR

Isiterere:

How will you spend more than your income , or how can you give what you don't have ? This is not making sense .

IbrahimDamola:
God no go let me dash up to 3 months of my annual salary give landlord. God forbid.
If I earn just 100k per month, I will stay in self-contain abeg.

Many of you enjoy life so much you find it easy to throw away what you should save for rainy days. What will you tell your kids in future if you can't meet their needs because you wasted money during your youth?


I saved 73% of what I earn for the past 5 years I plan to make more money next year and save 90% of what I earn for the next 10 years after I expand my hustle.

To save money sweet die, once I look my account balance, hunger go disappear and my belle go dey sweet me.

My role model is Warren Buffet, a billionaire who 's been living and working in the same building for over 50 years. Just imagine all the millions he must have saved on transportation over 5 decades.