₦airaland Forum

What do you mean by this comment. I Dont seem to understand it.

Lifemanage:
Personal houses with allowance for rental spaces or apartments are assets

It’s better to buy land and keep. Just buy land everywhere you can afford. With due diligence of course.

Lekan239:
no lie, na ous wey u rent, u no dey maintain am too?..

U wan lie say since u rent that ous, u never spend or repair anything there

Write something we can all comprehend to

Thank you

Skydivine:
Please can you elaborate? Land in livable atea should not be less than 10M a plot. Even if you can squeeze in 3 units of two bed rooms flats on the plot. Completely built will gulp about #40M.
You have to live in one of them and rent out the other 2
Do you think a two bedroom in a place where land is 10M could be rented for #1.5M? ( the 2 would be the #3M you suggested)

About N3 million, might be less than that

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...

Having a building is a liability. The value only comes if you decide to sell. Plus, you can never recover your money back, no matter the rent you put on it, especially if you plan to leave it for your offspring.

I’d rather buy lands instead which I can resell later which will be worth more than building something that will become outdated later.

emmanuelewumi:
About N3 million, might be less than that

All that wahala for #3M which is about 6% ROI. There is hardly any mutual fund that do less than 15% yearly.

helinues:
Write something we can all comprehend to

Thank you

pele

Lekan239:
pele

I didn't say you should write Pele, write something all NL's can comprehend with

You can't be speaking on tongues and expect us to comprehend

MT:
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.

The guy is right ,
I’m around his age and I built a house years ago , I’m not even living in it yet( 85% completed though),
I started to realise earlier last year that I shouldn’t have built it, anytime I remember millions of naira spent on the project, e Dey always pain die., i don’t need it for now, infact, I still dey rent house .. had I know, I would have invested the money into my business and crypto knowledge , by now ehn, would have been a multi-X millionaire ..

Skydivine:
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.

what you are saying is baseless

AgentGoat:
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.

exactly

First thing✓ Buy lands, used them for farming to appreciate

✓Build house

Buy power bike/car then

seanwilliam:
The guy is right ,
I’m around his age and I built a house years ago , I’m not even living in it yet( 85% completed though),
I started to realise earlier last year that I shouldn’t have built it, anytime I remember millions of naira spent on the project, e Dey always pain die., i don’t need it for now, infact, I still dey rent house .. had I know, I would have invested the money into my business and crypto knowledge , by now ehn, would have been a multi-X millionaire ..

It's still not late nah, you can sell ham and invest it.....yeye

That is why , it is called a capital project.
It gulp money fast fast

RodgersAkpafu:
what you are saying is baseless

What is baseless ? That Igbos don’t have a lot of empty mansions in their villagers? Or that the owners of those mansions have folded their business because they built in the village?
Or that Yorubas hardly build such big houses in villages ?

Love800:
What do you mean by this comment. I Dont seem to understand it.

Build a personal house eg 3bed and maybe some flats on a plot...is a source of yearly income

Funkybabee:
It's still not late nah, you can sell ham and invest it.....yeye

actually at some point I considered doing that, but due to some reasons best known to me, I decided not to… and Moreso, I don recover so I don’t really need to, I just wished I didn’t do it that time o cos if you really know what happened during 2021 crypto super cycle , you would have understood my point..

As a single young man , if you hit it big at some point, building personal house should be your last priority ,
Invest more in what gives you the money , skills and business, rent better house for better area, then buy CAR!!!!.

Skydivine:
All that wahala for #3M which is about 6% ROI. There is hardly any mutual fund that do less than 15% yearly.

But the rental income will increase over the years rent in the last 15 years have increased by 200 and above

seanwilliam:
actually at some point I considered doing that, but due to some reasons best known to me, I decided not to… and Moreso, I don recover so I don’t really need to, I just wished I didn’t do it that time o cos if you really know what happened during 2021 crypto super cycle , you would have understood my point..

As a single young man , if you hit it big at some point, building personal house should be your last priority ,
Invest more in what gives you the money , skills and business, rent better house for better area, then buy CAR!!!!.

You are saying all this because of hindsight. Nobody knew what crypto would have done.
How many of your mates who were consistent in business only or did crypto from that time till present have the money to even build a house like yours now?

With all the inflation, huge cost of land , and expensive building materials.
There is something called passive investment. That is what you have done. And that is a near guaranteed way of building wealth.
Not crypto. Bitcoin coin went from $67k to $38k within just this last one year, before trying to Settle at $58k now. And you still wish you had invested in crypto?

Just be thanking God for his directions in your life. !

maasoap:
I agree with you. Everyone was just breathing down my neck when I had not built my house last year. When I finally did, it slowed down my business greatly and I'm still recovering till now. Left for me alone without people disturbing me, I wouldn't build anything in the next ten years. I know what 15-20 million naira can do for me businesswise

How about cost of materials in 10years time

Skydivine:
What is baseless ? That Igbos don’t have a lot of empty mansions in their villagers? Or that the owners of those mansions have folded their business because they built in the village?
Or that Yorubas hardly build such big houses in villages ?

The tone of your post, that somehow igbos are better at business than yoruba ppl
deny it all you want, that's the tone of your post and it is BASELESS.

First, not every igbo person is obsessed with building useless houses in the village
it's more of an anambra obsession imo.
I'm of igbo ethnic stock and I know myself as well as others like me who have no plans of doing so.

Yoruba ppl don't build houses in their village
this is another thing only someone who don't know what he is saying says

Have you been to Ijebu or Abeokuta before?
Is Offa a joke to you ?

Thirdly, I'll daresay (without empirical evidence) that MANY people of Eastern extraction who own homes in the village are financially struggling
some made the dumb decision to build the house before they got their finances fully in order because of status consciousness.
from my observations

To cut this story short
what you posted is baseless and looking at stuff from a narrow lens
the premise of your post is baseless

at least that's my point of view

Skydivine:
In the north, if you don’t marry more than one wife, you are a nobody
In the west if you don’t have other children outside of your marriage, you are nobody
In the East, if you don’t build a mansion in your village, you are a nobody.
To all, his own!

another baseless talk
especially with the reference to "western" ppl.

RodgersAkpafu:
The tone of your post, that somehow igbos are better at business than yoruba ppl
deny it all you want, that's the tone of your post and it is BASELESS.

First, not every igbo person is obsessed with building useless houses in the village
it's more of an anambra obsession imo.
I'm of igbo ethnic stock and I know myself as well as others like me who have no plans of doing so.

Yoruba ppl don't build houses in their village
this is another thing only someone who don't know what he is saying says

Have you been to Ijebu or Abeokuta before?
Is Offa a joke to you ?

Thirdly, I'll daresay (without empirical evidence) that MANY people of Eastern extraction who own homes in the village are financially struggling
some made the dumb decision to build the house before they got their finances fully in order because of status consciousness.
from my observations

To cut this story short
what you posted is baseless and looking at stuff from a narrow lens
the premise of your post is baseless

The tone of my voice is the tone of truth but unfortunately truth is bitter.
Abeokuta , the capital of a state is what you are presenting to be compared with village in Igbo land. I hope your know I was not even taking about Onitsha and Aba , Enugu and Owerri when I said Igbo villages. Why can’t you mention the Yoruba villages where they built mansions like Igbos? Even interior Ohafia is nicknamed little London because of the number of mansions there. And Ohafia is not even as beautiful as Umuoji in Anambra. This just a few.
You are looking for empirical evidence even when you are not blind. Go to any Igbo village and ask the people around who owns any of those mansions. I know the one around me and know their owners businesses. None is struggling, rather they are even doing better.
Igbos learn money management the practical way and not in school. No Igbo man ruins his business because he is building.
Don’t be too distracted to notice the directions of events around your environment.
Building a house in the village does not make any Igbo man poor.

RodgersAkpafu:
another baseless talk
especially with the reference to "western" ppl.

Name one Yoruba man or woman you know that does not have a child or two out of wedlock. Is it Obj, Sophia manudu, Davido, Tinubu, wize kid, etc?

Skydivine:
Name one Yoruba man or woman you know that does not have a child or two out of wedlock. It is Obj, Sophia manudu, Davido, Tinubu, wize kid, etc?

are u seriously asking this question?

RodgersAkpafu:
are u seriously asking this question?

By the time I start listing their popular Daddy GOs with children out of wedlock, you would be blown off.