EZEIGBO1OFIMO:
people who are shouting land up and down probably know nothing about investment, except you own a land already, Buying a land in Nigeria and hoping for accidental development to shoot property prices is a risky gamble with odds that are not as great as they used to be. Buy a reliable car at sensible cost and look for other ways you can invest your cash ; there are mutual funds, T.Bills and Bonds for conservative investors, then there's the stock market(global, not naija ooh), leveraged markets, futures and ETF, for the wild child. Don't buy a land hoping to cash out, the recession is biting hard, and inflation coupled with currency value may put your PE at 2 decades or more, that is if Nigeria even gets better.
cc- Praxisnetworks

NwaAmaikpe:


Na wa,


A car is more important, nobody ordinarily will give you one if you can't afford it.


But even if you don't have a land or can't afford one; there'd always be land to bury you in

haibe:


You would have spent money on transportation anyway, whether you bought a car or not. So consider this portion a commitment cost and therefore an irrelevant cost in determining whether or not buying the car is worthwhile.

There are several benefits of owning your car that you cannot quantify.. If you had to catch up with public transport everyday you may have lost your job or business by now or they may just be ineffective due to poor timeliness. U may be robbed easily of your valuables because u dont have a car, rain may frustrate you.... Just think broadly about advantages and disadvantages before drawing your conclusion.

AntiWailer:


So without the car u won't spend 1 naira moving around and the 45million go dey ur account ?

You did not calculate how many times you for don enter 1 chance during those times ?

Also you need to replace your calculator. Where u see 45 million ? No wonder you were in shock.

Ur calculation should be less than 4million.


1500 * 365 * 7 = 3,832,500.

Recalculate for the value of land too

HRH4REAL:
Guy buy land..forget dis lagos life of car first to show off. Land will do u more good. U can buy car anytime.

I missed buying a land somewhere in lagos for about 2M, now few available land dia go for about 8-10M.

Imagine if I bought one plot then and sold half plot now I will buy dat same car, even better grade.

Telling u from experience....Times are hard. Use ur head because u will see many Tins here on NL.

praxisnetworks:

Kia? No. I have opportunity for either an A4 or a Sienna... Or previa all in topgrade situations.

praxisnetworks:
Advices are needed... Egunmogaji.. and co

originally:
I was in situation like this last year.I bought a land,this year I'm planning for a car

diggz:



Oga pls collect sienna.

Sylva2147:
I think getting a car will be far better because to me car is a necessity, but you can get your own land when ever you are balance financially. I have a friend whom we were opportune to make some money in 2008 and he used his money to buy a land while I used mine to buy a car and all the while he is the one disturbing me for assistance with my car, may his soul rest in peace he did not even live to build anything on the so called land. I can rent an apartment for twenty years and the house will be addressed as my house while I go about my normal activities pending when I will be buoyant enough to get a land and start building my own house. my opinion though.

praxisnetworks:

A million for the previa

bigtt76:
I spend 600 naira daily on transportation to work. This translates to N3000 per week or N12000 per month. A car owner would spend more on fuel and wear and tear due to the traffic situation in Lagos for example.

Getting a car would only increase my financial stress but may come handy in other aspect if I'm a business person (deliveries etc). I would get a car if it helps my business and is not a luxurious one.

On the other hand, I rent a self contained apartment for 350k a year, getting a land would set me back financially at least N900k. How do I start building and the rest if I'm a salary earner? Agreed the value appreciates but when it appreciates and no buyer, it becomes a locked down asset. Mind you you still have to pay ground rents and live in fear of it not revoked or sold without your knowledge or permission.

My take here is go with your current situation and see which pays you most.

speedyconnect3:


350k on a studio flat and still pay 600 to work? What could be the distance?

sheylarhh:
One is an asset while other is a liability...so choose wisely

Femsyn:
People screaming land up and down are not wrong, because that is what economics and their fore fathers taught them irrespective of the situation.

Let me tell you.. If you don't have enough money to at least buy a land and raise to window level immediately, I say you put your money elsewhere. Cos, you don't want to see a full plot reduced to a half plot, or relocated elsewhere, because people with common sense and more money have re-bought your land.

If you run a business that thrives on standard or contracts, get a car first. If you have a family, get a car.

A car is as important as land, if you can afford both, then get both. That's the best advice I can give you. But overall, it all depends on what's more pressing.

Get this out of your mind, getting a car is not of less importance than land. Get that straight first.

joinnow:
Buy half plot and half car

bigtt76:
Location is at Ajah and I work in Lekki Phase one. The N600 transport fare is to and from work.