m 22 n I own two houses already...

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 !!!

You should also ask the kinda house he built. May be na one room self contain

-

joey150:
So every 29 or 34 years old would own a house??


Lets be logical here.. Half the youths dont even have jobs. And there is no right age for anybody.
Whenever you can....you should. Simple!!


Can everybody even own houses if given the means?? What a crappy question if you ask me. When did nl turn to quora I mean the poorer version where people ask shitty questions.

some of the questions those guys ask are really silly
Does Obama always feel happy?,
At what age will I die?.

onotukabiru:

In your own opinion, at what age do you feel one should start thinking about owning his own house and make it a priority. I personally think Age 30, while some might say age 40. Remember that planning to own a house either through buying or building from scratch does not necessarily mean one has the whole money but one could decide to save towards building/buying a house or secure a financial aid. Lets get talking guys. Join the discussion here
****

[size=15pt]If owning a house has ever become your PRIORITY. your life is finished. Get a bigger vision[/size]

onotukabiru:

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.

I agree and disagree at the same time, yes i agree some people buy homes in what u regard rubbish areas, but also keep in mind that someone who buy's a house in a rubbish area for N5m, that house value would probably double few years from the time of purchase, owning a house is not just for having somewhere to stay, most times its an investment. He can sell the house and use the money to buy a house in what you might consider a correct area in the future.

The thing I find absolutely wrong with MRBrownJ's comment is that he's pushing his orientation as a proven precedent. People have the right to aspire to own a home, regardless of where they choose and where they can afford. My concern is that going by the way MRBrownJ is thinking, time may pass one by and what will be the use of living in Lekki for the first time when you're now in your 50s and all your children are either married or about to be married.

Secondly, I believe the right to own a home is inferred from one of the fundamental human right (Shelter). Govts are also charged to make sure citizens own homes in their life time.

But I think more importantly, people don't set their priorities right. They opt for what is fun and easy (Jewelries, Luxury Cars, Expensive travels, School fees they struggle to keep up with, Rents they struggle to keep up with and dressings whose cost is equivalent to the cost of a bungalow)

Acidosis:


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.

My friend, Nigerian values are killing Nigerians. I used to work in a place which could not be accessed by public transport and owning a car was quite important due to the shift nature of the job also. Yet, one colleague who was earning much more than us due to having being in the job for longer was still trekking the 20+ minutes to the factory from last bus stop because HE WAS BUILDING A HOUSE and expected we small boys who used cars to stop by and pick him up. In his eyes and those on his level, he is wise. At your maternity ward when you are born, the Nigerian society has already drawn up a long list of all the items you must acquire and all the things you must do or else they brand you a failure and sanction you. There is no place for individual evolution of the meaning of life; it is all about materialism and you're encouraged to do whatever it takes to tick each of the boxes as you carry on in life here. Are you still wondering why this country is so badly governed and people are so cruel and self-centered, trying to amass all for self? I have said repeatedly that the problem with Nigeria is the Nigerian people themselves and how they define their society. It is not about poilticians as those politicians are also one of us trying to do what the others are doing in their own space too. It's a tragedy, this country

onotukabiru:

In your own opinion, at what age do you feel one should start thinking about owning his own house and make it a priority. I personally think Age 30, while some might say age 40. Remember that planning to own a house either through buying or building from scratch does not necessarily mean one has the whole money but one could decide to save towards building/buying a house or secure a financial aid. Lets get talking guys. Join the discussion here
****

At 18...that's the best time all around the world.

mapet:


The thing I find absolutely wrong with MRBrownJ's comment is that he's pushing his orientation as a proven precedent. People have the right to aspire to own a home, regardless of where they choose and where they can afford. My concern is that going by the way MRBrownJ is thinking, time may pass one by and what will be the use of living in Lekki for the first time when you're now in your 50s and all your children are either married or about to be married.

Secondly, I believe the right to own a home is inferred from one of the fundamental human right (Shelter). Govts are also charged to make sure citizens own homes in their life time.

But I think more importantly, people don't set their priorities right. They opt for what is fun and easy (Jewelries, Luxury Cars, Expensive travels, School fees they struggle to keep up with, Rents they struggle to keep up with and dressings whose cost is equivalent to the cost of a bungalow)

remove school fees from your list,education is priceless...you don't group it with those things there

Worked on a project at age 28 and was able to complete a 6bedroom bungalow with another 4 units of 1 bedroom apartments. Now living in the former and I have to only think about other things and definitely not shelter anymore.......

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.

My person..can you please shed more light on this?

WebSurfer:
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

how are old are you?... Do you have manners at all?.. Did I mention ur moniker at all? Or are you at war with your conscience?.

MrMcJay:


This line of thought is what a lot of people are ignorant of.

I'll prefer to live in a flat on the Island than to own a Duplex in a place like Ikorodu. FYI, the road between Bourdillon road and Gerrard Road both in Ikoyi is 2 lanes on each side. The road between Ketu to Ikorodu is also 2 lanes on each side, This is irrespective of the fact that the population in Ikorodu is about 1000 times the number of those in Ikoyi. If you seek affordable options, there are many estates after Ajah on the way to the new Lekki FTZ where the government is building 12-lane highways.

People don't understand that it's not only about building a house, the environment matters. There is no point hurrying to build in a slum when you can wait, save, strategize and make proper real estate investments. It's not how far but how well.

I disagree slightly with this your position. Why? If you're talking to people who are matured enough, have good income or have well paying jobs with option of mortgage loan facilities etc then it suffices. But if you're talking withing the context of this topic, especially a generalised premise it came with, then it may not necessarily be true.

Pray tell, what is the stats on the number of people that will end up being able to afford accomodation in Lekki and Ikoyi? Who tells you successful people don't live in those places that you denigrate? I think the perception of the premium places is personal. If you want you and your kids to live/grow up in a certain environment, go to certain schools, mix with certain kinds of people and much more you think of placing a premium on your property (value and rental income), then you can do that (FYI, that is what I did) but that doesn't make it a standard for all people.........

PS: This position of yours could also be misguided at times, as I see many of today's youth struggle to keep up because they rented a house in exotic locations.

Dottore:
Whenever you are tired of paying for house rent

Classic answer

WebSurfer:
so, on your thoughts , only yahoo boys can do that, well, i have been staying in my house for 2 years and six months immediately i graduated from the uni, meanwhile i'll be 25 soon.. if it must interest you to know, iv never been paid any dime from overseas, nor touched a gun my whole life. dont judge people easily that way

Lol , you play too much .... So what exactly were you doing ??... You were blogging right ??
Lol ,, people always claiming what's not on Internet ... Thank God for mtn 10mb... Smh

To build or not to build, that is the question. I am at this junction now where I am trying to decide if I should develop my 'Bush' land or buy another land close to my present accommodation, I just don't know which road to take and I have started spending carelessly.

For me,is a two way thing,first there are some guys who did not attend a higher education institutions,instead went into apprenticeship before setting up there business,while we all know what it takes to pass through school and then search for a job and start saving money,so the business guys may start saving money too and start building between the ages of 25 to 30,but the other guy may start building between 30 to 35 or more . That my take.

Logician:
28

28 is unrealistic considering nigerias harsh economic environment.

Acidosis:


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.

Bro, all these you just said now ennn, i have them in place. is it a personal business? yes. a wife? not really married for some reasons(still in school et others) even tho my wife-to-be is pregnant. mind you im almost 25

please dont decieve others,let them build if they are chanced to. realestate is the best investment in any part of the world.. go make some research...

right now, if i should sell of the property i am writing from, i could move to lagos to get a very good land in Lekki and developing it to a very good point. you know what most nollywood actors/actresses say when they shoot here? Wow
,

pedrilo:

Acidosis: Acidosis:
Building in Nigeria is overrated.


It is economically cheaper to rent a house in Nigeria.

The money you spend renting an apartment for 50 years in some areas in Lagos cannot buy a plot of land.

E.g. A 2 bedroom apartment cost N200,000 yearly.

Multiply N200,000 by 50 years
That gives us just N10,000,000.

In Akute, Ogun state, one could get a 2 bedroom apartment at N200,000 - N300,000 annually.

In the same Akute, a plot of land sells for an average of N10,000,000!

What sense does it make to build just because you want to become a Landlord?

Many Landlords who put their houses on rent do not recover their expenses until after about 50 years. Build when you have the means, and ready to settle down as a made man. Building has never helped anyone, except those who deal on real estate.

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

Is that the only thing you see?;

1. He does not understand the meaning of NETWORTH
2. He thinks the both the cost of rent and property will remain constant for 50years
3. He does not even see that while the rent payer keep paying, the landlord keeps receiving
4. He does not factor other intangibles (security, leverage)

Olodo? obviously

Logician:


A youth passionate about financial stability from should have a home by 28

IN DIS TYPE OF OUR COUNTRY, I DONT THINK THAT ITS POSSIBLE FOR MAJORITY OF NIGERIANS.

Oyin93:
m 22 n I own two houses already...

when I was 22 on that didn't even entered my brain

Acidosis:


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.

You raised valid points..first off all, i see it as an investment..My mother bought d land on which our house was built for 70k..today we get 120k rent annually for the bq.I just want a landed property somewhere that i can put up for rent,i mustn't live there na..With the high rate houses are let out for,trust me,i would recover my money in 5-7 Years. As for work and marital considerations, i cant let any of them hold me back,even if my husband lives elsewhere does it mean he has to move in with me?I am yet to be married so have to make plans for me and me alone,it doesn't stop me from getting married or taking up a job offer abroad.I want to build a house so i can be getting rent from it,rather than invest in a business that i can't supervise personally.

blackprowler:


My friend, Nigerian values are killing Nigerians. I used to work in a place which could not be accessed by public transport and owning a car was quite important due to the shift nature of the job also. Yet, one colleague who was earning much more than us due to having being in the job for longer was still trekking the 20+ minutes to the factory from last bus stop because HE WAS BUILDING A HOUSE and expected we small boys who used cars to stop by and pick him up. In his eyes and those on his level, he is wise. At your maternity ward when you are born, the Nigerian society has already drawn up a long list of all the items you must acquire and all the things you must do or else they brand you a failure and sanction you. There is no place for individual evolution of the meaning of life; it is all about materialism and you're encouraged to do whatever it takes to tick each of the boxes as you carry on in life here. Are you still wondering why this country is so badly governed and people are so cruel and self-centered, trying to amass all for self? I have said repeatedly that the problem with Nigeria is the Nigerian people themselves and how they define their society. It is not about poilticians as those politicians are also one of us trying to do what the others are doing in their own space too. It's a tragedy, this country

Bros,

I don't share your sentiment a bit. That guy was simply in his period of sacrifice. You have the prerogative of not offering him a ride but it does not stop him from doing his thing. I just don't get your use of the guy as excuse for your preference not to pursue tangible goals

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babyfaceafrica:
remove school fees from your list,education is priceless...you don't group it with those things there

Bros,

Trust me, people put their kids in schools they CANNOT afford. You've not seen ridiculous reasons why people put their children in particular schools, someone once told my wife they opted to put their kids at Day Waterman College (4m/yr), because of "connections"

myners007:
Op u are nt specific with era in ur write up.Do u mean in present day. Nigeria or in the 60's to. 80's. Presently in Naija given the current economic woes one can only envisage owning a house from the age of 50 and above

Baba speak for your self.

mapet:


Bros,

Trust me, people put their kids in schools they CANNOT afford. You've not seen ridiculous reasons why people put their children in particular schools, someone once told my wife they opted to put their kids at Day Waterman College (4m/yr), because of "connections"

hahahahahhaha....that someone na clown....

Acidosis:
It is financially stup!d to aspire to be a landlord just because you want to be one, especially for a young man.

A man who hasn't even found stability in his job has no business in building a house. Some tolled that line and they ended up in regret upon job transfer, etc.

What if you build a house in Mowe, and you get a better job in Ijanikin? Would you carry your house on your head and move to your new location? That's economic stup!dity.

Those who are near the retirement age should earnestly pursue owing a house. For a young man, there are many things you could put your money into. You could buy lands (let it appreciate), save your money and build when it is suitable.

Rather than build an economically stup!d liability at 22, why don't you build a business, a firm, get graduates off the street, and contribute to the economy of Nigeria, instead of a redundant Landlord association?

As he has rightly said, I don't think building a house should be a top priority. Our main priority should be to build a stable and profitable business. One won't stress himself to build a house after that.

Different funny comments....you pple think it's that easy to just put up a house when you have alot of bulletin settle for yourself and families....most of you ain't married yet that's why your saying this ....it's only by God Blessing and not man power

A youth passionate about financial stability from should have a home by 28





Asin u go don build ur own haus at 28...abeg which time the person finish sch abi him papa na Dangote

MrMcJay:


This line of thought is what a lot of people are ignorant of.

I'll prefer to live in a flat on the Island than to own a Duplex in a place like Ikorodu. FYI, the road between Bourdillon road and Gerrard Road both in Ikoyi is 2 lanes on each side. The road between Ketu to Ikorodu is also 2 lanes on each side, This is irrespective of the fact that the population in Ikorodu is about 1000 times the number of those in Ikoyi. If you seek affordable options, there are many estates after Ajah on the way to the new Lekki FTZ where the government is building 12-lane highways.

People don't understand that it's not only about building a house, the environment matters. There is no point hurrying to build in a slum when you can wait, save, strategize and make proper real estate investments. It's not how far but how well.

lolz,so we that are living in ikorodu are living in slum or are ignorant,my friend plz change ur orientation, the lekki of today wz also once an ikorodu of today,the development in ikorodu is so rapid,hundreds of people are moving in daily.mayb yoa stil dwelling on the view of ikorodu of yesteday,plz find time n take a tour.God bless our govt.fyi,we live well n better dan wen we were in d so called town of lagos.