Kopell baba, you can phone a friend to come and help you out.

Na wa o!

folmus:


Oya tell us the price for today.

Nigerchin
1.5mm 21,500
2.5mm 34,600
4mm 53,500
6mm 79,000
10mm 136,000
16mm 206,000

Kooell baba 🙌

Even you chose to spend N1m on each of the item listed below which is outrageous amount to spend on a 1 bedroom apartment and splash 5m on structure, you won’t still get to N20m

1. Structure
2. Block Wall/Partitions
3. Plastering
4. Wall Screeding/Painting
5. Electrical
6. Plumbing/Mechanical
7. WC/Toilet
8. Doors 5
9. Windows 5
10. Tiles (floor and wall)
11. Ceiling Finish
12. Wall Sconce/Light fittings
13. Kitchen
14. others


Interesting circle!

n3xt:


I don’t know but with what I’m doing I don’t see us exceeding N120m

And those taxes, administrative charges blah blah, you won’t spend up to N20m. I keep receipts of all these things and I know what I’m saying.

I just paid 400k for NDT this morning and it’s not like I’ll be paying it every month. It’s one off

The footprint is not more than half plot of land.

Calculating per square meter is not a new concept. Every house in the US is calculated and sold that way. Even more than 20 years ago, as a first time home owner, it was done that way ( This is by the way ) .

I drew my inference based on the information you presented earlier . See below.
Let me explain and you make the conclusion
You stated that those units were sold for #30M last year.
Now, it is #40M
That is #10M difference which represents about 33% increase ( as a result of inflation , and not increased profit margin)
So 33% increase in cost from that last year, will amount to what for the current cost of construction?
Don’t tell me you could do it for #80M last year, that is if we base it on your current #120M quote (33% of 120. )

In addition to its specialized techniques, prestressed concrete is complex and expensive.
It allows for longer spans lengths, Smaller section /depth , Crack Control and material savings.

rotecch77:
Let me quickly give simple explanation about PRESTRESSED CONC,as I said yesterday.

prestressed concrete involves the stressing of wires or cables ( aka Tendon) by anchoring them at the end of a metal form, which may be up to 120 m in length. Hydraulic jacks stress the wire as required,

This method doesn’t used regular iron rod, the tendon arrangement also is totally different to normal reinforced concrete.
We have 2 method of prestressed conc
1 Pre-tension method
2. Post-tension method

PRE on prestressed conc doesn’t mean PRECAST conc,
All precast conc doesn’t mean they go under prestressed method of conc formation.

See attached pics of prestressed concrete system

sonnie10:

Calculating per square meter is not a new concept. Every house in the US is calculated and sold that way. Even more than 20 years ago, as a first time home owner, it was done that way ( This is by the way ) .

I drew my inference based on the information you presented earlier . See below.
Let me explain and you make the conclusion
You stated that those units were sold for #30M last year.
Now, it is #40M
That is #10M difference which represents about 33% increase ( as a result of inflation , and not increased profit margin)
So 33% increase in cost from that last year, will amount to what for the current cost of construction?
Don’t tell me you could do it for #80M last year, that is if we base it on your current #120M quote (33% of 120. )

I won’t be able to go deep into this but if you check that post very well, I said the more apartments, the merrier.

I explained this thing in details to somehow last week while we were chatting.

Construction didn’t start until April 2023 and we’re not building with borrowed funds.

Lastly, our new price is determined by the price of real estate in the neighbourhood.


========

I’ve further break it down by listing out various construction works that needs to be done on the project.

Can you pay N1m to paint just one bedroom apartment??

n3xt:
Kooell baba 🙌

Even you chose to spend N1m on each of the item listed below which is outrageous amount to spend on a 1 bedroom apartment and splash 5m on structure, you won’t still get to N20m

1. Structure
2. Block Wall/Partitions
3. Plastering
4. Wall Screeding/Painting
5. Electrical
6. Plumbing/Mechanical
7. WC/Toilet
8. Doors 5
9. Windows 5
10. Tiles (floor and wall)
11. Ceiling Finish
12. Wall Sconce/Light fittings
13. Kitchen
14. others


Interesting circle!

Bosun, all these things you listed and deliberately dodged the main money gulper, why?
We are talking about a four floor building and you avoided foundation and the decking cost for each floor calling it “structure” like it’s a bungalow

sonnie10:

Bosun, all these things you listed and deliberately dodged the main gulper, why?
We are talking about a four floor building and you avoid foundation and the decking cost for each floor.

Wetin be structure wey I put N5m?


N5m x 9 units = N45m 😂

After this, I’m pushing for another 2 floors elsewhere on the property.

The more apartments, the merrier.

This is it!

Please feel free to ask any question? I’m willing to provide answers.

Thank God there are professionals and QSs here to prove me wrong 🌚

This is what they don’t want because I’ll lay everything bare.

No bojuboju

Aforzy mama, I hail o!

All my columns from Ground - 3rd floor are 20mm and the smallest column base on the structure is 2100 x 2100mm

So no game game.

All my beams are 600mm so it’s not small boys game.

Even at this, you won’t spend N20m

Aforxzy:
In addition to its specialized techniques, prestressed concrete is complex and expensive.
It allows for longer spans lengths, Smaller section /depth , Crack Control and material savings.

If it is not done on site or in situ, can we call the prestressed slab, precast?

sonnie10:


If it is not done on site or in situ, can we call the prestressed slab, precast?

Prestressed concrete stand on its own, so we can have it precast or cast in-situ( on site )
Only that 90pec of its done off site

Same as regular reinforced concrete Pre cast and on site cast method

sonnie10:


If it is not done on site or in situ, can we call the prestressed slab, precast?

If you want am for your next build, you can check out ITB in VI.

n3xt:
Just do the maths!

Regardless of how crazy the inflation gets, there’s no way anyone would spend 30m to finish 1 unit of one bed apartment and don’t forget there’ll still be about N20m profit per unit.
I don’t know what feature will make a 1 bed apartment attract such huge price tag though!

Life is bigger than coming online to complain about life not being fair.

Always go to the last mile. It’s rarely crowded!

It’s true BUT it’s clear that when you put all things together plus water tanks stand and All others external work the money will gulp up to 180-200m to complete this project am seen
Let just say each floor 40m*4=160m add external work and fence 10m =170m tii lor

rotecch77:


It’s true BUT it’s clear that when you put all things together plus water tanks stand and All others external work the money will gulp up to 180-200m to complete this project am seen
Let just say each floor 40m*4=160m add external work and fence 10m =170m tii lor

Even if someone put a price tag of N400m to complete this, the person may still be correct because it depends on what you’re dealing with on different sites.

My calculation is based on the following:

Land Size: 300sqm (a plot of land cost N300m + here)
Built Area: 200sqm

External Works | Costs (estimates)

Total Coverage Area = 300sqm

1. Fencing of 300sqm (note: dwarf is the in-thing now) = N2m
2. 300sqm interlock/stamped concrete flooring (N10,000 per sqm) = N3m
3. Gate: 500k
4. Septic Tank: N2m
5. Borehole/Water Treatment: N3m
6. Water Tanks will be on the roof. I won’t do 4 floors and still be looking for where to put tanks.
7. Gate House etc = N1.5m

8. What else am I missing?

9. Landscaping and effizzys = N2m
10. External Plumbing = N1.5m


Note: I already put N1m per apartment on electricity and another N1m on light fittings per apartment.

rotecch77:


It’s true BUT it’s clear that when you put all things together plus water tanks stand and All others external work the money will gulp up to 180-200m to complete this project am seen
Let just say each floor 40m*4=160m add external work and fence 10m =170m tii lor

#170M plus other fees tax and misc #20M
We are almost at the #200M . Then land another #150M,

So where is the profit, with all the wahala, risk and stress, if you are going to sell all 9 units for #360M?

The house might even not finish and sell out under one year.

Did you know that if you have your #350M in any CD at 5% interest rate that would be 17.5M while you sleep? Risk free!
If you even shop well, some banks could do up to 10% . Giving you #35M while you take a vacation.

sonnie10:

#170M plus other fees tax and misc #20M
We are almost at the #200M . Then land another #150M,

So where is the profit, with all the wahala, risk and stress, if you are going to sell all 9 units for #360M?

The house might even finish and sell out under one year.

Did you know that if you have your #350M in any CD at 5% interest rate that would be 17.5M while you sleep? Risk free!
If you even shop well, some banks could do up to 10% . Giving you #35M while you take a vacation.

Imagine that same money in gold 5 years ago

A gold ring of ₦1.3m 1 year ago now priced at ₦1.8m+.

I just dey laugh

sonnie10:

#170M plus other fees tax and misc #20M
We are almost at the #200M . Then land another #150M,

So where is the profit, with all the wahala, risk and stress, if you are going to sell all 9 units for #360M?

The house might even not finish and sell out under one year.

Did you know that if you have your #350M in any CD at 5% interest rate that would be 17.5M while you sleep? Risk free!
If you even shop well, some banks could do up to 10% . Giving you #35M while you take a vacation.

You’re very correct. In fact those doing it are just stupid. They don’t know maths

Anyway, I have over 40 units for sale sha 🌚

somehow:


Imagine that same money in gold 5 years ago

A gold ring of ₦1.3m 1 year ago now priced at ₦1.8m+.

I just dey laugh

A flat of 35m in May 2023 is now 50m in the same location and its not stopping there!

Osinachiadima global enterprise knows as Dfameguy11s dealer of all kinds of building materials such as
Spanish tiles
Indian
China
Nigeria
Sanitary Ware's
Wc
Shower
Tap and kitchen sink etc
Our new showeroom and warehouse is at No 30 Alahaji Opere street opposite wema bank beside G.U.O motor pack wema bus stop orile Coker badagry express way Lagos
Email osinachicolins20@gmail.com
Phone No : 07087953771 or 07046234748
We also know as Rockhome global enterprise

Prestressed concrete can either be insitu or precast depending on the type however because of the technicalities and expertise involved in the construction process it is more of precast than the insitu.

The pre-tensioned concrete is usually done at a workshop or factory site and later transferred to the construction site as precast unit

While the post-tensioned concrete can be cast in-situ or brought to the construction site as precast units.

sonnie10:


If it is not done on site or in situ, can we call the prestressed slab, precast?

somehow:


Imagine that same money in gold 5 years ago

A gold ring of ₦1.3m 1 year ago now priced at ₦1.8m+.

I just dey laugh

I bought a set from the Baba at Onipan ( He is the best gold smith in Lagos - Abbey Jewelers) #60k in 2007. The last time I took them to him to wash, he was willing to buy them back for #1.3M as at 2020

n3xt:


You’re very correct. In fact those doing it are just stupid. They don’t know maths

Anyway, I have over 40 units for sale sha 🌚

I thought it was 400 units you said you have?

somehow:


I thought it was 400 units you said you have?

Screenshot or aidonbelievit 😂😂

sonnie10:

I bought a set from the Baba at Onipan ( He is the best gold smith in Lagos - Abbey Jewelers) #60k in 2007. The last time I took them to him to wash, he was willing to buy them back for #1.3M as at 2020

Pure hidden wealth.

My wife would rather jump cab than miss an opportunity to invest in gold.

Always telling me about the price of gold 10yrs ago and now

Very low maintenance unlike many other forms of investments

Except for theft, but almost every investment can be stolen, so it's not peculiar to gold.