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.
