While having a conconversation with someone the other day, there was a talk of me having a property in nigeria even thought I don't live in nigeria. I was told that buying modern newly built or building on a land can cost as little as 5 million (with or without cost of land) naira in Ibadan. Ofcourse, I thought the person was talking out of their back side as I thought 5 million naira is too small to buy or build a house. This is why I want to know if it is really possible to own a property with 5 million naira.

Is it worth buying or building a property in nigeria when the owner lives abroad and only visit nigeria once a year. I thought for someone that only visit once a year staying in an hotel or resting a short stay apartment may be better option.

If I was to build a property or buy a newlyy build in ibdan, I would like a property with rental income. For example, a duplex style flats that I can keep one section and rent out the other section of the property.

If it's possible to buy or build a property for 5 million naira (with or without cost of land), can someone please show me properties that can be bought around 5 million naira or better show me design of a property plan costing around 5 million naira to build without cost of land.

Happy new year.

Hi,

Happy New Year. I split my time between US and Nigeria (Ogun, Oyo, and Lagos). Even without the land, it might be POSSIBLE with something like a 2-3 Bedroom for your self only but i am not sure if possible if it will consist a rental income.

A 1 plot with a 2-3 bedroom and a BQ will gulp like 10k blocks. That is N1.4m. Roofing will be about N1.2m

No fixtures . No materials and workmanship. Borehole. Plastering etc.

And when you are not on ground, it will cost a bit more cos you wont be able to price shop around the laborers.

That is just my input

Good luck out there.

https://www.nairaland.com/2069634/planning-starting-building-project-ibadan
Check That Thread.. we've help many people from Abroad owning a Property here in Nigeria.. But the Things is One of Your family member Or relatives must be present to monitor and supervised the project( Atleast on Your behalf)

USAutoBuy:
Hi,

Happy New Year. I split my time between US and Nigeria (Ogun, Oyo, and Lagos). Even without the land, it might be POSSIBLE with something like a 2-3 Bedroom for your self only but i am not sure if possible if it will consist a rental income.

A 1 plot with a 2-3 bedroom and a BQ will gulp like 10k blocks. That is N1.4m. Roofing will be about N1.2m

No fixtures . No materials and workmanship. Borehole. Plastering etc.

And when you are not on ground, it will cost a bit more cos you wont be able to price shop around the laborers.

That is just my input

Good luck out there.

When you say 2 to 3 room for my self, would that be a bungalow or duplex.

depending on the location in Ibadan.
land in Ibadan varies 350k to millions. with cheap land like 350- 500k, you can do something but would be bungalow with close supervision.

ibl0010:

When you say 2 to 3 room for my self, would that be a bungalow or duplex.

It will be a bungalow. A duplex will require decking which can run you almost N2m alone.

Your budget is not big enough

USAutoBuy:


It will be a bungalow. A duplex will require decking which can run you almost N2m alone.

Your budget is not big enough

in that case what is the minimum to budget for a duplex or flat.

ibl0010:

in that case what is the minimum to budget for a duplex or flat.

I will say 10-12m all inclusive

USAutoBuy:


I will say 10-12m all inclusive

10 to 12 is not too bad. In nigeria is duplex the same as flats. I am looking for something that I can have a rental in come as well . Would like something I can keep one section and let out the other. The way there is always gonna be someone living in the compound instead of locking every think up as I only visit nigeria once a year.

what is the cost of building
foreign and standard
4bedroom duplex with 24 by 24room size with BQ and 3sitting room including all finishing to live inside ,by using stone coasted roofing sheet/korea stone sheet and interlock around and In Lagos and Ibadan. On 2
to 3plots.

If buying or building a property with rental income potential that the owner can live in one wing and rent out the other wing, are flats the best type of property to build or buy in this instance.

ibl0010:
While having a conconversation with someone the other day, there was a talk of me having a property in nigeria even thought I don't live in nigeria. I was told that buying modern newly built or building on a land can cost as little as 5 million (with or without cost of land) naira in Ibadan. Ofcourse, I thought the person was talking out of their back side as I thought 5 million naira is too small to buy or build a house. This is why I want to know if it is really possible to own a property with 5 million naira.

Is it worth buying or building a property in nigeria when the owner lives abroad and only visit nigeria once a year. I thought for someone that only visit once a year staying in an hotel or resting a short stay apartment may be better option.

If I was to build a property or buy a newlyy build in ibdan, I would like a property with rental income. For example, a duplex style flats that I can keep one section and rent out the other section of the property.

If it's possible to buy or build a property for 5 million naira (with or without cost of land), can someone please show me properties that can be bought around 5 million naira or better show me design of a property plan costing around 5 million naira to build without cost of land.

Happy new year.

Oga USAutoBuy has said it all , The first thing is to get your land in a good location that you like , get your twin two bed room design on it or Duplex Design , but if you prefer Duplex design, you have to get the land in a very good area, its matters a lot because of good rental income.

You need something like any one of these Design link below (Two or Three Bedroom apartments all en-suit depending on size of the Land ) and you can now add two bedroom en-suite penthouse for yourself to the design while you let out the twins two bedroom flat .

http://www.masterstouchstudios..nl/2012/10/3-bedroom-twin-bungalow.html?m=1

https://www.nairaland.com/457338/affordable-architectural-designs-nairalanders/50#28233647

http://www.masterstouchstudios..nl/2013/10/3-bedroom-twin-bungalow.html?m=1

https://www.nairaland.com/457338/affordable-architectural-designs-nairalanders/48#26458175

https://www.nairaland.com/457338/affordable-architectural-designs-nairalanders/45#25012914

Ibadan based builders and land sellers should chime in.

I know this is some years later, but i have a property for sale. Its mine and it is 2 fenced plots with red copy for sale along liberty Academy road, off Alao Akala exp way, Ibadan. Reduced price 3 million. You can contact me on this number 08032016241

archay9:
I know this is some years later, but i have a property for sale. Its mine and it is 2 fenced plots with red copy for sale along liberty Academy road, off Alao Akala exp way, Ibadan. Reduced price 3 million. You can contact me on this number 08032016241

Still available?