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Nairaland Forum / Nairaland / General / Family / Do I Build A Small House Now Or Keep Saving? (59647 Views)
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Re: Do I Build A Small House Now Or Keep Saving? by Nobody: 11:27pm On May 01, 2020 |
yanabasee1: @ OP, hope you are not pretending to be a pauper with your friend who is harbouring you? Like, you buy fuel, food, etc? And not have him think he has to take care of you? I would change my Naira to Dollars or Euros if I were you sha(I would probably lose upto 100/200K with this, but I would be more comfortable having stable money. Or I would buy gold. I would do these two ahead of buying land. Okay, maybe leave the gold, get Dollars. With the projections they are making, the Naira is likely to fail even more...and it’s to your benefit. Don’t buy land in unstable times- you don’t even know the future of this country what with BOTH Chinese and western interests ![]() |
Re: Do I Build A Small House Now Or Keep Saving? by bizhop01: 11:28pm On May 01, 2020 |
Donate 11 million to government until you figure out what to do with money, I think you will safe more life's because federal government still need more funds to combat covid19, God/Allah bless you in advance. |
Re: Do I Build A Small House Now Or Keep Saving? by CeeManCollins(m): 11:29pm On May 01, 2020 |
11.4m is not a lot but a very good money for someone of your age and economy. First off show your friend some kind of appreciation for putting up with him while you saved cos the story my change if he finds out you have such for money for such investment. Next take a couple of thousands and show love to your kinsmen; your immediate kindred. Buy some bags of rice, cartons of indomie, Cartons of tomatoes and bags of salt. I don’t go to church nor believe in prayers but believe me they will genuinely pray for you and appreciate your kind gesture, your good deeds and their prayers for you to multiply will guide you so you don’t into the wrong hands or investment going wrong. Secondly, get a land close to a higher institution and build a modern self cons like ten rooms, while buying the land go a little further inside where u can get the land cheaper wants u make it a modern building students will pay good rent. We will be in this corona era a little longer and their will be more lockdowns that will run into months and people will sell land cheap when that time comes. Bro forget about going abroad for now. If you need more advice pls contact me. I wish you luck. 8 Likes |
Re: Do I Build A Small House Now Or Keep Saving? by Graxie(f): 11:31pm On May 01, 2020 |
Poorboy:Some women no send oh, including mothers. It is truly well. |
Re: Do I Build A Small House Now Or Keep Saving? by covid2019: 11:32pm On May 01, 2020 |
psalmuelwater: I am not squatting because I can't pay rent. I don't show off or brag. Besides the friend I stay with is a post grad student. He stays in his family house and very conservative. I foot many bills there. In fact the last small renovation cost me circa 200k. I buy food stuff too, gas, run errands etc. It's a family house . No rent is paid. The only thing is that I have no girlfriends, no social life and no show off. Took me 6 years to save this money. 9 Likes |
Re: Do I Build A Small House Now Or Keep Saving? by dukeprince50: 11:33pm On May 01, 2020 |
Timothyoj:The value of a house 20years ago is not thesame today, Architecture bring up new designs and the one which seem cool 20years ago is no more what it use to be. There was a time brick house has worth, them block house came, now we have glass house. House doesn't appreciate o, don't be deceived. In the next 20years, u will see a lot of sky scraper in places like Lagos, PH etc, the normal house today won't be of much value then |
Re: Do I Build A Small House Now Or Keep Saving? by gfullmoon(m): 11:33pm On May 01, 2020 |
Squatting while you have almost #12M in your account make this story a Class A Fiction. 3 Likes |
Re: Do I Build A Small House Now Or Keep Saving? by covid2019: 11:34pm On May 01, 2020 |
SIRKAY98:Loan from where please? |
Re: Do I Build A Small House Now Or Keep Saving? by yemkoguru(m): 11:34pm On May 01, 2020 |
Graxie: ![]() 1 Like |
Re: Do I Build A Small House Now Or Keep Saving? by covid2019: 11:35pm On May 01, 2020 |
Samm9y: It took me 6 years to save that money. I live a frugal life. 5 Likes |
Re: Do I Build A Small House Now Or Keep Saving? by frozen70(f): 11:36pm On May 01, 2020 |
covid2019: From my own point of view, if you want to buy land, it's a good idea rather than savings and the money will be depreciating But you have to decide where you want to buy the land Lagos is OK, if you reside in lagos Get a plot of land, build a mini flat like three sets and put it up for rent then you take one for yourself You can build by the back and corner portion of the land and keep the middle /front for your own main building If you have 11m, you can achieve upto complete roofing with 7m I will advise you go straight to building than fencing, fencing a land is equivalent to building a bungalow after building, you fence if you want With time you plan for your self what you want the main building to be or how you want it to be Dollar is rising because CBN are not selling this period and all the horders are using the opportunity sell high to make money this period Once you have money at hand, it's valuable depreciates but the moment you put it into building, it appreciates Is like buying a car, once you drive out a car from the show room, the value deprecates but as it is in the showroom or car marts, it has its value Forget about buying cars, people will put eyes on you because of your age And pls remember, build in silence, the world is a bad place you don't know who is genuinely happy with you and for you 4 Likes 1 Share |
Re: Do I Build A Small House Now Or Keep Saving? by Pandev(m): 11:37pm On May 01, 2020 |
Build a portable house. Use the rest to invest. See my SIG for bitcoin business |
Re: Do I Build A Small House Now Or Keep Saving? by Sirmuel1(m): 11:37pm On May 01, 2020 |
covid2019: It would cost you 3m - 5m to build a small House in the Village. Erect a building and plan other stuff. |
Re: Do I Build A Small House Now Or Keep Saving? by covid2019: 11:39pm On May 01, 2020 |
afroxyz: I foot many bills there. In fact the last small renovation cost me circa 200k. It's a family house . No rent is paid. |
Re: Do I Build A Small House Now Or Keep Saving? by yemkoguru(m): 11:40pm On May 01, 2020 |
covid2019:madooooooh |
Re: Do I Build A Small House Now Or Keep Saving? by Ibeme: 11:41pm On May 01, 2020 |
covid2019: You are a smart man with what you have achieved already. Opening a domiciliary account is by far the best option. Naira will depreciate drastically with oil price and IMF conditions, and with what's to come in the economy, people will need to sell properties to raise cash to stay afloat. Keep yourself in a market with demand (dollars) and stay out of a market that will have oversupply (Housing) after this period. The domiciliary account will buy you a bigger house at the end of this COVID period. 5 Likes |
Re: Do I Build A Small House Now Or Keep Saving? by covid2019: 11:41pm On May 01, 2020 |
foodonly:Took me 6 years. Austerity measures, no girlfriends too 3 Likes 1 Share |
Re: Do I Build A Small House Now Or Keep Saving? by yemkoguru(m): 11:43pm On May 01, 2020 |
covid2019:hmmm |
Re: Do I Build A Small House Now Or Keep Saving? by Pavicx(m): 11:43pm On May 01, 2020 |
BrO you are 29 oo Build a house Marry Make kids Just be HAPPY Just LIVE BIKO Unless you want to rule the world Then you can continue waiting for the money to get bigger |
Re: Do I Build A Small House Now Or Keep Saving? by yemkoguru(m): 11:43pm On May 01, 2020 |
covid2019:mehn |
Re: Do I Build A Small House Now Or Keep Saving? by Euegene100001: 11:43pm On May 01, 2020 |
On today’s episodes of things they are not true .29 years old guy squatting with 11 plus million. ![]() 3 Likes 1 Share |
Re: Do I Build A Small House Now Or Keep Saving? by yemkoguru(m): 11:44pm On May 01, 2020 |
Pavicx:fact it's time to settle down |
Re: Do I Build A Small House Now Or Keep Saving? by ericmor: 11:44pm On May 01, 2020 |
dukeprince50: I don’t advice to hold the money bcs it may loose value in the future, so I rather advice to build for rent just to make more money and also land don’t depreciate. This is Nigeria where the unexpected do happen |
Re: Do I Build A Small House Now Or Keep Saving? by yemkoguru(m): 11:44pm On May 01, 2020 |
... |
Re: Do I Build A Small House Now Or Keep Saving? by covid2019: 11:45pm On May 01, 2020 |
Horlardorjah: Could you please elucidate on how to go about this real estate flipping? 1 Like |
Re: Do I Build A Small House Now Or Keep Saving? by TheGreatIYANU: 11:46pm On May 01, 2020 |
covid2019: Bro I just want to know what business (hustle) you do that yields appx 7m from 3-5m? As for your question, DONT DARE THINK OF GETTING FX now! The value depreciation you're talking about will raise to power 10 once you make this deadly mistake! Dont even build, except it's for commercial purpose. Like someone adviced here, you can get cheap land now and build in a central area or location close to à busy place e.g. a Uni. Apart from that my bro dont do anything major now as the economy is very volatile and we dont know the extent to which this pandemic will go. They say we are yet to reach the peak of our own curve so just chill. Also, I would really love to know what you do bro. This is not a diss. I need another stream of income and I'm open to great ideas. You can email me - thegreatiyanu@gmail.com |
Re: Do I Build A Small House Now Or Keep Saving? by TwistedInsane: 11:47pm On May 01, 2020 |
OP, your side sweet o. Just trasnfer me like 50k mah take see front for this lockdown nah. No be my fault. Even after lockdown, I still need to hunt for jobs after getting laid off due to the pandemic. Nairalanders, please help a brother. Wetin hunger don do me this period, omo no be here. Na beg I dey beg una o! 0035819361 |
Re: Do I Build A Small House Now Or Keep Saving? by Happyguy201: 11:47pm On May 01, 2020 |
domiciliary account is the best when naira falls you will be richer than dangote. |
Re: Do I Build A Small House Now Or Keep Saving? by yemkoguru(m): 11:47pm On May 01, 2020 |
covid2019:I'm beginning to feel jealous |
Re: Do I Build A Small House Now Or Keep Saving? by ChukaOkolo(m): 11:50pm On May 01, 2020 |
covid2019: |
Re: Do I Build A Small House Now Or Keep Saving? by deleson: 11:51pm On May 01, 2020 |
Young man, the pieces of information you provided aren’t absolutely helpful in understanding the giving far-reaching financial advise. Clarity on the following might help; 1. What business are you into? 2. How long did it take you to raise your net profit? 3. What is your motivation for building a house; being called a landlord, collecting rental or what? 4. What is the cost of a land and erecting a structure? The wise counts/knows the cost before embarking on any project. 5. Can you expand your business to make more money? 6. How structured and sustainable is your businsss? 7. How diversified is your investment? And a whole lot more! covid2019: |
Re: Do I Build A Small House Now Or Keep Saving? by Nobody: 11:52pm On May 01, 2020 |
Bro build a house of 5m place it on rent Use the remaining money to travel out ![]() 1 Like |
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