helinues:


Even if you are not paying tax in the village, what would be the economic value of the house in the village?

Aren't you going to maintain it?

It is this mentality that makes some of u to live without their personal houses in the village till date.

Even when I was studying estate management in the University,we were told that there are different reasons why people own houses, which could be for prestige,status,for easthetics,investment and so many other reasons.

And the above makes it culturally different in the country we live in.

Like in my culture,if u don't don't own a house in the village...it is absolutely crazy. Since it is a must that we bury our people home irrespective of where he or she dies.
To my people,it is not a waste.

realmindz:


People who fail in life are those who don’t understand that you don’t have to follow the advices of old generations. What works for them works in their time and things keep changing. Buying land or building houses is no longer an investment but liability. In an economy of persistent inflation and high fx fluctuations, buying a car is now an asset while buying land is now a liability

I disagree with u.

I live and work in Abuja. Last year April,I bought a land somewhere in Kubwa for 9.5million...early this year,the price of the land has changed to 15million. But to shock u further,the price of the land is currently going for 20million as at last month. There is no one selling for now...because even those who have one or two wants to buy more.

Investment in land is the ultimate advice anyone can give u.

Lordofalmajiri:

😀 With the rate of inflation now , I'll tell you that building appreciates more than land right now.

Both.

Skydivine:

Almost all the people that built houses in Nigeria did not have the complete money before they started. They built in piece meals . If they had waited to build an empire of business before building, their dreams would not have been realized.
16mm rod was #2500 a piece in 2013 now it’s #17000. This is just one example.
The truth is that, not everyone will build but some waste the opportunity to sight the moon while chasing stars.
Personally, the money I have lost in different business is enough to make me the biggest landlord in around here.
Let give you one personal example. Around 1998 while a plot of land was sold for #300k at lekki, I visited a wok colleague in his rented apartment and while we discussing he went in and brought out folder. Inside the folder were many certificates of stocks he owned. He said, “ some know why we are not interested in building houses” To be honest, I wished to be like him. After I left, I decided to reconsider my traditional investment strategies. Against my personal convictions and in trying to be investment savvy like my colleague, I bought #900k worth of AG Leventis shares.
The next few months, the values nose dived to half. Yet, I kept it and kept hope Then it continued the downward trend till my 900k became #40k after about 20 years in 2018. Everyone knows what a house is worth today at lekki. The AG Leventis share even finally got delisted from NSE.
Thank God for today anyway!

I have told everyone that called me concerning buying of shares to forget it. Those banks can not be trusted.

I took a cue from Robert Kiyosaki's advice. I rather buy a land.

Skydivine:


The tone of my voice is the tone of truth but unfortunately truth is bitter.
Abeokuta , the capital of a state is what you are presenting to be compared with village in Igbo land. I hope your know I was not even taking about Onitsha and Aba , Enugu and Owerri when I said Igbo villages. Why can’t you mention the Yoruba villages where they built mansions like Igbos? Even interior Ohafia is nicknamed little London because of the number of mansions there. And Ohafia is not even as beautiful as Umuoji in Anambra. This just a few.
You are looking for empirical evidence even when you are not blind. Go to any Igbo village and ask the people around who owns any of those mansions. I know the one around me and know their owners businesses. None is struggling, rather they are even doing better.
Igbos learn money management the practical way and not in school. No Igbo man ruins his business because he is building.
Don’t be too distracted to notice the directions of events around your environment.
Building a house in the village does not make any Igbo man poor.

U have spoken well my brother.

That means you saying that one should build his personal house together with apartments for rent in one land. Am i right?

Lifemanage:

Build a personal house eg 3bed and maybe some flats on a plot...is a source of yearly income

Karleb:
Building a house is overrated!

Very very overrated

seanwilliam:
actually at some point I considered doing that, but due to some reasons best known to me, I decided not to… and Moreso, I don recover so I don’t really need to, I just wished I didn’t do it that time o cos if you really know what happened during 2021 crypto super cycle , you would have understood my point..

As a single young man , if you hit it big at some point, building personal house should be your last priority ,
Invest more in what gives you the money , skills and business, rent better house for better area, then buy CAR!!!!.

Hmmm it's still can't be compare to having your own house if you have hit it big.

Though I don't have plan of building yet because I'm not even up to 30 but as soon as a business is stable and is making me more than food income omo getting land for farming and building is not bad for the person

Love800:
That means you saying that one should build his personal house together with apartments for rent in one land. Am i right?

For a start, it is good. Talking from experience. Later, u can isolate URS...also U can use one half of a plot for tenancy, another half for personal separable with a fence

chigo5:
if u travel go home whr do yo stay, hotel or ur uncles house

Nothing concerns me with going to the village. But then, the economics of building a house in the village when one does not have a nice apartment where he makes his living sounds absurd to me. It should be done when one has made a ton of money. But then, I am not just interested in travelling to any village. I use the example of my dad's friend who made so much money. He has a massive residential property in Port-Harcourt where he made his wealth before building in his village which is in another state. Only for me to be told that he now lives in Lekki where he bought another property. However, he is a minority as most people, who are average at best, will not own more than two or even one property in their lifetime. So, it is best to make the best use of one's finances. Unless the "village" is an economic hub, else, it is pointless to me.

seanwilliam:
actually at some point I considered doing that, but due to some reasons best known to me, I decided not to… and Moreso, I don recover so I don’t really need to, I just wished I didn’t do it that time o cos if you really know what happened during 2021 crypto super cycle , you would have understood my point..

As a single young man, if you hit it big at some point, building personal house should be your last priority ,
Invest more in what gives you the money , skills and business, rent better house for better area, then buy CAR!!!!.

EXACTLY! Building a house can be understood when one is married but for a bachelor? Invest the money into what produced it in the first place. Rent in a good neighbourhood. If it is a career, renting is better as it is flexible. For instance, those in the finance industry can pursue a CFA certification and use the qualification to secure better and higher-paying jobs outside Nigeria. A personal residential property ties one to a location. Unless inherited and in a major economic hub, it is not easy to leave a property a young bachelor toiled to erect.

Nice2023:


I disagree with u.

I live and work in Abuja. Last year April,I bought a land somewhere in Kubwa for 9.5million...early this year,the price of the land has changed to 15million. But to shock u further,the price of the land is currently going for 20million as at last month. There is no one selling for now...because even those who have one or two wants to buy more.Investment in land is the ultimate advice anyone can give u.

Apart from inner towns, anywhere else in Abuja is an economic and residential hub. So, Kubwa is not a "village" in the economic parlance of real estate.

Gerrard59:

Apart from inner towns, anywhere else in Abuja is an economic and residential hub. So, Kubwa is not a "village" in the economic parlance of real estate.

Some years back,in my village,Hardly would u see anyone selling land except when they want to do burial.

But today,a plot of land is going for 5million in my village. The thing is,some villages pass village.

Thanks so much.

Lifemanage:

For a start, it is good. Talking from experience. Later, u can isolate URS...also U can use one half of a plot for tenancy, another half for personal separable with a fence

Gerrard59:

EXACTLY! Building a house can be understood when one is married but for a bachelor? Invest the money into what produced it in the first place. Rent in a good neighbourhood. If it is a career, renting is better as it is flexible. For instance, those in the finance industry can pursue a CFA certification and use the qualification to secure better and higher-paying jobs outside Nigeria. A personal residential property ties one to a location. Unless inherited and in a major economic hub, it is not easy to leave a property a young bachelor toiled to erect.

Nigeria business climate change be so unpredictable sometimes. Building a house gives some sense of financial stability, and a good hedge over or against inflation. It's simply the best