I see a lot of talk about not owning the house until after 30 years. Not totally correct. A good percentage of us pay off these mortgages in half that time or less. Same thing with our vehicles. We pay them off in way less than half of the terms of the loan. Building very good credit is very critical.
One thing the most advanced and developed countries of the world have in common is, a very god credit system. It enables and empowers its citizens. The lack of this is one of the myriad of things binding Nigeria back.

chyzoo4u:


Source: https://www.facebook.com/share/p/tCf3FNt9Mh8Zod5Y/?mibextid=oFDknk

One thing about this story which we are not looking at is that from this story ,this couple were already rich in Nigeria before travelling . They are not the hustling type of couple with no money
The man was financially ok likewise the woman . Plenty boys and girls dey Naija doing business with 120m and above and they are not noisy. So the couple can combine together to buy their first house easily or doing anything they want

Proserpina:
Nairalanders and bitterness!

What if it's not mortgage?

I see couples working together to achieve their goals.

Hain!

Who do Nigerians to always learn the wrong things from events that happened?

Na UK oo... One year? ... Anyway, they did well enough to have sufficient credit score in a year. They must be earning a middle class income too.

Big congrats to them. It is obvious they werent suffering in nigeria and went there with some fonacial and probably educational advanyage that was able to earn them decentlypaying jobs over there. And then the credit system is better than that of Nigeria in terms of application.

I think the penultimate paragraphis paramount. Go when you're conviction and spirit leads you to do so. You can dream big and achieve big things in Nigeria as well; you just st have to be willing to do the work. In their case, their qill was outside and they did the work and manifested their dream life.
It is possible in Nigeria, albeit slightly harder due to the economic and social volatily briught avout by terrible policies.

Nevertheless, it is Possible.

chyzoo4u:


Source: https://www.facebook.com/share/p/tCf3FNt9Mh8Zod5Y/?mibextid=oFDknk

Some sh!theads are looking for pursuing their hubby out of their homes while the more sensible ones are doing bigger things with their hubbies

uncleck:
There's something inherently wrong about Nigeria. What you can achieve in 30 years in Nigeria, you can achieve in just 1 year abroad. Let me tell you guys few stories to buttress this point.

There's this my good friend who worked as a senior lab technician in an FMC in Nigeria. He is married with 4 children. Guess what? The upholstery in his rented apartment are all torn. Life wasn't easy till he decided to travel to Europe. Less than 4 years abroad, his entire family has joined him and he now owns a modern duplex in his hometown; something he may never have achieved even after working for 35 years in Nigeria.

There's this other guy I know. He traveled through desert to Libya then to Italy through Mediterranean sea. Six years from the time he embarked on the journey, he is now a big boy doing a lot of things with money and bringing his whole family from poverty. There are many people in this category.


The Nigerian system is designed to make you fail. I can bet with everything I have that 99% of successful people in Nigeria did so illegally. Either through bribery or corruption or kidnapping or bunkery or yahoo yahoo or drug business or armed robbery. Businesses that succeed elsewhere will fail in Nigeria unless you cheat. Every office in Nigeria is used to cheat and extort people. Gift the police 10 new vehicles and see 10 new checkpoints the next day. The way they dedicate their time collecting money from motorists....

My advice to everyone. If no member of your family is abroad, all of you should contribute and send one person...

ariesbull will never see all these good testimonies o.

uncleck:
There's something inherently wrong about Nigeria. What you can achieve in 30 years in Nigeria, you can achieve in just 1 year abroad. Let me tell you guys few stories to buttress this point.

There's this my good friend who worked as a senior lab technician in an FMC in Nigeria. He is married with 4 children. Guess what? The upholstery in his rented apartment are all torn. Life wasn't easy till he decided to travel to Europe. Less than 4 years abroad, his entire family has joined him and he now owns a modern duplex in his hometown; something he may never have achieved even after working for 35 years in Nigeria.

There's this other guy I know. He traveled through desert to Libya then to Italy through Mediterranean sea. Six years from the time he embarked on the journey, he is now a big boy doing a lot of things with money and bringing his whole family from poverty. There are many people in this category.


The Nigerian system is designed to make you fail. I can bet with everything I have that 99% of successful people in Nigeria did so illegally. Either through bribery or corruption or kidnapping or bunkery or yahoo yahoo or drug business or armed robbery. Businesses that succeed elsewhere will fail in Nigeria unless you cheat. Every office in Nigeria is used to cheat and extort people. Gift the police 10 new vehicles and see 10 new checkpoints the next day. The way they dedicate their time collecting money from motorists....

My advice to everyone. If no member of your family is abroad, all of you should contribute and send one person...

the Libya own to Italy nobi small risk ooo but u have a point sha... These guys are organised than us

Don’t let anybody put you under pressure, you can buy a house under 1 year in UK, US or Canada. This is because properties are purchased via mortgage, you don’t have to pay all at once. All you need to do is save up down payment, which is always around 5-7% of the total value. This means that if you want to buy a house of $400k, all you’ll need would be about $20k plus other fees that might make total expenses get close to $30k, using Canada as an example. The remaining payment on $400k would be spread across 25 - 30 years for the owner, thereby making a monthly mortgage payment of about $2k. So when you hear that someone has purchased a house abroad, it is not the same as Nigeria, where you have to have the whole money before you can buy. Infact I can tell you that most things people buy abroad are bought on credit. I just bought IPhone 15 pro max, the cost is about $2200. Anybody from Naija that sees it in my hand would think I made outright payment, but that’s not true, I paid about $200 down payment in total and I’ll be paying $100 per month till the payment is complete. So guys don’t let anybody put you under pressure. You’re doing well.

chyzoo4u:


I don't know about that, I just shared someone's story then emphasized that I can make enough money to buy a house in a year once I step into UK.

Which work you he dey do ,to have gotten that within 2yrs?The more you look the less you see.

Eriokanmi:
You just watch your income vanish even before collecting it. We're actually richer than most of them but na greed dey worry us for naija.

We build our own house with our money, no mortgage. We buy our own cars with our money, no need to worry or thinking about APR all the time, still buy air tickets and travel to where they love but they dare not travel as frequently as we do cos they've got bills to pay. Now tell me, who's richer?

nah. You negroes amaze me

Ghh

This is totally bad

Mindlog:


Buy a house in the UK in one year, working as what?

He needs to answer this question, or else...

Naso e easy
Omo if no be shady stuffs...

Obakoolex:
Big things happen to people here in Nigeria too even just in a couple of months, am a witness..... just that not everybody likes to loud things and put their lives in public.

The real problem with Nigeria is insecurity and dirty environment with poor infrastructure. Anytime I want my brain to be happy I just do a short vacation with my family to Europe.

Why do we like to deceive Nigerians about all these house ownership?
These people will not come out and tell the truth that it is not an outright purchase but a mortgage financed house and it will take them decades to completely pay the money.
Ownership of houses in Nigeria is mostly outright ownership.

Eriokanmi:
You just watch your income vanish even before collecting it. We're actually richer than most of them but na greed dey worry us for naija.

We build our own house with our money, no mortgage. We buy our own cars with our money, no need to worry or thinking about APR all the time, still buy air tickets and travel to where they love but they dare not travel as frequently as we do cos they've got bills to pay. Now tell me, who's richer?

And you think you are actually rich?

Smh.

uncleck:
There's something inherently wrong about Nigeria. What you can achieve in 30 years in Nigeria, you can achieve in just 1 year abroad. Let me tell you guys few stories to buttress this point.

There's this my good friend who worked as a senior lab technician in an FMC in Nigeria. He is married with 4 children. Guess what? The upholstery in his rented apartment are all torn. Life wasn't easy till he decided to travel to Europe. Less than 4 years abroad, his entire family has joined him and he now owns a modern duplex in his hometown; something he may never have achieved even after working for 35 years in Nigeria.

There's this other guy I know. He traveled through desert to Libya then to Italy through Mediterranean sea. Six years from the time he embarked on the journey, he is now a big boy doing a lot of things with money and bringing his whole family from poverty. There are many people in this category.


The Nigerian system is designed to make you fail. I can bet with everything I have that 99% of successful people in Nigeria did so illegally. Either through bribery or corruption or kidnapping or bunkery or yahoo yahoo or drug business or armed robbery. Businesses that succeed elsewhere will fail in Nigeria unless you cheat. Every office in Nigeria is used to cheat and extort people. Gift the police 10 new vehicles and see 10 new checkpoints the next day. The way they dedicate their time collecting money from motorists....

My advice to everyone. If no member of your family is abroad, all of you should contribute and send one person...

you are right about businesses

Kalvan:


It’s a mortgage not a blood oath. You don’t want to be locked in? Pay it off or sell the house and go back to renting. A mortgage system allows middle class families to own homes and property, it by far beats a system where only the wealthy can own property and the rest remain landless serfs

Hiaaa
You wan flog me?

idahme:


Mortgage matter....you can't work and buy a house outrightly in the UK only businesses can afford you that.

I live in the UK, reason I am asking him.

AfahaAbia:
Paying mortgage for another 30 years sealed!!! Nothing special about this. The worst place to own a home is in Western countries.

You mean it's worse than paying rent every year for 30 years in Nigeria without ever owning your own house?!!

I keep telling you guys that what you claim to be enjoying here in Nigeria is low tax subsidized living which isn't normal, and which will keep Nigeria backwards.


The day courageous leaders will wake up and decide that enough is enough... Many of you will realize that all these comparisons make no sense.

Mindlog:


Buy a house in the UK in one year, working as what?

I even thought he had bought a house in the UK and is living the life Fe up there. But My guy say "once I step into the UK"

IS IT OUTRIGHT BUYING OR MORTGAGE? I DOUBT THIS STORY.....NA VALIDATION U DEY SEEK

chyzoo4u:


Source: https://www.facebook.com/share/p/tCf3FNt9Mh8Zod5Y/?mibextid=oFDknk

WE PLAN HERE AND BUILD, MORTGAGE IS NOT HOME OWNERSHIP

Angelfrost:


You mean it's worse than paying rent every year for 30 years in Nigeria without ever owning your own house?!!

I keep telling you guys that what you claim to be enjoying here in Nigeria is low tax subsidized living which isn't normal, and which will keep Nigeria backwards.


The day courageous leaders will wake up and decide that enough is enough... Many of you will realize that all these comparisons make no sense.

TRUE

Eriokanmi:
You just watch your income vanish even before collecting it. We're actually richer than most of them but na greed dey worry us for naija.

We build our own house with our money, no mortgage. We buy our own cars with our money, no need to worry or thinking about APR all the time, still buy air tickets and travel to where they love but they dare not travel as frequently as we do cos they've got bills to pay. Now tell me, who's richer?

A MORTGAGE HOME ISN'T YOUR OWN TILL FULL PAYMENT

SIRTee15:


Another bad belle.
If the house appreciates and they decide to sell. Who will take the equity- them or the lender?
If they buy the house for 200k and it appreciates to 250k, them they decide to sell...
Who will go with the 50k? Them or the lender?
See why U are bad belle.

The earlier U climb into the property ladder in western countries the better, not even this period with so much uncertainty and spiraling interest rate.

chopnaira:

Even businesses and churches take on mortgages as well.

I know but that is the surest way to reach the apex in the shortest possible time.

chyzoo4u:
If you know your onions just like myself (yes, I'm bragging), you can own a house within a year in the UK unlike some discouraging stories some people like to tell.

A year? Hahahahaha

EXACTLY

RecentHistory:


Werey, but you dey Autos section dey price 20 year old Sienna.

You don't know Jack. You're just a noise maker

Remember me suffering here naija ! Any available work pls

CluelessMODS:

Look at how you are running your mouth like tap because abroad possibly favour you and some people that you know.

a dead man abroad is better than a living man in Nigeria

cococandy:
Since you know so much, are they better off renting?

Even if they don’t own it fully, the money they have in it is better than what a renter DOES NOT have in another person’s house. No?

Y’all just love to talk

Most of you guys are misinterpreting and misunderstanding people's criticisms of this story which most Nigerians love to tell without details just to make people feel that they are now big.


Yes they are better now paying mortgage than paying rent, but they should not make it look like they now own a house in the UK 100% when it's actually a mortgage house.


Say it as it is:

We have got our mortgage house after 3 years in UK or US or Canada and nobody will question or criticize you, but coming out with the bragging title: "we now own a house" when it's actually a mortgage house is deceit.


A lot of Nigerians (business owners mostly) can afford to buy outrightly, a detached or semi detached duplex in the UK, US, Canada or any other western country if not for certain factors.


Mortgage houses favor married women abroad than men, so any Nigerian married man abroad hurrying to get a mortgage house when he hasn't acquired enough properties and investments in Nigeria and in other African countries is nothing but a fool that will leave to regret it sooner or later. Only married Nigerian ladies abroad celebrate mortgage house, real Nigerian married men abroad don't celebrate such feat unless they have invested enough back home, it's not a wise decision for a married Nigerian man to do, unless your wife is working and ready to contribute 50% or more for the mortgage.


Houses are costlier in highbrow areas in Nigeria than it is in US, UK, Canada, etc.


The money used to buy just 1 plot of land in Lekki phase 1 will buy a semi detached duplex in Houston, Birmingham, Dallas, Atlanta, Halifax, etc.

The money used to buy a plot of land in Ikoyi or Banana Island will buy a celebrity mansion in most US, UK, etc cities.


Many Nigerian business owners are richer and financially better (without stress) than most Nigerians abroad, but the issue in Nigeria is the recent level of insecurity and inflation brought upon Nigerians by useless Buhari government and continued by Tinubu's stolen regime


If not for insecurity, nothing would have made me to live outside Nigeria permanently, unless they will make me President of that foreign country


If not for insecurity and high inflation in Nigeria now, anybody that owns his own successful business in Nigeria is far better off living in Nigeria than migrating abroad to do 5/9.

Imagine if $1 = NGN250, and £1 = NGN310, tell me why someone that makes a profit of between NGN700,000 to NGN2,500,000 monthly should relocate abroad? Talk more of those that make above 2.5million monthly after expenses without stress or worries?


In as much as I encourage young Nigerians of today to relocate abroad if they see an opportunity to leave legally, let's not make it seem like those back home are in horrible state when in reality, most in Nigeria are doing far better than those abroad legitimately.


Na insecurity and Naira depreciation by useless APC led governments since 2015 destroyed Nigeria and made it hopeless