mployer:


He couldn't have saved money for 3 yrs.

He came from Nigeria, he won't start practicing immediately. He will need some form of accreditation and licensing before practicing which will take close to a year.

He won't start saving the moment he starts practicing. He need to sort out accommodation, maybe get a car and pay up some outstanding debts.

Let's say he saved €500 per month in the third year, that will amount to paltry €6k.

The house is valued at 250k. Do the maths.


And what makes you think a Doctor in England cannot be a Yahoo boy? I mean, do they make more money that Yahoo boys?

If you don't know why don't you ask-- people are getting jobs right from Nigeria...

Who says you don't practise immediately and what licensing again?

I know people that saved 20k in one year, so what's the biggie.

What's the biggie in getting a house?

I was at the Barber's and a guy was talking about how he got his 1st house at 19... So why can't a Doctor get a bloody house.

Abegi!

erico2k2:

But you are also 4getting that a bigger hoyse means bigger equity plus a good retirement!

In Canada, big houses starts from like 1800sq ft
A bigger house means bigger property tax, bigger repairs and maintenance, bigger heating bills, bigger interest rate payment, bigger insurances (both home and mortgage) etc. Bigger houses also means tougher to sell houses. Good pension fund determines good retirement in my opinion, especially a pension where your employer matches your contribution.
Maybe it's different in the UK Sha.

salford1:

In Canada, big houses starts from like 1800sq ft
A bigger house means bigger property tax, bigger hom bigger repairs and maintenance, bigger heating bills, bigger interest rate payment, bigger insurances (both home and mortgage) etc. Bigger houses also means tougher to sell houses. Good pension fund determines good retirement in my opinion, especially a pension where your employer matches your contribution.

Our employer matches our contribution in fact pay more than we contribute, in the UK Big houses are not hard to sell, in fact, they sell quick. we got the sportsmen and actors etc.Real estate is the ultimate in the UK. Owning a big house and complaining about heating is like driving a V8 G wagon and complaining about fuel cost! But in all the Uk is much different to Canada I must say!

erico2k2:

Our employer matches our contribution in fact pay more than we contribute, in the UK Big houses are not hard to sell, in fact, they sell quick. we got the sportsmen and actors etc.Real estate is the ultimate in the UK. Owning a big house and complaining about heating is like driving a V8 G wagon and complaining about fuel cost! But in all the Uk is much different to Canada I must say!

I see what you mean. Here standard houses are between 1200 sq ft to 1600sq ft. For $500k, you can get a house that is over 2000 sq ft in many cities. When people buy such, they usually don't think about all the extra expenses that comes with keeping such. When the expenses and other housing taxes plus bills starts coming in, that $2500 a month in mortgage payment quicky turns to $4000 a month. Credit is also easy to get here so people fall easily for such. It's not common for new immigrants to Canada to buy a house in under 6 months of arrival without properly understanding how the credit system works. Afterall, the bank will even approve a $2000 credit card a day or two after arrival.

HBB1:


If you don't know why don't you ask-- people are getting jobs right from Nigeria...

Who says you don't practise immediately and what licensing again?

I know people that saved 20k in one year, so what's the biggie.

What's the biggie in getting a house?

I was at the Barber's and a guy was talking about how he got his 1st house at 19... So why can't a Doctor get a bloody house.

Abegi!

I have friends that are professionals in various fields in the UK.

It took years before they started making the little money they are making. And I tell you if they save 20k for two consecutive years they will back to Nigeria

salford1:

I see what you mean. Here standard houses are between 1200 sq ft to 1600sq ft. For $500k, you can get a house that is over 2000 sq ft in many cities. When people buy such, they usually don't think about all the extra expenses that comes with keeping such. When the expenses and other housing taxes and bills starts coming in, that $2500 a month in mortgage payment quicky turns to $4000 a month.

After the credit crunch, the govt introduced legislatures to checkmate indiscriminate lending, a person must have the means b4 he can borrow!if you come to the Docklands, there are loads of Empty new flats cos of that, average deposit in London is £35k houses are like £350 to 400K standard, that's a 2 bed house. The bigger house I must say are in the countryside, in the city nahhhh, if you go to Hamstead and Chelsea that's where stars live, u will see £200k cars park outside cost there ain't no space in the yard

mployer:


I have friends that are professionals in various fields in the UK.

It took years before they started making the little money they are making. And I tell you if they save 20k for two consecutive years they will back to Nigeria

ahahahah

erico2k2:

After the credit crunch, the govt introduced legislatures to checkmate indiscriminate lending, a person must have the means b4 he can borrow!if you come to the Docklands, there are loads of Empty new flats cos of that, average deposit in London is £35k houses are like £350 to 400K standard, that's a 2 bed house. The bigger house I must say are in the countryside, in the city nahhhh, if you go to Hamstead and Chelsea that's where stars live, u will see £200k cars park outside cost there ain't no space in the yard

I see. Space is prime in the UK. Here space is plentiful. On my street, every one has a house that is at least 1800 sq ft with atleast 4 parking space . Some even have extra space for their recreational vehicles or boats. You don't really need to go into the countryside except you are a farmer. Lending here is still sort of indiscriminate. Weaker controls. To buy the biggest house on the block, just look for an Indian broker with the biggest sign board in town. If you default, the bank will just take over and resell. In Alberta for example, people just post the keys to the bank. Ruined credit comes after. The bank doesn't mind. it's a win win for them. There are lots of immigrants that will be in the market for the biggest house to impress his friends and church people. . The cycle repeats itself.

mployer:


I have friends that are professionals in various fields in the UK.

It took years before they started making the little money they are making. And I tell you if they save 20k for two consecutive years they will back to Nigeria

mployer:


I have friends that are professionals in various fields in the UK.

It took years before they started making the little money they are making. And I tell you if they save 20k for two consecutive years they will back to Nigeria

Guess your friends are broke!

erico2k2:

Where did you get this help to buy analysis of yours from? Please have a read of what help to buy means, its part mortgage part rent.Ur mortgage is reduced to 30% of the value of the house this is what ur deposit is based on the other balance % you pay as rent,

There are different ones. The one I described above is what he did. Trust me. The info I gave above is genuine 100%. Google is your friend. If not so please come back and refute. I am 100% positive about this...trust me.

Nice House. Very good atmosphere. I have a plan to trip to the UK for business purpose. I worked at content writing company Kochi. one of the best company in Kerala. If you are looking for content for your service, please contact me.

obailala:
Loads of people also prosper in Nigeria where the system doesn't work, and there're also people in those places where things work who haven't prospered like this after decades. SO in summary, it's an individual thing.

God will bless you more for this, we can prosper anywhere, not everyone got a job in the western world, they have their issues too

bolayei:


Canada na English colony

Yea.... they still pay homage to the queen of England

erico2k2:

Doctors in the Uk are termed key workers so benefit from the help to buy scheme, so you are allowed to mortgage 30% OF THE TOTAL VALUE OF TEH HOUSE ,You can even have a deposit as low as £5k

That’s what I mean, Nigerians will think he got the house just same way we build in Nigeria not knowing what are involve

EgunMogaji2:


You can sell a house that you mortgaged.

Zillow.Com

Thanks for the information

birdmansoho:


Where compared to Nigeria? Canada or the UK?

Both..... it’s easier to work and earn in Nigeria because even if you don’t go to work sometimes in Nigeria you still get paid, breaks and off re paid in Nigeria, you can gist around during work hours in Nigeria but Canada? No, especially when you re being paid in hours, lunch breaks re not paid, even using ur phone during work hours is a 90% no. But in Nigeria everything works

what if he never plans coming back to the country

naijadrivablog:


Learn to read and comprehend. I said he should have built in Nigeria 1st before buying a house there.

bilulu:

Thanks for the information

You’re welcome.

Zillow will tell you when the house was sold last and how much.

You can also make an offer even if it’s not for sale.

One has to be creative in real estate to be successful.

bilulu:

Both..... it’s easier to work and earn in Nigeria because even if you don’t go to work sometimes in Nigeria you still get paid, breaks and off re paid in Nigeria, you can gist around during work hours in Nigeria but Canada? No, especially when you re being paid in hours, lunch breaks re not paid, even using ur phone during work hours is a 90% no. But in Nigeria everything works

But there are so MANY people looking for work in Nigeria. People that are able to and want to work but there is just no work. I know there are lots of cultural differences in other countries but at least you are able to earn if you want to.

erico2k2:

Once upon a time in the Uk we had 0% mortgage! until the credit crunch.

When was that?

sonnie10:

Same question I asked. In fact only bank is privy to the information regarding buyer’s % contribution to the mortgage
The seller has nowhere of knowing who contributed what during the transaction.
It might even interest you to know that the seller is more likely to get his money faster in a bank finance option and from an individual who pay 100%. That is how effective the system is.
There is a reason the banks would run the transaction through an underwriter.

There have been cases of dodgy solicitors taking buyers money and disappearing.

House loan that will be paid over 36 years install-mental.

tot:


But there are so MANY people looking for work in Nigeria. People that are able to and want to work but there is just no work. I know there are lots of cultural differences in other countries but at least you are able to earn if you want to.

I mean those who re working. Not referring to the unemployed. Again you can make money anyhow in Nigeria like those road sellers, and those undocumented jobs which are not taxed but here you don’t have such. Which ever job you do you can’t evade tax cuz if you do and you re caught you re sorry

EgunMogaji2:


You’re welcome.

Zillow will tell you when the house was sold last and how much.

You can also make an offer even if it’s not for sale.

One has to be creative in real estate to be successful.

Which country are you

bilulu:

I mean those who re working. Not referring to the unemployed. Again you can make money anyhow in Nigeria like those road sellers, and those undocumented jobs which are not taxed but here you don’t have such. Which ever job you do you can’t evade tax cuz if you do and you re caught you re sorry

Right, I get you now.
But at least you see the impact of the tax you pay.

tot:


Right, I get you now.
But at least you see the impact of the tax you pay.

Yea we see the impact of the tax we pay. A major reason people reluctantly pay tax in Nigeria because one idiot will use it to go lodge one girl in Dubai

bilulu:

Which country are you

I’m in Nigeria.

Many are so naive and speaking with absolutely no knowledge and misrepresentation on so many topics including this when it comes to real estate.

Someone made a good point here. What is the BIG DEAL IN PURCHASING A HOUSE or CAR?
If every NIgerian in USA, Canada, Europe started bragging about homes we own. This site would crash.

When people brag they are in reality failures, have a serious complex and covering up some deep seated inferior complex.

Sadly NIgeria at this point in time is not a place to achieve goals and dreams ( without corruption, bribery, etc ) even with the best focus and planning.
But NIgeria definitely go better .
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bilulu:

Yea we see the impact of the tax we pay. A major reason people reluctantly pay tax in Nigeria because one idiot will use it to go lodge one girl in Dubai

Rubyventures:


When was that?

In the early 2000s

Exactly what am talking. Leave and get bigger