₦airaland Forum

STARGREEN:
It depends.

If you are a civil servant, please start building your home after confirmation of your appointment.

Remember, it's salary, it has a duration and you should not wait until retirement...it could be late.

Remember, after few years working, children start coming and will be trained.

Remember, once married additional expenses crops in mostly needs.

That notwithstanding, if you plan to run a business while working, best to set up the business running before opting for building a house in the village....yet, depending on the location of your village.

God bless you .

I am an example

victorVIC1:
I like to see property investments from retirement phase perspective. There comes a time when your physical strength and brain capacity cannot manage the troubles of running business. This is the point where I think one gets to appreciate the rents from owned properties. At this point one also gets to realise that you can't depend on pension to carry on a decent living

Building a personal house is not the problem but there must be other business running up to take care of the personal house maintenance. That's a liability

If it's investment building, then you use the money you generate from it for maintenance, that's an asset

redsun:
This house has a lovely modest roof. It's a lot better than the towering and overbearing gerad roofing design they commonly use in nigerian buildings. I tried to understand the logic of high pitch roofing, but I couldn't. They waste alot of planks and roofing sheets for a space that could have have been converted to an attic. Moreover, it hides the beauty of a house by shading like a tipi tent. .

I've seen a house with this kind roof, my brother if there is a serious sunshine you no fit stay inside that house because of heat.

Gerrard59:
A one-in-a-year annual ritual. Well, it makes sense when the person is a high-income earner who has diversified income-generating sources rather than ploughing the first investment earnings/savings into a house in the village which is visited once a year. For an employee, better to invest in highly skilled certifications which lead to higher salaries and job responsibilities than building a house in a no-economic activity area called a "village".

Igbos have been building in the village and most of them who own houses in their village are still doing very well in business.
Now, compare them to Yoruba who don’t build in their villages . Are they doing better in business than those Igbos? Do they even build more houses In the towns than the Igbos that build in the village?
The bottom line is, having a reliable source of income. The reason people make money is to derive some fulfillment from what money can afford.

helinues:
Stop trolling me

Don't you have something meaningful going on with you there to focus on?

You are number Person that has Master Degree in trolling others , Not only trolling but very insultive and Abusive

helinues:
Building a personal house is not the problem but there must be other business running up to take care of the personal house maintenance. That's a liability

If it's investment building, then you use the money to generate from it for maintenance, that's an asset

How much can you generate in a year from a #50m (including the land) house which you also live in?

Starz825:
A personal building is an asset oga... A double one sef...if U have a spare space to rent out

What U saying bro...

It's not. I could explain, but I think you're far too convinced to care.

Struggling people don't always understand this.

They used building of house to drive themselves into penury thinking they have make it in life.

Building house while you cannot live a good life with your children. some will even abandon their children schooling because of house.

helinues:
Personal house? Rent out?

Yes...you can live in a personal building and rent a part of it out...na today...

helinues:
Building a personal house is not the problem but there must be other business running up to take care of the personal house maintenance. That's a liability

If it's investment building, then you use the money to generate from it for maintenance, that's an asset

I'm in total agreement with your line of thought

MrToothBrush:
That's thoughtful. But a house can also be a source of investment. It only depends where you build it and how you built it.
I can build my first house in a city and build my second house in my Town... there are no villages anymore...

By the way, if you are currently erecting a structure in this economy, you are truly a man. The most high has been kind to you

Well said....I think we are returning to the days of buildings without tiles and returning to carpets and rugs. Building costs need to be controlled now

Georgry:


One homie made more than 30m during covid-19, I said go start something but nah! He wanted to build a house, not just a house but a standard one, he's not been able to complete the house till today and he's broke.


The problem with the people doing this is they fail to understand that we are in a different generation, the Baby boomers were the people who brought this mentality, it won't work for you Gen Z or Gen Y, your first big Savings should be used to start a business and the second savings to get a car (owing a car is good for your brand, business is all about brand now, House should come last.

It depends on environment. And source of income....building is key to sustenable wealth

money121:
D0nt be broke because you are building a home.

"You've managed to save 10 million, your first big savings, but the only thing you can think of doing is starting to build a duplex in your village? Tomorrow, you'll come out and say that your village people are after your business. Don't use your first savings or business money to build in your village. The house you build in your village is a waste of money; it won't return any income. Instead, it will set your business in town back. Building a house is not like buying a car. The money used to buy a car may not affect your business because it's a one-time expense. However, the money used in building a house can close your business because you'll keep spending until the house is finished.

So.my advice to you is to not use your first money to build a house in the village. If you must do so, learn how to build according to your earnings, like the example I posted.

How Much To build this type of house?

money121:
D0nt be broke because you are building a home.

"You've managed to save 10 million, your first big savings, but the only thing you can think of doing is starting to build a duplex in your village? Tomorrow, you'll come out and say that your village people are after your business. Don't use your first savings or business money to build in your village. The house you build in your village is a waste of money; it won't return any income. Instead, it will set your business in town back. Building a house is not like buying a car. The money used to buy a car may not affect your business because it's a one-time expense. However, the money used in building a house can close your business because you'll keep spending until the house is finished.

So.my advice to you is to not use your first money to build a house in the village. If you must do so, learn how to build according to your earnings, like the example I posted.

How many bedroom is this

helinues:
One of the yeye mentality in Nigeria.

Except a house for business, personal house is not an asset but a liability

Personal houses with allowance for rental spaces or apartments are assets

money121:
D0nt be broke because you are building a home.

"You've managed to save 10 million, your first big savings, but the only thing you can think of doing is starting to build a duplex in your village? Tomorrow, you'll come out and say that your village people are after your business. Don't use your first savings or business money to build in your village. The house you build in your village is a waste of money; it won't return any income. Instead, it will set your business in town back. Building a house is not like buying a car. The money used to buy a car may not affect your business because it's a one-time expense. However, the money used in building a house can close your business because you'll keep spending until the house is finished.

So.my advice to you is to not use your first money to build a house in the village. If you must do so, learn how to build according to your earnings, like the example I posted.

House?

Only the un-informed or misformed do that....

Some serious crazies will even rush to get a ride...


No be juju be that?

money121:
D0nt be broke because you are building a home.

"You've managed to save 10 million, your first big savings, but the only thing you can think of doing is starting to build a duplex in your village? Tomorrow, you'll come out and say that your village people are after your business. Don't use your first savings or business money to build in your village. The house you build in your village is a waste of money; it won't return any income. Instead, it will set your business in town back. Building a house is not like buying a car. The money used to buy a car may not affect your business because it's a one-time expense. However, the money used in building a house can close your business because you'll keep spending until the house is finished.

So.my advice to you is to not use your first money to build a house in the village. If you must do so, learn how to build according to your earnings, like the example I posted.

How many rooms are in that image you posted? I love the minimalist design

Karleb:
Building a house is overrated!

It is not! You will have understand when you start to build yours! If you build according to your situation, you will see that is the best thing that ever happened to you

realmindz:
People who fail in life are those who don’t understand that you don’t have to follow the advices of old generations. What works for them works in their time and things keep changing. Buying land or building houses is no longer an investment but liability. In an economy of persistent inflation and high fx fluctuations, buying a car is now an asset while buying land is now a liability

Exactly, someone close to me got a 2010 Camry XLE 6 plug for 4.7 by February, the same Car goes for around 7m currently, still people no understand.

gtassure:
It is not! You will have understand when you start to build yours! If you build according to your situation, you will see that is the best thing that ever happened to you

I don talk my own sha. I wish you all the best.

Karleb:
Building a house is overrated!

When you are grown , you will realise it’s a frustrating experience to be at the mercies of landlords, who are mostly wicked.

helinues:
So is the house now an asset or a liability?

My aged parents are enjoying it.
Don't overthink or over analyse these things.
Every normal person gets both assets and liabilities
Just try to have more of the former, and not focus o completely avoiding the later.

MT:
When you are grown , you will realise it’s a frustrating experience to be at the mercies of landlords, who are mostly wicked.

Bros, I'm 27.

My parents have 2 houses and a land between them.

Houses should be built with spare money, you shouldn't make it a main priority when there are other pressing issues.

Having your own house doesn't even give any financial reward and renting is cheap (in Nigeria).

Karleb:
Bros, I'm 27.

My parents have 2 houses and a land between them.

Houses should be built with spare money, you shouldn't make it a main priority when there are other pressing issues.

Having your own house doesn't even give any financial reward and renting is cheap (in Nigeria).

Like I said, wait till you are grown. You are still growing. You have a lot to learn in life.

Life is not simply black and white, there are lot of shades of colours in between.

Georgry:
Exactly, someone close to me got a 2010 Camry XLE 6 plug for 4.7 by February, the same Car goes for around 7m currently, still people no understand.

The car seems to appreciate due to the devaluation in our currency. Your friend will still need to add more money to buy the same tokunbo car, so that’s not appreciation.

Do you know how much land has appreciated and how much rent has gone up.

money121:
D0nt be broke because you are building a home.

"You've managed to save 10 million, your first big savings, but the only thing you can think of doing is starting to build a duplex in your village? Tomorrow, you'll come out and say that your village people are after your business. Don't use your first savings or business money to build in your village. The house you build in your village is a waste of money; it won't return any income. Instead, it will set your business in town back. Building a house is not like buying a car. The money used to buy a car may not affect your business because it's a one-time expense. However, the money used in building a house can close your business because you'll keep spending until the house is finished.

So.my advice to you is to not use your first money to build a house in the village. If you must do so, learn how to build according to your earnings, like the example I posted.

Egunmogaji2 how do you see this design?

I can only agree with the village part but if you have the money please build where your business is located even if it's small building. Rent is not a joke especially places like Lagos. Once I can save enough money, this is not a bad idea

weyreypey:
Egunmogaji2 how do you see this design?

I think it’s great and what we should be building now instead of monstrosities.

Excellent starter homes with good finishes.

EgunMogaji2:
I think it’s great and what we should be building now instead of monstrosities.

Excellent starter homes with good finishes.

Thank you sir