We are planning a birthday gift for our daughter.

I am of the opinion that we should buy her a plot of land, but my wife is of the opinion that we should do fix deposit for her. This will be her first birthday.

Please I need your opinion. Thanks

do fixed deposit for her, and give me the land as a thank you for advicing u

amtheone:
We are planning a birthday gift for our daughter.

I am of the opinion that we should buy her a plot of land, but my wife is of the opinion that we should do fix deposit for her. This will be her first birthday.

Please I need your opinion. Thanks

One year don reash already?
I trust she's looking cuter by the day
ehen, as per question-any of the above is cool! Maybe a deposit might be better sha cos you wouldn't have to start taking plenty plenty things into consideration e.g. location, what happens years down the line etc etc!

My point is one plot of land fit get small small wahala for side but deposit would keep yielding interest till angel is ready! And who knows? You might decide to keep adding in subsequent years!

happy birthday in advance to her!

I prefer the fixed deposit. If you intend buying a plot of land, it has to be a meaningful plot. Not all those plots in bushes and agents deceiving you of development potentials.

alutacontinua:


One year don reash already?
I trust she's looking cuter by the day
ehen, as per question-any of the above is cool! Maybe a deposit might be better sha cos you wouldn't have to start taking plenty plenty things into consideration e.g. location, what happens years down the line etc etc!

My point is one plot of land fit get small small wahala for side but deposit would keep yielding interest till angel is ready! And who knows? You might decide to keep adding in subsequent years!

happy birthday in advance to her!

Yes ohhhhh one year is almost here. Thnks for ur contribution. For d regards, I will tell her.

nikkyshyne:
I prefer the fixed deposit. If you intend buying a plot of land, it has to be a meaningful plot. Not all those plots in bushes and agents deceiving you of development potentials.

Niky, the plot will be meaningful if we finally settle for land and it will be within an estate. Thanks for ur input

aluta has said it

people have lands and houses these days just lyingfallow as their pikin no even send because they cant be bothered from their own lives.

Invest in the deposit for now and if possible, some form of educational insurance product

Consistency is the key

It is easier to save 20,000 monthly over a 5 year period than to open a fixed deposit of 1.2m immediately

Same amount

pickabeau1:
aluta has said it

people have lands and houses these days just lyingfallow as their pikin no even send because they cant be bothered from their own lives.

Invest in the deposit for now and if possible, some form of educational insurance product

Consistency is the key

It is easier to save 20,000 monthly over a 5 year period than to open a fixed deposit of 1.2m immediately

Same amount

Hmmmmm. I have to think about this seriously. I was thinking that the land is better because of the fact it will appreciate to a large extent over time.

I need more inputs. Thanks

amtheone:


Hmmmmm. I have to think about this seriously. I was thinking that the land is better because of the fact it will appreciate to a large extent over time.

I need more inputs. Thanks

Yes .. good land appreciates wella

Just buy it in you and your spouse name
Put child as next of kin

A land that will be fallow for so many years.. legal hoops, name change etc, hmmm...well..... what works for you

I like d idea of a plot of land in a meaningful area. As long as d land remains Urs, it is always good for something.
.
However, one has to be careful with buying a land. Don't want one day some government or organization decides to buy the whole area.
.
Money is not lost in a fixed deposit. And it is always accessible.
U can have a Chess account (a childrens account) and fix d money from that account such that the interest goes back into the account dedicated to that child.
.
U should choose that which seems secure to U and Ur wife.

pickabeau1:




Yes .. good land appreciates wella

Just buy it in you and your spouse name
Put child as next of kin

A land that will be fallow for so many years.. legal hoops, name change etc, hmmm...well..... what works for you

I want it to be in her name cos she is already an heir to some stuff

amtheone:


I want it to be in her name cos she is already an heir to some stuff

Your call bro

There's someone in the Real Estate section who divulges a lot of the potential benefits and dangers about buying land. I am of the opinion that an investment in real estate is always a good idea, but knowing what you are investing is always better than throwing money away at a land that may not be yours in 20-30 years, aka when the child can put the land to good use.

On the other hand a deposit is also a good idea, but I'd say putting that money into a investment account is always smart. Something stable that will accrue value as time goes by is better than just putting money into an account. I am not too sure about banking practices in your country, but whatever you put your money into, consider that it must be protected and insured in case the bank in question fails. For example, in Canada where I am from, deposits up to $100,000 CAD are insured by the federal government, meaning that whatever may happen to the bank in question, your money is protected. I would suggest your consider talking to a licensed, experienced and referred Financial advisor, they will be able to advise you of the many, many investment products that you can choose from.

My 2 cents...

IMO.Go for land.You can develop it gradually.Like building blocks of flats for renting in her name.The house rent realised will then be saved in her name..