₦airaland Forum

Welcome, Guest: RegisterLoginWith GoogleTrendingRecentNew

Stats: 3,330,976 members, 8,448,061 topics. Date: Sunday, 19 July 2026 at 04:37 PM

Toggle theme

Why Most Nigerians Run Out Of Money Halfway Through Building Their House - Properties (2) - Nairaland

Nairaland ForumNairaland GeneralPropertiesWhy Most Nigerians Run Out Of Money Halfway Through Building Their House (14253 Views)

1 2 3 Reply (Go Down)

Re: Why Most Nigerians Run Out Of Money Halfway Through Building Their House by Afonja007: 12:47pm On May 12
Is not easy to build nowadays besides your building engineer won't tell you everything so you don't run away until you start the building grin
Re: Why Most Nigerians Run Out Of Money Halfway Through Building Their House by obitrac: 1:09pm On May 12
Urgent1Million:
Very true!
Last year, I was given an "estimate" by an experienced builder.
In his words, "I assure you that this money will not finish before we finish building the house".
So far, I have spent an additional 6 million and they haven't finished.
I would have suspected them of cheating me except that my first son is personally supervising the project and buying materials himself.
your first son need money 2
Re: Why Most Nigerians Run Out Of Money Halfway Through Building Their House by yomi531(m): 1:15pm On May 12
Sonofgod1990:
That exactly what happened when I was building my hotel in imo state. But God letter Saw me through




Arsenal 0 vs Burnley 2
Winch😀
Re: Why Most Nigerians Run Out Of Money Halfway Through Building Their House by heykims(m): 1:18pm On May 12
Sonofgod1990:
That exactly what happened when I was building my hotel in imo state. But God letter Saw me through




Arsenal 0 vs Burnley 2
And u don't want that same God to see Arsenal through huh
Re: Why Most Nigerians Run Out Of Money Halfway Through Building Their House by Mccullum: 1:36pm On May 12
Very good write up, nice one from the writer.
Re: Why Most Nigerians Run Out Of Money Halfway Through Building Their House by professore(m): 2:07pm On May 12
Nice
Re: Why Most Nigerians Run Out Of Money Halfway Through Building Their House by femi4: 2:12pm On May 12
Its inflation not their fault

How can you start a foundation when cement was 3k n now doing finishing when it is 13k
Re: Why Most Nigerians Run Out Of Money Halfway Through Building Their House by gtassure: 2:17pm On May 12
HacheNoire:
It is solely because they did not have a working cash flow before starting.

Many Nigerians have been brainwashed to believe building a house is a top priority in the early stages of your life which is outrightly false.

No one tells them a house you inhabit is a liability, not an asset.

He makes the first 50m in his life and runs to buy land and start building, not considering when he will make such amount again, and mostly without a cash flow that can generate such in the shortest term.
I agree with you. It's a liability, but just for ten years. It becomes an asset afterthat@
Re: Why Most Nigerians Run Out Of Money Halfway Through Building Their House by Urgent1Million: 2:25pm On May 12
obitrac:
your first son need money 2
🤣🤣🤣
Yes, he does.
But so far, I haven't had any doubt about his purchase.
Re: Why Most Nigerians Run Out Of Money Halfway Through Building Their House by Win12345: 2:31pm On May 12
You tear has now began Arsenal 4 0 Butnley
EPL will be won officially next monday
Sonofgod1990:
That exactly what happened when I was building my hotel in imo state. But God letter Saw me through




Arsenal 0 vs Burnley 2
Re: Why Most Nigerians Run Out Of Money Halfway Through Building Their House by ELKHALIFAISIS(m): 2:35pm On May 12
Nigeria is only country their government don't help to build, as emirati here are your benefits

1 free land for all Emirati
2 1m USD no interest loan to build house
3 1m dirham as married gift
4 free hospital and surgery of any kind
5 salary not less than 15,000 dirham
6 Free education to master degree, if you are brilliant, they sponsored you abroad for master
7 accessible to no interest loan of 1m USD
Etc

Just tell me one thing we are benefiting as Nigerians
Re: Why Most Nigerians Run Out Of Money Halfway Through Building Their House by RealityKings1: 2:36pm On May 12
Sonofgod1990:
That exactly what happened when I was building my hotel in imo state. But God letter Saw me through




Arsenal 0 vs Burnley 2
Wow wow wow congratulations sir.
What is the name of your hotel
Re: Why Most Nigerians Run Out Of Money Halfway Through Building Their House by Sonofgod1990(m): 2:39pm On May 12
RealityKings1:
Wow wow wow congratulations sir.
What is the name of your hotel
King David Lodge and suite
Re: Why Most Nigerians Run Out Of Money Halfway Through Building Their House by HacheNoire: 2:50pm On May 12
gtassure:
I agree with you. It's a liability, but just for ten years. It becomes an asset afterthat@
Except one is building a hut. Which house would one build and recoup cost and maintenance in 10 years?
Re: Why Most Nigerians Run Out Of Money Halfway Through Building Their House by Bluearrow: 3:10pm On May 12
Sonofgod1990:
That exactly what happened when I was building my hotel in imo state. But God letter Saw me through

Arsenal 0 vs Burnley 2
Hotel is such a big project
At a point u will keep questioning yourself why u started in the first place. Building a house can be very draining.
Re: Why Most Nigerians Run Out Of Money Halfway Through Building Their House by NovusHomo(m): 3:13pm On May 12
obitrac:
your first son need money 2
grin grin grin
Re: Why Most Nigerians Run Out Of Money Halfway Through Building Their House by Naxtrad(m): 3:22pm On May 12
I did such mistake by building a 4bedroom duplex in front and at the back a 2bedroom upstairs and a big sitting room and a room downstairs(For rent). Business became slow because of increase in fuel so I moved into the 4bedroom duplex(80 percent completion: painting and water tank stand plus soakaway are what's left ). I should have diverted the money I used for the 2 and 1 bedroom at the back into another business by now I won't be struggling with funds.
Re: Why Most Nigerians Run Out Of Money Halfway Through Building Their House by Josywhyte: 3:36pm On May 12
I hate number 3 with passion
Re: Why Most Nigerians Run Out Of Money Halfway Through Building Their House by Bluearrow: 3:44pm On May 12
Naxtrad:
I did such mistake by building a 4bedroom duplex in front and at the back a 2bedroom upstairs and a big sitting room and a room downstairs(For rent). Business became slow because of increase in fuel so I moved into the 4bedroom duplex(80 percent completion: painting and water tank stand plus soakaway are what's left ). I should have diverted the money I used for the 2 and 1 bedroom at the back into another business by now I won't be struggling with funds.
Chai it was a big mistake
It is always advisable not to spread hand on more than one project at a go, it is better to complete one, observe your finance before starting another one. Building a house in this country is capable of reducing one to nothing. You will deplete all your savings & the house will still be far from completion. At a point u will start envying people living in rent, because house project will almost take away your peace of mind.
Re: Why Most Nigerians Run Out Of Money Halfway Through Building Their House by IDERAWOLE(m): 3:57pm On May 12
Sonofgod1990:
That exactly what happened when I was building my hotel in imo state. But God letter Saw me through




Arsenal 0 vs Burnley 2
What has Arsenal got to do with your uncompleted house?
Re: Why Most Nigerians Run Out Of Money Halfway Through Building Their House by Sonofgod1990(m): 3:59pm On May 12
IDERAWOLE:
What has Arsenal got to do with your uncompleted house?
The house is complete now. I'm just happy because arsenal will not carry any cup
Re: Why Most Nigerians Run Out Of Money Halfway Through Building Their House by 10kgod(m): 4:11pm On May 12
ELKHALIFAISIS:
Nigeria is only country their government don't help to build, as emirati here are your benefits

1 free land for all Emirati
2 1m USD no interest loan to build house
3 1m dirham as married gift
4 free hospital and surgery of any kind
5 salary not less than 15,000 dirham
6 Free education to master degree, if you are brilliant, they sponsored you abroad for master
7 accessible to no interest loan of 1m USD
Etc

Just tell me one thing we are benefiting as Nigerians
Insecurities left and right
Re: Why Most Nigerians Run Out Of Money Halfway Through Building Their House by 3kay945(m): 4:23pm On May 12
Dogalmighty17:
That stuff about stealing wires and cement is so true. A friend of mine started his wiring and left. He was so excited while telling us. Before the next morning, boys had gone into the property and stripped all the wires out. Plus a huge bundle of wires that were yet to be utilised. He left the receipt along with them. You can imagine how much wire thieves will get selling brand new wires with receipt of ownership.

Or is it the one that dug borehole, installed the pump, tested it and left the brand new generator on the site? Thieves pulled up the borehole and and also made away with the generator.

E go be like story to you until you encounter am.
Who dey leave machine inside borehole when they are not ready to pack in?

Na learner be that.

It is a pity though.

I have seen also where those aboki went into someone abandoned property and broke the linted to remove the iron inside. Isnt that evil?!
Re: Why Most Nigerians Run Out Of Money Halfway Through Building Their House by 3kay945(m): 4:33pm On May 12
Telltruth123:
It is not easy, I am thinking of how to clear the weed in our parlor because I don't want snakes to hide there, we are already living in one of the rooms.
To get light is not easy, we have been living there for the past two years without light, the community are demanding N280,000 before we can take light. People are not giving water,I think it's because of the high charges on light before somebody can give you bucket of water, you have to beg and borehole drilling is N300,000 and you will use light to pump water it now looks as if life is hard.
So sorry to hear this. But you have to try and get things done cos the price are shooting up everytime. Dig well if borehole is expensive then. If the amout said for borehole is correct then water isn't far from you.
Re: Why Most Nigerians Run Out Of Money Halfway Through Building Their House by Farmsolution: 5:19pm On May 12
The only issue I see is leaving the sincere professionals who wants to earn decently and patronizing the family , brother construction supervision team.. all of hem are wack. They will fleet you down to your pant and we will continue to look away.
Re: Why Most Nigerians Run Out Of Money Halfway Through Building Their House by Telltruth123: 5:32pm On May 12
3kay945:
So sorry to hear this. But you have to try and get things done cos the price are shooting up everytime. Dig well if borehole is expensive then. If the amout said for borehole is correct then water isn't far from you.
Thank you very much, we tried to do well, they told us that there is rock underneath that is why we didn't see well in our area.
For the price of the borehole, some charge N700,000 but the cheapest is N300,000. People are not ready to give water, no government water and nobody is selling water we beg to get buckets of water.
There was a day we bought 3 litres of fuel and gave our neighbor to put in their generator so that we can fetch one drum of water, they returned the fuel and gave us 3 buckets of water and lock their tap.
Haa, water is very important, if my neighbors are pumping their water and is wasting away, I always feel bad honestly.
Re: Why Most Nigerians Run Out Of Money Halfway Through Building Their House by Burob: 5:34pm On May 12
ogolemati:
grin grin grin grin grin grin grin grin grin grin grin grin I didn't see helinues and the newly recruited agbero burob
Mention the names again, make the people know who dey frighten u, Mr emoji laughing man, mention their names again?
Re: Why Most Nigerians Run Out Of Money Halfway Through Building Their House by Cousin9999: 5:36pm On May 12
Seems like poor planning. Also, it seems like some people want to build a palace instead of a home. Some estimates are that you can build a decent bungalow for ₦12-20M.
Re: Why Most Nigerians Run Out Of Money Halfway Through Building Their House by 3kay945(m): 5:52pm On May 12
Telltruth123:
Thank you very much, we tried to do well, they told us that there is rock underneath that is why we didn't see well in our area.
For the price of the borehole, some charge N700,000 but the cheapest is N300,000. People are not ready to give water, no government water and nobody is selling water we beg to get buckets of water.
There was a day we bought 3 litres of fuel and gave our neighbor to put in their generator so that we can fetch one drum of water, they returned the fuel and gave us 3 buckets of water and lock their tap.
Haa, water is very important, if my neighbors are pumping their water and is wasting away, I always feel bad honestly.
The Lord is your strength 💪
1 2 3 Reply

House Owner Shares The Moment Flood Invaded Their House (pics/video)Is It Good To Share Equal Amount Of Money For NEPA With Your Landlord?A Couple Who Sold Their House And Business To Live On The Open Road In A Convert234

Fire Razes Down Richbam Filling Station,Bariga Lagos(photos)Bag Of Cement Climbs To ₦11,000Urgently Needed - Current Market Price For Aluminium Roofing Sheet