WebSurfer:
so, on your thoughts , only yahoo boys can do that, well, i have been staying in my house for 2 years and six months immediately i graduated from the uni, meanwhile i'll be 25 soon.. if it must interest you to know, iv never been paid any dime from overseas, nor touched a gun my whole life. dont judge people easily that way

Why did you not state how you came about the money to build the house (at your age) so as to convince people that you are indeed a clean guy. Your story might even encourage other young men.

CHISOMPHILIP:

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





Asin u go don build ur own haus at 28...abeg which time the person finish sch abi him papa na Dangote

figure007:
Different funny comments....you pple think it's that easy to just put up a house when you have alot of bulletin settle for yourself and families....most of you ain't married yet that's why your saying this ....it's only by God Blessing and not man power

Dont mind majority of them.Some get their thru inheritance and come here to form "i have 2 house blah blah".
To add salt to their wound those claiming they have house from 21-25 age refuse to show us types of house they built or proof how they go about it rather it is boastful as usual(naija thing).

it depends on your progress in life. Ideally, 30 is fine.

murmee:
Why did you not state how you came about the money to build the house (at your age) so as to convince people that you are indeed a clean guy. Your story might even encourage other young men.

in Nigeria, most people dont want to hear that... They always think about fast money..

And of course you know few of the ways they go such lenght to achieve. which is very wrong. a true success takes time, principles, patience , hardwork, intelligience ( not exactly educational intellience but knowledge amf wisdom ) .. Well, the thread is about building a house , so lets focus there

I will move into mine at 29 it almost done and will be ready by September 20th my birthday. 100% legit

Lets check our fingers, are they equal?
Time and chance happens to all man.

If both the Lion and the snail should run a race and both cross the finishing line irrespective of the time. I think both of them were successful.

Time and chance.

MrMcJay:


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.

Very good points. Some people go to live in slums where they aren't safe but because their house is done up nicely they feel it's a small matter. Quality of environment affects health, mood, n even influences one, after all one will go out to chill in the area a couple of times n end up meetin others in the locale. Not that Ikorodu is a bad place however, just the traffic issue, which also makes living Ikoyi better than Ajah. Anyway, I feel one should start making it a priority from age 25, not that one must hv the house by 25 but I've seen that the earlier one focuses on something the faster it is achieved, even when there r setbacks along the way.

Acidosis:


Many Nigerians build because they were made to believe building a home is cheaper than RENT. That idea is false. Some also built because they want to leave a property for their children. I factor these reasons, and conclude that it is unwise to hurriedly build a house, especially when there are many ventures one could lay his hands on.

The real and hidden reasons people hurriedly build a house in Nigeria include:

1. Fear of taking risks
2. Zero business/investment acumen
3. The believe that they'll some day fail or get fired, hence the need to quickly secure a home
4. The believe that a landlord is the reason they have little to zero savings.

For a young man of 25 - 29 yrs, haba! there are many investments one could put his money into. The fear of N100,000 rent shouldn't make anyone to pour N5 million & more on an immovable asset.

At least, raise a family, wife and children and let the decision be made collectively. But like someone said, people have varying pursuits. Some prefer to get a decent job, own a car and build a house. To them, that's the ideal lifestyle. Some just want to enjoy life, while some are ready to pour their earnings on more degrees oversea, so I'll try and avoid judging anyone.

Life experiences actually helps in making decisions. I personally have never had good experiences with landlords.

In my very last experience, my landlady increased my house rent at Gbagada from N1M to N1.5M just because i bought an expensive SUV while my neighbour, a pastor who leaves in same prototype apartment was paying 750k per annum.

That alone was enough to motivate me to move to the next level and I have never had any regrets.

queenfav:
You raised valid points..first off all, i see it as an investment..My mother bought d land on which our house was built for 70k..today we get 120k rent annually for the bq.I just want a landed property somewhere that i can put up for rent,i mustn't live there na..With the high rate houses are let out for,trust me,i would recover my money in 5-7 Years. As for work and marital considerations, i cant let any of them hold me back,even if my husband lives elsewhere does it mean he has to move in with me?I am yet to be married so have to make plans for me and me alone,it doesn't stop me from getting married or taking up a job offer abroad.I want to build a house so i can be getting rent from it,rather than invest in a business that i can't supervise personally.

I understand your points and aspirations. If your aim is to make profits, you need to put into considerations the purchasing power of dwellers, ROI, etc.

My dad built a house in our village just behind my grand father's home. While I can't remember the total amount spent on the building (just a 3 bedroom apartment), today we practically plead with people to live in the house for FREE. I've not been to the village in 5 years. My dad's intention wasn't to make profit, so he has no regrets. His aim was to build in his home town, which he achieved even before building in his town of residence.

However, real estate is a lucrative venture if you go into it with the mindset of profit. Some build BQs to entertain neighbours and escape boredom. Some do it for yearly cash-flow upon retirement, etc.

However, majority do it for the wrong reasons, and that's why some landlords keep increasing rents yearly & frustrating their tenants to meet their unrealistic expectations. In real estate, the more money you have to invest, the more likely you'd excel. Personally, I don't encourage the struggling population to go into building with the expectation of profit, or cost-effectiveness. That target is hardly met.

If you have other ventures to tap into, please go ahead. Building saps money quickly, and the ROI, like a snail, comes slowly, even when your tenant is willing to pay 3 years upfront.

not by power nor by might says the Lord..we have 16 year olds who their father don put 500 million for their account and we have 60 year olds weh never see 1 million naira before...

Thanks God for your own life and dont set trget for people as we all come from different places...

First of all you said 200K-300K anually for a 2 bedroom flat for 50years is #10M-#15M,remember rent increases as cost of living in other aspect increases but the 1 plot of land can contain a 6block of same 2 bedroom flat at bungalow level,building with #20M for the 6 blocks.

Acidosis:
Building in Nigeria is overrated.


It is economically cheaper to rent a house in Nigeria.

The money you spend renting an apartment for 50 years in some areas in Lagos cannot buy a plot of land.

E.g. A 2 bedroom apartment cost N200,000 yearly.

Multiply N200,000 by 50 years
That gives us just N10,000,000.

In Akute, Ogun state, one could get a 2 bedroom apartment at N200,000 - N300,000 annually.

In the same Akute, a plot of land sells for an average of N10,000,000!

What sense does it make to build just because you want to become a Landlord?

Many Landlords who put their houses on rent do not recover their expenses until after about 50 years. Build when you have the means, and ready to settle down as a made man. Building has never helped anyone, except those who deal on real estate.

baslone:


Life experiences actually helps in making decisions. I personally have never had good experiences with landlords.

In my very last experience, my landlady increased my house rent at Gbagada from N1M to N1.5M just because i bought an expensive SUV while my neighbour, a pastor who leaves in same prototype apartment was paying 750k per annum.

That alone was enough to motivate me to move to the next level and I have never had any regrets.

For someone who could conveniently spend N500k on rent, owing a house should be a top priority.

Sir, you acted rightly.

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.

Please, where do u work?

mapet:



A lot of sacrifice must go into this. I believe people should tell themselves a reality of postponing comfort for a 5-10 year period. Starting early is also key. I remember I once advised my sister in law that to make her relationship worthwhile, she and fiancee should commit to house project - either build or buy.

In 2007, I gave my wife 900k to cover a summer trip. She suggested we shelve summer that year so that we can invest in a business she's had her mind on for a while. I bought the idea (making ICE BLOCKS in large quantity) and we started. We built a mini-factory from scratch. Summer was shelved for 6years. It was a rewarding experience for us....but one thing that was key, the experience I got building the factory was key both as impetus and little experience in building the one we live in today.........I will forever be grateful for the kind of wife I married. She like her grandmother believed in the concept of "tying things down" (building projects)

I am currently thinking of starting a complex next year (4 floors minimum), consisting of supermarket, restaurant and office spaces. I simply tell myself that after acquiring the land, I just need to throw a minimum of 5 million Naira at it every year and will wrap it up when I exit paid employment.

Thats still what we are saying. The perspective with which you're talking from is based on how financially capable you are. You cant buy a land with N100 anywhere. Financial capability is key.

Plots of land available at Mowe opposite the gigantic The New Makun City being developed by Ogun state, void of acquisition and any encumberance, payable in 2-3 instalments. Full plot @450k and half at 225k. Buy and move to site immediately. Call now, Adeolu 08075454702

812clothings:
First of all you said 200K-300K anually for a 2 bedroom flat for 50years is #10M-#15M,remember rent increases as cost of living in other aspect increases but the 1 plot of land can contain a 6block of same 2 bedroom flat at bungalow level,building with #20M for the 6 blocks.

You're right sir, nice analysis

No time,your life and health should always be the priority,if opportunity to own a house arise,then that's a bonus.

This I must make it mentality is killing Nigerians.

24 at most 25years, I moved into my own house at 24.... Although it's a 3bedroom hoping to relocate to a much bigger house before the year runs out... Buying a land here in Abuja is quite expensive so u can rent and hustle harder till you can do whatever.

DonMaxxy:
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

So, owning a house is your definition of greatness?

Oyin93:
how old are you?if u r above 28,do u own a house already?

I'm 26 and I have a house

At whateva age ur financial capability affords such project

Acidosis:
Building in Nigeria is overrated.


It is economically cheaper to rent a house in Nigeria.

The money you spend renting an apartment for 50 years in some areas in Lagos cannot buy a plot of land.

E.g. A 2 bedroom apartment cost N200,000 yearly.

Multiply N200,000 by 50 years
That gives us just N10,000,000.

In Akute, Ogun state, one could get a 2 bedroom apartment at N200,000 - N300,000 annually.

In the same Akute, a plot of land sells for an average of N10,000,000!

What sense does it make to build just because you want to become a Landlord?

Many Landlords who put their houses on rent do not recover their expenses until after about 50 years. Build when you have the means, and ready to settle down as a made man. Building has never helped anyone, except those who deal on real estate.

So d cost of rent today will remain d same in 50yrs, will ur houz need ie 2 bedrooms remain d same for 50 yrs ?flawed reasoning

driand:
that sort of thinking is the reason why we are where we are today, you at what age did ur pop acquire his first house? There is time for everything, most young people at that age who have a house already could have acquired it through inheritance or parental financial background, now you want to kill yourself because you want to have a house at 28 are you an artist? Hollywood movie star? Did u become a medical doctor @21? Just tell me what you are that would make you own a good house @ 28, you fit be yahoo boy I'll give u that but please don't mislead other young ones..

I am a trader sir, I started when I was 17. I bought my first car at 21. That was in 2011. I am not a fraudster, just curious and passionate. I'm 26 now FYI

omoteamac:
which Estate

It's in Abeokuta

Chiscomax:


Please, where do u work?

Ogun state.

WebSurfer:
so, on your thoughts , only yahoo boys can do that, well, i have been staying in my house for 2 years and six months immediately i graduated from the uni, meanwhile i'll be 25 soon.. if it must interest you to know, iv never been paid any dime from overseas, nor touched a gun my whole life. dont judge people easily that way

U completed ur houz from ur honest earning at less than 23yrs in naija wen most of ur mates then r still in uni
Quite unbelievable except through inheritance

ogawisdom:


U completed ur houz from ur honest earning at less than 23yrs in naija wen most of ur mates then r still in uni
Quite unbelievable except through inheritance

thank you sir. you can continue with this thoughts

ogawisdom:


U completed ur houz from ur honest earning at less than 23yrs in naija wen most of ur mates then r still in uni
Quite unbelievable except through inheritance

well, i never said less than 23. And mind you, building takes a gradual process with time unless you are buying..



But nevertheless
thank you sir. you can continue with this thoughts

Logician:


I am a trader sir, I started when I was 17. I bought my first car at 21. That was in 2011. I am not a fraudster, just curious and passionate. I'm 26 now FYI

and to imagine, there are others like this in Onitsha .. Even if not too many, building or completed thier personal houses

WebSurfer:
thank you sir. you can continue with this thoughts

If u started frm scratch without inheriting millions/properties n u r nt a 419ner then u must b an international footballer or a davido to finish ur house at 23. Quite exceptional

Less than 50 percent of Nigerians own a house of their own in city at 45yrs. Less than 50% of Nigerians earn up to 200k per month b4 age 35.

House na house but I always have a minimum of four bedroom bungalow in mind on a full plot of land.

I have seen traders, before 30, start up simple Ultra markets, businesses worth millions. Mind you most could be inheritance. I concur. but doesnt mean all of it

mapet:



A lot of sacrifice must go into this. I believe people should tell themselves a reality of postponing comfort for a 5-10 year period. Starting early is also key. I remember I once advised my sister in law that to make her relationship worthwhile, she and fiancee should commit to house project - either build or buy.

In 2007, I gave my wife 900k to cover a summer trip. She suggested we shelve summer that year so that we can invest in a business she's had her mind on for a while. I bought the idea (making ICE BLOCKS in large quantity) and we started. We built a mini-factory from scratch. Summer was shelved for 6years. It was a rewarding experience for us....but one thing that was key, the experience I got building the factory was key both as impetus and little experience in building the one we live in today.........I will forever be grateful for the kind of wife I married. She like her grandmother believed in the concept of "tying things down" (building projects)

I am currently thinking of starting a complex next year (4 floors minimum), consisting of supermarket, restaurant and office spaces. I simply tell myself that after acquiring the land, I just need to throw a minimum of 5 million Naira at it every year and will wrap it up when I exit paid employment.

God really blessed you with a wonderful wife. Be thankful for it everyday. You rarely get such women nowadays.