Buying Land Or Keeping The Money In Bank - Investment (3)

Buying Land Or Keeping The Money In Bank - Investment (3) - Nairaland

Nairaland Forum › Nairaland General › Investment › Buying Land Or Keeping The Money In Bank (9412 Views)

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Re: Buying Land Or Keeping The Money In Bank by Hangulsaram: 2:15pm On Jun 03

TheStoriesOfMan:
If you are from SE, don't buy the land.

A humble warning to you.

Why?

Re: Buying Land Or Keeping The Money In Bank by oloriokonbowa: 2:39pm On Jun 03

If the land is secure, please buy and you will give testimony in a few years

Re: Buying Land Or Keeping The Money In Bank by PAQ(m): 3:41pm On Jun 03

Who still keeps money in the bank? Buying land is good but you have to be extremely careful. Not everyone wants to go through the rigors of buying and selling land, i prefer investing in stocks, bonds, treasury bills and Money Market Funds.

Re: Buying Land Or Keeping The Money In Bank by Aragon001: 4:11pm On Jun 03

Ibechris2:
One reason I won't advice u to buy land and keep is because of Omonile menace in that region. U may buy today,another day someone would start claiming ur land as his or even build up ur space.

U are too young to waste such money now.

For me,move that money to mutual fund no matter how small it is.

Bank is a no no for me.

Pls oh, I need to understand this mutua fund and how to go about it and which firm to get it done for u.

1 Like

Re: Buying Land Or Keeping The Money In Bank by uchennamani(m): 4:24pm On Jun 03

Onkoolos:
Good morning guys, I have 545k that I saved in a bank giving me return of 7k per month, 2 months ago i saw a land available at place in ogun state after mowe ofada area. I want to ask should I withdraw the money to buy the land or keep enjoying the 7k..

Investment wise what is the best decison to take here

Pls banter and roasting is welcome. Because I’m here to learn. I know I’m not too smart.

Pix Google Image

Please, use your 545k and buy bonds/treasury bills through third party apps like Opay, Fairmoney, Piggyvest, etc. Thank me later.

As for lands, you have to be very careful. Less than 98% of lands appreciate in the country. Whatever little appreciation they do is quickly evaporated through inflation. That doesn't mean it isn't good to own lands. If your purpose is to own a part of the country, even in your village, it is usually a good decision. But as investment decisions, very few lands turn out profitable when you check the opportunity cost of using that money on other good investments options.

2 Likes

Re: Buying Land Or Keeping The Money In Bank by OllyDiamond: 4:46pm On Jun 03

Please which bank in Nigeria is paying that much interest?

Is it a fixed deposit or what? Please enlighten me. I am interested

Re: Buying Land Or Keeping The Money In Bank by Redman44(m): 4:59pm On Jun 03

@op, buy the land and use it as a farm to plant crops. You can make good money planting vegetables, Cassava, Maize etc. You can win twice in that manner. Cheers.

Re: Buying Land Or Keeping The Money In Bank by JOHNSON1920: 5:24pm On Jun 03

Please, which bank gives you return of #7,000 on 545k?

Re: Buying Land Or Keeping The Money In Bank by Love800(m): 5:38pm On Jun 03

Appreciating or inflation!

No gain buying land to keep. After the wait, you will discover you only wasted time because cost of goods and services will be very high too.

kakaG:
Land is the only thing that appreciates over the years. Something worth investing on

Re: Buying Land Or Keeping The Money In Bank by Love800(m): 5:40pm On Jun 03

What about the inflation that will finish your 1.5m next year!

The truth is, no gain in it.

Don't be deceived.

olumaxi:
Buy land....a land of 545k dis year can be sold for 1.5m next year

Re: Buying Land Or Keeping The Money In Bank by Love800(m): 5:45pm On Jun 03

So won't the company experience bad times which will leave you stranded?

chiefolododo:
don't buy land...you cannot quickly sell it when you need money.

Don't put your money in the bank, it's not worth it.

Buy stock of a good company(s)

Re: Buying Land Or Keeping The Money In Bank by Love800(m): 5:48pm On Jun 03

You already fenced it. So why are you still engaging it with farming and leasing?

marlow1962:
Buy land fence am immediately, even if you don't plan building yet.
That is what I did to almost all the lands that I've bought.
You can be farming there or lease it for a couple of years, anything for the land not to stay idle.

Re: Buying Land Or Keeping The Money In Bank by chiefolododo(m): 5:52pm On Jun 03

Love800:
So won't the company experience bad times which will leave you stranded?

With good companies , you are covered, don't put your egg in one basket

Telecommunications (25% of your money) e.g Mtn, Airtel

Bank (25%) e.g Gtb, Zenith

Oil and Gas e g Dangote (25%)

Food and or pharmaceutical industries 25%

All of them cannot go bad at the same time.

Stock is better than both land and bank
, owning land isn't bad it just that you might not find buyer at the time you want

Re: Buying Land Or Keeping The Money In Bank by Vikalinda(m): 5:56pm On Jun 03

What can 7k monthly do for you,
In 2021, got a plot of land in an underdeveloped area in port Harcourt for one million naira, today my neighbor who bought 6 plots from the same landlord is selling all together for 24 million. People are offering me 7million for the plot.
I now decided to save through the land by building on it. After completion of the building, I will sell the house and cash out.
My brother buy the land if it is genuine. Land appreciates but do research, do not buy a forest that will take several years to develop

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Re: Buying Land Or Keeping The Money In Bank by marlow1962(m): 5:57pm On Jun 03

Love800:
You already fenced it. So why are you still engaging it with farming and leasing?

If I didn't lease it, I normal farm there. A way to let people know that the owner is active, and besides if I farm or lease it, it still serves as a means of getting some kind food stuffs and cash, no matter how little.

Some community youths can pretend it's their and sell it if the land is left unattended.

1 Like

Re: Buying Land Or Keeping The Money In Bank by Love800(m): 6:01pm On Jun 03

Some with already built foundation taken!
So what is the essence of developing it!

Berankis:
It is stupid idea to buy land with all the money you got without anything left to at least develop it a little.
You will just buy it for the omooniles to resell and you lose it all.
Talking from experience. And mind you, be ready to buy it 2times over at least or more if you are unfortunate.
I once bought a land for keeps but lost it. On my 2nd trial, I immediately started developing it and that's why I still have it till date except they want to demolish my house to take the land. Moreso, I am on my 3rd round of buy-over (ratification) of the same land. The families keep getting judgements against each other and kept demanding money endlessly.
People's land were taken, some with already built foundation. My younger brother also lost his land in the same place because he couldn't develop it quickly, his land now has fully built house with fence and gate.

Re: Buying Land Or Keeping The Money In Bank by Love800(m): 6:05pm On Jun 03

But how will someone sell your own land that you have already bought!

And you let it slide out just like dat?

charlisco:
if you buy a land, and u donot put some foundation inside, they will resell it and give you penut. it happen to me. i left the land for 6years without any structure inside. they sold it and call me to come and collect back my money

Re: Buying Land Or Keeping The Money In Bank by Love800(m): 6:07pm On Jun 03

What is this gold particularly?

And where can one go to buy it?

hamzeiy:
Go and buy gold and keep for the next one year ..you won't regret it, buying land is good but gold is far more better and you can easily recover your money anytime you want, I once bought gold 800k..I sold it for around 2.7m after 1 years 6 months....

There is a land a freind of mine bought at 3m about about 2 years 5 months ago...I was fully involved in the transaction recently the land agent that connected us to the owner is asking for the same at 4.3M....secondly selling lands when you need the money might be tricky and the market isn't as stable as that of gold .....more importantly never keep cash in bank in a country like nigeria with a devaluing currency like naira.
I did that and my money lost value significantly.

Re: Buying Land Or Keeping The Money In Bank by SammySammy1011: 6:13pm On Jun 03

I want to ask, which account are you operating that's giving you 7k a month in a bank. 7k x12 = 84k
Continue running the account, hustle more and add, land appreciates but it depends on the location.
I advice continue running the account and increase ur hustle, you can buy another land still cheap

Re: Buying Land Or Keeping The Money In Bank by Mummiesboy: 6:16pm On Jun 03

Ibechris2:
One reason I won't advice u to buy land and keep is because of Omonile menace in that region. U may buy today,another day someone would start claiming ur land as his or even build up ur space.

U are too young to waste such money now.

For me,move that money to mutual fund no matter how small it is.I beg throw more light on the mutual fund am looking for what to invest my money on

Bank is a no no for me.

Re: Buying Land Or Keeping The Money In Bank by hamzeiy: 6:49pm On Jun 03

Love800:
What is this gold particularly?

And where can one go to buy it?

Gold jewelries, Dubai or UK or Saudi..
Second hand has more value....but be sure of who you're buying from...
Alot of fraud in the industry.
If you were around kaduna or Abuja that would have been better...but I do not know any other reliable persons outside these two states

Re: Buying Land Or Keeping The Money In Bank by egunna(m): 7:57pm On Jun 03

Onkoolos:
Good morning guys, I have 545k that I saved in a bank giving me return of 7k per month, 2 months ago i saw a land available at place in ogun state after mowe ofada area. I want to ask should I withdraw the money to buy the land or keep enjoying the 7k..

Investment wise what is the best decison to take here

Pls banter and roasting is welcome. Because I’m here to learn. I know I’m not too smart.

Pix Google Image

bros wetin you invest in wey dey give you 7k monthly abeg?make I try am see

Re: Buying Land Or Keeping The Money In Bank by merits(m): 9:22pm On Jun 03

Mandem05:
I bought land in a developing area at the beginning of the year 2025, within 1 year the cost of the land has doubled. To be honest buying land to keep is not easy. Yes it appreciates over time but there is the constant worry of what if something like dispute start??
If land case enter court e fit take 25 years to finish di case.

A risk taker always win don't think that way everything in life as a good and bad side,he should just consult widely) wisely before buying the land that is all.

Re: Buying Land Or Keeping The Money In Bank by rafcrown(m): 9:59pm On Jun 03

Buying land in Nigeria if you live abroad.
Tbose agents tell lies a lot so you need to be extremely careful.
All the 5 minutes drive to the main road,great landmarks mentuoned are miles away.
By the time you come back after 10 years abroad the place may still bush area.
I asked a Surveyor to check 1 acre of land sold to me and he reported that development cant reach there until 2040
Unless there is a government project.

1 Like

Re: Buying Land Or Keeping The Money In Bank by Love800(m): 10:24pm On Jun 03

I really appreciate.

chiefolododo:
With good companies , you are covered, don't put your egg in one basket

Telecommunications (25% of your money) e.g Mtn, Airtel

Bank (25%) e.g Gtb, Zenith

Oil and Gas e g Dangote (25%)

Food and or pharmaceutical industries 25%

All of them cannot go bad at the same time.

Stock is better than both land and bank
, owning land isn't bad it just that you might not find buyer at the time you want

Re: Buying Land Or Keeping The Money In Bank by femi4: 10:24pm On Jun 03

Onkoolos:
Good morning guys, I have 545k that I saved in a bank giving me return of 7k per month, 2 months ago i saw a land available at place in ogun state after mowe ofada area. I want to ask should I withdraw the money to buy the land or keep enjoying the 7k..

Investment wise what is the best decison to take here

Pls banter and roasting is welcome. Because I’m here to learn. I know I’m not too smart.

Pix Google Image

Buy land

Bought a land 150k in 2015, sold it in millions last yr

Re: Buying Land Or Keeping The Money In Bank by Love800(m): 10:25pm On Jun 03

Wow.

I appreciate.

marlow1962:
If I didn't lease it, I normal farm there. A way to let people know that the owner is active, and besides if I farm or lease it, it still serves as a means of getting some kind food stuffs and cash, no matter how little.

Some community youths can pretend it's their and sell it if the land is left unattended.

Re: Buying Land Or Keeping The Money In Bank by Love800(m): 10:29pm On Jun 03

What is the meaning of the dubai, UK and saudi you wrote there?

And after buying it, where can i sell it to make profit?

hamzeiy:
Gold jewelries, Dubai or UK or Saudi..
Second hand has more value....but be sure of who you're buying from...
Alot of fraud in the industry.
If you were around kaduna or Abuja that would have been better...but I do not know any other reliable persons outside these two states

Re: Buying Land Or Keeping The Money In Bank by delpee(f): 2:38am On Jun 04

Onkoolos:
1.There is development around it my brother
2. I can leave the money untouched for 12 years self I have other places i get money
3. The survey and deed of agreement is sure my boss
5. I have an emergency fund boss

For land in semi urban/rural areas, it's a game of chance. From my experience, you win some and lose some. Having the survey and deed of agreement isn't a perfect guarantee except if you're willing to process the C of O immediately.

The good thing is that land is a good store of value. It will appreciate over time. Just be sure that there are no family issues and complete the legally recognised registration process promptly.

1 Like

Re: Buying Land Or Keeping The Money In Bank by LarryMurphy: 3:38am On Jun 04

I guess this is Bad News in disguise.
Op be careful with this particular adviser.
Check the profile of your adviser.

[quote author= post=139603443]My Brother, This money is a small money, Try and work hard to make more money, then do AGGRESSIVE INVESTMENT with less risk.[/quote]

1 Like

Re: Buying Land Or Keeping The Money In Bank by professore(m): 5:16am On Jun 04

bahdpersona:
I, also, have 5.5m in my fintech back and I earn 1k plus daily as interest. Everyone is advising that I buy land but the risk of dispute arising in later years is what scares me.

That's about 3%, what bank is that if you don't mind sharing?

Re: Buying Land Or Keeping The Money In Bank by professore(m): 5:40am On Jun 04

Smartguyboy:
Buy land
But instead of leaving your money in your bank account for low interest rate why not use assets management and make 16-18% ?

Can you pls shed more light on this, is this also within the bank?

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