₦airaland Forum

Happy new year Nairalanders.

I recently got another land, but this time close to my current residence. It's a half plot 25 x 50ft.

I plan to erect a 2 BEDROOM bungalow. I'm still researching a building plan to use.

I earn well, lower 7 figures, so I'm trying to invest Atleast 500k monthly on the project. I also have some side hustle that brings in some quick bucks.

I also know that my rent will skyrocket very soon and I don't intend to pay rent after this year. My wedding is November and I don't intend to delay that anymore.

I had saved 5m for part of this project, but I invested in a crypto project that still hasn't given me back my capital not to mention ROI.

So for people that built post-covid, can you tell us how you saved up and managed your finances during your building project ?

remi4ever:
Happy new year Nairalanders.

I recently got another land, but this time close to my current residence. It's a half plot 25 x 50ft.

I plan to erect a 2 BEDROOM bungalow. I'm still researching a building plan to use.

I earn well, lower 7 figures, so I'm trying to invest Atleast 500k monthly on the project. I also have some side hustle that brings in some quick bucks.

I also know that my rent will skyrocket very soon and I don't intend to pay rent after this year. My wedding is November and I don't intend to delay that anymore.

I had saved 5m for part of this project, but I invested in a crypto project that still hasn't given me back my capital not to mention ROI.

So for people that built post-covid, can you tell us how you saved up and managed your finances during your building project ?

Depend on your taste and location that will determine the amount.. My brother just Finishing a 3 bedroom here in one village in Ogun state all room ensuit with Pop ceiling, a well is dig... All money spent is around 9million so far so we are looking at fence now and to concrete the compound floor that is next and that might gulp up to 6 million for 60 by 120 plot of land... It all depend on you taste for aesthetics and all.... I pray this year will be fruitful for us all

harjay1986:
Depend on your taste and location that will determine the amount.. My brother just Finishing a 3 bedroom here in one village in Ogun state all room ensuit with Pop ceiling, a well is dig... All money spent is around 9million so far so we are looking at fence now and to concrete the compound floor that is next and that might gulp up to 6 million for 60 by 120 plot of land... It all depend on you taste for aesthetics and all.... I pray this year will be fruitful for us all

Amen, thanks for your response. I'm looking at 10-12mil for a standard finishing. For the borehole, I intend to tap from someone, it'll cost me N50k yearly which is reasonable. Although, I'll buy a tank myself..

I'm still researching the building plans. A 2 bed is what I can handle for now I'm still young and can get a bigger house in the nearest future.

remi4ever:
Amen, thanks for your response. I'm looking at 10-12mil for a standard finishing. For the borehole, I intend to tap from someone, it'll cost me N50k yearly which is reasonable. Although, I'll buy a tank myself..

I'm still researching the building plans. A 2 bed is what I can handle for now I'm still young and can get a bigger house in the nearest future.

For a peace of mind don't tap water if you can have your own.. If you cant do Borehole do the local one we call it konga in Yoruba it will be dig manually with 400k you should have one with that no one will dictate to you when to pump

harjay1986:
For a peace of mind don't tap water if you can have your own.. If you cant do Borehole do the local one we call it konga in Yoruba it will be dig manually with 400k you should have one with that no one will dictate to you when to pump

Okay. That manual one, yeah?? I'll consider it... I also do not enjoy the idea of tapping water from someone else.

Are you sure 12M can build a 2bed bungalow today with complete finishing?