Hi good business people. This is my first time of posting in the Business Thread and I will truly appreciate any help. This is my question:

what kind of plan can an individual have to enable him owe his own house in 10 years time, without using mortgages or loans. It has to be a kind of saving plan from his monthly income. Do banks have such plans that gives higher interest? Does anyone have an idea?

Depending on your income level and the type of house you wish to build, you may decide to secure land first, remember home isn't built in a day, the moment you are able to secure land other things will be gradual, if your income level is such that can enable start immediately after purchase of land, the next thing is to arrange for the plan for the type of house you need based on the available space of the land so that an Engineer will be able to give you an idea of what it will cost to ibid it, then you can plan for savings for let's I say a year to start with, the moment you lay the foundation, all your attention should be on the house with little or no distraction to enable achieve your dream. Good Luck.

acume: Depending on your income level and the type of house you wish to build, you may decide to secure land first, remember home isn't built in a day, the moment you are able to secure land other things will be gradual, if your income level is such that can enable start immediately after purchase of land, the next thing is to arrange for the plan for the type of house you need based on the available space of the land so that an Engineer will be able to give you an idea of what it will cost to ibid it, then you can plan for savings for let's I say a year to start with, the moment you lay the foundation, all your attention should be on the house with little or no distraction to enable achieve your dream. Good Luck.

Thanks for the reply Acume. Truly appreciate it. I am writing a property story on owning your own own using a 10 year plan. So I am taking as much advice and opinion from those who have an idea.