Become a Land/House owner with Your little Income

“Holy Ghost shower us with anointing,” is a popular song Christians sing at crusade and vigils. At such moments of ecstasies, they are transported from reality to the spiritual world of tongue-twisting prayers, rolling on the floor and raining curses on Satan.

Today, you will receive your own anointing. But instead of rolling on the floor, this special blessing will open the doors of your own houses with a special key of knowledge.

Before you shout amen, make a commitment today that you will start your own building project now. As Dr. Nelson Mandela reportedly put it, “A man is not a man until he has a house of his own.”

If you think it’s too difficult and expensive to build a house in Nigeria, the story of Mr. Peter Aina who did it in 2004 with a salary of N25, 000 per month and a growing family should wake you from your slumber.

In Aina’s testimony published in Prime Assets magazine, he says the very first thing he did was to look at the difference in his salary from what he used to earn. ‘I didn’t see the reason to increase my spending, so I decided there and then to move it into savings so as to establish my dream…Saving a lump portion of my N25, 000 a month income, it took six months to save for the land. By May 2002, I had paid for the land,’ Aina reveals.

He says he commenced construction in December 2002; monitored the work every day; and put in every kobo he made to the site. He then moved in April 2004.

Real estate is capital intensive. But if you are prudent and focused, you will make it. At present, there is an opportunity for you to own a land at Guan near Ibafo in Obafemi Owode Local Government  Area of Ogun State. The place is close to Lagos. As at December last year, Wisdom Property Limited, Lagos was giving out a plot of land there at N180, 000. Now, it is N280, 000.

The building thing in this case is that you don’t have to pay at once. You can spread your payment for one year.

The problem with most people is that they want to build their own houses at highbrow areas. But in real estate, experts say, there is no “bush”. These so-called developed areas were “bushes” some years ago.  Even, there is no law that says that your first house will be your last.

Besides, all the money you need do not have to come from your pocket. One major key to financing your building project is the housing loan scheme established by the National Housing Fund in 1992. Employers and employees are expected to make monthly contributions. The contributions are collected, managed and administered by the Federal Mortgage Bank of Nigeria.

Applications for loan are made through Primary Mortgage institutions accredited for that purpose. A contributor can borrow a maximum of Nmillion. This has a repayment period of up to 35 years, depending on how many years you have to clock 50 years. The interest on the loan is six per cent.

To qualify for the loan you need approved building plans, priced bill of quantities in case of construction/renovation, valuation report prepared by a firm of registered surveyors and valuers where applicable. And obtain NHF application form on normally apply from a PMI of choice.

Another way of building your own house easily is to join a good cooperative society. The society can secure an expanse of land for members, coordinate the perimeter fencing of the land and assist in getting all relevant papers and approvals for good title etc.

You can also join a thrift society. Join as many as you can. But be selective of the kind of people you deal with.

You can also open a project account (current or savings). Drop between N5 and N1, 000 into a piggy bank per day. Issue a direct debt instruction to your salary from your regular account to your project account monthly. Any bonus, profit, and upfront allowances you get should be ploughed into the project account.

You can again generate good money for your building project by trading in stocks, in property market speculation and multi-level marketing. Multi-level marketing is the trend now. We are in the era of e-business. The era of staying in a shop and selling a particular item is fast going. The product you market depends on your nature. There is Tianshi. There is Forever Living Products. There are other online businesses you can do. You can also use other talents of yours to make money for yourself.

As you plan towards your housing project, you need to sell your idea to your wife if you are married. Otherwise, she can ruin your dream if she is not in full support. Married men know better.

It is better and wiser to postpone your enjoyment till later for a noble cause. “Squatting is a pit, jump over it. Renting is a passage, fly over it. Owning is the destination. Arrive soon early enough and have rest for your soul.”