bbulldog:
if not for the help of fraud, internet fraud, or dasuki type of money.... A mid 20 guy building a house. Shame on Nigeria, yahoo business is now kinda eligible... God help us all

shame on you.. i repeat same on you... instead of planning your life very well, you kept chasing girls, partying. you think everyone making it must be into fraud or dasuki type of money?? i repeat,
SHAME on YOU

queenfav:
From the moment you start working, you should have savings that would eventually be used to get a plot of land.Little by little,yoi can start building,before 2 - 3 years,you should be able to move into your own house.Hopefully, by this year end,i would buy a plot at any upcoming area in my State for 300k at most.

You can buy a house in your state for the purpose of investment. However, do not think of building a home in your state, while you live and pay rent somewhere else. You may not recover your expenses in 30 years if you put in on rent.

Before you build your dream home, think about where you really wish to reside. Do you still wish to apply for jobs in other states? countries? Where do you wish to live? now and after retirement?

What if your husband live elsewhere? A house remains an immovable investment. Many people who struggled to build never reap the rewards of their labour. If the purpose is to leave something for your children, a home is just a fantastic venture, but economic-wise, there is little to be desired.

MRBrownJ:
owning a home should ONLY be a priority if A) this is what you desire for your life or B) you have the MEANS to afford the house you DESIRE, where you desire it.

so many clueless people buy cheap homes in RUBBISH area, just because they want to own a house... and in turn, they are miserable as soon as they set foot in. if buying a home isnt beneficial to you 110%, then you shouldnt dream of buying it.

wat do u mean by rubbish area?

thesicilian:
Nairalanders can lie ehn!

abi ooo I think say na only me dey notice am self. They will just come here dey lie more dan lie Mohamed. Mtchew I built my house @ 28 when u still leave under ur parents lol

my dad don dash me a two bedroom flat already...may be when am marry i will build one more but for Naw ..........,,still rocking d home alone.

Age should not be a barrier to owning a house na! Nigerians and age, haba!

Owning a house should be a function of desire/need and of course a determining factor-finance. Once one has these, one can go on to build or buy a house irrespective of one's age.

Atleast real estate investment is still better than lavishing money on "bling blings" which is an attribute of some of our financially buoyant youths.

Still Building Mine,Infact i just finish the Foundation,and i m 32,But i believe God's time is the best

SafetyFirst:
I think it should be pocket dependent and not by age.

If ones mind is not there even if one takes home 1 million monthly one would still find extravagant way of spending it.

guys u are nt God. thread like dis is why nigerians want to kill & do anything to make money overnight. no body plans to fail in life but pls do ur best & leave others to come. don't die before ur time. I thought by 25 I will own all d gud tins of life but still struggling but I know I am not better than my friends, age mates, classmates etc currently in 6 feet under d earth

babyfaceafrica:
No specific age,not everyone will own a house,some will build,some will rent and some will buy.....just because you own a house does not make u better and successful than people who rent.....Build a house when you are financially ready to build one,stop looking. At others pace to do so...no one catches late comer in the hustle of Life

Well summarized.

drkay:
Well, 30yrs isn't bad. I moved into mine at 29 and am still the youngest landlord in my estate at the moment but there's this guy that is currently putting finishing touches into his house, very close to mine, he should be in his mid 20's.

which Estate

I think it is a matter of priority. If owing a house is one's priority, other things can wait while you are putting up the house.To some people, giving the best of education to their kids is a priority, to others, setting up a formidable business empire is top on their priority. To others still, enjoying life to the fullest or even attaining a Phd is a life target. So, its different strokes for different folks.

.

beatzone:
I can't stop laughing at the level of deceit in this thread. Listen guys, I am doubting the fact that the Op moved into his house at 29..Yes, anything is possible, even if you are not from a rich family or not doing crime. But, looking at it this critically, if you moved into your house at 29, not doind crime nor from a rich family, it means the following :

1. You started saving when you were in school (I doubt that)
2. You got instantly after leaving school at ...say 23 (possible)
3. Your take home pay is 250k monthly when you left school (Oil company maybe)
4. Got a land (depending on the area)
5. Built and packed in

You see, this timeline (most likely wrong) is not the same for 99.9% of Nigerian youths.

My point - THIS THREAD IS UNNECESSARY because it is demoralizing to the hardworking naija youths.

There is NO RIPE AGE TO owning a house !!!

Entrepreneurs don't exist?

onotukabiru:

Logician: :
28

Why?

I'll rather put it @25

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WebSurfer:
i pity you and the people who thinks like this, honestly had a friend who said all these nonsense you just said, but to cut the story short, today he is regretting those words. i ignored all of it and made it possible till completion.

Meanwhile, how many jobs have and businesses have you created?

Many Nigerians build because they were made to believe building a home is cheaper than RENT. That idea is false. Some also built because they want to leave a property for their children. I factor these reasons, and conclude that it is unwise to hurriedly build a house, especially when there are many ventures one could lay his hands on.

The real and hidden reasons people hurriedly build a house in Nigeria include:

1. Fear of taking risks
2. Zero business/investment acumen
3. The believe that they'll some day fail or get fired, hence the need to quickly secure a home
4. The believe that a landlord is the reason they have little to zero savings.

For a young man of 25 - 29 yrs, haba! there are many investments one could put his money into. The fear of N100,000 rent shouldn't make anyone to pour N5 million & more on an immovable asset.

At least, raise a family, wife and children and let the decision be made collectively. But like someone said, people have varying pursuits. Some prefer to get a decent job, own a car and build a house. To them, that's the ideal lifestyle. Some just want to enjoy life, while some are ready to pour their earnings on more degrees oversea, so I'll try and avoid judging anyone.

NaijaFutbol:
From the day you get a job, save exact amount of your rent as a mortgage fund.

It becomes an emergency the very year you get married.

Start building building with your spouse and set a realistic target with him/her.

I remember back then, my mother practically forced my first housing allowance out of my hand and used it to buy 2.5plots of land @ Ibafo. I was 24+. It shaped my perception for life...... for example, we used all the cash gift we got at wedding 4yrs later to complete payment for a second property

Logician:
28

how old are you?if u r above 28,do u own a house already?

pedrilo:
which kind rubbish talk be dis? in ur attempt to sound intelligent, u ended up revealing so much ignorance. . . tell me where in the world house rent will remain static or constant for 50 years! #olodo

You are also wrong!

Inflation would take a toll on the increased rent.
Abi can you still buy a wall clock for 20 Naira in 2016?
Yet this was possible in 1980's, and it doesn't mean Clock business is now more profitable.

Cc. Acidosis

hhh

Greatness is not a function of age so also building a house. make your hay when your sun is shinning.

It's depends on funds and the man pocket but my father built his first house at 30

By 21 years...if you have the money. What a silly question. You see who dey forbid house? It seems some of you don't live in Nigeria

U couldn't have said it better.. Y would a guy that works on d island plan to build and live at ijoko, atan or ifo. Then spend a quarter of ur life in traffic. It makes sense to build for investment sake. It's not compulsory for a millionaire to own a house to confirm his status as accomplished. I have a friend that spent his life savings(over 2m) on building a 2 bedroom flat at ifo..he's now jobless.. Tell me, is that wisdom or foolishness

tee4naija:
I think it is a matter of priority. If owing a house is one's priority, other things can wait while you are putting up the house.To some people, giving the best of education to their kids is a priority, to others, setting up a formidable business empire is top on their priority. To others still, enjoying life to the fullest or even attaining a Phd is a life target. So, its different strokes for different folks.

Elxandre:

You are also wrong!

Inflation would take a toll on the increased rent.
Abi can you still buy a wall clock for 20 Naira in 2016?
Yet this was possible in 1980's, and it doesn't mean Clock business is now more profitable.

Cc. Acidosis

Exactly, his response was too quick.

He asked me whether house rent will remain static for 50 years.

In my response, I asked whether earnings/income will remain static for 50 years.

"PEAR NO DEY SOFT THE SAME TIME". Everybody has his/her own unique time. Building early does'nt necessarily make you financially better than the other guy.

oscillation55:

If ones mind is not there even if one takes home 1 million monthly one would still find extravagant way of spending it.

If one likes, let him be sixty-five, as long as their pocket isn't telling them the truth. They'll just be giving themselves high BP

I own my 5 bedroom flat at the age of 21 and i bought my first plot of land in port Harcourt at the age of 20, with my sweat not my dad's sweat, infact i lost my dad at my 19 we lived in two room rentage, today in my area I am the youngest landlord with full respect

onotukabiru:


Well, For someone who is starting a job, don't you think other stuff like wardrobe (he has to dress up to office expectations), Feeding, Transportation (considering the fluctuating cost of transportation due to unending arising factors ), Utility bills, etc. I believe there has to be a certain level of financial stability before one can start saving for a home, besides its easier to save with a spouse if the person is married.

A lot of sacrifice must go into this. I believe people should tell themselves a reality of postponing comfort for a 5-10 year period. Starting early is also key. I remember I once advised my sister in law that to make her relationship worthwhile, she and fiancee should commit to house project - either build or buy.

In 2007, I gave my wife 900k to cover a summer trip. She suggested we shelve summer that year so that we can invest in a business she's had her mind on for a while. I bought the idea (making ICE BLOCKS in large quantity) and we started. We built a mini-factory from scratch. Summer was shelved for 6years. It was a rewarding experience for us....but one thing that was key, the experience I got building the factory was key both as impetus and little experience in building the one we live in today.........I will forever be grateful for the kind of wife I married. She like her grandmother believed in the concept of "tying things down" (building projects)

I am currently thinking of starting a complex next year (4 floors minimum), consisting of supermarket, restaurant and office spaces. I simply tell myself that after acquiring the land, I just need to throw a minimum of 5 million Naira at it every year and will wrap it up when I exit paid employment.