₦airaland Forum

Structures will always depreciate in value but land will always appeciate. But to protect your structure against uncertainty like collapse, fire outbreak et al, is always advised to insure your home. Insurance gives you peace of mind when uncertainty occurs.

bixton:
If there are any estate management professionals here they can come up with a response.
This topic is slightly two way traffic. Houses have a depreciation value. It's the land that actually appreciates.

A clothe is an asset depending on how is used. Dressing up in suit to attend a business conference will likely gain you more attention and connection, because you look like a business person which in turn generates money for you but dressing so boyish will instanstanly send a message to the attendees. However, dressing that same bouyish to a club will attract you chicks which in turn takes money from your pocket without adding no value nor money to your pocket. It boils down to how you use it.

bixton:
A clothe is not an asset per se. Except its an antique.

No, when it takes money from your pocket without adding value or money to your pocket. Eg, side chicks

keziah123:
Liability when it's for comfort and luxury.

Above all is cheaper building it yourself than buying no matter the desired features.

EgunMogaji:
Reasons why I'm building my own house.

1) Spiritual: For me, in Nigeria, I cannot buy a house to live in that I don't know what it was built on. I'll live it at that.

2) Location: I like living in suburbia, not really a city dweller. In fact, I don't think that I moved far away enough. I am surprised at the fast pace of development in my area. Maybe I should have gone to Idi Ayunre.

3) Design: The overall layout, starting with the compound, is very important to my lifestyle. Also going inside the house it becomes more important. Where is the master bedroom located, do the rooms have toilets in them like a gademn hotel, is there a stupid washi hand basin slapped into the dining area? Was good flow considered, both for air and people?

4) Architecture: I hate roman pillars with a passion. This and other mismatch designs drives me batty. I need specific things like attached outside areas like a patio, courtyard, etc. Most homes in Nigeria do not have it though some have balconies.

5) Finishing: Some interiors look like a catalog of whorehouses. Mismatch of colors on walls and tiles. I'm talking really gaudy stuff. The kicker is that vast amount of money were spent on most of the ridiculous and tasteless stuff.

6) Quality of Materials: Once I saw the quality of blocks in 2 or 3 places in my area I knew that I couldn't trust them. How many times have we also seen columns that were built on top of blocks? The current trend now is columns without baskets?

So those are the reasons why "I" chose to build rather than buy. If I bought then I would have to make major changes, most structural, which will not make sense.

The reason I asked this question is that I see a trend where some members are being derided for trying to do things a certain way on their site. If I don't want a high standing tower on my site, it's my right and pleasure. We all have a need to fill, if not we can all be very comfortable in a tatched or mud hut. It will do the job of protecting us from the elements.

Now onto answering your question.

Yes, a residential house is indeed an investment, but only when built properly and with a purpose in mind.

Most real millionaires, not the fraudulent ones that abound all over the place in Nigeria made it mostly from real estate investment.

Thank you, Sir.

Papiikush:
I don sight better client for this thread.

Make I go meet baba for the latest jazz

Ewoooo! My belle ooo, laff won kill me.

AngelicBeing:
Exactly, you took the words out of my mouth, documents all the citizens of the federal Republic of Nigeria via national identity card or SIN, provide the basics, good roads, power supply even if it is for 12hours daily, provide adequate security and effective / efficient ambulance services incase of emergency, let the citizens have access to basic primary health care, once you do that, go ahead and tax my income monthly or biweekly, I am cool but if I provide everything myself, I will not pay a nickel, on a lighter note, are you sure the taxes will not be swallowed by a cow, goat or serpent?,

Example, UK earn through tax but still far better than Nigeria. Give me basic amenities and tax me, I will gladly pay.

FrankNetter:
In the end, I've gradually backed away from my nigerian Facebook account lest it begins to look like I'm a snub or I'm "carrying shoulder up"

How about those girls sending you unclad pictures.

abdulwastecx:
But look at it from a different perspective, the water you are tapping from below the ground is a natural resources that belongs to the state.

Your drilling activity can cause long time problem such as earth movement etc. In reality, you actually using up a very scarce resources called underground which the government have the right to tax you.

Very funny. Very soon, they will start taxing residents for the air they breath since is also a natural resource or is it man made.

emmybiz:
Sir,do u know where I can lease land with nearby stream at cheap rate around Awka
let's chat on whatsapp 08084637475

Are you still interested. chat me on whatsapp 09075090771

TLAX:
Is this still available?

I have lands for sale. Chat me on whatsapp 09075090771

EgunMogaji:
Please define Smart Lock.

The 2nd generation August smart lock.
A smart lock is an electromechanical lock which is designed to perform locking and unlocking operations on a door when it receives such instructions from an authorized device using a wireless protocol and a cryptographic key to execute the authorization process. It also monitors access and sends alerts for the different events it monitors and some other critical events related to the status of the device. Smart locks can be considered part of a smart home.
Source-https://en.m.wikipedia.org/wiki/Smart_lock

Is like that in place like San Francisco.

BlowJobs:
E shock me too. I found out AOS is pretty fsst aound here. Like i said immigrants no plenty around here. Na so so white (mostly Americans) people everywhere.
Average processing here is like 3 months.

Or maybe cost of buying data for home WiFi in case of unlocking the home when not around for a third party.

AngelicBeing:
So many reasons could be adduced to it but lack of efficient and constant power in Nigeria or epileptic power supply or even none for months in some areas, in view of that, I think most home owners will tilt to using something that will not give them too much headache

What could be the reason why smart lock is not commonly used in Nigerian homes.

In less than five years, the place will be a commercial hub and lands there will be as high N10M per plot or more. That's the power of seeing and investing in the future.

AngelicBeing:
l didn't like the idea initially when my friend suggested it to me but I took out time to visit the place myself and I was overwhelmed with what I saw in that area, Obasanjo, Winners Chapel and several companies bought thousands of acres of land in that axis, from Agbara estate to igbesa axis they have Unilever, Flourmill, Glaxo smitkline, Nestle foods just to mention but a few and over 200 SME's are scattered all over that axis, power supply is better than Lagos which is one of the main attractions for investors into that area, and the support given by Ogun state government to attract them into the state,

The only draw back l witnessed is bad roads which I think the government of Ogun state should address more because attention seems to be focused more on Abeokuta in terms of road rehabilitation but despite the bad roads, I am shocked that more companies are flocking towards that igbesa axis. lol, I guess the bad roads means nothing to them

SkinnyNigga:
Marry whitey...
Or you marry a naija girl and keep her in Nigeria.. Come back every two years to get her pregnant.. She can be visiting with the kids..

As your imported goods. Anyways, many girls wouldn't mind if you come back every ten years to pregnant her so long as they are marrying Yankee husband.

SkinnyNigga:
Marry whitey...
Or you marry a naija girl and keep her in Nigeria.. Come back every two years to get her pregnant.. She can be visiting with the kids..

Lol, as your imported goods. Anyways, many girls wouldn't mind if you even come back every ten years to pregnant her so long as they are marrying Yankee husband. Who sai!

You really made a good choice not waiting till people start building skyscraper before you buy but because of future prospect in the area just as i was telling spyder880.

AngelicBeing:
A family friend of mine bought 24 plots at igbesa at Ado Odo /ota local government area of ogun state, l went to the place to see things for myself and I bought several plots as well at 400,000 / per plot early last year, my family friend bought his lesser than mine, I bought not necessarily for farming and I was attracted to the area because of the Ogun state / China free trade zone, igbesa polytechnic, Crawford University, and several companies situated in that axis.

One man food na another man poison.

MackyNaija:
This might make sense in naija since it is one of the highest paying sectors, the situation is different here.

Every Nigerian guy's dream is to work in oil company. Now you come see work you dey run.

MackyNaija:
Fracking still make sense here, one na M/LWD (no serious loggin happening where he works - just gamma) and the other na Fracking but na operator (almost concluded his move to MLWD).

If I see job for flow station (production work) I go collect. As for 'upstream', my hand no deh.

Just imagine bush work for December and January cold.. E nor make sense since blood money no deh involved again.

Please check your pm as regards this.

MODALSOUL1:
where are the cheapest lands in Nigeria? I prefer the remote cheap lands and also prefer to purchase in Acres,not plot .

Enter middle east, there's high demand construction workers.

chubbyG:
Quick question
@blowjobs @Mackynaija
please you guys should help me out on steps and preferred country to go...and possible budget
I have a degree in Building Tech..(so I'll love to go to a country with good construction industry)
I'll start service this year

So can you please give me a break down on what I need to know?

Abeg, this country Don tire me

Any planned estate where people are already building should cost more than 5M in most part of Nigerian except in places like borno and yobe state if the area can developed in the next five years, is not a big deal. Besides the present lekki formerly known as Maroko didn't develop overnight, it was envisioned over 20years ago. What matters is the prospect of the area. I believe with time more development will commence in your estate.

spyder880:
Thanks for bringing this up, I marketed my lands aggressively, and the first one was sold out in less than 6 months when I didn't do any radio/TV adverts or print fliers. I stopped a lot of people from paying and even returned money to some people who couldn't complete their payment at the agreed time. The second estate moved fast too, but I chose to reserve a lot of plots for future development. The lands were cheap, but not is an already well developed zone.

My main problem is with speedy development of the area. Attracting plot owners to build will need infrastructure and the cost is staggering. So I decided to change tactics, I even tried selling a good house of mine to speed up development in the estates so people can build immediately. Now the road to the area is being constructed by the state government. So I wait a little.

But my next estate must be in a well developed area where we can move and start building immediately, but can people buy in this tough economy? Not many people can afford plots for upwards of N5 million in Nigeria of today. I also have plans to start single building development for sale very soon.

EgunMogaji:
I'm completely in support of it all. I won't be a participant even if I had the resources because I don't do anything Lagos. I think it's just a horrid place for someone to exist when there are choices littering the country.

1) Looted Money: I do support what they are doing because it will bring looted money back home for investment and freshly looted money can be kept here instead of being taken to Dubai, Singapore, etc Additionally, I'm not close-minded enough to think that legitimate earners wouldn't be able to afford to live in there.

2) Trickled Down Economy: Yes, Iya Alata @ Idumota may not get to live in there and she has no God-given right to live in the choosiest neighborhood in Nigeria (this is one of Nigeria's issue, this idea that I have to be like A to feel accomplished. Even on here on this thread, this ratlike thinking exists in some). So there will be:

2a) Direct Services: they will need drivers, cooks, maids, elevator people, grounds maintenance people, hvac service people, etc

2b) Indirect Services: they will need places to shop, dine, lounge, school,

3) Tax: Lagos state is on a tax revenue binge and the taxes that they will get from that area would be immense. They would use this tax in other areas of the state for developing infrastructure.

I tend to look at thing from a glass is almost full persepctive and chose the outlook of the best in people and things.

There are already schemes for low cost living in other areas like Ikorodu, Epe, Mowe, etc If state/federal puts in a subway from Shagamu to Obalende then it will ease things (that is an easy less than 30 minutes trip in developed countries). So everything in due time.

Anyways that is some of my thoughts on the project. I'm happy for the investors because they stand to make immense financial gains while some whinge about security/power/etc. As far as I understand [b]every single plot has been sold even before they have reclaimed the land from the sea as expensive as they are. How many of Spyder880 plots are sold before he has cleared the land? None.[b/] The way rich people think is different from the middle class.

Enjoy. It's Friday.

The question will now be, "how many have built houses and are living on those excessively expensive land. Very few, about 20% as I mentioned earlier and majority are politician. That's why I called those place, "ghost neighborhood" It could be that the reason Spyder880 didn't sell much before and after clearing the land was that he didn't market his product very well. Estate developers knows how to fine tune their properties with rich graphics on both electronic and print media. The middle class will always want to be like the rich.

It will be good if any expert in the house can help analyse the prospect of investing billions in buying properties in eko atlantic, banana island, orange island, asokoro, maitama considering the state economy. Why should prospective investors invest a huge money in those locations. I believe that was the reason for all these debate.

I never intend using words of Donald Trump, intact, I never liked that man for the reasons you mentioned and more. But the truth be told, the country is in shamble. An as for religion, many Nigerians are over religious but morally bankrupt. How many Nigerians will fail and rise up again. Average Nigerians see failure as the handwork of the devil or he/she will believe the uncle in the village caused the failure. Rather than a medium of learning something new. Many Nigerians spend so much time to fast and pray but never spend a time to add value to him/herself. People need to change their thinking before the country can be better.

Daboomb:
That you chose to 'parrot' the language of Trump, someone who is renowned for bankcrupting/killing business, over and over again, someone who is renowned for cheating the poorer folks by not paying his 'due tax' (using legal loopholes), someone who is renowned for abusng women as an 'object of his depravity',.... shows you are not different from every other Nigerian, morally bankcrupt!

You can quote George Washington, Thomas Jefferson, Reagan, Clinton, even Obama and many more intelligent American Presidents.............. but to be parroting Trump of all people, a probably, mentally-unhinged, running-mouth dude, usimply becaue he is insulting your country of birth, is an indication of


Also, you are mixing-up 'religiosity and spirituality'.
Nigerians are likely the 'most religious people' on earth, churches and mosques every where.
Religious 'noise' throughout Sunday and on very early hours of the day when children are supposed to be sleeping, not to mention the Fridays or the shennanigans they do along the Lagos-Ibadan express way!

Mouthing 'earth-shattering but practically ineffective prayers' on things God has given us the 'mental power' to resolve ourselves!

But that is where it ends.
Nigerians are very far-away from being 'spiritual'.
Spirituality is your personal relationship with God (or a higher being that you beleive in).
Spirituality controls all facets of your life and make you a better person and you not only affect your environment positively, you also have an 'elevated, inner consciousness' that would not make you do all the corrupt things that Nigerians, even the so-called "men-of-god" and Islamic sheiks are deep into - looting public funds, taking advantage of weaker ones, sexual misconducts, ritual and inhuman killings, kidnapping, e.t.c.

Let me conclude by saying that Nigerians are good at 'mouthing religious regurgitations from their Holy books', showing-off in religious attires and building religious monuments, just like the Pharisees but their heart is very far from God.

Average Nigerian has the mindset of the easy way of making and in Nigeria politics is the highest paying job. No wwonder Fela said in his song, "politics na big big business." Only in Nigeria you see politicians ranking as billionaires. An average Nigerian job seeker would rather apply for a federal government job that pays 30k than a private job that pays 50k because, there is always a means of earning illegally through back door that cant be done in a private establishment. it boils than to changing the mindset of "easy way"

GoodFaith:
You failed to address the greatest issue in Nigeria corruption and me and my family mentality of stealing Nigerian people money
Nigeria regression state not moving forward
Nigerians are hard workers but we have the DNA of greed, stealing Nigerian money
Last Christmas Nigerian was not able to visit family why No gas "petroleum"
Few people have the money
96% of us live in poverty
Why are people leaving Nigeria ?
We need to stop lying to ourselves that we are developing nation moving in the right direction

"Honestly, Nigeria is the reflection of our unpatriotic self. Finally, Most people complain of Nigeria not being good, but the money they spent to ship their family abroad was not made abroad but in Nigeria to start with!!!"----- Not really some family had to take loan to send their kids away
the kids come over here to work and repay the loan
My brother had to remind me that lot of families don't have any source of income that their Son and daughter have to send money home to pay rent and feed
Your experience is great that is not the experience of 96% of Nigerians
U writing this from your lekki Mason

Those fence in Beverly hill are mostly for aesthetic. Security is already guaranteed. The cops are there to respond to emergency withing 2mins, but Nigerian police will give reason of having fuel yet there is annual budget for police.

Idealer:
Real funny. Actually gated communities are a big thing in the US. Usually costing more. I hate them because it is so much stress punching in pass codes at the gate each time. I simply tail someone behind when I can and that is exactly how the bad guys get in too.

Probably because 5% of the populalace who control 95% of Nigeria's money can afford it where as the remaining 95% are either low-middle class or poor. what a country.

EgunMogaji:
I've also heard similar about Abuja. I wonder what's the cause.

One of the major causes of Nigeria's corruption is early discovery of oil. The elite saw it as a quick wealth without putting much effort to earn. Is like giving a range rover sport for a 16years old teenager. What do you expect from the child fun, easy life, pleasure, flirting and that's what is happening. Moral culture wasn't instilled in the people.

GoodFaith:
First step -How can we stop corruption and Greed of Nigerians including me?--Blood will stop it
How can we teach Nigerians to follow rule?---Fear will work

But still the country is a shithole. Every thing is corrupt from home to institutions, including the air we breath is corrupt.

Daboomb:
The above might be right about Nigeria but...

I mean, are you safer, say in America?

or is it not the same America, despite all the light, good roads, security, e.t.c, that people get murdered in large numbers, almost on a weekly basis?

Be it in Schools, on the Beach, at a Discoteque, just name it and there is a mutherfucker with an Assault Rifle, spraying bullets indiscriminately.

And to make it worse, if "you" are dark-skinned (l did not say "Black" like Trayvon Martins or other black folks used as 'target practice' by either Caucasian Police or their racist, White supremacist friends who think just because your skin is dark, you deserve to be mowed down like a chicken, then you are better-of dying in Nigeria!

In Nigeria, you are certain you wont ever be killed by the Police or some random person ...just for the single reason that the color of your skin is "dark"!
You can even negotiate with thieves afterall, they are in business to make money.

If l am shot in a robbery, l know they are after my money
If l am attacked on the streets, maybe they want my Phone or that Gold chain (l wont carry it or put it on next time)

...But to be shot by my neighbour, who l have no grudge against or the Police/neighbourhood watch, ....just because l am 'dark skinned' and dont look like them, is most dehumanising!
and it would be most ignorant if one does not know that they cant do a damn thing about the color of their skin.

Seriously, l love my Nigeria-die.

Nigeria is the most spiritual country and most morally and ethically bankrupt

GoodFaith:
Just electricity Please
Good water NO
Roads
Security
Healthy Care
Corruption will kill all Nigerian including me
Selfish nation and people
electricity was better off 30 year ago
We are moving backward
We had less churches 30 years ago
Today we have more churches
Pure Evil