Many trends are ongoing, people keep wondering about Cost of building a House due to present economy situations. Many still don't get the exact respond needed, but in this trend, we would enumerate vividly over the issue, Just stay with us and keep reading.

How much will you have to spend to build a house in Nigeria? This question does not have any straight answer.

The answer depends on so many factors.

For one, where is the location where you want to build the house? Also, which type of house do you want to build? Do you plan to build just a room, a room self-contain, a “boys-quarter” with two to three rooms fitted with bathroom and toilet, a 2-bedroom flat, a 3-bedroom flat, a block of flats or a duplex?

These factors are the major ones that determine how much you end up spending to build a house in Nigeria

Aside from the factors mentioned above, the engineers, the building technologists, the bricklayers, the architects and other people that are employed for the building project also determine how much you end up spending to build a house in Nigeria.

How much is the service provider willing to collect from you? Are they ready to give you discount on the cost? How many of these professionals do you want to employ to get the house constructed? The factors also determine how much you end up spending to build a house in Nigeria.

Do not also forget that prices of building materials are increasing by the day. As a result, one may not be able to accurately state particular amount that will be required to complete the building. Prices of these building materials differ from one part of the country to another. This is one fact you must put into consideration before you start the building project.

Source: http://vastfinder..com/2017/01/cost-of-building-house-in-nigeria.html

The current cost of building a house in Nigeria is up by about 45% to 55% compared to 2014.
Iron Rods have increased by over a 100%
Cement by like 40%
Blocks 25%
Sand and gravels 25%.

Thanks to APC's mismanagement of the recession.

H

Ok

i need such info too

OP please don't tell me that this is all cause I will be so so disappointed

Can 2.5 million build a moderate house for me?

What one intends to build and that person's pocket is a major determinant.. So at the end of the day it all boils down to "cutting one's coat according to the material available".

Thanks to GEJ for throwing the country's vault opened for people to steal as they want, just like the dude who had almost $10M in his house.... Do you know how many more of such people are still walking free??

Nutase:
The current cost of building a house in Nigeria is up by about 45% compared to 2014.
Iron Rods have increased by over a 100%
Cement by like 40%
Blocks 25%
Sand and gravels 25%.

Thanks to APC's mismanagement of the recession.

I find the cost of real estate in Nigeria funny.

NaLaugh:
I find the cost of real estate in Nigeria funny.

Why? Can you explain?

After all the analysis, where is the conclusion?
The important question now is how much does renting cost today? Because if there is no increase in rent, there is no need to invest more on property and building considering the fact that all building materials has doubled in price?

k

efilefun:
Thanks to GEJ for throwing the country's vault opened for people to steal as they want, just like the dude who had almost $10M in his house.... Do you know how many more of such people are still walking free??

After 2 years, you're still blaming the past government. It shows how much a failure the government is and how the supporters pride in the failure.

hopeforcharles:
Can 2.5 million build a moderate house for me?

a moderate foundation perhaps!


I used 3.8 million 2 make a solid foundation,..powerful chains and high dpc

Dollar will fall, finally I will biuld my dream house

eleojo23:

Why? Can you explain?

The value isn't hedged on any structured market, so it balloons out of shape.
Grossly overvalued.

There is no reason why a run-down building in some semi-slum in Lagos should cost more than a new one in Atlanta. None.
However, that is the case.

Blaming after 2 years... so the money recovered from Yakubu should be forgotten also or do you know how many more of such is still outside? Face reality the country was on the verge of total collapse, even Okonjo raised alarm. The past will always and definitely affect the future.

marsoden:


After 2 years, you're still blaming the past government. It shows how much a failure the government is and how the supporters pride in the failure.

This Op, are you okay? Your topic implied you were going to provide an estimate of the average cost of building...that's why I opened the thread. Mcthew.

mightyhazell:
a moderate foundation perhaps!


I used 3.8 million 2 make a solid foundation with. High dpc tho

u came into conclusion without asking the kind of land he has and the location.

Congratulations for wasting 3.8m on mere foundation.
3.8m will pack me in to a 4 bedroom flat leaving few maintenance for me on a dry land

Stop discouraging ppl when it comes to building house.

quiverfull:
This Op, are you okay? Your topic implied you were going to provide an estimate of the average cost of building...that's why I opened the thread. Mcthew.

no meaning for the thread

The cost of building a house is dependent on many factors which are;

Location: The location @ which your building will be sited is the major determinant of the building cost. If the land is swampy i.e. Lekki, Festac Town the cost of constructing a foundation will be greatly affected, Raft or pile foundation will be applied in this case. But where you've a hard or dry land i.e. Abuja, Jos the cost of construction is less.

Type of Building: What type/kind of building are you opting for? Most good things in life are expensive. If you opt for an exclusive and beautiful house design, you'll discover that even from the architect's desk your bill is already high. Furthermore, Commercial and Public buildings such as markets and hospitals are more expensive to construct compared to residential buildings. Although this may not apply in all cases.

Cost of Labour: Whichever way you wish to classify them, Skilled(carpenters, bricklayers), Unskilled(site security)and Professional(builders, architects, and Civil Engineers) are all labourers. The cost of labour differs from place to place. However, labour is mobile. You can decide to move cheap labour to your site using cheap pricing mechanism.

Cost of Building Materials: This is directly proportional to the cost of building. When cost of material increases, cost of erecting a building also increases.
Cement sold for #1200 in 2015 was sold for #2400 in 2016....Say you needed 100bags as at 2015 and you postponed the project to 2016. Guess what? In 2016 you'll have to buy 100bags for #240000 instead of #120000.

Time of building: The season of the year which you decide to embark on your building project will affect your building cost. Raining seasons are more expensive to build. Poor weather forecasting can lead to waste of materials.

There are many more factors which are not listed here such as Building approval, logistics, e.t.c
Please ignore all grammatical errors. I'm currently on a building site for a client from Nairaland.

Engr. Daniel
Terrastone Shelters(07037629947)

NaLaugh:


The value isn't hedged on any structured market, so it balloons out of shape.
Grossly overvalued.

There is no reason why a run-down building in some semi-slum in Lagos should cost more than a new one in Atlanta. None.
However, that is the case.

Abuja is a typical example...
Overvalued buildings everywhere.

Nutase:
The current cost of building a house in Nigeria is up by about 45% to 55% compared to 2014.
Iron Rods have increased by over a 100%
Cement by like 40%
Blocks 25%
Sand and gravels 25%.

Thanks to APC's mismanagement of the recession.

After all these increments, what about the rent? Is there any difference in price? We need to stop building to make the new price of rent reflect the new price of building material.

mightyhazell:
a moderate foundation perhaps!


I used 3.8 million 2 make a solid foundation with. High dpc tho

Please what is dpc,
Impressive you achieved the feat with 3.8 million.
Edited u mean just for foundation am i crazy. Its super much na. It can build a house na i was thinking you built a solid structure.