Build A New House Vs Buy A New House - Properties (2) - Nairaland
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Poll: If your budget is 20 million naira, which would you preferbuild a new house: 76% (93 votes)buy a new house: 18% (22 votes) live in a hotel: 1% (2 votes) renovate an old house: 3% (4 votes) rent a house and use the balance to buy a car: 0% (1 vote) This poll has ended |
Buying A House Vs Building A House / How Much Will It Cost To Build A 3 Bedroom Flat. / Buying A House Vs Building A House Which Is Cheaper (2) (3) (4)
| Re: Build A New House Vs Buy A New House by favouredjb(f): 1:24pm On Jan 15, 2012 |
Getting land to build in a good location eg opebi might be a problem |
| Re: Build A New House Vs Buy A New House by kuluTemper: 1:55pm On Jan 15, 2012 |
Wet in u wan take 20 million buy for this Abuja? Dog house I guess, or u wan go stay for way outside town |
| Re: Build A New House Vs Buy A New House by eghost247(m): 3:29pm On Jan 15, 2012 |
build a new house and who are those voting for living  in a hotel? |
| Re: Build A New House Vs Buy A New House by mikeb52: 4:10pm On Jan 15, 2012 |
please help me out. how mush dos it cost to build a nice duplex in Nigeria now excluding the land and also how mush dos it cost to buy a good duplex in Lagos? |
| Re: Build A New House Vs Buy A New House by akinalabi(m): 4:18pm On Jan 15, 2012 |
There is no straight answer to this. They both have their advantages and disadvantages. The main advantage of building is you can do it at your pace financially. You can do it in 5 years if that is what is convinient. To buy, most likely you have to out together a lump sum. But there is a problem with building especially if you live in Lagos. Your contractors and builders will rob you blind. There is no other way around this. If you like go to the market yourself or put a mai guard on your site. You will spend about double the amount. Its that bad. Buying too can be a problem expecially of the developer is shady. Some developers will use sub standard material and your house will start falling apart as soon as you move in. For those talking about taste, I dont know the kind of taste you have but with good money, you will certainly find your taste. When you see some houses that is when your taste will improve.  My submission is if money is not a problem, buy a house but you have to consider the following. - The track record of the developer - Take an independent builder and maybe a quantity surveyor to give you their assesments |
| Re: Build A New House Vs Buy A New House by spyder880(m): 4:20pm On Jan 15, 2012 |
For those who think 20 milla is too small, well, remember 99% of Nigerians have never seen that much cash. 10 million is even like pipe dream! Build new is better, but can you handle the stress? The delays especially when you gat people to impress, deadlines to meet and all other hassles. Buy new is equally good but dont forget another man must make profit before releasing the house. |
| Re: Build A New House Vs Buy A New House by maclatunji: 4:53pm On Jan 15, 2012 |
Buy! Buy!! Buy!!! I sell houses. In fact, I have one that is close to this budget. I urge you to go for it! |
| Re: Build A New House Vs Buy A New House by maclatunji: 4:55pm On Jan 15, 2012 |
maclatunji: Details are here https://www.nairaland.com/nigeria/topic-841108.0.html #YouknowIamserious |
| Re: Build A New House Vs Buy A New House by moremi2008(m): 4:58pm On Jan 15, 2012 |
I'll rather build. I can take my time with building and I can build everything to my satisfaction and tastes. What's the point of buying a new house, moving in and discovering all sorts of defects and malfunction a year after moving in? Why buy an old house that has had all sorts of inhabitants and all sorts of structurally unsound renovations? |
| Re: Build A New House Vs Buy A New House by tpapa165: 5:53pm On Jan 15, 2012 |
Brand new house's for rent in ikoyi, V/I, lekki, ikate, agungi and chevron areas. For more info contact mr tope on: 07031188135 or 07055677689. |
| Re: Build A New House Vs Buy A New House by kizito96(m): 7:27pm On Jan 15, 2012 |
Build your own |
| Re: Build A New House Vs Buy A New House by joshua112: 7:42pm On Jan 15, 2012 |
i will prefer u build ur own house cos it will be to ur taste and u can personally try to visit ur site while construction is going on u can learn one or two things.for example i have a project near one of my site im building for a client and the house is meant to be built and later sold for interested buyers,if u see the way the house was built u would never want to buy houses but build.the plumbing was so badly done dat the plumber was using heat from fire to joing the pipes together and now buried into the wall,as time goes on the pipes in the wall will pull out thenn u start have leakages in the wall then u start breaking the wall to repair the pipes. for more advice u can call me on 08023327879 so u can pay a visit to my site and i will show u wat im saying. |
| Re: Build A New House Vs Buy A New House by Amjustme: 8:19pm On Jan 15, 2012 |
@ Poster It actually depends on the state in which i intend to build, for instance, in a place like abuja, there are alot of irregularities in land documents which means buying a piece of land is more like a gamble, its thus better to buy either land or already built house from private developers( of which you must also verify how genuine they are). If you buy the land from them, some estates insist you must build to their own designs( although they are majorly concerned witht the external, you could redesign d interior to suit you and your family). Secondly,houses in abuja are ssooooo expensive and its easier to geta mortgage and buy an already built house. |
| Re: Build A New House Vs Buy A New House by Woke4all(m): 9:34pm On Jan 15, 2012 |
When the money is there you buy any house anywhere, anytime any how and if you are not comfortable with the pattern, break it down or renovate it to your choice. But if it's your first house i always advice to buy a portable house then latter buy a good land, and build to your taste. 1 Like |
| Re: Build A New House Vs Buy A New House by lilkech(m): 1:02am On Jan 16, 2012 |
PROPERTY FOR IMMEDIATE SALE 3 PLOTS OF LAND + A DUPLEX ( half completed ) THIS PROPERTY IS LOCATED IN SATTELITE TOWN . LAGOS STATE N20,000,000 ( 20 million Naira ) NEGOTIABLE , CONTACT FOR MORE DETAILS ( claverestest@gmail.com ) |
| Re: Build A New House Vs Buy A New House by purefella(m): 1:33am On Jan 16, 2012 |
lastpage: That's exactly what i did , i rented an apartment an area with very stable electricity and don't want to leave the area , i purchased a 8 rooms and demolish it to build an apartment to my own taste all matter of your pocket , location and choice |
| Re: Build A New House Vs Buy A New House by causRep: 4:30am On Jan 16, 2012 |
building na looong tinjare. I say BUY, and ADJUST! |
| Re: Build A New House Vs Buy A New House by Fhemmmy: 3:43pm On Jan 16, 2012 |
Watching and learning |
| Re: Build A New House Vs Buy A New House by rastaman20(m): 8:46am On Jan 17, 2012 |
School of thought learning a lot, pls keep all those tips coming. |
| Re: Build A New House Vs Buy A New House by Fhemmmy: 3:48pm On Jan 17, 2012 |
rastaman20: Yes oh . . Chief |
| Re: Build A New House Vs Buy A New House by rastaman20(m): 12:30pm On Jan 18, 2012 |
Fhemmmy: Thats why we are here Sir, still remain royal. |
| Re: Build A New House Vs Buy A New House by blank(f): 1:26pm On Jan 18, 2012 |
For those saying build and adjust, let me give you guys a little story. Where i am staying in Lekki, the house right beside mine became available for sale. The guy built it for his mum and the mum has now relocated. The house was one of the first to be built on the street so the guy did not take flooding into cognisance. The flood reaches all the way to the bottom window of the rooms so no one can live there. The house is also a bungalow but is totally surrounded by storey buildings so no ventilation. To live in this house, the house will have to be totally knocked down and built from scratch. That to me is such a waste of money and resources. |
| Re: Build A New House Vs Buy A New House by Fhemmmy: 2:32pm On Jan 18, 2012 |
^^^ Imagine someone buying that in the dry season without a clue and yet wanna adjust . . . |
| Re: Build A New House Vs Buy A New House by purefella(m): 2:58pm On Jan 18, 2012 |
Fhemmmy: Mr fhemmy that would be a waste of money and that is why is good anything properties you have to get it during rainy season including renting |
| Re: Build A New House Vs Buy A New House by Fhemmmy: 3:17pm On Jan 18, 2012 |
purefella: That is a Million $$ Advice that i have learnt on NL . . . . . |
| Re: Build A New House Vs Buy A New House by atasteve: 1:30pm On Apr 30, 2012 |
akinalabi: There is no straight answer to this. They both have their advantages and disadvantages. I disagree with Akinalabi on the issue of being duped by builders because with the knowledge gained from our highly esteemed "profs", i have been able to see a project through at a very reasonable price despite the fact that I don't have very good knowledge about building. |
| Re: Build A New House Vs Buy A New House by joshua112: 6:05pm On Nov 25, 2014 |
hustla242: its a good idea ,it gives u room for addition and subtraction and u can use your own type of colour for paint in each part of the building.its more or less like you bought a building at its carcass stage.i do a lot of works like that where the client buys the house uncompleted and we finish it up for the clients.i have done jobs like that at lekki axis and im about starting another at suncity abuja |
| Re: Build A New House Vs Buy A New House by joshua112: 6:15pm On Nov 25, 2014 |
atasteve: yes ,I also disagree with akinalabi,if u have been duped by a builder or whoever its because you were either was looking for a cheaper builder or you got a quack for a builder.this is a career I have been doing for 10years and I always advice clients to have a boq(bill of quantity)this will give them a true pics of how much will finish a building,then the client follows up with the expenses,the builder and the stage of construction and at the end of the day the client gets the worth of the building he/she spends money on and the builder to will get whatever are his benefits from the job or do u expect the builder to do d job without making money or at a loss? so mr akinalabu,so I will advice that whenever you want to do a project,get a bill of quantity and then you and your builder will agree on a good price fro the project tthen you pay ur contractor stage by stage based on the milestone set for the project. although we can rule the fact that there are some bad builders or contractors who cheat and steal from the client.mr akinlalabi u can call me on 08023327879 for further professional advice or we can work together on any future projects to have.getting sincere contractors aren't easy |
| Re: Build A New House Vs Buy A New House by Elai147: 8:30pm On Nov 25, 2014 |
I think it is better to build instead of buying. Some of my reasons are: You can build to your taste. If you lack the time and knowledge, you can employ a building contractor to do it for you with proper supervision from a third party as you would do if physically present. Risk factor. Considering a hypothetical case of buying a house worth N50 million and realising you have been swindled regardless of the due diligence made before purchase. If you were to build within a time frame of say 2 to 5 years and eventually bought from a fraudulent schemer, chances are that before you finish moulding the required blocks for the project or even spending up to N50 million- the hypothetical worth of the project- the real owners will come knocking on your door. This way, you save yourself some money that would have been lost if you had bought the house. In essence, it is riskier buying than building. Some tend to buy and adjust to their taste at a later stage. However, there are some corrections that are near impossible to make- for example, if the problem starts from the foundation except you are planning to demolish and rebuild which is a waste of money. Buying an uncompleted building has the same risk- you have no idea what foundation the house was built on. Remember, foundation is the most concealed part of a building. |
| Re: Build A New House Vs Buy A New House by wura2020: 10:05pm On Nov 25, 2014 |
Have you folks ever heard of this wise old saying? "The fool builds a house, the wise buys a house". I dont know where this saying comes from and how correct it is. But for me, I prefer to build. |
| Re: Build A New House Vs Buy A New House by joshua112: 5:42pm On Nov 27, 2014 |
mikeb52: WELL MIKE FROM MY EXPERIENCE AS AN ARCHITECT/CONTRACTOR U MIGHT SPEND UP TO 30M TO BUILD A DUPLEX DEPENDING ON THE SIZE WITH THE EXTERNAL WORKS INCLUSIVE AND IF U WANT TO BUY IT MIGHT COST U UP TO 45 M TO 50M .THIS BASIS IS FROM THE JOB I DID IN MAGODO.I COMPARE COST OF CONSTRUCTING A 5BEDROOM DUPLEX TO THE COST AT WHICH THEY SELL SOMETHING OF THAT SORT IN MAGODO |
| Re: Build A New House Vs Buy A New House by joshua112: 5:47pm On Nov 27, 2014 |
wura2020: I BELIEVE ONE CAN BUILD OR BJUY DEPENDING ON THE FINANCIAL CONDITIONS AND OTHER FACTORS U FIND URSELF.FOR INSTANCE I BUILT MY OWN HOUSE INSTEAD OF BUYING.I HAD LIKE 8MILLION THEN AND I NOTICED IT COULD NOT GET ME A LAND TALKLESS OF BUILDING A HOUSE ON THE MAINLAND.ALL I DID WAS TO BUY A HALF PLOT OF LAND SOMEHWHERE IN IKOTUN AND I BUILT MYSELF A VERY STANDARD 4 BEDROOM ALL ROOMS ENSUIT BUNGALOW IN IKOTUN.BUT BEING AN ARCHITECT I HAVE DESIGNED THE HOUSE IN SUCH AWAY THAT FOR NOW SINCE IM THE ONE LIVING THERER IT SERVES ME AS A 4BEDROOM BUNGALOW WITH TWO LIVING ROOM BUT WHEN I MOVE OUT FROM THE HOUSE IN THE FURTURE IT WILL BE DIVIDED INTO 2 APARTMENTS OF 2 BEDROOMS EACH WHITHOUT BREAKING MUCH WALLS OR SPENDING SO MUCH ON RENOVATION AND I WILL START MAKING MONEY FROM COLLECTING RENT FROM THE TWO TENENATS I WILL HAVE BY THEN. |
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