Checking some apartments to rent but the high interest rates here are pushing up prices so I may wait a little longer. Not in a hurry anyway
Checking some apartments to rent but the high interest rates here are pushing up prices so I may wait a little longer. Not in a hurry anyway
Rent via mortgage?
In this part of the world, you pay in full before you can rent a property. Only a few services offer part payment with interest
Oh yea I heard about that... here we pay a monthly rent in most cases
yea
But the truth is that this method will not really work in Nigeria based on the situation of things at the moment.
The minimum wage is around $50 per month. The cost of renting an affordable 2 bedroom flat ranges between $750 - $833
per year...
If you multiply 50 by 12 months, you'll get $600. Which means the minimum wage is not enough to get you an affordable home in Nigeria.
And many people receive monthly salary less than the minimum wage
Damn, that's tough man... I think that's why many Nigerian people are involved with crypto, is that right?
Yes... It is right. But, as usual, the Government isn't interested in what benefits the citizens, that's why they've been serveral consistent attempts to clampdown on everyone who's income is linked to crypto.
So, it is really difficult for people to keep up, and live comfortable lives.
The gap between the rich and poor keeps getting wider and deeper
Being able to wait to make decisions at more opportune moments is something that only well-prepared people can afford.
Not financial advice but I think the #fed is going to have to lead the world down in interest rates. It is likely to start by August.
I hope so, that would be nice
We rented for a long time and it got to the point where lease increases and renewals were impossible.
This is one of the things that many real estate companies take advantage of.