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Do I Build A Small House Now Or Keep Saving? - Family (7) - Nairaland

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Re: Do I Build A Small House Now Or Keep Saving? by Nobody: 11:27pm On May 01, 2020
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!!


@ OP, hope you are not pretending to be a pauper with your friend who is harbouring you? Like, you buy fuel, food, etc? And not have him think he has to take care of you?

I would change my Naira to Dollars or Euros if I were you sha(I would probably lose upto 100/200K with this, but I would be more comfortable having stable money. Or I would buy gold. I would do these two ahead of buying land.
Okay, maybe leave the gold, get Dollars. With the projections they are making, the Naira is likely to fail even more...and it’s to your benefit. Don’t buy land in unstable times- you don’t even know the future of this country what with BOTH Chinese and western interests lipsrsealed
Re: Do I Build A Small House Now Or Keep Saving? by bizhop01: 11:28pm On May 01, 2020
Donate 11 million to government until you figure out what to do with money,


I think you will safe more life's because federal government still need more funds to combat covid19,


God/Allah bless you in advance.
Re: Do I Build A Small House Now Or Keep Saving? by CeeManCollins(m): 11:29pm On May 01, 2020
11.4m is not a lot but a very good money for someone of your age and economy. First off show your friend some kind of appreciation for putting up with him while you saved cos the story my change if he finds out you have such for money for such investment. Next take a couple of thousands and show love to your kinsmen; your immediate kindred. Buy some bags of rice, cartons of indomie, Cartons of tomatoes and bags of salt. I don’t go to church nor believe in prayers but believe me they will genuinely pray for you and appreciate your kind gesture, your good deeds and their prayers for you to multiply will guide you so you don’t into the wrong hands or investment going wrong.
Secondly, get a land close to a higher institution and build a modern self cons like ten rooms, while buying the land go a little further inside where u can get the land cheaper wants u make it a modern building students will pay good rent. We will be in this corona era a little longer and their will be more lockdowns that will run into months and people will sell land cheap when that time comes. Bro forget about going abroad for now. If you need more advice pls contact me. I wish you luck.

8 Likes

Re: Do I Build A Small House Now Or Keep Saving? by Graxie(f): 11:31pm On May 01, 2020
Poorboy:
one guy that wanted to come back from Ghana one time like that in 2018 to marry one girl that was my close friend use to send enough money to her.

Till she add billion to his name, he once called and said his friends stole his 11 million in his house grin grin I was there when he called the girl not that the girl lied to me. After the call I told the girl you're dealing with a Yahoo boy.


But they later got married Sha hahhahhaahha. So hearing 11 million here. Lol
Some women no send oh, including mothers. It is truly well.
Re: Do I Build A Small House Now Or Keep Saving? by covid2019: 11:32pm On May 01, 2020
psalmuelwater:

Abi, how does one hustle legitimately and has 11 million plus in his account, and still squatting with a friend. And most notably, doesn't have a direction for his life yet. I'm not he truly has the 11.4million

I am not squatting because I can't pay rent.
I don't show off or brag.
Besides the friend I stay with is a post grad student.

He stays in his family house and very conservative.





I foot many bills there. In fact the last small renovation cost me circa 200k. I buy food stuff too, gas, run errands etc. It's a family house . No rent is paid.

The only thing is that I have no girlfriends, no social life and no show off.

Took me 6 years to save this money.

9 Likes

Re: Do I Build A Small House Now Or Keep Saving? by dukeprince50: 11:33pm On May 01, 2020
Timothyoj:


I disagree with this option brother, keeping money in the bank is of no value. Erecting a building can never depreciate. In as much it's on a land then count it appreciative....

Use the money not keeping...my opinion though
The value of a house 20years ago is not thesame today, Architecture bring up new designs and the one which seem cool 20years ago is no more what it use to be.
There was a time brick house has worth, them block house came, now we have glass house. House doesn't appreciate o, don't be deceived.
In the next 20years, u will see a lot of sky scraper in places like Lagos, PH etc, the normal house today won't be of much value then
Re: Do I Build A Small House Now Or Keep Saving? by gfullmoon(m): 11:33pm On May 01, 2020
Squatting while you have almost #12M in your account make this story a Class A Fiction.

3 Likes

Re: Do I Build A Small House Now Or Keep Saving? by covid2019: 11:34pm On May 01, 2020
SIRKAY98:
Build that house now. You can build it for rentage purpose. Am doing something similar in this covid 19 era now as am talking.

Get loan .decknig the building. Use down for rent and up for your stay. Thank me later
Loan from where please?
Re: Do I Build A Small House Now Or Keep Saving? by yemkoguru(m): 11:34pm On May 01, 2020
Graxie:
Which kind huzzle give you that money?
grin me sef wan know

1 Like

Re: Do I Build A Small House Now Or Keep Saving? by covid2019: 11:35pm On May 01, 2020
Samm9y:
If you had worked hard for the money I don’t think you will be needing any advice here, that’s if you ain’t making up stories. Go buy 6m ride, use d rest lodge olosho. That’s what G money is meant for.

It took me 6 years to save that money. I live a frugal life.

5 Likes

Re: Do I Build A Small House Now Or Keep Saving? by frozen70(f): 11:36pm On May 01, 2020
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?




From my own point of view, if you want to buy land, it's a good idea rather than savings and the money will be depreciating

But you have to decide where you want to buy the land

Lagos is OK, if you reside in lagos

Get a plot of land, build a mini flat like three sets and put it up for rent then you take one for yourself

You can build by the back and corner portion of the land and keep the middle /front for your own main building

If you have 11m, you can achieve upto complete roofing with 7m

I will advise you go straight to building than fencing, fencing a land is equivalent to building a bungalow after building, you fence if you want

With time you plan for your self what you want the main building to be or how you want it to be

Dollar is rising because CBN are not selling this period and all the horders are using the opportunity sell high to make money this period

Once you have money at hand, it's valuable depreciates but the moment you put it into building, it appreciates

Is like buying a car, once you drive out a car from the show room, the value deprecates but as it is in the showroom or car marts, it has its value

Forget about buying cars, people will put eyes on you because of your age

And pls remember, build in silence, the world is a bad place you don't know who is genuinely happy with you and for you

4 Likes 1 Share

Re: Do I Build A Small House Now Or Keep Saving? by Pandev(m): 11:37pm On May 01, 2020
Build a portable house. Use the rest to invest.
See my SIG for bitcoin business
Re: Do I Build A Small House Now Or Keep Saving? by Sirmuel1(m): 11:37pm On May 01, 2020
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?






It would cost you 3m - 5m to build a small House in the Village. Erect a building and plan other stuff.
Re: Do I Build A Small House Now Or Keep Saving? by covid2019: 11:39pm On May 01, 2020
afroxyz:
Building a house is an emotional investment. It's just for bragging rights. Well, unless you want to sell it thereafter. If you are hoping to use rent to recoup your investment, e go tey. Buy lands and flip them. If you want to move it mast you can buy, fence then just start a small structure then you sell. Building a house never made anyone rich, it is biz that would.make you rich. When you have enough money just build.one that you and your family would stay.

N.B I hope you were helping you friend with rent. You can't have that amount and not want to pay rent or have. Place of your own. It's like you are taking advantage of him.

I foot many bills there. In fact the last small renovation cost me circa 200k. It's a family house . No rent is paid.
Re: Do I Build A Small House Now Or Keep Saving? by yemkoguru(m): 11:40pm On May 01, 2020
covid2019:


Lol, my friend I squat with lives in their family house, and is post grad student. I help with expenses around the house.

But nobody knows I have that kind of cash because I don't brag or show off.
I bought no single trousers last year
madooooooh
Re: Do I Build A Small House Now Or Keep Saving? by Ibeme: 11:41pm On May 01, 2020
covid2019:

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

You are a smart man with what you have achieved already.

Opening a domiciliary account is by far the best option.

Naira will depreciate drastically with oil price and IMF conditions, and with what's to come in the economy, people will need to sell properties to raise cash to stay afloat.

Keep yourself in a market with demand (dollars) and stay out of a market that will have oversupply (Housing) after this period.

The domiciliary account will buy you a bigger house at the end of this COVID period.

5 Likes

Re: Do I Build A Small House Now Or Keep Saving? by covid2019: 11:41pm On May 01, 2020
foodonly:
How come did he get 11.4million as a young hustlers. This not true or genuine because if it, he would have know what to do it with it.
Took me 6 years. Austerity measures, no girlfriends too

3 Likes 1 Share

Re: Do I Build A Small House Now Or Keep Saving? by yemkoguru(m): 11:43pm On May 01, 2020
covid2019:


It took me 6 years to save that money. I live a frugal life.
hmmm
Re: Do I Build A Small House Now Or Keep Saving? by Pavicx(m): 11:43pm On May 01, 2020
BrO you are 29 oo
Build a house
Marry
Make kids
Just be HAPPY
Just LIVE BIKO
Unless you want to rule the world
Then you can continue waiting for the money to get bigger
Re: Do I Build A Small House Now Or Keep Saving? by yemkoguru(m): 11:43pm On May 01, 2020
covid2019:

Took me 6 years. Austerity measures, no girlfriends too
mehn
Re: Do I Build A Small House Now Or Keep Saving? by Euegene100001: 11:43pm On May 01, 2020
On today’s episodes of things they are not true .29 years old guy squatting with 11 plus million. cheesy

3 Likes 1 Share

Re: Do I Build A Small House Now Or Keep Saving? by yemkoguru(m): 11:44pm On May 01, 2020
Pavicx:
BrO you are 29 oo
Build a house
Marry
Make kids
Just be HAPPY
Just LIVE BIKO
Unless you want to rule the world
Then you can continue waiting for the money to get bigger
fact it's time to settle down
Re: Do I Build A Small House Now Or Keep Saving? by ericmor: 11:44pm On May 01, 2020
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

I don’t advice to hold the money bcs it may loose value in the future, so I rather advice to build for rent just to make more money and also land don’t depreciate. This is Nigeria where the unexpected do happen
Re: Do I Build A Small House Now Or Keep Saving? by yemkoguru(m): 11:44pm On May 01, 2020
...
Re: Do I Build A Small House Now Or Keep Saving? by covid2019: 11:45pm On May 01, 2020
Horlardorjah:



I wouldn't want to argue or trade words with anyone.
only the discerning knows and they have gotten what I am saying here. if you know how real estate works, then n only will you know he can double or triple that amount within a short while without loss and possibly won't be upto a year.
ask if you don't know and you get the knowledge from those that knows.
a poor landlord from your village or where?
u still tag he/she as a landlord right? n u still use the word poor, because they ant driving Bentley or gwagon?
come out of your confinement n widen your scope sir.

Could you please elucidate on how to go about this real estate flipping?

1 Like

Re: Do I Build A Small House Now Or Keep Saving? by TheGreatIYANU: 11:46pm On May 01, 2020
covid2019:
I am in a dilemma worsened by this covid19....

Bro I just want to know what business (hustle) you do that yields appx 7m from 3-5m?

As for your question, DONT DARE THINK OF GETTING FX now!

The value depreciation you're talking about will raise to power 10 once you make this deadly mistake!

Dont even build, except it's for commercial purpose. Like someone adviced here, you can get cheap land now and build in a central area or location close to à busy place e.g. a Uni.

Apart from that my bro dont do anything major now as the economy is very volatile and we dont know the extent to which this pandemic will go.

They say we are yet to reach the peak of our own curve so just chill.

Also, I would really love to know what you do bro. This is not a diss. I need another stream of income and I'm open to great ideas.

You can email me - thegreatiyanu@gmail.com
Re: Do I Build A Small House Now Or Keep Saving? by TwistedInsane: 11:47pm On May 01, 2020
OP, your side sweet o.


Just trasnfer me like 50k mah take see front for this lockdown nah. No be my fault. Even after lockdown, I still need to hunt for jobs after getting laid off due to the pandemic.


Nairalanders, please help a brother. Wetin hunger don do me this period, omo no be here. Na beg I dey beg una o!

0035819361
Re: Do I Build A Small House Now Or Keep Saving? by Happyguy201: 11:47pm On May 01, 2020
domiciliary account is the best when naira falls you will be richer than dangote.
Re: Do I Build A Small House Now Or Keep Saving? by yemkoguru(m): 11:47pm On May 01, 2020
covid2019:


Could you please elucidate on how to go about this real estate flipping?
I'm beginning to feel jealous
Re: Do I Build A Small House Now Or Keep Saving? by ChukaOkolo(m): 11:50pm On May 01, 2020
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?


Building a house & buying lands will be a nice �� investment. There are new alternative methods of building stronger and cheaper houses.



Re: Do I Build A Small House Now Or Keep Saving? by deleson: 11:51pm On May 01, 2020
Young man, the pieces of information you provided aren’t absolutely helpful in understanding the giving far-reaching financial advise.

Clarity on the following might help;

1. What business are you into?

2. How long did it take you to raise your net profit?

3. What is your motivation for building a house; being called a landlord, collecting rental or what?

4. What is the cost of a land and erecting a structure? The wise counts/knows the cost before embarking on any project.

5. Can you expand your business to make more money?

6. How structured and sustainable is your businsss?

7. How diversified is your investment?

And a whole lot more!


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?



Re: Do I Build A Small House Now Or Keep Saving? by Nobody: 11:52pm On May 01, 2020
Bro build a house of 5m place it on rent
Use the remaining money to travel out cool

1 Like

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