Before embarking on any project in life, try to have a working plan with a pictorial vision of the end result of your hard work including the benefits.
Work Plan For Building a 2-Bedroom Flat
Plan of action (POA) or work plan sets the pace for the vision which you have to be actualized. So, this morning, I was actually doing some search and calculations to know how much it would cost to build a 2-bedroom bungalow in Nigeria. This type of property (bulding of 2- bedroom flat only, excluding soakaway and fence) can be set up with 2,200 blocks. It was also interesting to find out from a building contractor's blog post that with about 3 million, 30 thousand naira (2017 estimate), one can build a 2-bedroom apartment. The author of another blog post I read reports an increase in the cost of building materials. So, factoring in inflation, I would like to estimate that in 2018, $12,000 (€10,000/4,000 Steem/4,000 SBDs) would be needed to build a 2-bedroom flat in Nigeria in a location where cost of living is moderate.
The work plan is simple to remember; save 4 steem/day for 1000 days. In a year of 365 days, one would have saved 1460 steem. Pay attention to the calculation below
4 Steem * 1000 days (~33 months/~3yrs) = 4,000 Steem (~$12,000/~4.3 million Nigeria Naira ). Three years plus an extra year (in the event that reality sets in and things do not work out exactly as planned).
Modern Bungalow House Design
Some Benefits of Owning A Own House
The happiness that you own the house you live in can only be better experienced than explaied. From property owners, I have heard them highlight the following benefits
- Freedom from having to pay monthly, quarterly or yearly rent.
- House owners can chose to rent their properties to tenants.
- Freedom to modify the house to suit present and future needs. I know a woman who expanded her house from 2 to 3-bedroom flat, very recently.
- Use the house as collateral to get bank loan.
- Peace of mind that comes from the satisfaction of owning and better still living in your own house.
Disclaimer
I am not a quantity surveyor, neither am I a builder. The information shared here is based on what I read from blogs of professionals. This has helped me come to some kind of conclusion about the average cost of building a 2-bedroom flat in Nigeria. Hopefully, this blog would be of value to you, your friends and family.
This post was made for me alone. This is what I mean, I opened steemit and the first post I saw was this one, guess what, I am right now in the banking hall to pay for my house rent.
After reading, I became pained that I have to pay this much #300k for just a one bedroom flat. I have been able to acquire a half plot of land but could not do anything on it because of cost of building in Nigeria.
Saving 4steem/day is what I don't know how I can achieve it. Meanwhile, this piece has opened my eyes to start with something no matter what. Thank you.
Oh my goodness! Paying N300,000/year for a one-bedroom flat is not cheap. So I very well understand your pain, @sunny4glow. How to earn 4 steem/day for 4 years has to be in several ways, not just blogging. Meanwhile, your plan could be for a longer period, let's say 8 years, so that it does not put so much pressure on you. There is an opprtunity for investment I found recently, which looks good. I will look for the link and share. Do you know that you can start trading cryptos & that includes steem? I trade from time to time & make some cool profits from it. That is one way to earn what you can invest in real estate.
OK then, please help with the link. Thanks
I would love to get the link too ma'am
Don't worry you have just inherited $1000000 from your dead uncle Clifton in Canada. You just have to send me the 10Steem fee to facilitate the paperwork.
JUST KIDDING LOL.
Just a naughty joke lol😎
I believe this is a workable plan, but carrying it out would be a very big huddle for us minnows, whose average earnings per post are $0.05
This would make us to start writing approximately 80 posts a day, $4/0.05= 80
I will have to be on steemit every minute in order to write well.
Its a workable plan though... With help it can work out.
Thanks for your contribution, @iamchijamz. However, I doubt if your steem bandwidth would allow you to post 80 times/day. What I think is the smart thing to do is to find other ways on and off the steem blockchain to earn 4 steem/day. Please, read my response to @sunny4glow's comment on the thread. Cheers.
Yea, did that now, thanks ma'am. Nice idea
@iamchijamz even wrting 80 posts a day will not guarantee you 4 steems a day, but creative investing in steemit will in the long run: https://steemit.com/steemit/@successforall/minnows-helping-minnows-how-to-grow-your-steemit-account-fast
Sounds like you're chasing the dream. Good luck with it!!!
You should try to refrain from a bank loan. At least in the US the banks are very eager to give you one, but they lose their smile very quickly if you don't do what they want.
Banks are same everywhere, they can do all sorts of things to lure you into their loans at the first instance, but when they get hold of you... Mehnn, you are finished. In Nigeria we run away from bank loan.
Of course, I am chasing the dream, @lisaliebeslust :) Believe it or not! When I was writing the post before publishing, I had added that I do not advise anyone to use his house as a collateral just to get a bank loan. Those guys are certainly not flexible and don't romance defaulters. So, I agree with your point of view. Thanks for stopping by. Keep steemin'.
Nothing beats real estate. If one can acquire one that would be awesome.
Absolutely true, @greenrun! Once one can struggle to acquire the first property after which it becomes easier to buy a second, third etc. I think we can all begin by acquiring some plots of land that cost less than N500,000.
I noticed you, I, and another commenter here got flagged by a flagged spammer. Lol
Laugh out loud, bro. The fellow is a real joker. I flagged him from spamming only for him to flag me back with his 100% negatively weighted vote that means nothing. He should have given the 6 cents to one who needs it. Thanks for the observation👍.
I just found it funny :)
This is really a great, insightful and thoughtful post. A friend of mine recently finished his own house and moved in with his family. He used this kind of method, although off blockchain. Having a plan like this will definitely help propel a successful completion of a good house in 1-3 years.
I like this post. It's one of a kind. Nice vision. I've got that plan for a while now, even while still in skool, though a fresh graduate still awaiting NYSC . But the question I want to ask is this, Does this cost include the Price for purchasing the land where this building will be? How many plots? And what state/area are you talking about? because land cost varies with the State. @maryfavour
good luck