Anybody, no matter the stipends he receives as the take home pay, can actually build his own house. It takes just determination, knowledge and persistence. A lot of people today have increasingly come to find out that you don’t need your entire life savings just to get a home. Rather what you need is adequate planning and ability to know the difference between wishful thinking, reality and actually taking action. There are always a category of houses for every class of persons in the society.
First of all, you need to calculate the amount of your salary for 2 years and find 30% of the sum. Whatever you get, just meet your building professional and ask him what kind of building the 30% can cover for its foundation only. If you get that, then know it that you can easily build your house with that terribly miserably low salary you take home every month.
Assuming your salary is N10,000; for 2 years your total salary will be N240,000; and 30% of this will give N72,000. This can conveniently cover a 2 bedroom flat strip foundation.
But you think you can’t possibly save 30% of your income, because your salary is already too low. Let me tell you, from studies carried out, it had been known that no matter how extremely small a person received or how poor he is, 30% or even more of his money goes into what he can’t account for monthly. He just needed to sit down and take stock for a month, and he will see that he had been spending 30% and above on very unimportant things in his life.
Yes, I know cost of land is high, but that is because you don’t want to live the crowded and so called urban area for the outskirt.
You can also save for land if you put your mind on it. But if you already have one, then your dream of getting your own house will be faster than expected.
Within 10 years of determination, you will complete your project.
... Source
ADVANTAGES
ReplyDeletei. There are no debts to pay no matter the turn of things.
ii. You have rest of mind, since there are no creditors coming to knock on your door.
iii. It is healthy at the long run. When your mind is free of fear, you are most likely to live a healthier life and avoid hypertension.
iv. It gives you room to channel your earnings towards something valuable and gives you more responsibility.
DISADVANTAGES
i. It may take a long time to achieve your dream
ii. It bites on your income and may moderate your style of living
iii. Staying for too long might make somebody to loose interest altogether and abandon the project.
iv. There is always fear of families of (Omo Onile) Landowners rising up to lay dubious claim on your land especially when the seller is dead, because of long time of building.
v. There is always probability that the savings might be converted for other uses.
vi. Inflation on cost of materials and labour may also be seriously catching in.