Ndlistic:
Property gurus in the house, please, how long will it take someone that saves at least 400k - 450k a month to complete a 3 storey building in the South East?

Let's say land is already available.

Again, would you advise build own personal house (duplex) first or build a 3-deck house for rentage before building own personal house?

Thanks.

Note: I Said savings, not earnings. Thanks

Build hotel or serviced apartments for daily money. Fxck duplex and monthly rent.

Don't start by saving 400k every month. Instead use that 400k every month and buy materials for whatever type of building you want to do. Because prices of building materials ain't smiling and won't wait for you to save up something big. Prices are steadily increasing. Don't make that mistake.
If you can't run, walk. If you can't walk, crawl. But by all (Legal) means, keep moving!

10years

God e be like say you just bring me come this world come abandoned me, some people dey save 400k while my Annual salary is not up to 500k,na until I go do evil to make am you go come remember me.I am not happy seriously.

[quote author=Ndlistic post=111342419]Property gurus in the house, please, how long will it take someone that saves at least 400k - 450k a month to complete a 3 storey building in the South East?

Let's say land is already available.

Again, would you advise build own personal house (duplex) first or build a 3-deck house for rentage before building own personal house?

Thanks.

Note: I Said savings, not earnings. Thanks[/quote Build for rent first

A decent house

First of all in my advice is that if you can build 3 story buildings then out of that building and rent out the remaining buildings then plan for your own house and boost your monthly income and savings for the future plans may God continue to bless you more and me too , though for my own after that I will build 6 bedroom mansion for myself

Just like that? Oga get the plan of the house first?

Just say 4.8 million a year

TUTU147:
God e be like say you just bring me come this world come abandoned me, some people dey save 400k while my Annual salary is not up to 500k,na until I go do evil to make am you go come remember me.I am not happy seriously.

comrade Poco tuah

I hope you have done a cost estimate of building a 3 storey house, it will be in the region of 30-40m. I would advise you to go for something you can finish in 2 or 3 years. In that case, you can go for 5 units of 1bedroom flats or 3 units of 2 bedroom flats. You can plan something bigger when your income grows significantly.

fastseo:
400k in per month could build you 3 deck building in few years. What i mean here is that 3 deck could cost you anything from 45m to 55m.

Note the type of engineer you employed will determine the cost. Are you buying your materials your self, will you be on ground to monitor the usage of materials? This will cut the cost down to what i wrote up there.

Dont be scared with that amount i quoted. Just start with what you have by the time you put in 25m you would have roof it.

.
You right it will take him almost 9 years to finish that base on that 400k monthly, it is better make he build 3 bedrooms for himself

Na person wey nor get money dey seek advice like this
Bob the builder

fastseo:
400k in per month could build you 3 deck building in few years. What i mean here is that 3 deck could cost you anything from 45m to 55m.

Note the type of engineer you employed will determine the cost. Are you buying your materials your self, will you be on ground to monitor the usage of materials? This will cut the cost down to what i wrote up there.

Dont be scared with that amount i quoted. Just start with what you have by the time you put in 25m you would have roof it.

You are on point. Note that price of materials will still increase
Fencing alone will take 1.5 million with gate
Foundation like 8million
Decking and lintel like 4 million for each floor * 3
Long span roofing with wood n other things 3 million
Block work and labour still dey
Materials are expensive now.

@ndlistic
with the rate of inflation you’ll probably get a quotation of 40M ish for an average 3 story building project.

back to your question, it will take you about 7 years or more to gather such amount.

using such amount to build a residential building with renovating and re-renting a flat when a previous occupant moves out, how long do you think it will take you to gain your ROI ?


i’m not a financial adviser but i must tell you, instead of opting for residential real estate try commercial real estate investment. It’s easy to maintain and very much profit profitable when compared to residential real estate. DYOR

Any type of house depending on how long you can wait till the house ready, if you can wait start or wsit till save till a year, a nice two bedroom you can complete and if longer three bedroom and if wait for two to three years or more you can even raise duplex,
all depend on how long you can save

Ndlistic:
Property gurus in the house, please, how long will it take someone that saves at least 400k - 450k a month to complete a 3 storey building in the South East?

Let's say land is already available.

Again, would you advise build own personal house (duplex) first or build a 3-deck house for rentage before building own personal house?

Thanks.

Note: I Said savings, not earnings. Thanks

Ndlistic:
Property gurus in the house, please, how long will it take someone that saves at least 400k - 450k a month to complete a 3 storey building in the South East?

Let's say land is already available.

Again, would you advise build own personal house (duplex) first or build a 3-deck house for rentage before building own personal house?

Thanks.

Note: I Said savings, not earnings. Thanks

If you are already married, Get another land first. Build 2bedroom bungalow there. You can decide to park into that one or use it for rentage then start your 3 deck building.
My reason is that if you are married, your family will soon need to be relatively comfortable wherever they are. That is where the bungalow comes in. With the adjustment from personal duplex to bungalow, you can take your time to build the 3deck without rush.
Thereafter God will strengthen you to build the duplex

Snails:
First of all have a cost plan. Like how much is rod, cement, labour, water, just have and know the estimate of the building materials you will need to complete the 3storey building.

Then every month you know how you can allocate the resources to the project.

But if you wan build 3storey with 500k budget per month, just know say e go take you up-to 5years to complete.

Lol... brother, it depends oo, I am struggling to finish sets of apartment (bungalow) for two years now with 8m cash before I started the building and I have put over 4m after the the initial 8m cash making it 12m plus still not completed land and land documentation already settled before embarking on the building....some modern story business buildings takes over 50m pending on what you want and taste of finishing.... building is not just the block work oo, but finishing....so from ur estimation of 30m base on ur 500k per month for five years may not be feasible if he is embarking on 3story with double apartment on each deck .....

The best is to get a loan facility to execute the project of 3 storey building now in which the monthly repayment plan will be within 400k - 450k.
The reason being that, the cost of building material is not stable also considering the time value of money. once you do this, you will continue to enjoy the rental income from now while servicing the loan as against staying the construction for several years before completion.
I am speaking from personal experience

Ndlistic:
Property gurus in the house, please, how long will it take someone that saves at least 400k - 450k a month to complete a 3 storey building in the South East?

Let's say land is already available.

Again, would you advise build own personal house (duplex) first or build a 3-deck house for rentage before building own personal house?

Thanks.

Note: I Said savings, not earnings. Thanks

My brother not by saving oo just start that building asap
Miracle will happen is determination

Wish u best of luck

Freestainworld:
Build 3 storey building for rental first, park in into one of the flats while leasing the remaining flats out, then gradually plan properly on how to build private house later.

Love this

Ndlistic:
Property gurus in the house, please, how long will it take someone that saves at least 400k - 450k a month to complete a 3 storey building in the South East?

Let's say land is already available.

Again, would you advise build own personal house (duplex) first or build a 3-deck house for rentage before building own personal house?

Thanks.

Note: I Said savings, not earnings. Thanks

Oga sypder880 abeg help this guy.

Ndlistic:
Property gurus in the house, please, how long will it take someone that saves at least 400k - 450k a month to complete a 3 storey building in the South East?

Let's say land is already available.

Again, would you advise build own personal house (duplex) first or build a 3-deck house for rentage before building own personal house?

Thanks.

Note: I Said savings, not earnings. Thanks

Following!

Oga is not possible ooooo you have to save for 8yrs ooooo to be able to build a two storey building

My in-law is building a 3 storey building in South East Imo state I know how much has gone down since the last 3 years he started the project

Just kuku plan for a bungalow and don't over stress yourself

Build House that you will be alive to live in not house that you will have to wait for your children to grow up so that they can finish it

3 storey building no be moi moi oooo

ogododo:


4 bedroom duplex. U do get land, consistently with 2 years you go complete am to habitable level.

Haha which kine advice be this , how person go complete duplex with 9.6million with the current price of building materials

Freestainworld:
Build 3 storey building for rental first, park in into one of the flats while leasing the remaining flats out, then gradually plan properly on how to build private house later.

exactly what my in-law did.

Freestainworld:
Build 3 storey building for rental first, park in into one of the flats while leasing the remaining flats out, then gradually plan properly on how to build private house later.

Move into, not park into.

Abaman001:


Lol... brother, it depends oo, I am struggling to finish sets of apartment (bungalow) for two years now with 8m cash before I started the building and I have put over 4m after the the initial 8m cash making it 12m plus still not completed land and land documentation already settled before embarking on the building....some modern story business buildings takes over 50m pending on what you want and taste of finishing.... building is not just the block work oo, but finishing....so from ur estimation of 30m base on ur 500k per month for five years may not be feasible if he is embarking on 3story with double apartment on each deck .....

na finishing work dey na there money dey talk , OP should better stick to what he can be able to finish in a feasible year