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Nairaland Forum / Nairaland / General / Properties / Top 6 Reasons Why the Lagos Rent-to-Own Scheme is Great (16917 Views)
To Let: 2 Bedroom Flat + Study At Ijegun, Lagos. Rent Is 300k Per Annum / Lagos Rent To Own Policy: A Nairalander's Success Story / Lagos State Govt Rent-to-own Scheme (2) (3) (4)
Re: Top 6 Reasons Why the Lagos Rent-to-Own Scheme is Great by tbliss22(m): 7:04am On Dec 06, 2016 |
Nicolars: Lolz the best to be done to people of this nature is just to IGNORE. Those who can comprehend will get the information perfectly, even in the United State such scheme is in practise but when such idea is encouraged here some people will want to talk it down. I see a Lagos that will extend just gesture to other basic needs to be paid back on long term loan. Eko onibaje ooooo!!! God Bless Nigeria 1 Like |
Re: Top 6 Reasons Why the Lagos Rent-to-Own Scheme is Great by Afam4eva(m): 7:09am On Dec 06, 2016 |
Leyqute:When the highest house they are mortgaging is a 3 bedroom flat, then it's on the high side. The fact that you can afford it doesn't mean every Lagosian can. |
Re: Top 6 Reasons Why the Lagos Rent-to-Own Scheme is Great by FakoMaybach1: 7:11am On Dec 06, 2016 |
Please i need someone to educate me on how i can quickly register to be a lagos resident....this scheme i am so interested i want to own my home abeg, tired of being a bloody tenant. But abeg eh make i axe kwesion, if maybe u started by paying 5k rent every month and ur income increases can u step up so that u go own ur house quicker, and kwesion two hope there is no Hidden interest rates and hidden charges Please someone should teach me how i can get this lagos residency without stress cus i know that Tax clearance will be so so stressful |
Re: Top 6 Reasons Why the Lagos Rent-to-Own Scheme is Great by Handsomecole(m): 7:14am On Dec 06, 2016 |
People are just hard to please! They are just born to criticize and find faults to the extent that they blind themselves intellectually. Now they ignored the 1.5 and jumped to the 25m. As if they are ignorant of what it costs to build a house. Getting house from 1.5 in this present economy is very very cheap. What we need to look at is how the Govt intends to give those houses so it won't go to the already rich people. |
Re: Top 6 Reasons Why the Lagos Rent-to-Own Scheme is Great by Leyqute(m): 7:14am On Dec 06, 2016 |
Afam4eva: How much can you get a 3 bed room flat in Banana island? How much is a 3 bedroom flat in Agege? How much is a 3 bedroom flat in Ikorodu? The fact that you can afford it doesn't mean every Lagosian can. Can every American afford 3 square meals a day? Can every European afford 3 square meals a day? Can every Nigerian afford 3 square meals a day? 1 Like |
Re: Top 6 Reasons Why the Lagos Rent-to-Own Scheme is Great by Orikinla(m): 7:19am On Dec 06, 2016 |
Story for the gods. N25m is enough to build a three bedroom bungalow in Ajah, including the required one plot of land with solar powered borehole and regular power supply. Solar Pumping System - Kkstech | Solar Pumping Systems, integrated solar street light, Solar Water Pumps,all in one solar street light , Solar Pumping Inverters http://www.kkstech.com/products.php?cid=7&gclid=CKnD47H23tACFcG4GwodDfkEDw 1 Share
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Re: Top 6 Reasons Why the Lagos Rent-to-Own Scheme is Great by benz33(m): 7:19am On Dec 06, 2016 |
Afam4eva: Please read well......its not an outright sale. There ones for N1.5million ,N2million etc..where u make a down payment of 5% and be paying 15,000 monthly for 10years...... |
Re: Top 6 Reasons Why the Lagos Rent-to-Own Scheme is Great by Afam4eva(m): 7:23am On Dec 06, 2016 |
Leyqute:Nowhere in the article did they mention Banana island. Most of the houses will be built in places where medium and low income Lagosians live. Even private owned estates in those places don't sell as much as 25 million on the average. There's an estate called County estate somewhere around Pen Cinema Agege and it's a pretty nice estate and they started selling flats as low as 7 million even though now it's about 20 million. This is a private estate we're talking about. Anything built by government is supposed to be considerably cheaper than those built by private setups if they're interested in helping the citizenry like they claim. 2 Likes 1 Share |
Re: Top 6 Reasons Why the Lagos Rent-to-Own Scheme is Great by Dsrooftiles: 7:28am On Dec 06, 2016 |
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Re: Top 6 Reasons Why the Lagos Rent-to-Own Scheme is Great by Exciton(m): 7:29am On Dec 06, 2016 |
fkj950ax: Actually, the typical price that will be in high demand will be closer to N25 mil than N1.5 mil. You want a home which involves entering gbese spread over 10 years. No right thinking person wants a 1 room apartment to raise a family in some shitty location that you'll be tied to for 10 years. The right thinking person will go for a 3 bedroom apartment in a nice location since (s)he might raise a family there for up to or more than 10 years. However, it's a good deal that will involve monthly payments up to The only problem is that we live in a society with no jobs or poor job security. Correct me if I'm wrong. 1 Like |
Re: Top 6 Reasons Why the Lagos Rent-to-Own Scheme is Great by vicobosi: 7:38am On Dec 06, 2016 |
First of all, this is not fot low income earners, its for people earning from 200 and above because i don't see a level 4 to 5 civil servant being able to afford that shit. In the first place, where e get 1.5m as initial deposit or didnt i read that right? 25m to be paid in 10yrs thats around 113k per month, how many "low income earners" can afford that in these recesion age? Yet they claim to be helping.... Abegie! Its just another sham to bury people in perpetual debt. #Godsavelagocians/nigeria 2 Likes |
Re: Top 6 Reasons Why the Lagos Rent-to-Own Scheme is Great by Nobody: 7:40am On Dec 06, 2016 |
ERONX: YES!!!! |
Re: Top 6 Reasons Why the Lagos Rent-to-Own Scheme is Great by Nobody: 7:41am On Dec 06, 2016 |
vicobosi: YES!!!! u didn't 2 Likes |
Re: Top 6 Reasons Why the Lagos Rent-to-Own Scheme is Great by Nobody: 7:42am On Dec 06, 2016 |
Afam4eva:Would you rather its given to you for free? I own a 2 bedroom flat which I bought from Lagos State Government 2 years ago, and the value has practically doubled. Was it a good investment, hell yeah. I live in a well managed estate in the middle of town, and didnt have to cough out the entire value of my apartment to get it. 5 Likes |
Re: Top 6 Reasons Why the Lagos Rent-to-Own Scheme is Great by fkj950ax(m): 7:42am On Dec 06, 2016 |
Exciton: You are wrong... 60% of Nigerians live in face me I face you, (room or room and parlour) not 3bedroom flats. Most of these face me I face you are in shitty locations as you wrote. So take time to get off your high horse and remember that there is a low income group living in Nigeria. Poor people. The masses... Have you been to your driver or office cleaner or security man's house ever... |
Re: Top 6 Reasons Why the Lagos Rent-to-Own Scheme is Great by Nobody: 7:44am On Dec 06, 2016 |
Exciton: Do you plan to be stagnant for 10 years? Get one first, and figure out the rest later. I know lots of young couples that bought 1 bedroom flats and with a bit of ingenuity were able to carve out a second room. One of them that I know his income has nearly tripled in the last 18 months. |
Re: Top 6 Reasons Why the Lagos Rent-to-Own Scheme is Great by efilefun(m): 7:48am On Dec 06, 2016 |
Have you considered how much you will get a plot of land in such location, and the total cost of building such with omo onile wahala?? and hope you didnt miss the part that says its gonna be 10 years payment?? Afam4eva: |
Re: Top 6 Reasons Why the Lagos Rent-to-Own Scheme is Great by Ty207: 7:49am On Dec 06, 2016 |
ERONX:i hope you read the post from a-z Lawal said the first phase of the project would be sited in the following areas: Epe, Agbowa, Ojokoro, Alimosho, Igbogbo, Igando, Iponri, Surulere, Eti-Osa, Ajara and Badagry. The price varies according to location 25M house is okay for pple living in Surulere. so
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Re: Top 6 Reasons Why the Lagos Rent-to-Own Scheme is Great by Leyqute(m): 8:02am On Dec 06, 2016 |
Afam4eva: I don't know why you keep harping on N25m like it's the CHANGE slogan. So, what you're saying is there aren't 3-bedroom flats worth N25m around any of those areas listed? Moreover, did you consider that a one-bedroom flat for N1.5m is on the table? Thing is if it's not comfortable then people most likely won't buy it. Stop looking for negatives in things you see. 2 Likes |
Re: Top 6 Reasons Why the Lagos Rent-to-Own Scheme is Great by realborn(m): 8:10am On Dec 06, 2016 |
@Post, With the prevailing market rates of building materials, I applaud Lagos State if they are really able to deliver finished accommodation (at the right quality) for as low as N1.5m, and no higher than N25m, albeit flats. Before we harangue further, it will be pertinent to wait for the breakdown of the selling price vis a vis the respective locations. Thereafter, we can compare the LASG proposed selling price with that of the private developers in each area. Low income earners will obviously be able to benefit from the low range houses. The upper range will be very beneficial to mid income earners who pay exorbitant rents in Surulere, Lekki and related environs where these houses will be located. Kudos again to LASG. 1 Like |
Re: Top 6 Reasons Why the Lagos Rent-to-Own Scheme is Great by PortableAngel: 8:13am On Dec 06, 2016 |
Orikinla: And will you pay for the house in ten years, in installments with your salary? |
Re: Top 6 Reasons Why the Lagos Rent-to-Own Scheme is Great by Exciton(m): 8:17am On Dec 06, 2016 |
fkj950ax: Lol. So of what advantage is the housing scheme if we have a society with most families crammed into 1 bedroom houses? I never said it was a bad deal. My analysis only infers that such a housing scheme needs to be coupled with creation of good job opportunity for the masses. The honest truth is that, no matter the good intentions of such schemes, we will never have a comfortable society until we create true value by job creation across all sectors of industry. The citizens will always be too poor to afford the simple things of life. |
Re: Top 6 Reasons Why the Lagos Rent-to-Own Scheme is Great by mapet: 8:18am On Dec 06, 2016 |
Afam4eva: .....neither does it mean "every Lagosian" should either. There are choices, you can choose to take it or let it go. It is not when govt starts distributing houses for free that you will be contented. 1 Like |
Re: Top 6 Reasons Why the Lagos Rent-to-Own Scheme is Great by PortableAngel: 8:19am On Dec 06, 2016 |
fkj950ax: But you can still get good apartments at higly reasonable prices, the mission is to reduce the hardship when it comes to housing in Lagos. |
Re: Top 6 Reasons Why the Lagos Rent-to-Own Scheme is Great by mapet: 8:21am On Dec 06, 2016 |
Orikinla: If you have the bulk N25m at hand, then the scheme is not for you in the first place |
Re: Top 6 Reasons Why the Lagos Rent-to-Own Scheme is Great by PortableAngel: 8:24am On Dec 06, 2016 |
vicobosi: Did you realise that some of the apartments cost 1.5 million Naira, and they are going to pay for so long. so if they pay 15,000 NGN in a month, they would have finished paying before ten years |
Re: Top 6 Reasons Why the Lagos Rent-to-Own Scheme is Great by mapet: 8:26am On Dec 06, 2016 |
Exciton: 1. No right thinking person should start to raise a family fit for a 3-bedroom (size or quality), when what he can afford is a single bedroom 2. The scheme is for those who can afford it, considering both current income and future potential 3. Even in societies with the famed "job-security" (a term that I doubt truly exists), many cannot afford to buy a house. That is why America for instance keeps coming up with ways to bridge the gap, for example with the "Projects" concept |
Re: Top 6 Reasons Why the Lagos Rent-to-Own Scheme is Great by mexioni(m): 8:26am On Dec 06, 2016 |
Read well bro 1.5m to 25m so u choose the best that suits u, remember u r paying for 10years. If its the house of 1.5m u deposit 5% = 75k and balance rest for 10years it will come down as low as 12-15k monthly. Always read well before u comment. Cheers and hope u get one Afam4eva: |
Re: Top 6 Reasons Why the Lagos Rent-to-Own Scheme is Great by PortableAngel: 8:29am On Dec 06, 2016 |
realborn: Thank you o. Pls tell them |
Re: Top 6 Reasons Why the Lagos Rent-to-Own Scheme is Great by mapet: 8:30am On Dec 06, 2016 |
Bagehot: Bros, This is the "blind side" people do not consider and probably make them not to take the bold step. A friend once valued my house few years ago and told me, do you know your property is close to a million dollars? I never gave a thought to it like that until he brought it to my consciousness. We seemly want rewards, yet unwilling to pay the price |
Re: Top 6 Reasons Why the Lagos Rent-to-Own Scheme is Great by mexioni(m): 8:33am On Dec 06, 2016 |
Don't mind then let's take for instance u get the house for 1.5m, u pay only 75k noe as 5% and move in, ur monthly rent will be BTW 10-12k for 10years abeg is it not fair enuff? PortableAngel: |
Re: Top 6 Reasons Why the Lagos Rent-to-Own Scheme is Great by LaClickLaBend: 8:34am On Dec 06, 2016 |
ERONX:spread over 10 years, 25m is just 250k per year. It is very much affordable |
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