Building your dream home in Nigeria is an exciting but financially demanding journey. With the constant volatility in the market—driven by foreign exchange rates, inflation, and logistics—accurate budgeting is the single most crucial step to prevent project stalls and cost overruns. This guide provides a comprehensive breakdown of the three core cost components—Materials, Labour, and Soft Costs—with realistic price ranges for the 2024/2025 construction period. 1. The Golden Metric: Cost Per Square Meter (CPM) Before diving into unit prices, start with a quick, high-level estimate using the Cost Per Square Meter (CPM) . This helps you determine if your project size aligns with your budget. Project Finish/Quality Estimated CPM Range (₦/sqm) Total Project Cost (Example: 200 sqm house) Basic Finish (Standard materials, simple design) ₦180,000 – ₦250,000 ₦36 Million – ₦50 Million Good/Average Finish (Quality materials, modern design) ₦250,000 – ₦350,000 ₦50 Million – ₦70 Million High-End/...
Practical, Nigeria-first guidance on housing, real estate, and construction — helping everyday Nigerians and small investors make smarter decisions, avoid scams, and build better homes.