While buying a home is a dream for many Nigerians, homeownership is much more than just putting a roof over your head. Purchasing a home is a foundational step for building generational wealth. It’s also one of the most consistent ways to build a financial bedrock for future generations.

No matter what “wealth” looks like to you, chances are that you’re making financial decisions in an effort to get you there. For some, the definition of wealth might be a well-funded retirement. For others, it might mean being debt-free and financially independent.

Regardless of your exact financial goals, buying a home is likely an important part of the plan. In fact, for many Nigerians, homeownership can be one of the biggest factors on the road to building wealth.

What is Wealth?

At what point would you consider yourself wealthy? Is it a specific amount in the bank. Or simply the point at which you recognize you’ve obtained certain freedoms, like retirement or paying off debt?

In technical terms, wealth measures the value of all the assets you own minus the debts that you owe. However, for individuals, wealth is a lot more than just numbers on a page. To many, wealth means financial freedom and being able to pass that freedom on to later generations. While wealth can mean different things to different people, a common thread exists. Building wealth allows you to live more comfortably and securely while having the freedom to make financial decisions that work for you.
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