Consultantceo

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If you save ₦2 million every month to buy a house of ₦120 million, it will take you 60 months (5 years) of consistency to raise the money.

By the time you are ready to pay with your ₦120 million, the value of the property of equal standard would have gone up to AT LEAST ₦150 million.

Sadly, this is what most people are doing.

They have a long-term savings plan for a project in ways that only depreciate their hard-earned money.

If a well-trained realtor tells them to buy a genuine land (inside bush but in an emerging location) for ₦2 million, they will say that they prefer saving ₦200K monthly so that they can get one inside the city.

Guess how much the property is?

₦50 million for a half plot of land.

By the time they save ₦200K monthly to get up to ₦50 million, the value of the property they were eyeing would have increased to ₦70 million.

Before they save up to ₦70 million again, the price has gone up to ₦100 million.

If they can’t wait any longer, frustration sets in and they are forced to throw their business capital into purchasing an empty plot of land.

Is this a wise decision?

Let's consider a financially savvy person who invest in real estate without tampering with their business capital. Just to reiterate, never use your business capital to buy land except you are a developer. Your business capital is sacred.

Instead of saving ₦2 million every month for 60 months, use that your ₦2 million to buy at least one genuine land in an emerging location every month for 5 years (60 months). There’s one like that in Kuje Abuja. I know the price will change over time and so will your income to match up to it.

In 5 years, you would have acquired 60 plots of land in different locations (cities) and from different reliable real estate companies.

Since real estate is not a fast-liquidating asset, you can give yourself 365 days of consistent marketing to sell off 55 plots of the land and reserve 5 for yourself.
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