Free Affordable Housing Tips. Cheap Property.
People seeking to buy a house usually want to buy a beautiful house for as low a price as possible. In simple words, most buyers look for cheap housing.
Some of these potential property buyers will tell you they are not necessarily looking for cheap property. They will tell you they want to buy affordable housing or low-cost housing.
Whether you call it affordable housing or cheap property, I understand what you mean. Potential real estate buyers simply want to buy as low as possible. And when they want to sell, they want to sell as high as possible.
Come to think of it. It's not only property buyers or home buyers who want cheap housing or affordable housing.
A good number of people who are interested in renting apartments in Lagos Nigeria also want cheap apartments.
Is there anything wrong with wanting to rent a cheap apartment or cheap housing? Is there anything wrong with desiring to buy Nigeria real estate cheap?
The answer to that question is NO.
The reason is obvious.
Different people have different levels of income. And hence, the different classes of people with different income levels can afford apartments for rent within their income bracket. And when low-income earners decide to buy a property, they also have to look for affordable housing . . . cheap property for sale that falls within their income bracket.
For example, some people who work as teachers in schools get paid 10,000 Naira per month. And many of these people are married . . . they have a spouse and kids to cater for.
Here's the truth.
A lot of these teachers are barely able to make ends meet. They have to pay for feeding, school fees for their kids, transportation to and from the school they teach, and then have to pay the landlord for the space they occupy.
Often, there is little or nothing left to save for the future.
This is not a problem peculiar to teachers. It's a problem faced by the millions of low-income earners in Nigeria who struggle to make a living irrespective of profession or employer.
Now compare this poorly paid teacher to his friend who works in an office setting in a private multinational company. This friend of the teacher earns 200,000 Naira per month. In addition, he gets free medical care for his wife and four kids plus a fat housing allowance that is not part of the 200,000 Naira he is paid per month.
Think about it.
What category of apartment will be considered cheap housing or affordable housing by the teacher?
In the same vein, what category of apartment or property will be considered cheap property or affordable housing for the friend who works in a multinational company?
Obviously, what is considered cheap property or affordable accommodation is dependent on the income level of the person who is making the statement.
However, for the purpose of this discussion, cheap property is property that is below 100,000 Naira per annum for apartments for rent and 4 million Naira for buildings for sale.
Here's my advice to you.
Don't be shy or ashamed to acknowledge your income level. If your income level is low, then don't attempt to buy property that is far above what you can afford.
Why?
The simple reason is that you may never buy the property. You will save and save and save. And yet, you may never have enough to complete the amount required to make the purchase of that dream property of yours.
On the other hand, if you go for properties that fall within your income bracket or slightly above it, you can buy a property sooner than later. And after your first successful purchase, you will have the confidence to do it again and again. Before you realize it, you're a big time home owner in Lagos Nigeria.
The secret?
Live within your income. Actually, live some 'miles' below your income. And buy affordable housing or rent cheap housing, if you must.
Your humility and patience will pay off eventually.
People seeking to buy a house usually want to buy a beautiful house for as low a price as possible. In simple words, most buyers look for cheap housing.
Some of these potential property buyers will tell you they are not necessarily looking for cheap property. They will tell you they want to buy affordable housing or low-cost housing.
Whether you call it affordable housing or cheap property, I understand what you mean. Potential real estate buyers simply want to buy as low as possible. And when they want to sell, they want to sell as high as possible.
Come to think of it. It's not only property buyers or home buyers who want cheap housing or affordable housing.
A good number of people who are interested in renting apartments in Lagos Nigeria also want cheap apartments.
Is there anything wrong with wanting to rent a cheap apartment or cheap housing? Is there anything wrong with desiring to buy Nigeria real estate cheap?
The answer to that question is NO.
The reason is obvious.
Different people have different levels of income. And hence, the different classes of people with different income levels can afford apartments for rent within their income bracket. And when low-income earners decide to buy a property, they also have to look for affordable housing . . . cheap property for sale that falls within their income bracket.
For example, some people who work as teachers in schools get paid 10,000 Naira per month. And many of these people are married . . . they have a spouse and kids to cater for.
Here's the truth.
A lot of these teachers are barely able to make ends meet. They have to pay for feeding, school fees for their kids, transportation to and from the school they teach, and then have to pay the landlord for the space they occupy.
Often, there is little or nothing left to save for the future.
This is not a problem peculiar to teachers. It's a problem faced by the millions of low-income earners in Nigeria who struggle to make a living irrespective of profession or employer.
Now compare this poorly paid teacher to his friend who works in an office setting in a private multinational company. This friend of the teacher earns 200,000 Naira per month. In addition, he gets free medical care for his wife and four kids plus a fat housing allowance that is not part of the 200,000 Naira he is paid per month.
Think about it.
What category of apartment will be considered cheap housing or affordable housing by the teacher?
In the same vein, what category of apartment or property will be considered cheap property or affordable housing for the friend who works in a multinational company?
Obviously, what is considered cheap property or affordable accommodation is dependent on the income level of the person who is making the statement.
However, for the purpose of this discussion, cheap property is property that is below 100,000 Naira per annum for apartments for rent and 4 million Naira for buildings for sale.
Here's my advice to you.
Don't be shy or ashamed to acknowledge your income level. If your income level is low, then don't attempt to buy property that is far above what you can afford.
Why?
The simple reason is that you may never buy the property. You will save and save and save. And yet, you may never have enough to complete the amount required to make the purchase of that dream property of yours.
On the other hand, if you go for properties that fall within your income bracket or slightly above it, you can buy a property sooner than later. And after your first successful purchase, you will have the confidence to do it again and again. Before you realize it, you're a big time home owner in Lagos Nigeria.
The secret?
Live within your income. Actually, live some 'miles' below your income. And buy affordable housing or rent cheap housing, if you must.
Your humility and patience will pay off eventually.
