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Nairaland Forum / Nairaland / General / Investment / Home Ownership Is Mostly A Bad Investment- Expert Says (27808 Views)
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Re: Home Ownership Is Mostly A Bad Investment- Expert Says by airbrush: 7:04am On Nov 15, 2019 |
NairalandAngel: he get house he is renting so what do you want him to tell you |
Re: Home Ownership Is Mostly A Bad Investment- Expert Says by ednut1(m): 7:04am On Nov 15, 2019 |
My mother has never asked me for money since i started work because of the rent she collects. 2 Likes |
Re: Home Ownership Is Mostly A Bad Investment- Expert Says by villagecraft: 7:05am On Nov 15, 2019 |
Viking07: Thanks for sharing |
Re: Home Ownership Is Mostly A Bad Investment- Expert Says by yusufu16: 7:05am On Nov 15, 2019 |
onatisi: Thumbs up. The rate at which people crave to own house is alarming in this country. People even incurred huge debts all in the name of owning a house. After owning a house, they still live in abject poverty. 1 Like |
Re: Home Ownership Is Mostly A Bad Investment- Expert Says by SEGLIZ: 7:06am On Nov 15, 2019 |
I relate with what the expert is driving at. |
Re: Home Ownership Is Mostly A Bad Investment- Expert Says by pacehood(m): 7:06am On Nov 15, 2019 |
Read and understand before you talk. The gentle man was trying to tell us that don't take mortgages you cannot afford, it becomes a liability. Often times people take mortgage loans and can't afford to go continue paying. Most of our so called celebraties that claim to me home owners took long term home mortgages some of them can barely afford. The market is plagued with uncertainty. If you're not paying cash for your fancy duplex in lekki its better you rent and put your down payment in an investment. 3 Likes |
Re: Home Ownership Is Mostly A Bad Investment- Expert Says by cue64: 7:06am On Nov 15, 2019 |
aybabz101:you honestly didn’t understand what he meant... |
Re: Home Ownership Is Mostly A Bad Investment- Expert Says by ayandee: 7:07am On Nov 15, 2019 |
I disagree. My father died when we were young. I was 9. The first born was 16. Two years after his death, we could no longer afford rent. So landlord asked us to leave. In his lifetime, he bought 3 plots of land in a remote area of Lagos and fenced the plots. He was building a small 4bedroom bungalow on a section of the land when death came calling. He had roofed it but it was not plastered. It had no ceiling. My cousin who lived with us then (God has blessed him too today) did not even look at the quit notice twice. He went there the following day, cleared the thick bush singlehandly for 3 days and even brought plenty bush meat for us. He encouraged my mum. We sold part of the land to complete the building and put a gate. That property covered our unclothedness, our hunger. No one knew how we survived. My mum planted vegetables, maize, cocoyam, pepper, tomatoes, raised chickens. We were never hungry. There was always something to eat. It was a place of refuge for us. Several years later, a telecoms company leased part of it for its base station. As a man if you are reading this, please try to get a property no matter how small. In Nigeria, it is a safety net. Dont leave your family stranded. 38 Likes 2 Shares |
Re: Home Ownership Is Mostly A Bad Investment- Expert Says by pacehood(m): 7:07am On Nov 15, 2019 |
yusufu16:Nigerians like to talk before they think this man is making sense 1 Like |
Re: Home Ownership Is Mostly A Bad Investment- Expert Says by cue64: 7:10am On Nov 15, 2019 |
Wiseoldman:no the summary is if the money u have is just enough to buy one home that you’d live in don’t do it, invest ur money properly till u re sure u have enough to spare after buying a house... imagine living in a huge house that brings u nothing at the end of the year and been unable to meet ur daily needs.. |
Re: Home Ownership Is Mostly A Bad Investment- Expert Says by AngelicBeing: 7:10am On Nov 15, 2019 |
Viking07:Gbam ![]() 1 Like |
Re: Home Ownership Is Mostly A Bad Investment- Expert Says by OnoriodeV14(m): 7:11am On Nov 15, 2019 |
Robert Kiyosaku said this before and I agree. An asset is anything that puts money in your pocket why a liability is anything that takes away money from your pocket. Investing 40 million naira in an apartment where only you will stay for comfort is not an investment, even if you have tenants that pay rent, what he his saying is, you can get a higher percentage of investment on your money than building a house. |
Re: Home Ownership Is Mostly A Bad Investment- Expert Says by Nobody: 7:13am On Nov 15, 2019 |
This guy doesn't live in Lagos walahi, being independent from Lagos landlords( peace of mind )cannot be measured in percentages, it's priceless. 3 Likes |
Re: Home Ownership Is Mostly A Bad Investment- Expert Says by PHIPEX(m): 7:13am On Nov 15, 2019 |
Brilliant analysis but it is based on the assumption that the buy already has 40m sitting somewhere which he can alternatively invest in bonds. Most Nigerians build in phases so the advantage of bond might not apply. 6 Likes |
Re: Home Ownership Is Mostly A Bad Investment- Expert Says by Ochendo1: 7:15am On Nov 15, 2019 |
True sha. |
Re: Home Ownership Is Mostly A Bad Investment- Expert Says by onatisi(m): 7:16am On Nov 15, 2019 |
imagine someone who has just 5m naira after many years , because he wants to be a landlord and wants people to see him as successful , he will now use 3.5m or even more to build a house and most likely the funds wont even complete the house , he will move in and start saving again , i told one guy that why dont u buy a land of about 1m the first year ,cool down and use the remaining 4m to work and invest again , when the fund reach 5-6m, take 1 m for the project and be doing it like that till you finish the building project , since it is ur house , he told me the devil was using me against his dreams that he rejects the spirit of stagnation , now he is looking for loans and job to sustain his family and the building isnt even completed . and i know someone whose first building is a 4 flats but doesnt stay in it , he rented it out and he is building his 3 house now , he already has planse to build his retirement home in future yusufu16: cue64: 4 Likes |
Re: Home Ownership Is Mostly A Bad Investment- Expert Says by Mandesz(m): 7:18am On Nov 15, 2019 |
charliboy654: u are the head of all idiots. don't be quick to criticize. use your sense first 1 Like |
Re: Home Ownership Is Mostly A Bad Investment- Expert Says by dante0147: 7:19am On Nov 15, 2019 |
sotall: He did not read I am sure of that... |
Re: Home Ownership Is Mostly A Bad Investment- Expert Says by phyl123: 7:20am On Nov 15, 2019 |
Most people didn’t read what he wrote properly before commenting, he never said don’t own your own home. This just shows that some people read but don’t understand. He gave concrete reasons for owning your own home which applies to most situations in Nigeria and he is right, if you are not planning on living in your home for at least 10 years then it’s a bad investment. He also gave other reasons. |
Re: Home Ownership Is Mostly A Bad Investment- Expert Says by Nobody: 7:20am On Nov 15, 2019 |
charliboy654:The guy is smart bro. |
Re: Home Ownership Is Mostly A Bad Investment- Expert Says by AntiWailer: 7:22am On Nov 15, 2019 |
helinues: What he is saying is correct. Your inability to read is the main reason for the ignorance. |
Re: Home Ownership Is Mostly A Bad Investment- Expert Says by helinues: 7:24am On Nov 15, 2019 |
AntiWailer: Why not summarise the epistles Mr readers 1 Like |
Re: Home Ownership Is Mostly A Bad Investment- Expert Says by cue64: 7:24am On Nov 15, 2019 |
onatisi:thats the mentality we are talking about, I want to be a landlord, By all means... 2 Likes |
Re: Home Ownership Is Mostly A Bad Investment- Expert Says by nick50(m): 7:25am On Nov 15, 2019 |
As an Igbo man I understand the message... Its better to build a commercial apartment and rent it out than to build a private residence house for urself cos the former will earn u more money while the later will not...before u buy one private car for urself make sure u have 2 commercial buses earning u money 6 Likes |
Re: Home Ownership Is Mostly A Bad Investment- Expert Says by Nobody: 7:26am On Nov 15, 2019 |
This is why FG wants to regulate social media. Any craze person go just wake up, flaunt craze inspiration on social media. 1 Like |
Re: Home Ownership Is Mostly A Bad Investment- Expert Says by etukiniini(m): 7:32am On Nov 15, 2019 |
It is good that we understand someone first before commenting. He is making sense. In a year, he will have a nice rented apartment at 1.5m and have 3m as profit, and still have back his 40m. 3m ×10yrs = 30m profit. U decided to acquire a liability, pls who is wiser? Rem he did not say u should not own a house or property take note. Pls we r all children of God, we should learn not to abuse someone it was opinion not a fight, let's try to love our self's. Love u all 3 Likes |
Re: Home Ownership Is Mostly A Bad Investment- Expert Says by JuanDeDios: 7:33am On Nov 15, 2019 |
charliboy654:He said "do the math", but instead of doing just that you go on an emotional rant. |
Re: Home Ownership Is Mostly A Bad Investment- Expert Says by Ndipe(m): 7:33am On Nov 15, 2019 |
If you can afford to buy a house, then why rent? 1 Like |
Re: Home Ownership Is Mostly A Bad Investment- Expert Says by JuanDeDios: 7:34am On Nov 15, 2019 |
etukiniini: At least, someone with sense is here. Let's not give up on Nairaland yet. |
Re: Home Ownership Is Mostly A Bad Investment- Expert Says by Mires: 7:36am On Nov 15, 2019 |
He's somewhat right. Few days ago my landlord told me that he regretted investing in his money after retirement from oil and gas in building houses for tenants. That the block he used N50m to build can give him only N2.5m annually if the entire flats are rented. Meanwhile, there are five units of decent virgin one bedroom flat yet to rent (Ph residents if you are interested, buss me. Goes for about N400k each. Over make sense worry am. 24 hour water supply and a lot of facilities. Na only bad road affect the house). But if he had used the money on TB, he would be getting at least N5m annually even if TB is at 10%. That he knew all these but invested in the building for his children. Since some children might abuse cash in his absent. He said worst still is the fact that some tenants instead of renewing his rent will be telling him, "Oga Landlord, what do you want to use all these money for". He said the way some of his earlier tenants handled his house has made him to put caution fee in his new houses. 1 Like |
Re: Home Ownership Is Mostly A Bad Investment- Expert Says by obumslow: 7:48am On Nov 15, 2019 |
Wiseoldman: I agree totally with you on this. Imagine spending #40m building say 5 blocks of flats and rent each at 500k, it will take you about 16years to realize the #40m invested (that is without any maintenance and having very committed tenants all year round - no stories, no parking out). Whereas you can make more than #4m on a mutual fund market per annum. Better build a 5/6-rooms very well maintained hotel with a superb restaurant and bar with a good parking space. But I must advise, own your own house before thinking of investing in housing or real estate. 1 Like 1 Share |
Re: Home Ownership Is Mostly A Bad Investment- Expert Says by crafteck(m): 7:49am On Nov 15, 2019 |
Naija don't like truth... 1 Like |
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