How much is the monthly rent? Uninterrupted finance for your peace of mind
This is often the first thing people think about when renting a condominium; the ability to afford rent in a reasonable amount. Establishing a good budget will allow us to allocate our money properly for a comfortable lifestyle. BR Agents will help you recommend a formula to proportionately allocate your money properly for simple finances.
A simple, comfortable formula for spending is 50/30/20 as a percentage, which many financial advisors recommend for your income.
50% should be for expenses payable every month, which means things such as transportation, meals, and rent should be placed into this section. Try to calculate how much do you use regularly each month. If the rent for your condo already exceeds this budget, then perhaps you’d need to look for a lower price, if you think you can adjust other budgets, then it shouldn’t be a problem.
30% should go towards entertainment, going out to parties, shopping etc.
20% should be for savings, as this is a very important part. You should have an emergency fund available at hand, at least 3 times your regular monthly income.
The formula can be adapted to our daily lives, for example, if we rarely spend money on personal expenses and entertainment, then more can be added to condominium rental, and you’d still be comfortable. If you’re renting closer to the train station, public transportation, or place of work, then part of the transportation cost can be added to the rent budget as well.
This method allows you to save more time, although a little fussy at first, the results will make your life much more convenient and happier. Or even better, come talk to us BR Agent, who will act as your personal consultant and advisor. In addition to that, we also have many on-going promotions that will make renting a condominium even cheaper than contacting the owner of the condo directly as well.
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