Adufetooposh:
Instead of being a tenant, i will rather be a landlord.

dake40:


African mentality

Adufetooposh:
Instead of being a tenant, i will rather be a landlord.

Starzdavid247:
When u grew old, then u will know the importance of owning a home. Oga keep your economics analysis to yourself.

shehuolayinka:
A



You can rent a good home for N1.5m and still have N3.3m left over. Your house is costing you N3.3m per year. Do the math.

NairalandAngel:


This does not apply here in Nigeria

dake40:


Read the post again. And this time, be more careful...


Don’t buy a house unless:

1. Mortgage is < 8%,

2. You can pay cash,

3. You plan to live in it for 10 years,

THANK YOU SIR. IT MAKE SENSE AND WILL APPLY.
At a grown age, you know the time has come to have your property (though still optional), and during this time, you would have have enough to buy a home (with latest design)

The issue with Africans is LANDLORD mentality which is very wrong... For young hustlers, dont build/buy a house you know you wont live in for years when you can rent 1 and reinvest the remaining funds in good investments..

charliboy654:
This guy na mumu o, so the house you rent, is it some someone else house.

charliboy654:
This guy na mumu o, so the house you rent, is it some someone else house.

charliboy654:
This guy na mumu o, so the house you rent, is it some someone else house.

shehuolayinka:
A Nigerian United Kingdom based Oxford-educated entrepreneur with business interests in technology and advertising,
Dr. Tayo Oyedeji says home ownership is mostly a bad investment.

He said this in a series of tweets on his official and verified twitter handle, stating that home purchase for living is a bad investment.

Renting is wiser for most people. Don’t buy a house unless: 1. Mortgage is < 8%, 2. You can pay cash, 3. You plan to live in it for 10 years, 4. You need the psychological comfort of home ownership.

Rental/investment property is great. Home ownership is mostly a bad investment.

I’ll share the math on home ownership sometime next week. The home you live in is your worst investment. For some of us, it’s not even an investment. Don’t buy the hype, do the math. Home purchase for living is a bad investment.

Rental property is a great investment. Do the math. An average property in Lagos is N40m. Treasury bill rate is about 12%. Your N40m will yield N4.8m a year.

You can rent a good home for N1.5m and still have N3.3m left over. Your house is costing you N3.3m per year. Do the math.

Psychological comfort, societal expectations, and cultural norms are valid reasons for home ownership.

But when it comes down to the math: it just doesn’t work. I own a couple of homes for the reasons stated above. They’re not good investment.

https://thebelltimesng.com/2019/11/14/hom

e-ownership-is-mostly-a-bad-investment-says-expert/

Starzdavid247:
When u grew old, then u will know the importance of owning a home. Oga keep your economics analysis to yourself.

fsgbeats:


Nice but on the long run , buying a property in Lagos @40m will definitely appreciate to more than 50m in 3years or less. Property is the best investment to me..land never depreciates but appreciates in value. Also when you buy a property its yours for life and your generations to come.Lagos has a high space to value ratio but its still not compared to newyork which is the most expensive globally

cue64:
In a saner clime this guy is right to an extent

charliboy654:
This guy na mumu o, so the house you rent, is it some someone else house.

Realfrankie:
Mumu talk

Starzdavid247:
When u grew old, then u will know the importance of owning a home. Oga keep your economics analysis to yourself.

onatisi:

he is more than correct , but many wont take time to do the maths and understand what he is saying . blacks are bandwagon people , once someone is doing something we all want to do the same thing.
i sometimes marvel when i see ppl rushing to build personally houses but yet they are suffering and income isnt much . the problem is a societal one as having a house of ones own and according to ppl even if it is just a room is seen as accomplishment and sign of success

drlaykay:
I tell people this a lot and they actually think I'm saying nonsense.
Build your house after you have solidified your business.
This is why an uneducated yoruba man doesn't do well as much as an uneducated igbo man.
Most people get to see little money from their business and rush to get a land. The business isn't solid enough yet but instead of reinvesting the profit in order to improve the business they go buy a lands.
Every little profit from the business which is still of a low scale, will be used in financing the building. Because the profit is low, they end up spending part of their capital in addition to the profit in order to fast track the building which is overdue.this act make the business die and they become poor landlords
On the other hand, their igbo counterpart who are also into small scale business, reinvest such funds into the business.
The business grows and they build a more powerful structure in a decent location within a short time.


Before your crucify me, I have live examples and I am proudly yoruba