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Cost of Constructing a Simple 3 Bedroom Bungalow Have you been around people discussing building a house? The amount of money they mention can be scary sometimes. You hear that they constructed a simple three-bedroom flat in the village with ₦10 million. Some say you need ₦25 million to build a 3-bedroom house with moderate finishing. And these amounts do not include the cost of acquiring land or furnishing. Then, you begin to wonder: if it costs ₦25 million to construct a modest three-bedroom bungalow in the village, how much will it cost to build the same in a city like Lagos? But I know some bike riders, mechanics, carpenters and traders in Lagos who presently live in their houses. How did they do it? Did they spend up to ₦10 million on construction?… Of course, you can spend ₦25 million or even ₦1 billion to construct a three-bedroom bungalow if you want. But it is also very possible to spend less. Yes, as little/much as ₦5.5 million! And this article will show you how. Follow a

Tips for Reducing Construction Cost To average-income earners in Nigeria, the prospect of owning a home may seem like a pipe dream. It is generally believed that one has to be very wealthy to own a home. The escalating cost of land and building materials have further convinced many that the average Nigerian worker cannot afford a home. But experience has shown that with proper planning, due diligence, and discipline an average-income earner can own a home in Nigeria. I will share some great tips to reduce the cost of building a home in Nigeria. In this article, we will look at ways to cut down on the cost of constructing a house. Some factors that contribute to the cost of building a house include the cost of acquiring a land, the house design, and the cost of building materials as well as labour. We will consider: How to get a good land at a cheap price.  How to reduce building cost with a good house design and floor plan.  How to reduce cost of roofing a house. How t

The cost of building a house in Nigeria has consistently increased over the years due to a combination of the rising cost of acquiring a land, the escalating cost of conventional wall building materials (particularly the imported ones), labour, etc. But one of the major factors militating against the availability of low-cost housing in Nigeria and other developing countries is the cost of conventional building materials which like the cost of acquiring the land, has a direct effect on the cost of construction. Successive governments in Nigeria have paid lip-service to the provision of low cost and affordable housing for the Nigerian masses. For example, the Association of Housing Corporations of Nigeria (AHCN) once championed the use of locally-sourced wall building materials when it collaborated with the Akwa-Ibom state government to build an estate in Uyo using locally sourced materials. But this initiative was abandoned for no just cause. A similar effort by the Nigerian Bui

A piece of land is a great asset, and you can make a fortune from owning one. Many people start their real estate investment career by buying land. There are various ways to make money from your land without having to worry about developing it.   Photo by  Ashim D’Silva  on  Unsplash If you own a piece of land and are looking for ways to make money from it, then you are in the right place. You can be making money off your undeveloped land while saving up to develop it or waiting for its value to appreciate so that you can resell it. Follow as we explore some ideas for making money from land. Divide And Sell Your Land It is one of the common types of real estate business that people engage in, and that might be because it is pretty straightforward. There is this notion that land will always appreciate, and it is correct. Once you own a large piece of land, you can sell a fraction of it for more than the price you bought the whole land. For example, you can buy 10 hectares of land for

New to the real estate investment world and wondering  how to start investing in real estate?  First of all, your decision to  invest in real estate  is the right one. Real estate business is very lucrative and stable.  Anyone one can invest in real estate.  You do not need a degree in real estate investing to get started and succeed, neither do you need to be an expert sales person to become a real estate investor. Understanding the fundamentals, economics, and risks of real estate investing is enough to get you started.   T his guide will provide an overview of real investing, the basics of real estate investing, and common mistakes to avoid. Real Estate Investing for Beginners Real estate investing can be as simple as acquiring a property and renting it out to create a steady cash inflow. But there are other types of real estate investments that might be a bit complex. Examples include residential real estate, commercial real estate, industrial real estate, and real es

Real estate (also Realty) is property consisting of land, the buildings on it, its natural resources, as well as air rights. The term "real estate" also refers to the business of real estate and the profession of buying, selling, or renting land, buildings or housing.  The real estate industry is very large and lucrative, covering areas like buying and selling or leasing real estate, managing residential, commercial, and industrial properties, as well as the provision of other real estate related services. The importance of the real estate industry to the economy of a nation cannot be overlooked. It provides shelter while also creating jobs, eradicating poverty, ensuring social security and promoting sustainable economic development.  There are three broad categories of real estate namely, Residential Real Estate:  These are properties used for residential purposes. Examples include undeveloped lands, flats, multi-story detached buildings, and terrace houses. Commerc