pedrilo:
obviously waiting for u Vick. Will u marry me?

hahahahah send me a mail let's chat. vickychidera@gmail.com

NaijaFutbol:


My point is:
IF you earn 100k per month
And say for example, you stay in apartment of about 240k per year (say 20k per month)
You should save 20k per month as mortgage.

If you cant save 20k per month for your future apartment, you should not give your landlord 20k per month.

This not only prepares you for your future house but can sustain you with accommodation should you lose your job.

Wow..nice idea...something learnt today.#

Thanks Man

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

thank you for the mature response I a trader as well, started at 22 dat was 2006 bought my first car at 25, finished my house @30 God is good, but how many people are as fortunate as me & u? I call it fortunate cuz it's God's doing..

egopersonified:
To build or not to build, that is the question. I am at this junction now where I am trying to decide if I should develop my 'Bush' land or buy another land close to my present accommodation, I just don't know which road to take and I have started spending carelessly.

ma.. . That Bush life is no life oooooooh... Buy a piece of land close to where you presently live..

I said a piece of land... But if you have financial strength to acquire half plot or a plot, you can

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.

Thinking about your comment.....

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

Most people started school really early...i started uni at 15 and half and left when I was almost 20...so it depends on the individual involved

For me I think age 30 is appropriate ; I am considering getting a land and buying a nice tent to place for my residential ; don't know the cost.

It 4 standard bed room all in suite,library,mini studio,laundry,ante room and it located at oluyole estate Ibadan #wink


What location is this and hw many beds ?[/quote]

4 standard bed room all en suite,library,mini studio,antee room,laundry. E.t.c location oluyole estate Ibadan #wink

ollah1:



What location is this and hw many beds ?

arisekola77:
4 standard bed room all en suite,library,mini studio,antee room,laundry. E.t.c location oluyole estate Ibadan #wink

nice one bruv. can one still buy a land in that estate?

driand:
thank you for the mature response I a trader as well, started at 22 dat was 2006 bought my first car at 25, finished my house @30 God is good, but how many people are as fortunate as me & u? I call it fortunate cuz it's God's doing..

Glad to hear you guys are moving high up. What do you trade in if i may ask?
CC Logician

ollah1:


Glad to hear you guys are moving high up. What do you trade in if i may ask?
CC Logician

I import female underwear. Also I'm one of the highest supplier of ice block in Lagos. By God's grace, I will go into pig farming by year end

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.

This your analysis is quite deceitful, this a defeatist way of thinking. Even if renting a flat is 200k, you can not only pay 200k and move in. There are many hidden charges that you must also pay.

The truth is that living in your own house is far more better no matter how much it will cost you than living in a rented apartment. But in a situation whereby you can not afford to build/buy a house you can resort to renting. I have never seen any tenant who dnt wish to own a house just that all fingers are not equal. People like you are those who relocate back to the village immediately after retiring from service.

ollah1:


Glad to hear you guys are moving high up. What do you trade in if i may ask?
CC Logician

tiles and pop materials..

I have a half plot for sale in abraham adesanya estate in a developed area. You do not have to break the banks to aquire it. Any one who desires to be a landlord can come for it. I need the money to sort my rent here in Jozi.

Whts up 08036674399

Yes and it save area u can holla 08060651890

ollah1:


nice one bruv. can one still buy a land in that estate?

I'm surprised that some people here don't believe people in their 20's can legitimately own a house. I know people in their 20's that can cough out 5 - 10million without blinking. Guess what, it is salary earners that will find it hard to comprehend some levels of blessings. People do businesses and earn massively daily, weekly, and monthly.
@Topic, there's no specific age. Else, you will end up being frustrated. Most importantly, when you have the resources, you can start without wasting time. Do not be extravagant. Build a house within your means or else you will become frustrated. For instance, if you earn 1.5million anually, you don't have business building a Duplex.

mustfaith:
nice topic!
I moved into my house at age 31 or so.
big mistake!!!
I'll explain:
My former residence used to enjoy about 20 hr light.
my alternative business/shop was on the next street
with little tfare i could get to any part of Lagos
I could decide to go home at any time no matter how late and I'll get there
now:
reverse all the advatages listed above and
add the activities of jobless old witches in the community who monitor your evry move.
but right now wey things tight, I no Know wether na my relocation cause am or .....
Sha, I dey grateful somehow

Better because you left your comfort zone for something worthwhile you will be better off in the long-run.

babyfaceafrica:
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

I totally agree with you. It is this craze to own a house or becomes landlord, to oppress or the craze to let the world knows that we have arrived the gives some folks the incentives to be corrupt. In saner climes, I don't think being your own landlord is the in thing, rather, having a good abode, with the necessary facilities holds sway. What they do is pay mortgage over a period of time from your monthly income and the flat becomes yours.

I once read in Ovation magazine, way back then, that the house being occupied by Princess Diana, on Piccadilly St., London, is owned by a Nigerian, and the Queen pays the rent. In order words, even the Queen of England is a tenant.

Building a house, for me personally, is not a priority. There're other things one can invest in other than real estate. I just want to own a flat, 3bedroom Max, where me and my family will live comfortably.

Go to Unilag and see how stressed majority of her workforce are. Most of them come from ikorodu, some as far as Agbowa, claiming ikorodu, just because of " ehn, I'm living in my house..." Some of them are down with stroke. A lady in my office that lives in ikorodu leaves nothing later than 4:30am, all because of cheaper rent. And she leaves the office by 2 or 3 pm sometimes and gets home by 6 or 7.

mbhs139:


I totally agree with you. It is this craze to own a house or becomes landlord, to oppress or the craze to let the world knows that we have arrived the gives some folks the incentives to be corrupt. In saner climes, I don't think being your own landlord is the in thing, rather, having a good abode, with the necessary facilities holds sway. What they do is pay mortgage over a period of time from your monthly income and the flat becomes yours.

I once read in Ovation magazine, way back then, that the house being occupied by Princess Diana, on Piccadilly St., London, is owned by a Nigerian, and the Queen pays the rent. In order words, even the Queen of England is a tenant.

Building a house, for me personally, is not a priority. There're other things one can invest in other than real estate. I just want to own a flat, 3bedroom Max, where me and my family will live comfortably.

Go to Unilag and see how stressed majority of her workforce are. Most of them come from ikorodu, some as far as Agbowa, claiming ikorodu, just because of " ehn, I'm living in my house..." Some of them are down with stroke. A lady in my office that lives in ikorodu leaves nothing later than 4:30am, all because of cheaper rent. And she leaves the office by 2 or 3 pm sometimes and gets home by 6 or 7.

Well, that is Lagos. We all know Lagos is overpopulated. This hectic work condition doesn't apply to some other parts of Nigeria. If one has a legitimate means of income, there's nothing bad in building early. My boss for example built a Duplex worth over 20million some years back. He was in his early 30's then. He won a couple of contracts then.. Some other people may get similar opportunity in their 60's. The most important thing is never to waste any opportunity to build when you have it. Especially at a very young age, if one is privileged.

Logician:

I'm 26 and I have a house

Logician:

I'm 26 and I have a house

http://homesandlands.com.ng/homes-and-lands-magazine-april-2016-2nd-edition/

https://www.nairaland.com/3068569/interesting-see-how-many-new

We cannot deny the fact that housing is a major problem in Nigeria. Although the new government have plans to carry out some developments, the question is will these project produce top quality development like the private real estate companies?

My Questions are:
1. Can the government alone provide the number of structures needed to solve the housing problems?
2. If not, Can the government regulate property valuation to help reduce the cost of owning a home?
3. In your own opinion, What should the government do as regards the cost of rent and home buying in Lagos and Abuja, particularly Abuja?
4.What should the value of a house be based on?

Click here the link below to read this digital magazine that showcases new homes and publishes articles about the problems faced by the Nigerian real estate.

People come come far places cos that's where the can afford. The problem is no good road network in Nigeria that's y ppl will wake at 2 or 3am as u so claim to get ready for work. Joe Biden is the Vice President of US. He takes the train daily from Delaware to DC for work The distance is about 1-1and a half hours ride. If one can afford or has the opportunity to build do so. Lekki is not what it used to be. Land always do appreciate just give it time. So if you find an opportunity to acquire a good one please do so.

mbhs139:


I totally agree with you. It is this craze to own a house or becomes landlord, to oppress or the craze to let the world knows that we have arrived the gives some folks the incentives to be corrupt. In saner climes, I don't think being your own landlord is the in thing, rather, having a good abode, with the necessary facilities holds sway. What they do is pay mortgage over a period of time from your monthly income and the flat becomes yours.

I once read in Ovation magazine, way back then, that the house being occupied by Princess Diana, on Piccadilly St., London, is owned by a Nigerian, and the Queen pays the rent. In order words, even the Queen of England is a tenant.

Building a house, for me personally, is not a priority. There're other things one can invest in other than real estate. I just want to own a flat, 3bedroom Max, where me and my family will live comfortably.

Go to Unilag and see how stressed majority of her workforce are. Most of them come from ikorodu, some as far as Agbowa, claiming ikorodu, just because of " ehn, I'm living in my house..." Some of them are down with stroke. A lady in my office that lives in ikorodu leaves nothing later than 4:30am, all because of cheaper rent. And she leaves the office by 2 or 3 pm sometimes and gets home by 6 or 7.

bbulldog:
if not for the help of fraud, internet fraud, or dasuki type of money.... A mid 20 guy building a house. Shame on Nigeria, yahoo business is now kinda eligible... God help us all

I think you should go have a look at teenagers buying mansions worth millions of dollars in the USA...

SammieJayh:


I think you should go have a look at teenagers buying mansions worth millions of dollars in the USA...

I am disputing eligible work in the US, its only if you want to deny the fact that internet fraud in Nigeria is now like a way of living. Even guys are getting married with yahoo-yahoo business.

Topic is still as relevant as ever.

MrMcJay:
Topic is still as relevant as ever.

like very relevant