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How much does renting actually cost

Post date: 31, Aug 2019

Upfront costs of renting 

Rent in advance
In most cases, you’ll also be asked to pay a year or two’s rent in advance depending on what part of Nigeria you live. Most landlords would require you to pay this lump sum before moving in.   

Moving costs
If you have to move more than once every few years, moving costs can add up. Depending on your situation, you may need to hire a truck, or trailer to shift your furniture or engage a professional movers to help you out.

Property basics
If you’re moving out of home for the first time, or into a property without the shared goods your housemates provided, you may need to pick up some furniture basics (e.g. a bed, table and chairs) and whitegoods like a fridge, washing machine and microwave. Don’t forget your household needs either – that’s things like basic food staples, cooking equipment (crockery and cutlery), cleaning equipment (vacuum, mop, etc) and bedding. .

Recurring renting costs

Utilities
Utilities refer to things like electricity, gas, water and internet. Depending on your lease, some, all or none of these utilities may be included in your rent. It’s a good idea to set a few naira aside each month  

Food
This one’s a no-brainer. You’re going to need fresh food, plus maintaining your basic pantry/fridge staples.

Pets
If Fido made it onto your lease, then you need to allocate some of your budget to food and any future vet bills. 

Transport
Bus fares, car maintenance (insurance, registration, petrol) all add up. Make sure you’re keeping some money aside for potential vehicle issues. 

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