Income Based Apartments Lagos Nigeria - Free Income Based Housing Tips
based apartments Lagos Nigeria - This income based apartment guide is focused on helping site visitors appreciate the value of adopting the philosophy of income based housing.
The truth is . . . not everyone has the same income level. I wish we all do so we all can live luxuriously as the big shots of the society do. Unfortunately, that is not the case. In reality, there is actually a huge gulf between the rich and the poor.
| ||The rich do not have to worry about the cost of the apartment they occupy but they still are concerned about income based housing because they love to live in apartments that reflect how rich and powerful they are. |
So, even the rich worry about income based apartments! And for good reasons.
They want the very best apartments . . . houses that match their giant pockets.
If even the rich worry about income based housing, what about the poor or low income earners?
| ||Sure! Low to medium income earners need to also be seriously concerned about the cost of the apartments they occupy. |
Let's take an example.
Suppose your total earnings from all sources per month is 100,000 Naira. That means your total earnings per year is 1,200,000 Naira. What percentage of your monthly income should go into housing? 10 percent, 20 percent, 30 percent, or 40 percent?
If you are determined to live within your income and also invest appropriately in your future, then the income based apartment that will fit your pocket should be in the rage of 10-20 percent of what you earn.
Suppose you decide that your house rent should not exceed 20 percent of what you earn. Then if your monthly earnings is 100,000 Naira and yearly earnings 1.2 million, then your monthly rent should not exceed 20,000 Naira and your annual rent 240,000 Naira.
If you choose to spend 30 percent of your income on housing, then the maximum you should be prepared to pay for any apartment should be 30,000 Naira per month and 360,000 Naira per annum.
Whatever your income level, you should decide in advance to . . .
1. Live within your income level and
2. Save for the future
The truth is . . . life is never the same. Life is full of ups and downs. The unexpected happens and it can happen to anyone, rich or poor. If you are not prepared to deal with the unexpected, then you could easily crash from being rich or self-sufficient, to being absolutely poor without even a die to buy your next meal.
How do you prepare for the unexpected?
You prepare for unexpected events by saving for the future. And you save for the future by living below your income level. This includes deciding to live in income based apartments . . . income based housing that matches your income level or below your income level.
"The unexpected" referred to here doesn't have to always be something bad.
A person could be hit by unexpected ill-health that requires a major money-consuming operation. Your savings will come handy and to the rescue under such circumstances.
On the other hand, a person may be presented by an unexpected opportunity to buy a distressed property at dead give-away price . . . a property that has potential for huge return on investment.
This is an unexpected opportunity that this person should take advantage off immediately. But he cannot if he is not prepared by saving for it.
Income based apartments, Yes!
Don't live a false life to impress your friends. Live below your income, choose apartments for rent below your income level so you can save appropriately to grab life-changing opportunities.
It's the smart thing to do.
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