Apartment Hunting Amidst Inflation: Can I Afford Peace of Mind?
With the current inflation happening in my country, apartments in my area have greatly increased in price, and at the moment, I have been considering changing apartments. Although I just moved into my present apartment this time last year, I am in a way tired and frustrated with the different situations I go through regarding light and, most often, water. It is quite painful that my generator cannot save me in the present apartment I live in because the power of the pumping machine is way more than what my generator can carry.
I have been scouting for apartments for some months now, and the prices of the apartments I am seeing are over two times the rent of my present apartment, which left me wondering when the prices would become this expensive.
Inflation Rate And Naira Devaluation
I pay 140,000 naira for my present apartment, and most of the apartments that I am seeing out there that have the same standard as mine, i.e., having a wardrobe and a kitchen cabinet, are being tagged at 300,000 naira. It is so shocking that houses have gone this expensive, but it is not their fault but because the naira has devalued.
This time last year, a dollar was about 700 naira, and now it is worth 1500 naira. This means that if hostels are being tagged for $200, then at the time I got my hostel, it was 140,000 naira, and now with the price of dollar, it is meant to be 300,000 naira. I believe this is the only valid reason I can say why hostels may have gotten very expensive.
My Options
My rent would be due this month, and I have a choice to make, which is either to live in my present apartment with the issues that I am facing or I should probably try to write more often, save enough money, and if it is not enough, sell some second-layer tokens so that I would be able to afford renting another apartment. I don't want to involve my Hive Power because I have goals for the year.
If I may not be able to make that amount, I would probably ask for a loan from a friend (don't know who yet) that I would pay back in two months.
A friend's Situation
A friend of mine who is also scouting for an apartment came to my side today to ask if it was possible to rent my hostel. I laughed because he doesn't know what awaits him if he comes to my place. I explained to him why I was leaving too, and it was enough for him to change his mind as well.
He faces quite a similar issue to mine, but his own is a little more critical. The electricity at his place is a lot worse than mine, and if there are issues with electricity, they also transcend to water issues.
I advised him that if he wants to escape issues relating to electricity, then he has to leave for another estate because the one we both stay in always have issues with electricity.
My Hopes
I really hope I get to move to a different and much better apartment. I don't really care if I have 7 months left before my final semester at this school. I just want to enjoy the last 7 months with peace of mind and not have to worry about lack of water and electricity.
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Things are getting expensive day by day and the ones to pity most are people earning in dollars. Even things are hard, my prayer is that we should be able to afford whatever we want
Hostel fee is now on Bull run bro, I do not even know how to go about mine too though the electricity issue in my hostel has been solved. I won't blame the landlords because things are expensive now as Naira is loosing to Dollars.
I think getting a new apartment is best because power is sometimes too low in your hostel.