Fabbyking:
My advice is build a 2 bedroom for your self first so that you and your family will have a place you call your own without paying rent and can be completed within a short time then gradually without much stress and pressure build for commercial purposes.

I also have a situation that I will need everybody's contribution. I am igbo and I reside in the North but due to the rising security situation in the county I want to relocate preferably anywhere in the east but the east is not that safe also. Even if I relocate what will I be doing, ideas:-
1- Build a guest house maybe later Hotel
2- Become a distributor of Nigerian Brewery (Beer)
3- Build self con. Houses and relax
4- Continue my building materials business
5- Continue staying in the North and investing something in the East

Ndlistic:
Property gurus in the house, please, how long will it take someone that saves at least 400k - 450k a month to complete a 3 storey building in the South East?

Let's say land is already available.

Again, would you advise build own personal house (duplex) first or build a 3-deck house for rentage before building own personal house?

Thanks.

Note: I Said savings, not earnings. Thanks

crixlight2:


Haha which kine advice be this , how person go complete duplex with 9.6million with the current price of building materials

Umorosky17:

I tire oooo, very surprising.

jesmond3945:
do you mean one bungalow or sets of bungalow?

Snails:
First of all have a cost plan. Like how much is rod, cement, labour, water, just have and know the estimate of the building materials you will need to complete the 3storey building.

Then every month you know how you can allocate the resources to the project.

But if you wan build 3storey with 500k budget per month, just know say e go take you up-to 5years to complete.

Ndlistic:
Property gurus in the house, please, how long will it take someone that saves at least 400k - 450k a month to complete a 3 storey building in the South East?

Let's say land is already available.

Again, would you advise build own personal house (duplex) first or build a 3-deck house for rentage before building own personal house?

Thanks.

Note: I Said savings, not earnings. Thanks

IHANLU:
The best is to get a loan facility to execute the project of 3 storey building now in which the monthly repayment plan will be within 400k - 450k.
The reason being that, the cost of building material is not stable also considering the time value of money. once you do this, you will continue to enjoy the rental income from now while servicing the loan as against staying the construction for several years before completion.
I am speaking from personal experience

Ndlistic:
Property gurus in the house, please, how long will it take someone that saves at least 400k - 450k a month to complete a 3 storey building in the South East?

Let's say land is already available.

Again, would you advise build own personal house (duplex) first or build a 3-deck house for rentage before building own personal house?

Thanks.

Note: I Said savings, not earnings. Thanks

Ndlistic:
Property gurus in the house, please, how long will it take someone that saves at least 400k - 450k a month to complete a 3 storey building in the South East?

Let's say land is already available.

Again, would you advise build own personal house (duplex) first or build a 3-deck house for rentage before building own personal house?

Thanks.

Note: I Said savings, not earnings. Thanks

Freestainworld:
Build 3 storey building for rental first, park in into one of the flats while leasing the remaining flats out, then gradually plan properly on how to build private house later.

jesmond3945:
number 5

Ndlistic:
Property gurus in the house, please, how long will it take someone that saves at least 400k - 450k a month to complete a 3 storey building in the South East?

Let's say land is already available.

Again, would you advise build own personal house (duplex) first or build a 3-deck house for rentage before building own personal house?

My brother you have more than enough to start... Don't build duplex now,tenant house is an assets. Start by saving up that amount for like two years... Look for a good contractor ND start building... Always remember to not manage in buying material to prevent building collapse.... Good luck.
Thanks.

Note: I Said savings, not earnings. Thanks

Snails:
First of all have a cost plan. Like how much is rod, cement, labour, water, just have and know the estimate of the building materials you will need to complete the 3storey building.

Then every month you know how you can allocate the resources to the project.

But if you wan build 3storey with 500k budget per month, just know say e go take you up-to 5years to complete.

Thinktwicemybro:
It depends on your responsibility. If you can save 200k out of it monthly, you can build a three bedroom flat in 3-4 years.

Ndlistic:
Property gurus in the house, please, how long will it take someone that saves at least 400k - 450k a month to complete a 3 storey building in the South East?

Let's say land is already available.

Again, would you advise build own personal house (duplex) first or build a 3-deck house for rentage before building own personal house?

Thanks.

Note: I Said savings, not earnings. Thanks

chimexdnice1:
Don't start by saving 400k every month. Instead use that 400k every month and buy materials for whatever type of building you want to do. Because prices of building materials ain't smiling and won't wait for you to save up something big. Prices are steadily increasing. Don't make that mistake.
If you can't run, walk. If you can't walk, crawl. But by all (Legal) means, keep moving!

IHANLU:
The best is to get a loan facility to execute the project of 3 storey building now in which the monthly repayment plan will be within 400k - 450k.
The reason being that, the cost of building material is not stable also considering the time value of money. once you do this, you will continue to enjoy the rental income from now while servicing the loan as against staying the construction for several years before completion.
I am speaking from personal experience

stancydg:
Get on the National Housing Fund(NHF) by the Federal Mortgage Bank of Nigeria (FMBN) via any accredited Primary Mortgage Bank(PMB) in your area. Make your contributions for 6months and get your 10% - 30% equity contribution ready for whatever building type you desire and FMBN finances the rest for you, while you repay at 6% interest rate over a long period.

Fabbyking
post=111352032:
My advice is build a 2 for your self first so that you and your family will have a place you call your own without paying rent and can be completed within a short time then gradually without much stress and pressure build for commercial purposes.

I also have a situation that I will need everybody's contribution. I am igbo and I reside in the North but due to the rising security situation in the county I want to relocate preferably anywhere in the east but the east is not that safe also. Even if I relocate what will I be doing, ideas:-
1- Build a guest house maybe later Hotel
2- Become a distributor of Nigerian Brewery (Beer)
3- Build self con. Houses and relax
4- Continue my building materials business
5- Continue staying in the North and investing something in the East

Ndlistic:
Property gurus in the house, please, how long will it take someone that saves at least 400k - 450k a month to complete a 3 storey building in the South East?

Let's say land is already available.

Again, would you advise build own personal house (duplex) first or build a 3-deck house for rentage before building own personal house?

Thanks.
7k
Note: I Said savings, not earnings. Thanks

Dfavouredone:


Not a good advise.

If you take 50m loan at 12% per annum, that means paying interest of 6m annually (500k monthly) without even paying pay the principal. All his monthly savings will go into paying interest and the principal will still be there. Simply put, he will be working for the bank.

You only take a loan to finance a project that have ROI beyond the prevailing interest rate.

ogododo:


If you get land it is possible.

frozen70:


Don't save the money, start purchasing materials of you are serious about building

The idea of going for a three storey building looks like a white elephant project

Foundation of three storey building is approximately 5 million because you are going to use 22mm rod

Start by pricing 22mm rod and 16mm rod per tons

samuelson06:


Hello, can 16mm be used to build a 2-storey building?