In your own opinion, at what age do you feel one should start thinking about owning his own house and make it a priority. I personally think Age 30, while some might say age 40. Remember that planning to own a house either through buying or building from scratch does not necessarily mean one has the whole money but one could decide to save towards building/buying a house or secure a financial aid. Lets get talking guys. Join the discussion here
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28

Logician:
28

Why?

onotukabiru:

Why?

A youth passionate about financial stability from should have a home by 28

Logician:

A youth passionate about financial stability from should have a home by 28

Interesting

Well, 30yrs isn't bad. I moved into mine at 29 and am still the youngest landlord in my estate at the moment but there's this guy that is currently putting finishing touches into his house, very close to mine, he should be in his mid 20's.

From the day you get a job, save exact amount of your rent as a mortgage fund.

It becomes an emergency the very year you get married.

Start building building with your spouse and set a realistic target with him/her.

drkay:
Well, 30yrs isn't bad. I moved into mine at 29 and am still the youngest landlord in my estate at the moment but there's this guy that is currently putting finishing touches into his house, very close to mine, he should be in his mid 20's.

Impressive Regardless of what the new guy building his house is into, I don't judge people but he still thought of owning his own home. Lots of these so called yahoo boys do not think that way so there must be something different about his reasoning.

NaijaFutbol:
From the day you get a job, save exact amount of your rent as a mortgage fund.

It becomes an emergency the very year you get married.

Start building building with your spouse and set a realistic target with him/her.

Well, For someone who is starting a job, don't you think other stuff like wardrobe (he has to dress up to office expectations), Feeding, Transportation (considering the fluctuating cost of transportation due to unending arising factors ), Utility bills, etc. I believe there has to be a certain level of financial stability before one can start saving for a home, besides its easier to save with a spouse if the person is married.

Nairalanders can lie ehn!

owning a home should ONLY be a priority if A) this is what you desire for your life or B) you have the MEANS to afford the house you DESIRE, where you desire it.

so many clueless people buy cheap homes in RUBBISH area, just because they want to own a house... and in turn, they are miserable as soon as they set foot in. if buying a home isnt beneficial to you 110%, then you shouldnt dream of buying it.

MRBrownJ:
owning a home should ONLY be a priority if A) this is what you desire for your life or B) you have the MEANS to afford the house you DESIRE, where you desire it.

so many clueless people buy cheap homes in RUBBISH area, just because they want to own a house... and in turn, they are miserable as soon as they set foot in. if buying a home isnt beneficial to you 110%, then you shouldnt dream of buying it.

I agree and disagree at the same time, yes i agree some people buy homes in what u regard rubbish areas, but also keep in mind that someone who buy's a house in a rubbish area for N5m, that house value would probably double few years from the time of purchase, owning a house is not just for having somewhere to stay, most times its an investment. He can sell the house and use the money to buy a house in what you might consider a correct area in the future.

onotukabiru:


I agree and disagree at the same time, yes i agree some people buy homes in what u regard rubbish areas, but also keep in mind that someone who buy's a house in a rubbish area for N5m, that house value would probably double few years from the time of purchase, owning a house is not just for having somewhere to stay, most times its an investment. He can sell the house and use the money to buy a house in what you might consider a correct area in the future.

again, if someone DESIRES to make an investment, such as a home, then fair enough that would fall under my point A, but do not assume that everyone MUST make such investment.
furthermore, such investment can get destroyed, lose value, get handed over in a divorce settlement etc, because as we all know, there is no such thing as a 110% safe investment

MRBrownJ:


again, if someone DESIRES to make an investment, such as a home, then fair enough that would fall under my point A, but do not assume that everyone MUST make such investment.
furthermore, such investment can get destroyed, lose value, get handed over in a divorce settlement etc, because as we all know, there is no such thing as a 110% safe investment

nicely put, can you please put this opinion on the main forum http://homesandlands.com.ng/forums/topic/owning-a-home/
its a response that should be seeing by many more

I think we need to do calculations according to our naija way before coming into conclusion of a certain age a guy should/must own a house.

* the guy needs to finish his university level.
* hunt for job
* if he is someone who didnt further his education, he will learn work.
* take freedom from his boss
* start chasing his dreams.
* families are there to cater for
*gf palava
*income and savings must be steady before he dreams of buying land talkless of building house
* he will be paying house rents (if he isn't living under his parents).

To me, I think a guy should have a home at the age of 35 if he isn't eating with all his hands. A start with a room & parlor self contain isn't bad if he can get a cheap land.

Opportunities that a 20-30 year old had to own a house might not be for other guys and besides most of these young guys building mansions might/may be fraudsters or using their parents cash.

MRBrownJ:
owning a home should ONLY be a priority if A) this is what you desire for your life or B) you have the MEANS to afford the house you DESIRE, where you desire it.

so many clueless people buy cheap homes in RUBBISH area, just because they want to own a house... and in turn, they are miserable as soon as they set foot in. if buying a home isnt beneficial to you 110%, then you shouldnt dream of buying it.

This line of thought is what a lot of people are ignorant of.

I'll prefer to live in a flat on the Island than to own a Duplex in a place like Ikorodu. FYI, the road between Bourdillon road and Gerrard Road both in Ikoyi is 2 lanes on each side. The road between Ketu to Ikorodu is also 2 lanes on each side, This is irrespective of the fact that the population in Ikorodu is about 1000 times the number of those in Ikoyi. If you seek affordable options, there are many estates after Ajah on the way to the new Lekki FTZ where the government is building 12-lane highways.

People don't understand that it's not only about building a house, the environment matters. There is no point hurrying to build in a slum when you can wait, save, strategize and make proper real estate investments. It's not how far but how well.

Well, everyone has a point here, it depends on how you see it. One has to critically analyze it. Wear and tear on cars, accessibility to social amenities, good schools, the class of people in the neighborhood, security issues etc has to be put into consideration. Some of these estates don't have the facilities on ground but they lure their potential costumers to believe that everything is going to be put in place once they move in. I have friends who have plots of land in the 'Bush'. when the pressure to own a house was much, they had to buy another one in their preferred area. Meanwhile, some people's lifestyle perfectly fits into owning a property in a remote area. For instance, if you work in an organization that has good accommodation facilities for it's staffs on the island and your wife has a good job in a place like ikorodu, you can build in a nice area in ikorodu where those facilities are accessible. Then, you'll be coming home every weekend. I prefer being a weekend husband to a being a husband who leaves home at 4am and comes back at 11pm, which most ppl do.

Whenever you are tired of paying for house rent

No specific age,not everyone will own a house,some will build,some will rent and some will buy.....just because you own a house does not make u better and successful than people who rent.....Build a house when you are financially ready to build one,stop looking. At others pace to do so...no one catches late comer in the hustle of Life

It awesome and dignifying to be your own land lord. For me this does not have to do with age. It is pecunia that will deceide.

Bro/sis even if you are two years old right now nd you have the bucks to fetch you an abode; do that sharparly. No age is too big or small for greatness

30

Waiting for the *who the house epp* crew

I don't think it's about age, it's okay as soon as the means arise

onotukabiru:


Impressive Regardless of what the new guy building his house is into, I don't judge people but he still thought of owning his own home. Lots of these so called yahoo boys do not think that way so there must be something different about his reasoning.

And automatically you have already began to question what the young man is into, whether yahoo or not. Why do Nigerians always think every young person who is rich might be doing something illegal? He might have rich parents or has very wonderful pay package with the company he works for, it's that simple.

NIgerians and their 'each and everyone should own a house mentality' else he/she is deemed 'a loser'. As rich as Jay-Z and Beyonce are, why do they keep residing in leased place.

[left][/left]v

As soon as good and stable money starts coming in

Nice input, i could remember some years back when i decided to "tie money down" i was advised by a friend to get 3 plots but i was like this place is not yet developed at all, i got a plot and completed it, just few weeks ago i called someone in that area to make inquiry for another plot and the price i got was like X6 of what i paid earlier i weak instantly

onotukabiru:


I agree and disagree at the same time, yes i agree some people buy homes in what u regard rubbish areas, but also keep in mind that someone who buy's a house in a rubbish area for N5m, that house value would probably double few years from the time of purchase, owning a house is not just for having somewhere to stay, most times its an investment. He can sell the house and use the money to buy a house in what you might consider a correct area in the future.

Op u are nt specific with era in ur write up.Do u mean in present day. Nigeria or in the 60's to. 80's. Presently in Naija given the current economic woes one can only envisage owning a house from the age of 50 and above

Everything should not be about age

Financial strength should be the considering factor

I think it should be pocket dependent and not by age.