D

A good land is a temporary store of value. Buy in different locations, verify land documents, state govt etc. If you can buy directly from a govt or an estate better

But save in dollars for now if you're not sure

There's hunger, so lots of great bargains in naija right now

Build the house.

covid2019:
I am in a dilemma worsened by this covid19.

I am a graduate male of 29 residing in the East. I still squat with a friend, not because I don't have money for house rent. But principally because I have been unable to figure out what I want to do with my life, hence renting a house feels like a commitment that might get me stuck.

I always feel I might move anytime soon-- to either another state or abroad for masters or just practice of my profession. Note that I didn't study a STEM course.

All these while squatting, I have been saving via my proceeds from hustles.

In the wake of this COVID19, I checked all my banks and found out that money I have in my account has lost so much value given the dollar rate.

I have 11.4 million, inclusive of my working capital, plus a rickety car valued at 350k. Each time, I need just 3-5m as working capital.

It seems that trying to save more is false economy and might be counter productive.

NOW, I AM CONSIDERING buying a plot of land and erecting a small house even if it's 3 rooms. This, I think will serve as investment that will keep appreciating and also serve as residence.

Or just open a domiciliary account to hedge against naira fall and continue saving.
What do you think please?

Small advice,divide the money into two and use 1 to build a house and use the other to invest in something and you won't regret it.But keep that money to yourself make people no come Rob or poison you especially the person you are living with.

Build now if you intend to stay in Nigeria.

Building is the best

Build that house, worse case scenario you can sell it off.
If that money stays in your hand too long, get ready for it to fly away one way or the other.
Or you invest it into treasury bills which can pay you about 10% every 3 months or so. That is about 1 million naira every quarter or about 300k monthly.

Your money still remains intact.

That's the last information I received regarding treasury bills unless they have changed.

building is an investment

Go meet a financial advisor, while should I advice you for free.

Buy land and build for commercial purposes

Abobi bring the money make we chop...don't waste it on buildings

My friend move out and face life, don't be coward.

Don't build a house yet,get an apartment,invest the money but make sure you diversify your investment. I.e dont put all your eggs in one basket.By the end of this year you should have x2 or x3 of the money,Spend and Invest wisely.
I recommend forex

Just buy land and build house

Discombulator:
Go meet a financial advisor, while should I advice you for free.

Why

Your proceeds from 'hustle'?
Which type of hustle?

11 million at 29? You've done really well.

I would suggest you build a small house now... I usually advocate people put their savings in treasuries, but in the current situation, it's best to have a place you call home, and never have to work to pay rent again (even though you said you're squatting)

Hedging against the Naira makes sense, but consider that most of the things you will buy for your house will be dollar-denominated. Yes, you pay Naira for iron, doors, and paint, but all those items are either fully imported or have 80%+ imported raw materials.

Inflation is real, and even if the value of your dom account stays the same in dollar terms, the materials will be 14%+ more expensive after a year (and would have doubled in 5 years, per rule of 72).

covid2019:
I am in a dilemma worsened by this covid19.

I am a graduate male of 29 residing in the East. I still squat with a friend, not because I don't have money for house rent. But principally because I have been unable to figure out what I want to do with my life, hence renting a house feels like a commitment that might get me stuck.

I always feel I might move anytime soon-- to either another state or abroad for masters or just practice of my profession. Note that I didn't study a STEM course.

All these while squatting, I have been saving via my proceeds from hustles.

In the wake of this COVID19, I checked all my banks and found out that money I have in my account has lost so much value given the dollar rate.

I have 11.4 million, inclusive of my working capital, plus a rickety car valued at 350k. Each time, I need just 3-5m as working capital.

It seems that trying to save more is false economy and might be counter productive.

NOW, I AM CONSIDERING buying a plot of land and erecting a small house even if it's 3 rooms. This, I think will serve as investment that will keep appreciating and also serve as residence.

Or just open a domiciliary account to hedge against naira fall and continue saving.
What do you think please?

House is money consuming also you are also saving to build a house. So it's a win win.

Ensure you have money to complete the building to finish otherwise you will get frustrated in between .

GL

Btw I just finished mine after 3yrs...was it worth it. YES bcoz now it's done and dusted.
My next investment now are travel, cars and children.

Am done building unless its a commercial building

Modified: 3yrs ago 10m would build you a semi full option 2or3 bedroom bungalow, now in 2020 you won't get past roofing level with that sum. If you don't start now, you would need double that money to attain even roofing level but also God-willing our hustoz go dey double. Amen

southniyikaye:
build rooms you can let out on the land if it is a commercial or semi commercial area.
You can build some room self contain and put it out for rent.
Money to travel out will still surfice in your estimated money

Please you should donate the money to gandollar to help fight corona virus for kano state
Thank me later

So you just picked money and you don't know that building an apartment when you have money for it is the best option.
Nothing saves a man more than landed property.95% of landed properties serves as life insurance.

Build a house and rent it out

Invest in Landed property please.

You have 11.4 m and you are squatting with me I will kick your ass out. Except we are in the same G Work... You have 11m and your are Squatting bro I don’t believe you. Come plain pls... Maybe you just pick... but remember d picker and the picky one day Egugun go enter express. If it’s legit it will multiply.

vasco01:


Please you should donate the money to gandollar to help fight corona virus for kano state
Thank me later

you quoted the wrong person bro

Do palliatives to the needies pandemic Era, if their prayers help you survive the virus, God will do a massive unending thing in your life.