Ok Nairalanders,i need ur advice,as someone living abroad and spends 85 to 90% of her time overseas,which is obviously where i call my home,if i decide to purshase my first house which country do u think i should consider first? Nigeria or abroad where i made my permanent base? after being dumped ones by a family member whom i trusted would help me build and surpervise my house last year.

if ur in my shoes would u still go ahead and start building a new house urself or buy first where u base ? we should consider that buying or building a house in Nigeria is alot of headache,419ers, difficulties controlling what ur contractor ,builder or family member is doing with the money u sent to them ,some family members using ur money for themselives and decieving u that they are building a house for u and at the end u loss everything ,some using juju on someone cos of land ,family member overtaking ur property if anything happens to u and then ur wife and kids or husband  will be left with nothing etc


And abroad where everything is legal,geniue ,secured and less or no stress,if u had the money to buy a house after being dumped once would it be wise for someone  to still go ahead and build a new house in Nigeria ? i mean u dont want to keep paying rent for the rest of ur life abraod , if u had the money to purshase a house abroad right? someone can always get something in nigeria later in the future. when ur sure that no matter what happens u already have ur home abroad and i only visit nigeria ones a year or even ones every 2 yrs depending on how busy i am,so i wont even spend much time in the Nigeria house.
your option is needed and will be appreciated.
thanks

I'll built in Nigeria first at least when you finish building a house in Nigeria, the house is yours. In US houses are cheap now but the house is never yours till you finish paying that 30 year mortgage I'm sure you know where I'm going with that miss two payments and the house is gone.

i understand that but what if someone is buying free of mortage or very little mortgage to pay monthly? the person wont have that much problem about the property being taken.

we had this discussion many years ago (hubby and I) and I won hands down
We bought a house in the USA where we spend most of our time before building one at home in Naija
That makes the most sense

**osisi:

we had this discussion many years ago (hubby and I) and I won hands down
We bought a house in the USA where we spend most of our time before building one at home in Naija
That makes the most sense

now u understand what i mean cos alot of nigerians dont reason that way and they are trying to brain wash me on buying first in nigeria before abroad im very confused right now ,as i also thought buying a house abroad first make´s more sense cos we spend more time there,Nairalanders what do u all think as more opinion will help me determine where to buy first.

If you spend 80-90% of your time outside nigeria (whereever that is), it is only logical that you buy the house there. Thereafter, you can build in Nigeria but be aware so that you are not swindled.

Depends on the capital at your disposal, your income level and whether you are buying jointly with a partner or are married with children. If you can buy outright abroad, do so as that is where you spend most of your time and thats where your family (your wife and children) are resident. If you have to mortgage on a low deposit and facing 30 year repayment period - do so knowing the house may never be yours. And remember the longer the time horizon the greater the risk of so many unwanted/unplanned events taking place, which could jeopardise the ultimate ownership of the house e.g  loss of income/job, business failure, illness,divorce, seperation, the list is endless.
Buy or build a house in Nigeria (yours for life from day one!) at a very good location with good rental yield and let the house generate some income. That Naira income can be put to another income generating activity. You can then launch your diasporan income at the relentless diaporian mortgage.
This requires careful thinking. If you intend to build a 'show-off' house which you will lock up, without income generating capacity of any sort then you might as well go for the mortgage now and go for a repayment period much lower than 30 years say 15 - 20 years if affordable. There are just too many factors and variables to consider. A house is a house but a mortgaged house is not yours until the corresponding debts are discharged. Goodluck!!

ibedun:

Depends on the capital at your disposal, your income level and whether you are buying jointly with a partner or are married with children. If you can buy outright abroad, do so as that is where you spend most of your time and thats where your family (your wife and children) are resident. If you have to mortgage on a low deposit and facing 30 year repayment period - do so knowing the house may never be yours. And remember the longer the time horizon the greater the risk of so many unwanted/unplanned events taking place, which could jeopardise the ultimate ownership of the house e.g loss of income/job, business failure, illness,divorce, seperation, the list is endless.
Buy or build a house in Nigeria (yours for life from day one!) at a very good location with good rental yield and let the house generate some income. That Naira income can be put to another income generating activity. You can then launch your diasporan income at the relentless diaporian mortgage.
This requires careful thinking. If you intend to build a 'show-off' house which you will lock up, without income generating capacity of any sort then you might as well go for the mortgage now and go for a repayment period much lower than 30 years say 15 - 20 years if affordable. There are just too many factors and variables to consider. A house is a house but a mortgaged house is not yours until the corresponding debts are discharged. Goodluck!!

thats also a wise advice,thanks for ur reply,i personally wouldnt want a show off house in nigeria,i prefer a house i can rent part of it and as well have a hoilday place to stay whenever i visit nigeria with my family,¨that will also helps to have someone take care of the house when im away.

I think it all depends on what matters to you.
There are some Nigerians that lives in Abroad in poor states and all that, these are people that spent 85% of their lives in abroad, living in some shacks and messed up apartments and build a huge mansion in Nigeria, now tell me who is living in the mansion they have built in Nigeria while they are in abroad 85% of their lives, i will say the house boys and girls and the gardner, while they live like househelps themselves abroad.

Now if you build the house for buz, say you rent it out to be making money and be using that money to buy yourself a house abroad, cos with good credit, it is easy to that in abroad, then, that makes more sense to me.

Also, you could buy a house abroad, but while the economy and the housing market is booming oh, and after 2 years take out some equity and build a rentable home in nigeria and once you done with the building, rent it out and bring back what you made from it to invest in other stuff.
Now these makes more sense to me.

But i think it is ridiculous when Nigerians lives in rags in abroad all because, they wanna go back to Nigeria to impress some people that dont even give a hoot about them.

This is just my own one cent

Fhemmmy:

I think it all depends on what matters to you.
There are some Nigerians that lives in Abroad in poor states and all that, these are people that spent 85% of their lives in abroad, living in some shacks and messed up apartments and build a huge mansion in Nigeria, now tell me who is living in the mansion they have built in Nigeria while they are in abroad 85% of their lives, i will say the house boys and girls and the gardner, while they live like househelps themselves abroad.

Now if you build the house for buz, say you rent it out to be making money and be using that money to buy yourself a house abroad, cos with good credit, it is easy to that in abroad, then, that makes more sense to me.

Also, you could buy a house abroad, but while the economy and the housing market is booming oh, and after 2 years take out some equity and build a rentable home in nigeria and once you done with the building, rent it out and bring back what you made from it to invest in other stuff.
Now these makes more sense to me.

But i think it is ridiculous when Nigerians lives in rags in abroad all because, they wanna go back to Nigeria to impress some people that dont even give a hoot about them.

This is just my own one cent

thanks for ur advice u made a good point.

first be comfortable where you are presently living b4 building one, if u r based abraod most of the time and can afford the house, buy there and then start building in Nigeria. My parents did the same and Naija own will be opened this xmas,

Hotstepper:

first be comfortable where you are presently living b4 building one, if u r based abraod most of the time and can afford the house, buy there and then start building in Nigeria. My parents did the same and Naija own will be opened this xmas,

thanks for ur advice @Hotstepper

anytime

I was once messed up by an uncle who said i will help you buy land and build up for you like i helped my children but look what happened the land was bought but she kept the papers of the land to himself (The matter is in the hands of God) not the man refused handling the papers of the land to me , he wants me to come and beg for what i suffered for,people ar sometimes just too selfish and selfish and never have enough even if the have too much of their own.

So now i am planning to buy here in europe,bicos here i am spending most of my life
and when i do have kids one day , their life is going to be here too and that will be their inheritance
in naija i only visit once in a while.

So i would advice you to buy here in europe.

s

jacq:

I was once messed up by an uncle who said i will help you buy land and build up for you like i helped my children but look what happened the land was bought but she kept the papers of the land to himself (The matter is in the hands of God) not the man refused handling the papers of the land to me , he wants me to come and beg for what i suffered for,people ar sometimes just too selfish and selfish and never have enough even if the have too much of their own.

So now i am planning to buy here in europe,bicos here i am spending most of my life
and when i do have kids one day , their life is going to be here too and that will be their inheritance
in naija i only visit once in a while.

So i would advice you to buy here in europe.

thats very sad on what ur uncle did to ur land ,mine is also similar situation to urs, thats one of the reasons why im discourage buying in nigeria again for now but God will fight for u. thanks for ur advice

chaircover:

I will say buy abroad first, overpay your monthly mortgage payments then wait a few years for the value of the property to increase.

Take out the equity and build a sensible reasonably sized house in Nigeria with it, making sure that you build a property that will generate some sort of income even if it’s only from the boy’s quarters attached to the main house.

There is no point building a 6 bedroom 8 bathroom mansion if you only have 2 kids who are already in university as that is not sensible.

The money realised from the rental income will be used to maintain the property in Nigeria, pay NEPA bills etc so it is self sufficient.

You now have the best of both worlds

thanks for ur wonderful and reasonable advice i know few people who is doing that here in europe,its does make sense.

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OgidiBoy:
I'll built in Nigeria first at least when you finish building a house in Nigeria, the house is yours. In US houses are cheap now but the house is never yours till you finish paying that 30 year mortgage I'm sure you know where I'm going with that miss two payments and the house is gone.

Lol

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