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How Did You Fund Building Of Your First Duplex & How Long Did It Take? - Properties (3) - Nairaland

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Re: How Did You Fund Building Of Your First Duplex & How Long Did It Take? by Greatness09: 10:14am On Mar 10, 2023
Winters23:
Again I will say it one more time!

The obsession to "build" house and be called landlord or home owner is one of the major reasons many Nigerians are stagnant in life.

You toil for 10yrs and finally make your first 10 to 100million naira and the first thing that tops your agenda is to start building a house. Then you Bury all the money in the ground reverting to square 1.
That money is supposed to be your capital, you're supposed to put it back to wherever you got it from for profit or you can reinvest it somewhere else.

Then when your profit grows big you can upgrade your cars and maybe start building a house.

I currently own duplexes across 3 states mostly in Lagos and my home state, I didn't achieve that with my first breakthrough, I did it after lots of reinvestment.

If you want to go far in life, follow this simple logic, don't let the standards set by society control your money.

Fact ✌️

3 Likes

Re: How Did You Fund Building Of Your First Duplex & How Long Did It Take? by sukkot: 10:14am On Mar 10, 2023
why duplex specifically

2 Likes

Re: How Did You Fund Building Of Your First Duplex & How Long Did It Take? by AmazingELixir: 10:14am On Mar 10, 2023
grin

Mine is almost 10 years and counting...6 bedroom duplex.....the drive to complete it isn't there anymore since I transferred to another state due to work. Initially planned to make it my retirement home but now considering turning it to a small hotel...at some point wanted to partition the duplex and rent them out...can't deal with tenant issues. Have sunk in close to N28mil still house is far from finishing, inflation and ever increasing cost of building materials really dealt with me.

21 Likes 1 Share

Re: How Did You Fund Building Of Your First Duplex & How Long Did It Take? by IamNat: 10:14am On Mar 10, 2023
OKUCHI11:
Na wetin tie me down be this ooo

After my NYSC in 2019 ... I stayed back in ILLELA Sokoto state, I hustled till I got like 3mill... sent it home(not at once ooo) for them to help me build... E reach roofing stage... banditry set in...it made business to slow ... I dey stuck in the middle of no where... I just dey pray make banditry stop so that business can go back to normal... We are the ones facing the banditry menace first hand.... I thank the almighty Sha... Once there is Life... you know the rest...

Wow, you stayed back at illela? I also served in Sokoto, Kware Local Government, I didn't even stay a day extra after my POP.

7 Likes

Re: How Did You Fund Building Of Your First Duplex & How Long Did It Take? by peoplewww: 10:14am On Mar 10, 2023
whatmoreng:
Na who una wan "intimidate" this morning?

Hahahahha
Re: How Did You Fund Building Of Your First Duplex & How Long Did It Take? by ZombieSlayer1: 10:15am On Mar 10, 2023
My SAAS and tech agency in US and UK.
₦65M, including fittings. 2 sitting rooms (1 upstairs and 1 downstairs), 5 bedrooms ensuite, 1 BQ.
Took me 7 months to complete but funny enough I don't live there, I rented it out and currently living in an apartment in 1 of the block of flats I built. Loneliness been wan finish me there.


And then 1 office block and 2 block of residence flats. And then 1 hostel.

9 Likes

Re: How Did You Fund Building Of Your First Duplex & How Long Did It Take? by Caleb15(m): 10:16am On Mar 10, 2023
I don build finish as e reach make i park enter i come wake up

14 Likes

Re: How Did You Fund Building Of Your First Duplex & How Long Did It Take? by sameniceguy(m): 10:16am On Mar 10, 2023
Port Harcourt.

Bought the land 11m in 2021, during the peak of COVID and started construction activities 2021 July 1st.

5-Bed duplex and a penthouse all rooms in suit. Two Sitting rooms, big kitchen, ante room, Kids study, master's office and two balconies.

Completed and parked in October 2022 (2 yrs 3 months).

Total cost of about 80m.

I hope this helps

15 Likes 2 Shares

Re: How Did You Fund Building Of Your First Duplex & How Long Did It Take? by Hamachi(f): 10:17am On Mar 10, 2023
Aro agba
Winters23:
Again I will say it one more time!

The obsession to "build" house and be called landlord or home owner is one of the major reasons many Nigerians are stagnant in life.

You toil for 10yrs and finally make your first 10 to 100million naira and the first thing that tops your agenda is to start building a house. Then you Bury all the money in the ground reverting to square 1.

That money is supposed to be your capital, you're supposed to put it back to wherever you got it from for profit or you can reinvest it somewhere else.

Then when your profit grows big you can upgrade your cars and maybe start building a house.

I currently own duplexes across 3 states mostly in Lagos and my home state, I didn't achieve that with my first breakthrough, I did it after lots of reinvestment.

If you want to go far in life, follow this simple logic, don't let the standards set by society control your money.

1 Like

Re: How Did You Fund Building Of Your First Duplex & How Long Did It Take? by Dunionk30: 10:17am On Mar 10, 2023
solid3:
Hello Nairalanders, trust you are doing fine.

I will like you to share your experience with us on how you were able to fund the building of your first duplex, from land acquisition to building, to finishing. How many bedroom, how many suspended floors, what kind of finishing, and in what part of the country?

How much did the entire project cost? Did you take a loan? If yes, what was the percentage interest per annum?

How long did the project take from start to finish?

Nairaland Mod please help push to front page
Bros you are talking about Duplex ,Must it be Duplex ,It is not everyone that has the money to build Duplex ooo.

You do not even talk about 2 ,3 Bedroom flats that Man go Put His Family .

Well mine is 3 bedrooms Flat ooo,I sold some land i bought some Years ago ,The funds is what i used to build the 3 Bedrooms .

Even now i have two acres and another one Plot arround ATAN i want to sell to complete another 3 Bedrooms Flat.


W.h.a.t.s.a.p..p
Zero. eight. one .zero .six .one .zero .five ...six three ....eight .

3 Likes

Re: How Did You Fund Building Of Your First Duplex & How Long Did It Take? by Hamachi(f): 10:18am On Mar 10, 2023
grin
Caleb15:
I don build finish as e reach make i park enter i come wake up
Re: How Did You Fund Building Of Your First Duplex & How Long Did It Take? by chatinent: 10:18am On Mar 10, 2023
Bought hand for ₦409bn. Built one storey in the outskirts of Anambra for ₦920bn. Interior for ₦250bn. Fenced it for ₦312bn.


I have it like this across the 36 states.

🥱
Re: How Did You Fund Building Of Your First Duplex & How Long Did It Take? by kcdendelo: 10:18am On Mar 10, 2023
alphaconde:
Still Battling with my first

Roofing to be completed next week.

16m gone

Delta state

please which business you dey do? Connect me
Re: How Did You Fund Building Of Your First Duplex & How Long Did It Take? by weslineo: 10:19am On Mar 10, 2023
When things was okay money wise,I was able to build my first semi-detached apartment with my duplex at the font while the two bed room at the back.
I built with just my monthly salary and some private jobs i did them.Building materials were not that expensive.it took my 5-6 yrs to finish.

7 Likes

Re: How Did You Fund Building Of Your First Duplex & How Long Did It Take? by cococandy(f): 10:19am On Mar 10, 2023
thebestprice:
8m total 2011

When things were “good”. cry
Re: How Did You Fund Building Of Your First Duplex & How Long Did It Take? by kcdendelo: 10:20am On Mar 10, 2023
ZombieSlayer1:
My SAAS and tech agency in US and UK.
₦65M, including fittings. 2 sitting rooms (1 upstairs and 1 downstairs), 5 bedrooms ensuite, 1 BQ.
Took me 7 months to complete but funny enough I don't live there, I rented it out and currently living in an apartment. Loneliness been wan finish me there
please connect me to the business you dey do
Re: How Did You Fund Building Of Your First Duplex & How Long Did It Take? by Hamachi(f): 10:20am On Mar 10, 2023
Henix:
Building a house is not a child's play. Kudos to those who have succeeded in doing so
Welcome to the club

1 Like

Re: How Did You Fund Building Of Your First Duplex & How Long Did It Take? by NwaliE01: 10:21am On Mar 10, 2023
Winters23:
Again I will say it one more time!

The obsession to "build" house and be called landlord or home owner is one of the major reasons many Nigerians are stagnant in life.

You toil for 10yrs and finally make your first 10 to 100million naira and the first thing that tops your agenda is to start building a house. Then you Bury all the money in the ground reverting to square 1.

That money is supposed to be your capital, you're supposed to put it back to wherever you got it from for profit or you can reinvest it somewhere else.

Then when your profit grows big you can upgrade your cars and maybe start building a house.

I currently own duplexes across 3 states mostly in Lagos and my home state, I didn't achieve that with my first breakthrough, I did it after lots of reinvestment.

If you want to go far in life, follow this simple logic, don't let the standards set by society control your money.
You sound like someone i know.

1 Like

Re: How Did You Fund Building Of Your First Duplex & How Long Did It Take? by Nobody: 10:23am On Mar 10, 2023
Slimcanada001:
Location - Ajah, Lagos
Duration - 4 months
Nov 2021 - March 2022

Project cost including land and furnishing - Approx 70m

4 bedroom duplex with a pent house
Ante room
Library
2 living room
1 bq
Big kitchen

Saved up for it
Direct labour or contractor.It will be below that if you use a direct labour

1 Like

Re: How Did You Fund Building Of Your First Duplex & How Long Did It Take? by ZombieSlayer1: 10:24am On Mar 10, 2023
kcdendelo:
please connect me to the business you dey do
I build web apps that people subscribe to use. Currently have 4 different ones. Mostly focused on marketing, though I have a travel agency too. This is aside my software development agency in US and UK. I also run other smaller businesses too. I run a dog kennel. I breed and sell dogs though I do this one mostly as a hobby. The key is to diversify so money comes from different angles

14 Likes

Re: How Did You Fund Building Of Your First Duplex & How Long Did It Take? by whippersnapper(m): 10:24am On Mar 10, 2023
Henix:
Building a house is not a child's play. Kudos to those who have succeeded in doing so
it is easy with the right plan. some people think you must possess billions before erecting a house.

1 Like

Re: How Did You Fund Building Of Your First Duplex & How Long Did It Take? by KazikageSama: 10:25am On Mar 10, 2023
Winters23:
Again I will say it one more time!

The obsession to "build" house and be called landlord or home owner is one of the major reasons many Nigerians are stagnant in life.

You toil for 10yrs and finally make your first 10 to 100million naira and the first thing that tops your agenda is to start building a house. Then you Bury all the money in the ground reverting to square 1.

That money is supposed to be your capital, you're supposed to put it back to wherever you got it from for profit or you can reinvest it somewhere else.

Then when your profit grows big you can upgrade your cars and maybe start building a house.

I currently own duplexes across 3 states mostly in Lagos and my home state, I didn't achieve that with my first breakthrough, I did it after lots of reinvestment.

If you want to go far in life, follow this simple logic, don't let the standards set by society control your money.

I understand your point Sir and sincerely, I agree in part however, first, let's clarify that owning a house is not an obsession to only Nigerians, it's across the world and it will remain so because house is probably one of the safest ways of maintaining value (unless there's a massive recession, war or great financial meltdown in the nation). Even in Europe and the Americas, young people use their active years to invest in their housing, only difference is they are credit driven nations hence they have great mortgage system which is able to finance home purchases for up to 30years or so.
These houses can be resold or refinanced later in life to give back cash to their owners in case of need so they serve as financial security.
TLDR, the challenge is not in the euphoria to own houses, what I don't understand is why it must be "duplex" as stated by OP.

11 Likes

Re: How Did You Fund Building Of Your First Duplex & How Long Did It Take? by Moneyboyz: 10:25am On Mar 10, 2023
Update, your cheapest option is to buy a house.

I got a sweet deal on mine, 11.5 for a very beautiful house that has never been lived in on a full plot of land. I only did some minor modifications.
That's where I live now.

10 Likes

Re: How Did You Fund Building Of Your First Duplex & How Long Did It Take? by NijaDueprocess: 10:26am On Mar 10, 2023
Mine is 7 room selfcontain bungalow, started on 14th January, 2023. Borehole, Roofing, plumbing and electrical piping, and plaster done. Cost 7m so far

9 Likes 1 Share

Re: How Did You Fund Building Of Your First Duplex & How Long Did It Take? by AllDModsAreMaad: 10:29am On Mar 10, 2023
I'm currently saving 150,000 naira monthly for 5 years.

Thank you!

5 Likes 1 Share

Re: How Did You Fund Building Of Your First Duplex & How Long Did It Take? by EngrKemp: 10:29am On Mar 10, 2023
Mystic216:
Used 1 year to do strictly business and made sure I saved money for the project

Started and finished it in 4 months (1 storey)
How much did it cost.

What type of business?

1 Like

Re: How Did You Fund Building Of Your First Duplex & How Long Did It Take? by hmohammed(m): 10:32am On Mar 10, 2023
Location - Akute, Ogun State
Duration - 4 months
Nov 2022 - March 2023

Project cost including land and furnishing - Approx 50m

3 Nos 1 bedroom flat, 1 Nos 2 bedroom flat, 1 Penthouse and 1 room and toilet bq


Saved up for it.

2 Likes

Re: How Did You Fund Building Of Your First Duplex & How Long Did It Take? by saydfact(m): 10:32am On Mar 10, 2023
Took a few years without Loan.
cost - I actually didnt document that because I saw it as a moral killer......
Re: How Did You Fund Building Of Your First Duplex & How Long Did It Take? by owolabi5: 10:33am On Mar 10, 2023
CAR PAPERS
Re: How Did You Fund Building Of Your First Duplex & How Long Did It Take? by Flier: 10:34am On Mar 10, 2023
Winters23:
Again I will say it one more time!

The obsession to "build" house and be called landlord or home owner is one of the major reasons many Nigerians are stagnant in life.

You toil for 10yrs and finally make your first 10 to 100million naira and the first thing that tops your agenda is to start building a house. Then you Bury all the money in the ground reverting to square 1.

That money is supposed to be your capital, you're supposed to put it back to wherever you got it from for profit or you can reinvest it somewhere else.

Then when your profit grows big you can upgrade your cars and maybe start building a house.

I currently own duplexes across 3 states mostly in Lagos and my home state, I didn't achieve that with my first breakthrough, I did it after lots of reinvestment.

If you want to go far in life, follow this simple logic, don't let the standards set by society control your money.
It is poverty mentality and majority of them dont use to get out of it because i dont see how you get loan or use your capital to build a house
Infact the money should be use for expansion if you have business already and a time will come when your mnthly profit might even be enough to build a duplex

3 Likes

Re: How Did You Fund Building Of Your First Duplex & How Long Did It Take? by olatuns2017: 10:36am On Mar 10, 2023
I want to buy land in Anambra

I heard south Easterners do not sale land to outsiders in south East


Lagos Good morning

2 Likes 1 Share

Re: How Did You Fund Building Of Your First Duplex & How Long Did It Take? by highchief1: 10:38am On Mar 10, 2023
alphaconde:
Still Battling with my first

Roofing to be completed next week.

16m gone

Delta state

16m with roofing?after lane or before land.what part of delta state.

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