How Many Months Salary Is Advisable To Use For House Rent? - Career

How Many Months Salary Is Advisable To Use For House Rent? - Career - Nairaland

Nairaland Forum › Nairaland General › Career › How Many Months Salary Is Advisable To Use For House Rent? (25216 Views)

How Many Months Salary Is Advisable To Use For House Rent? by 6ixVille(op): 5:19pm On Dec 06, 2023

Planning to get an apartment close to my work and im planning to use to my 3months salary for rent. Is this advisable and economical?

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Re: How Many Months Salary Is Advisable To Use For House Rent? by Queengee: 5:22pm On Dec 06, 2023

[/quote][quote author=6ixVille post=127349524]Planning to get an apartment close to my work and im planning to use to my 3months salary for rent. Is this advisable and economical?

1month salary is ok my personal view though

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Re: How Many Months Salary Is Advisable To Use For House Rent? by Hezzyluv: 5:25pm On Dec 06, 2023

Anything away from my 2months salary to settle my rent, count me out! The house rent no be my mate. grin

I even try to make things (house rent payment) easier for myself. I divid the total amount by 365 and make sure my palmpay save each day's amount in the luck. Then they would even give me interest after one year.

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Re: How Many Months Salary Is Advisable To Use For House Rent? by RepoMan007: 5:26pm On Dec 06, 2023

1.5 months. E get why.

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Re: How Many Months Salary Is Advisable To Use For House Rent? by 6ixVille(op): 5:39pm On Dec 06, 2023

My one month salary for rent can't get me a decent place cry

Queengee:
1month salary is ok my personal view though

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Re: How Many Months Salary Is Advisable To Use For House Rent? by 6ixVille(op): 5:50pm On Dec 06, 2023

Two months is not bad...bt im looking at the opportunity to network in that area because of the calibre of pple there and light never goes off. My 3months salary is me even paying like 1/4 of the total rent. Thanks for ur input

Hezzyluv:
Anything away from my 2months salary to settle my rent, count me out! The house rent no be my mate.

I even try to make things (house rent payment) easier for myself. I divid the total amount by 365 and make sure my palmpay save each day's amount in the luck. Then they would even give me interest after one year.

5 Likes 1 Share

Re: How Many Months Salary Is Advisable To Use For House Rent? by VeryWickedGoat: 6:20pm On Dec 06, 2023

6ixVille:
Two months is not bad...bt im looking at the opportunity to network in that area because of the calibre of pple there and light never goes off. My 3months salary is me even paying like 1/4 of the total rent. Thanks for ur input

So your annual salary if the full rent.

I look forward to your advise me vs landlord thread in the romance section next year.

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Re: How Many Months Salary Is Advisable To Use For House Rent? by 6ixVille(op): 6:39pm On Dec 06, 2023

Lool. Cant take the place alone, splitting the bill with my pals

VeryWickedGoat:
So your annual salary if the full rent.

I look forward to your advise iime vs landlord thread in the romance section next year.

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Re: How Many Months Salary Is Advisable To Use For House Rent? by missjekyll: 6:52pm On Dec 06, 2023

Thats just about right. 25%

6ixVille:
Planning to get an apartment close to my work and im planning to use to my 3months salary for rent. Is this advisable and economical?

7 Likes 2 Shares

Re: How Many Months Salary Is Advisable To Use For House Rent? by Meerahbel: 8:11pm On Dec 06, 2023

6ixVille:
Planning to get an apartment close to my work and im planning to use to my 3months salary for rent. Is this advisable and economical?

Yes, it is.

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Re: How Many Months Salary Is Advisable To Use For House Rent? by IyaTola: 8:42am On Dec 07, 2023

My yealy rent is about 22% of my annual income. I live in a 2 bedroom apartment in Alimosho LGA, Lagos. The environment is decent and I look forward to becoming a landlord in the same area. All the other tenants knew somehow that I don't belong among them. Living below your means is possible sometimes but the pressure is high & I wasn't "really comfortable" either. All depends on you & your goals.

Nigeria will humble you..the cheap house you're looking for does not have vacancy in the location where you work, now what do you do? and even the pay for the job can't meet your needs 50%..the system is happening to all of us, that's just the truth.. how many jobs pay over 100k today or how many people can pay their rent in this bad economy.

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Re: How Many Months Salary Is Advisable To Use For House Rent? by Oyindamolah: 8:45am On Dec 07, 2023*

Okay, salary 100k house 150k
Job location, Victoria Island.
House location, Sangotedo, Awoyaya.

Transportation 2k daily=52k

House at igbo efon, agungi, osapa, ilasan, ologolo and chisco 500-600k
Transport N600 =15k

I don't know but please if you pass mathematics in school you can help.

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Re: How Many Months Salary Is Advisable To Use For House Rent? by Hassanmaye(m): 11:33am On Dec 07, 2023

6ixVille:
Planning to get an apartment close to my work and im planning to use to my 3months salary for rent. Is this advisable and economical?

3 max

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Re: How Many Months Salary Is Advisable To Use For House Rent? by harsysky(m): 11:34am On Dec 07, 2023

Leave bonus and 2 month's salary max!

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Re: How Many Months Salary Is Advisable To Use For House Rent? by ednut1(m): 11:34am On Dec 07, 2023

These things dont have manual. Have you considered the traffic and stress when commuting back home huh

The 4 hours daily in traffic because you wan stay cheap place . Hmmm

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Re: How Many Months Salary Is Advisable To Use For House Rent? by emmanuelewumi(m): 11:35am On Dec 07, 2023

6ixVille:
Planning to get an apartment close to my work and im planning to use to my 3months salary for rent. Is this advisable and economical?

Personal finance experts believe your rent should not exceed 25% of your total annual income

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Re: How Many Months Salary Is Advisable To Use For House Rent? by olaolulazio(m): 11:35am On Dec 07, 2023

At most 3

1 Like

Re: How Many Months Salary Is Advisable To Use For House Rent? by 1TrippleCee: 11:35am On Dec 07, 2023

6ixVille:
Planning to get an apartment close to my work and im planning to use to my 3months salary for rent. Is this advisable and economical?

Too high

Re: How Many Months Salary Is Advisable To Use For House Rent? by Nazgul: 11:36am On Dec 07, 2023

Not more than 3 months cos transportation can consume up to 30% of your net pay. And buy the time you add your bills, you go just weak.

This is why it's always advisable to have other streams of income.

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Re: How Many Months Salary Is Advisable To Use For House Rent? by Skyfornia(m): 11:36am On Dec 07, 2023

One of the things I have read and was inspired from nairaland is reading some years ago that your annual rent should cost you maximum of your two months salary/income.. anything above that means you are living above your means.

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