Budget for rent payment
Set the monthly total that you’d like to pay for rent. If you make $1000 a month and you think you can afford $500 a month, you might need to wait until you earn more money. Your monthly rent expense should be no more than about 25% of your take home pay. If you bring home $1000 a month, then 25% is $250. It seems like a small amount, but you probably need to get a roommate or you probably need to wait until you’re really ready to rent a new apartment in Ho Chi Minh City
Budget for Utilities
Include a budget of about 5% a month for utilities. It is not so expensive compared to other countries (about 10% of your income). That’s a good place to be when you’re thinking about renting a new place or moving out to an apartment.
Budget for Unexpected or Expected Apartment Expenses
Then finally, set aside some cash (3-5 month rent) just for the emergency case, job loss, health problems and any other case. For example, in the spread of Coronavirus in Vietnam, you may lose your job or decrease your income, a cash budget for at least 3 month rent will help a lot.
Those are my tips on budgeting for an apartment in 2020 in Ho Chi Minh City. You can find some options of apartment for singles or couples :
Management fee:
It depends on management team and apartment facilities. You will get monthly bills in your mailbox or at your doorstep with water bill and pay at the reception desk or transfer to the building management account.
Usually it is about VND17,000 -23,000 (US$80cent – US$1.-) per sqm for condos and apartments with swimming pool (City Garden, Vinhomes, Novaland, Everich, Estellar,…). You have to pay VND800,000 for a one bedroom apartment ($35 per month).
If you choose to stay in an old building in central area with no gym, swimming pool, elevator or reception desk. It will be very cheap about VND 100,000-150,000 only for public area lighting and garbage costs. In this type of building, the bodyguard will help to collect the fee monthly.
FYI, the most expensive management fee in residential building in Ho Chi Minh city is about VND 30,000 per sqm (US$1.2 per sqm per month).
* Note: Serviced Apartment for rent in Ho Chi Minh have a slightly different procedure. The fee is usually included in the monthly rent.
