tot:


The interest rate is per annum not monthly. So 1m for the year = 83k monthly.

dukeprince50:
If the house u want to build is ur own residential house, I'll advice u to invest that money into different businesses, u can multiply that money by 5 in the next ten years, but if u want to give it out for rent, I'll say u should build it.
Ur first priority should be more money. The house, if not for rent will depreciate but land does not.
Also if u haven't figured out what to do with ur life, I'll say u hold that money till u find urself

omonla10:
my brother, In all u do, don't ever loose ur working capital o.. house won't feed u.. just try divide the risk.. half for house and half for working capital..
without a working capital, u might end up selling d house for survival in few years.. except u have a good cv Sha that can bring employment soonest

yanabasee1:
Well..... I wish to have friends that will allow me to squat with them and be making this kind of savings to be contemplating about building a house....



God give me these type of friends mbok!!

CapitalBank:


Lol. U never jam. There are lots of lucky bastard in this country with consistent cash flow that they don't know how to take it to the next level.

If u take away his current hustle now, dude will be so empty.

That is why developing yourself up to the point of having multiple stream of income is the best.

Kosoco:
You have 11.4 m and you are squatting with me I will kick your ass out. Except we are in the same G Work... You have 11m and your are Squatting bro I don’t believe you. Come plain pls... Maybe you just pick... but remember d picker and the picky one day Egugun go enter express. If it’s legit it will multiply.

princechina:


Very selfish guy. Squatting and inconveniencing his friends and busy saving his own money. I pray for no such friend abeg.

covid2019:
I am in a dilemma worsened by this covid19.

I am a graduate male of 29 residing in the East. I still squat with a friend, not because I don't have money for house rent. But principally because I have been unable to figure out what I want to do with my life, hence renting a house feels like a commitment that might get me stuck.

I always feel I might move anytime soon-- to either another state or abroad for masters or just practice of my profession. Note that I didn't study a STEM course.

All these while squatting, I have been saving via my proceeds from hustles.

In the wake of this COVID19, I checked all my banks and found out that money I have in my account has lost so much value given the dollar rate.

I have 11.4 million, inclusive of my working capital, plus a rickety car valued at 350k. Each time, I need just 3-5m as working capital.

It seems that trying to save more is false economy and might be counter productive.

NOW, I AM CONSIDERING buying a plot of land and erecting a small house even if it's 3 rooms. This, I think will serve as investment that will keep appreciating and also serve as residence.

Or just open a domiciliary account to hedge against naira fall and continue saving.
What do you think please?

Horlardorjah:



I strongly disagree with you, I doubt you know anything about property for you to say a residential building will depreciate. u should have said building to rent or lease is better as it brings income on a steady bases to him residing there. u know nothing about property and u are a bad adviser.
someone mentioned building self contained apartments and it sounds n it is avery much better opinion if the location he buys the land is an area with high demand for such housing type.
holding cash in the bank in Nigeria is not good enough so far you don't have any plans for it yet and the best investment in Nigeria as at now is property business. which i can vouch for you if properly done, you will come to say thanks n even do more.
but what do I know.

ladyGKilaBCrueD:
keep saving and japa when you've saved enough.

Mrchippychappy:
Invest in business instead.

Come to my covid19 seminar, I would teach you how to make face mask, hand sanitizers and ventilators.
Table for 10 = 5 million naira.

afecgivers:


Use the 11m to sow seed in any Christ believing church...and you will see what God will do in your life. Or if you can't do that, lend me 2m to pay 3m within 12months.

covid2019:
I am in a dilemma worsened by this covid19.

I am a graduate male of 29 residing in the East. I still squat with a friend, not because I don't have money for house rent. But principally because I have been unable to figure out what I want to do with my life, hence renting a house feels like a commitment that might get me stuck.

I always feel I might move anytime soon-- to either another state or abroad for masters or just practice of my profession. Note that I didn't study a STEM course.

All these while squatting, I have been saving via my proceeds from hustles.

In the wake of this COVID19, I checked all my banks and found out that money I have in my account has lost so much value given the dollar rate.

I have 11.4 million, inclusive of my working capital, plus a rickety car valued at 350k. Each time, I need just 3-5m as working capital.

It seems that trying to save more is false economy and might be counter productive.

NOW, I AM CONSIDERING buying a plot of land and erecting a small house even if it's 3 rooms. This, I think will serve as investment that will keep appreciating and also serve as residence.

Or just open a domiciliary account to hedge against naira fall and continue saving.
What do you think please?