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Nairaland Forum / Nairaland / General / Jobs/Vacancies / Is It Wise To Pay 200k/a Rent From 80k Job? (45783 Views)
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Re: Is It Wise To Pay 200k/a Rent From 80k Job? by 300wayne: 10:30am On Jun 23, 2019 |
. Gentlewarrior1: 1 Like |
Re: Is It Wise To Pay 200k/a Rent From 80k Job? by sunday0707(m): 10:30am On Jun 23, 2019 |
fireback: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 1 Like |
Re: Is It Wise To Pay 200k/a Rent From 80k Job? by Nobody: 10:33am On Jun 23, 2019 |
cyclops:80k for one year rent...... are you still under your parents roof?...... if not you'll know that type of money can only get you a one room apartment in a slum |
Re: Is It Wise To Pay 200k/a Rent From 80k Job? by clems88(m): 10:39am On Jun 23, 2019 |
princeking2:
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Re: Is It Wise To Pay 200k/a Rent From 80k Job? by onegig(m): 10:42am On Jun 23, 2019 |
Bestinstinct: Most are just blinded by the bulk sum. 30k in 12months is 360k. Factor in the cost you spend on servicing the car monthly due to the rigours you go through daily , then the stress from driving long hours daily and you would see your are shortchanging yourself in the long run. If we had rail systems that worked and you could hop into a train from the city centre to the outskirts then that's fine but staying far away in most Nigerian cities is just a death wish. If you don't have a car, you contend with One chance, pick pockets, stress of hapharzard public transport system. If you have a car, long distance, bad roads , costs of maintenance. So why not just move closer and cut those troubles out of your life? 2 Likes |
Re: Is It Wise To Pay 200k/a Rent From 80k Job? by AgentGoat: 10:43am On Jun 23, 2019 |
How much can you save from the salary should be the question. You can't afford 200k house. Take transport, feeding, your basic needs in a month, send some change to friends and family members. If you want finish yourself you go get nigerian girlfriend. If you no get side hustle or any another place where you fit get money. My friend forget. If you manage save the 200k in year na rent you go take am pay. 80k no be big money o |
Re: Is It Wise To Pay 200k/a Rent From 80k Job? by Adakintroy: 10:45am On Jun 23, 2019 |
Gentlewarrior1: Guy rent na bad thing no think am . Your example had a clause. That things only turn south because the guy lost his job. So what if you are in rent and you lost your job? That no be village.? At least you have a place to rest your head when you a landlord. When my dad lost his job Our saving grace was we already move into our house. IF NOT, I for DE farm by now for village 4 Likes |
Re: Is It Wise To Pay 200k/a Rent From 80k Job? by Gentlewarrior1(m): 10:45am On Jun 23, 2019 |
OLASUNKONMI: Words of wisdom sometimes sound foolish to the ordinary mind. So i understand why you think the reasoning is wrong |
Re: Is It Wise To Pay 200k/a Rent From 80k Job? by Bestinstinct(m): 10:46am On Jun 23, 2019 |
onegig:Thank you my brother.... |
Re: Is It Wise To Pay 200k/a Rent From 80k Job? by Gentlewarrior1(m): 10:46am On Jun 23, 2019 |
300wayne:Not at all |
Re: Is It Wise To Pay 200k/a Rent From 80k Job? by Funnyman: 10:47am On Jun 23, 2019 |
meekparagon:Nice one 2 Likes 1 Share |
Re: Is It Wise To Pay 200k/a Rent From 80k Job? by fireback: 10:48am On Jun 23, 2019 |
iAudio:Yes its easy for me because I made it easy for myself by cutting my coat according to my size. . For your second question- any civil servant who earn 80k per month and save up to 400k per year can buy a land in the city. Don't forget I couldn't get up to a plot as at that time, so I went a qauter plot. In situation where you cannot get land at dat price, all you need do is look for cheaper land in other area close to your office where you will not spend so much on transport. After all with your 200k per year rent, you will still pay transport. |
Re: Is It Wise To Pay 200k/a Rent From 80k Job? by Victorenakevwe(m): 11:00am On Jun 23, 2019 |
It is not wise but wetin man go do. Especially places litke Lagos, portharcourt and abuja where the cost of living is on the high side. I will advice that one should just wise up in his ir her speeding, making sure there is savings for landed project. |
Re: Is It Wise To Pay 200k/a Rent From 80k Job? by joinnow: 11:13am On Jun 23, 2019 |
Goodplace:Shouldn't be more than 30% of annual salary. So you are still in range. Max 288k |
Re: Is It Wise To Pay 200k/a Rent From 80k Job? by tee4naija(m): 11:13am On Jun 23, 2019 |
Gentlewarrior1: He is right. My current rent is just about one third of my monthly pay. I live and work in a place about an hour drive from my home town. I have built 2 decent houses in my home town. If you don't want to live in perpetual misery, ensure your rent do not exceed your 2 month salary for whatever reason. Rents and other expenses increase faster than salaries. Always think of when you have responsibilities even when you are still single. However, the fact that you have your own house does not mean you should stop paying rent. I want to live in my own house is the reason why some people live in abject poverty. Consider the cost and ease of transport to your place of work. Consider availability of basic amenities around your house. Some people live in their own houses and yet spend more on transport to work than they spend on rent . This is an unwise decision. 1 Like |
Re: Is It Wise To Pay 200k/a Rent From 80k Job? by celeiyke: 11:15am On Jun 23, 2019 |
It is financially heathy to have ur rent hanging between 70-90% of ur two months salary |
Re: Is It Wise To Pay 200k/a Rent From 80k Job? by Gentlewarrior1(m): 11:17am On Jun 23, 2019 |
tee4naija: Well you just explained the whole thing better You are very much correct bro 1 Like |
Re: Is It Wise To Pay 200k/a Rent From 80k Job? by fireback: 11:23am On Jun 23, 2019 |
Mrkumareze:100k rent swamp??. Pls is alen avenue at ikeja lagos a swamp? Cos I have a friend who lives there and he's paying 80k/yr for a room selfcon. |
Re: Is It Wise To Pay 200k/a Rent From 80k Job? by Hotfreezers: 11:23am On Jun 23, 2019 |
fireback: Which city? Benin city or Kaduna city? When you come to Lagos, drop all these theories at Berger before you enter Lagos. Those who followed advice like this built in slums surrounding the city. For them to get to work is a problem. To go back home is war. 5 Likes |
Re: Is It Wise To Pay 200k/a Rent From 80k Job? by Hotfreezers: 11:26am On Jun 23, 2019 |
fireback: Ask your friend to tell you the truth. A room self con in Allen - Opebi stretch usually goes for 250k. 6 Likes |
Re: Is It Wise To Pay 200k/a Rent From 80k Job? by Hotfreezers: 11:29am On Jun 23, 2019 |
tee4naija: You are one of the very few sensible posters on this thread. In Lagos, those living in Mowe Ibafo, Iyana Ipaja, Sango are the most frustrated, combative fellows you see at bus stops. The environment has affected them psychologically and has worn them out. Most of them own the houses they live in but take a look at them and you'll shake head for them. 5 Likes |
Re: Is It Wise To Pay 200k/a Rent From 80k Job? by xolomonstrides(m): 11:34am On Jun 23, 2019 |
SoNature:when you earn that and work in Lekki then you would know that it is worth it... Especially if the place is very close to your office and you have to save on transportation cost. |
Re: Is It Wise To Pay 200k/a Rent From 80k Job? by maasoap(m): 11:35am On Jun 23, 2019 |
@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. 1 Like |
Re: Is It Wise To Pay 200k/a Rent From 80k Job? by vivalavida(m): 11:37am On Jun 23, 2019 |
One thing to consider is comfort,safety and proximity to the office.l earn in the same region as the OP. I earn 96k. But truth be told I can't see myself living in a face me I face u apartment. I took a one bedroom apartment in an area close to my office where there is security. Its a gated estate with a police station close by and constant power supply.I pay 200k as rent. Transportation to and fro the office is #100 daily. Lunch is served free at work.So those saying nonsense are people who don't value their safety and comfort.what if while saving that money and living in an insecure place,all those Badoo boys in ikorodu use that their stone and smash Ur head in the night? Abeg oo I have a colleague that stays in one far away place like that and lives in a face me I face u. He earns a bit above hundred. He pays close to #2500 weekly as transportation everyday. The stress no be here for the guy. Last week he was doing the calculations and found he spends about #125,000 yearly as transportation. Some days the transport fare is higher sef. He gets home late and by 4am he is awake already. I start my day around 6.45am and still get to the office before 7.30am as I don't encounter any form of traffic to and fro the office. So there are plenty things to consider when renting a place biko 16 Likes 3 Shares |
Re: Is It Wise To Pay 200k/a Rent From 80k Job? by tintingz(m): 11:39am On Jun 23, 2019 |
meekparagon:Rent of 60k, where is that? 3 Likes 1 Share |
Re: Is It Wise To Pay 200k/a Rent From 80k Job? by ticker(m): 11:41am On Jun 23, 2019 |
fireback:wisdom fall on you |
Re: Is It Wise To Pay 200k/a Rent From 80k Job? by tintingz(m): 11:41am On Jun 23, 2019 |
vivalavida: I think some people don't consider the environment they should live which really matters. 2 Likes 1 Share |
Re: Is It Wise To Pay 200k/a Rent From 80k Job? by maasoap(m): 11:42am On Jun 23, 2019 |
300wayne: May be, but it is full of wisdom. The first step doesn't necessarily need to be about owning a house. That's why many paid workers still labouring into their retirement age and even after retirement. They don't give investment any priority. |
Re: Is It Wise To Pay 200k/a Rent From 80k Job? by meekparagon(m): 11:43am On Jun 23, 2019 |
tintingz: Awoyaya |
Re: Is It Wise To Pay 200k/a Rent From 80k Job? by Prinxx(m): 11:43am On Jun 23, 2019 |
Please if you do not stay in Lagos or Abuja, we don't need your comments. I laugh at the comment from some people? You are looking for a 100k apartment in fair areas in Lagos? That can only be a room where they share � and bathrooms. Agency and agreement never cut your neck. I stay in an area where I only spend 200naira to and fro work but the rent is expensive, my colleague that pays same amount for a bigger apartment is highly frustrated because he spends more on fixing the car and fuel. Do the maths you end up trading your comfort for nothing. In Lagos you have 2 options, either the bus driver takes your money or the landlord does. I will stick to the latter because my health and safety is very paramount. Don't be penny wise, pound foolish. 8 Likes |
Re: Is It Wise To Pay 200k/a Rent From 80k Job? by Nopanties: 11:44am On Jun 23, 2019 |
Hotfreezers:Where is your brain nah. He said it's an avoidable luxury . |
Re: Is It Wise To Pay 200k/a Rent From 80k Job? by vivalavida(m): 11:45am On Jun 23, 2019 |
tintingz: No mind them. 1 Like |
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