Friends,

If you are currently paying above 500k as rent, you ought to be living in your own house!

Knowledge is said to be power; but wisdom is the force that makes you apply knowledge! While some may know how to go about accessing some of the schemes that can give them a house over their head but are just too reluctant to try, some others simply do not have this information.

This topic is about to share with you, simple steps and facts on how to get a house of your own with very tight budget.

Remember, as long as you are a Nigerian, until you have a house of your own; housing costs will continue bother you for the rest of your life! This is a fact!

So if you are about getting a new house, say a flat or bigger apartment that cost about 500k or more, then you need to think twice and weigh your options critically before venturing.

GETTING A LAND

Perhaps, the trickiest part to owing your own home is accessing or getting a land of your own. "omo-onile" issues, estate agents selling lands that they dont have documentations for or expensive lands that you cannot simply afford are some of the issues with getting landed property in Lagos and Nigeria in general. However, for every venture, there are tricks and facts, face the facts and learn the tricks and you will find out it is actually easier than you thought.

First issue is finance. To address or access finance for buying a land is simple. Most organisations where you work can afford you loans, even if they dont, there are cooperative that can, and if there are none, there are lenders such as RenMoney and co. It is wise to loan money to buy an asset rather than loan money to buy liabilities such as pay rent or buy a car. Land will always appreciate in value and regardless of how much interests you have to pay on the loan acquired, it wont compare to the value of the land in 5years.

Second question, is it right to buy from omo-onile i.e. family lands or from agents (estate agents)? Let's just say that there are certain documents (title) a land must have e.g. (Certificate of Occupancy, Governors Consent, Excision, Deeds of Assignment), make your personal findings on any land you wish to purchase thoroughly. T[b]he best option is to take a surveyor to the proposed land to take the co-ordinates of the land, check with land survey in Alausa to be sure the properties corresponds with the paper given to you. Choice of which to go with is dependent on the type of tile given.[/b]

Also, always note that "initial law" protects the occupier. What do i mean by that? When there is a land dispute and the matter is reported to the police, the police are obligated to protect the first occupier. To reclaim or re-posses the land however, the complainant will then need a competent court of law to make a pronouncement. Which means, you can pursue a land case from high court up to Supreme court before you can re-posses a lost land.

So, to be in the advantage always, when you purchase a land, do not hesitate to erect something on it. The general concept is OCCUPY!

SO WHY PAY RENT OF 500K WHEN YOU CAN LIVE IN YOUR OWN HOUSE?

Have you heard of National Housing Fund? Some of you have and some have not; however it is real and it works! Rather than paying rent of 500k to your landlord, you can obtain Zero (0) to 6% interest loan from the government and build a house, service the loan with the money you ought to have paid as your rent. And you know what is more beautiful, you can pay it for the rest of your working years!

BENEFIT OF NATIONAL HOUSING FUND (NHF)
1. Housing loan of up to 90% of the cost of the house.
2. Interest on loans remains fixed throughout the life of the mortgage at 6% p.a.
3. Long period of repayment of up to 30 years.
4. Contributions can serve as additional old age security.
5. Up to N15 million can be borrowed.
6. Refunds with 2% interest on retirement.
7. Loan repayment is about the same as a typical monthly rent.
8. Every contributor has a lifetime registration number and an NHF e-Card which replaces the NHF passbook. The e-Card gives contributors access to their NHF account records on any electronic outlet such as ATM, POS, and Internet. You can thereafter view and print your NHF statement of account whenever desired.

So what are you waiting for? Contact me for more information on lands and how to access your NHF.

COMMON DRAW - BACKS

Location is too far!
Nobody is living there yet!
When will this place ever develop!
I need to live close to where i work!
My friends cant visit me in such a far place!

These are some of the many lame excuses why people dont buy lands. Remember how Ajah used to be very far some 7 years ago. Alas, Ajah is heaven now, people now live in Lakowe and even Ibeju Lekki.

Mile 2, Ikorodu and Abule Egba, Ibafo and Mowe were no go areas 15 years ago, but these places are beehive of activities as we speak!

More recently is Badagry that was almost a ghost town 5years ago has now turned a full fledged city.

The truth is land will always appreciate in value! So do not deceive yourself with realities of today! Think back to all the cities you have missed investing in and how you have always wanted to live in a more comfortable place but yet do not have a house of your own. In all these years, your mechanic has built his house in Sango, your gateman has a small house in Adamawa, your cleaner and husband lives in their own house in Iyana Ipaja but not you, it is too far.

I will tell you a secret! Even if you feel what your money can buy now is where you cannot live, still go ahead and buy it. It is wise to build and let it out, use the rent money to pay for a more comfortable place of living for you rather than not to buy at all.

So make up your mind today! Get the house of your dream! It starts with a desire, then a decision!

Contact me for information on choice properties in and around Nigeria.

zillonnair:
Friends,

If you are currently paying above 500k as rent, you ought to be living in your own house!

Knowledge is said to be power; but wisdom is the force that makes you apply knowledge! While some may know how to go about accessing some of the schemes that can give them a house over their head but are just too reluctant to try, some others simply do not have this information.

This topic is about to share with you, simple steps and facts on how to get a house of your own with very tight budget.

Remember, as long as you are a Nigerian, until you have a house of your own; housing costs will continue bother you for the rest of your life! This is a fact!

So if you are about getting a new house, say a flat or bigger apartment that cost about 500k or more, then you need to think twice and weigh your options critically before venturing.

GETTING A LAND

Perhaps, the trickiest part to owing your own home is accessing or getting a land of your own. "omo-onile" issues, estate agents selling lands that they dont have documentations for or expensive lands that you cannot simply afford are some of the issues with getting landed property in Lagos and Nigeria in general. However, for every venture, there are tricks and facts, face the facts and learn the tricks and you will find out it is actually easier than you thought.

First issue is finance. To address or access finance for buying a land is simple. Most organisations where you work can afford you loans, even if they dont, there are cooperative that can, and if there are none, there are lenders such as RenMoney and co. It is wise to loan money to buy an asset rather than loan money to buy liabilities such as pay rent or buy a car. Land will always appreciate in value and regardless of how much interests you have to pay on the loan acquired, it wont compare to the value of the land in 5years.

Second question, is it right to buy from omo-onile i.e. family lands or from agents (estate agents)? Let's just say that there are certain documents (title) a land must have e.g. (Certificate of Occupancy, Governors Consent, Excision, Deeds of Assignment), make your personal findings on any land you wish to purchase thoroughly. T[b]he best option is to take a surveyor to the proposed land to take the co-ordinates of the land, check with land survey in Alausa to be sure the properties corresponds with the paper given to you. Choice of which to go with is dependent on the type of tile given.[/b]

Also, always note that "initial law" protects the occupier. What do i mean by that? When there is a land dispute and the matter is reported to the police, the police are obligated to protect the first occupier. To reclaim or re-posses the land however, the complainant will then need a competent court of law to make a pronouncement. Which means, you can pursue a land case from high court up to Supreme court before you can re-posses a lost land.

So, to be in the advantage always, when you purchase a land, do not hesitate to erect something on it. The general concept is OCCUPY!

People stay in rented apartments for various reasons.

Let me throw you these simple questions and give your advice.

1. You were working in Lagos and maybe you have built your house and your family lives there. You get posted to Abuja where you have to pay rent for accommodation worth way over that 500K you talk about. You may also be reposted back to Lagos or elsewhere any time. What is your advice.

2. You have built a house in a remote part of Lagos and you get this New job at the center of Lagos. You stand a risk of getting to work late, arriving with sleepy eyes (having to leave home at 4am), spending a lot on transportation or fuelling your car to and from work everyday. Add to this the traffic stress. Now is it adviceable to go through all these wahala or paying 500K per annum at a location close to your work especially if pay attached to the job makes you easily afford it?


My brother it is not every one that would want to build where they are working.

500k rent paid over 20years is N10M. if you factor in average annual increase you can't pay more than 12-13million in your entire working career of say 20years in that City.

To build a befitting house in a good location (cost of land inclusive) may cost you 20-50 million. Good for you if you chose to retire there. But for those that have other plans on where to retire, bad move.

Eg can you as a Yoruba man work, live, build and retire in Enugu?


Look at things wholistically bro.