With the recession lingering and hitting hard on real estate sector, many prospective homeowners aredumping the idea of homeownership, while others want to build a simple home that is comfortable and affordable, without going into debt. It is a fact that in most Nigerian cities, the dreams of lower construction costs have once again become a nightmare for a lot of aspiring homeowners, going by fresh increases in the prices of basic building materials. For instance, retail prices of cement has remained high, about N2, 700 per bag while manufacturers of cement-based materials, such as ceiling boards, roofing sheets and concrete products have hiked their prices.

Developers in the Nigerian housing market focus almost exclusively on the luxury residential market. However, this market segment is already experiencing an oversupply.
Then, how affordable can owning a home be for most Nigerians? A recent survey published by KPMG, stated that 77 per cent of Nigerians earn less than N40, 000 monthly – a segment described as the ‘bottom mass market’. Affordability for this level would be determined as a house costing no more than 30 per cent of N40, 000 (N12, 000). Over a 10-year period (most housing loans available in Nigeria are of a much shorter tenure), and at a remarkable interest rate of 6 per cent (as obtained from the Federal Mortgage Bank of Nigeria), such a house would be valued at about N1.1millon. This is a shocking revelation for most people, yet this is the reality in which we live in Nigeria. ‘Who can build a home for such an amount?

For Mr. Sam Odia, the Chief Executive Officer, Millard Fuller Foundation (MFF), “Affordability is determined by a number of factors, key of which are the income level of the buyer, the cost of land, materials and labour that go into building the house and the cost of funds.” MFF has been involved in producing simple, decent and very affordable homes from N1.65million for ordinary Nigerians. The 400-unit Grand Luvu Affordable estate is located in Masaka, near Abuja. On this project, subscribers pay about N12, 000 per month.
He said: “From our own experience, the material component of a building actually accounts for less than 35 per cent of the final cost of the home. Our house designs are also very frugal and economical in the use of space.”

The Managing Director, Bolyn Construction Company Limited, Mr. Rufus Akinrolabu said the solution lies in the sourcing and use of local materials in Nigeria’s construction industry. As evidence of his belief in the crusade, Akinrolabu built his private home in Ikorodu, Lagos and completed a second country home at his Ondo residence as well as an office building for his Lagos based company. He said builders using the technology could make up to 50 per cent savings. He told The Guardian, “you can make bricks that do not require cement because laterite soil that we are preaching is a soil that contains an addictive from God; clay is free.

According to him, majority of Nigerians do not want anything that is local. They are ashamed and so for them, the prices and cost of building will continue to rise untill they are ready to use local materials. Similarly, Executive Director, Shelter Origins Limited, Ezekiel Ojo said a one- bedroom self-contained could be built for between N800, 000 and N1million with the conventional blocks. Ojo, who was involved in several affordable housing models in Nigeria with the use of mud and bricks, said there is no technology that can deliver guarantee affordable houses without government intervention. According to him, government must make land available, provide infrastructure and security then people can build their houses with less than N1million.

To the President, Nigerian Institute of Architects (NIA), Tonye Oliver Braide, affordable housing can be achieved through the introduction of an industrialization process in the production of the housing units. Using modular repetitive components, he said, it is possible to cut costs by up to 20 per cent through dimension control in which every component is made to fit perfectly thereby eliminating wastes. Braide, who disclosed that the Institute is already engaging stakeholders in the built environment on the matter, said when all components of the meeting are settled Nigerians will be able to build a three-bed room flat at the region of N2-3million.

Other components that are critical in building price reduction, he said, includes design, which should be straightforward, unambiguous cost effective and production of building components on site. “There should be minimal wastage of space on circulation with the maximum utilization to be programmed for available floor space.” He also canvassed the production of building components on sites to achieve cheaper houses. “It is known that when blocks are moulded on site, the process eliminates the additional costs of transportation and handling.

“Adequate site management, should be able to tackle the challenge of quality control and theft of materials. Roofing sheets can also be corrugated on site, as it is easier to transport coils to site than move pre-cut long span sheets”. “There are cases where the cost of transportation of roofing components from remote factories could be at par with the purchase price of the roofing sheets.This means that the roof for a low cost house in a rural area will cost two times the cost of the same operation on a site in an urban area close to the factory”.

“Roofing sheets can be made of concrete as tiles and fabricated on site. This is a low skill operation and can be driven with solar energy. The resultant cost of the roof will be quite reasonable and far below factory produced tiles.”

Source:

https://m.guardian.ng/property/can-low-income-earners-build-a-home/

www.naijapropertiesonline.com

They can build a home but I cant bet if they can build a house

please be specific ok....is it hamlet home or modern house

Yeah

I know Bus drivers, primary School teachers who built and owns modern bungalows

Unfortunately but true, Buhari and his cohorts has decided to make life difficult for the masses in the bid to make others bow to them!

Cement is now N2,700 - N2,900. I could remember last regime, Goodluck Jonathan was hitting regularly on Dangote to reduce the cement price to N1000 which was about N1,350 then in other to better the lives of all Nigerians. Then I ask myself now, "What has changed

Don't come telling me about that oil barrel buha ha story because then you will make Buhari so so hypocritical! Someone who once said that fuel should be sold less than N87.00
SMH

To the OP people are struggling to eat now and you are talking of building houses quantinue .

Finally now that we all have realised our mistakes, I think we all need to collectively apologise to Goodluck for healing to start taking place.

IMPOSSICANT
Not in BUBU administration, until GOD remove him from that office by fire by thunder.

definitely.

Good people of nairaland.com, please I need your help here.
https://www.nairaland.com/3877035/need-serious-financial-assistance

Let me come and be going

I think it's how you manage your resources that really matters. You can also take advantage of companies that offer flexible payment plans. It makes it easier and less stressful ( financially).


Meanwhile

Our family is looking to sell our large expanse of land in delta State (683 hectares). All documents are available and original copies. ( C of O ,survey plan, deed of conveyance). Willing to sell in parts and also open to partnership. Prospective buyers are encouraged to do all verification with relevant bodies. You can contact on 0.9.0.8.0.9.5.0.2.1.4 0.8.1.2.6.9.3.9.6.8.7

Hm

Absolutely!!!!

They can build a house but not a home.

interesting

A brand new four(4) bedroom semi-detached duplex is
up for sale with just one unit left..

Attractions:
1. POP ceilings
2. All rooms ensuite
3. Well spacious rooms
4. Tiled floors
5. Paved Compound
6. Treated water supply
7. Spacious parking space
8. Not crowded + brand new compound transformer
9. Security Post
10. Paved street and accessible road
11. Serene, Safe and Secured environment
12. Proximity to the Novare Mall and Lagos Business
School

Location: Sangotedo, Ajah

Title: C of O

Price: #19M (net)

Call/WhatsApp: +2348075256644
info@naijapropertiesonline.com

www.naijapropertiesonline.com

Sure

With minimum wage of 18k?

That can only happen in Heaven and not in present day Naija.

Its possible, but its not going to be easy...

.

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Impossible is nothing

yes..if there is proper planning nd cooperative will help.It also depends on what you want to build. some people want something big that is why they keep building for 10yrs or more. Something simple like 2 to 3 rooms should be fine.
Nothing can be compared with having ur own house nomatter how small.

I blame the arewa slaves from the west

jhydebaba:
They can build a home but I cant bet if they can build a house

I can assure you meant it the other way round...

houses are built, homes are made

There are plots of lands that cost N20,000/plot to 100,000/plot. They can afford that