₦airaland Forum

q

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Nice piece... But it should be tailored to the realities of the Nigerian real estate market, I see things like Mortgage

..

I think this post applies to other countries not in Nigeria.

How many houses in Nigeria pays taxes?

Apart from estates, commercial buildings and offices I know pay tenement rate..I personally know how local governments and FIRs is still struggling to generate money from housing

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doesn't apply to Nigeria...mortgage is almost non existent in Nigeria.

You talking from Western perspective, it's not applicable here. Infact that idea that owing a home is not an investment but terrible is totally wrong. What is investment then?


An average Africa man don't build home (house) to sell it in future but as an inheritance.

What about using the house to get loan?

lnsurance, maintenance, property taxes and other cost is applicable anything house. However, these fees are not much obtainable here.

How long are you going to be paying for rent all your life. What if the landlord wakes up anytime and wants to renovate or sell his house, how do you manage the inconveniences?

Money worth-less every second, investing in bonds might even be terrible because of inflation.

Even real estate has its ups and downs. Many US cities are deserted because development moved to other areas thereby the houses there loses value.

Your money can disappear any day but not your house.

lalasticlala help push