Housing is one of the basic needs of every human, there are multiple reasons, you should consider building your own house, instead of renting. Although to build a house might seem expensive and demanding, however, in the long run, the benefits and gains of building a house, far outweigh the costs in time and money.

When you should consider building your own house

Becoming a house owner has been one of humanity’s cultural heritage, through the different ages and times, men have sought to leave their father’s or family’s house, to build their own home. Diversity in our different backgrounds and cultures, have influenced the point when a man is deemed fit to have his own house.

So when is perfect? plainly when you have the finance to build, sometimes though, you might never build a house if you continue waiting till when you have the full cash. If you have a family, a wife and children, or you are preparing to start yours, you already need to start planning to build your own house.

Build your house in less than 6 months with
a repayment plan lasting up to 36 months

What type of house you should build

As humanity evolved over the years, so has the designs and structures of the houses we live in. Your home should be built to satisfy the need of your family, their size, and lifestyle. However, the requirements of the house you want to build must align with your financial capacity, always ensure you build what you can afford.

You should build a modest home if you’re a low-middle income earner, if you’re a high earner, a mansion might seem suitable. Some of the features you should consider in your house are:

  • Enough space for a playground for kids if you have little children.
  • Always have parking space, enough for 2 extra cars, plus yours.
  • Provide space for a storeroom, it can always serve multiple purposes.
  • Provide enough luxury based on your financial capacity, it’s your home you should live in comfort.
  • Have some plans for upgrade, make your building plan and structure flexible.

Steps to take before building your own house

There are some actions you should take before building your house, some of these steps are:

  1. Selecting the right location: this is very important, where you build your home determines if it’s the perfect home or not. Regardless of if you build a duplex or mansion, if it’s not accessible, far from town or far from where you work, it’s not the perfect home for you nor your family. See how to pick the perfect location for your new home
  2. Drawing a structural and architectural design: Turn those ideas in your head into a drawing, get a building design of what you want to build. A building design ensures the entire building has a guideline, with proper measurement and markings, moreover, this design is also required for construction permit in some states.
  3. Use quality materials: Your house is as strong as the materials used to build. Don’t substitute quality for quantity, preferably,  hire a project team or at least a project manager.
  4. Time management: Don’t rush things, manage your time and resources by combining related construction stages. Save your time and avoid stress, learn how you can realize your dream home easily, according to your income.
  5. Bill of Quantity: Have an estimate of the entire cost of construction, do a professional quantity survey of what you want to build. When you have a cost estimate, added with some set percentage for miscellaneous, you can always budget your spending appropriately.
Start building your home with deposit of N300k – N1m, that’s almost the price of a plot of land

Hurdles of building your own house

Building your house has a lot of benefits, at the same time it comes with some hurdles. Regardless of your financial capacity, building a house is demanding, and depending on the type, it can be finance intensive too. Some of the problems you are likely to face when building your house are:

  1. Lack of suitable location: this is when all the offers of land or landed properties are situated in an unsuitable location for you.
  2. Documentation: getting the proper documents e.g. building permit, registered survey, deed of assignment/transfer, C of O etc, can be both time-wasting and frustrating.
  3. Lack of funds: unpredictable changes in the price of materials can get you stuck, and you end up running out of funds.
  4. Legal issues: When you buy a disputed land or property, renovating and building might be prolonged pending resolution from the court.

So, it’s time to decide

We’ve outlined the steps, usual hurdles and benefits of building your house, it’s now up to you to decide how/when you want to take the step. As always, we can assist you to realize your dream and avail your fears by subscribing to our housing scheme, see how it works below.