How to build your House from a #10,000 salary
Anybody no matter the stipends he receives as the take home pay can actually build a home. It takes just determination, knowledge and persistence. A lot of people today have increasingly come to find out that you don’t need your entire life savings just to get a home. Rather what you need is adequate planning and ability to know the difference between wishful thinking, reality and actually taking action.
There are always a category of houses for every class in the society. To get a home from your salary you need two things.
Calculate the amount of your salary for 2 years. Find 30% of the sum, whatever you get, meet your building professional and ask him or her what kind of building the 30% can cover for its foundation only. You have a winner, if you get that, then know you can easily build your house with that terribly miserably low salary you take home every month.
Assuming your salary is N10,000 for 2 years your total salary will be N240,000, 30% of this will give N72,000. This can conveniently cover a 2 bedroom flat strip foundation.
But you think you can’t possibly save 30% of your income, because your salary is already too low, but let me tell you, from study carried out, no matter how extremely small you received or how poor you are, 30% of your money goes into what you can’t account for monthly. Just sit down and take stock for a month and you will see that you’ve been spending 30% and above for very unimportant things in your life.
Yes, I know cost of land is high, but that is because you don’t want to live the crowded and so called urban area for the outskirt.
You can also save for land if you put your mind on it, but if you already have one, then your dream of getting your own house will be faster than expected.
Within 10 years of determination you will complete your project.
October 20th, 2007 at 10:59 pm
Very good point and I total aggreed with you.
June 22nd, 2010 at 3:33 pm
i sincerely agree with you but if and only if no serious responsibily to take care of, like schooling to get more degrees, helping siblings and some external affairs either in church or in the world. May the Lord give every one money to build his/her house.
June 29th, 2010 at 3:01 pm
article very inspiring, motivating and captivating. It will be good if everyone can key into it and act now.
August 4th, 2010 at 9:17 am
That was quite a good one Arc. Please keep it up.
August 31st, 2010 at 2:43 pm
realy nice idea,but wasnt conclusive.tot u ll take it stage by stage to completion of the building.
September 12th, 2010 at 7:43 pm
i agree but just want to add that becos of inflation rate it might be better for the person keeping 30% of his money to put it in some form of investment or business that can produce good return so that instead of 240k as expected for 2yrs you will get 360k or more.
September 13th, 2010 at 2:08 pm
I totally subscribe ti this idea. however, i wouldn’t mind part II which will show me the other steps to complete the homen in stages.
November 11th, 2010 at 7:58 pm
Quite inspiring&chalenging but not impossible.You’ve rekindled my hope and like you rightly pointed out,those places u call outskirt of a town becomes habitable town in less than six yrs,i wish 2 note dt it all depends on individual’s determinations training siblings, church affairs,addtnal college degrees etc remain only traps. I wish ‘m in lagos or u a in Kano, where i intend 2 have my future home.I’m gratefull 2 u, kindly help us beyond foundation laying stages or does the 30% continually support the project 2 the end? Noble services to humanity!
Cheers.
December 5th, 2010 at 10:56 pm
THE 30% KEEP SAVING AND INVESTING IT. THANKS
January 27th, 2011 at 9:24 pm
You are an asset to the environmental study profession.
March 8th, 2011 at 7:14 am
Please tell them again o. The generation is so full of excuses that they blame somebody for something that happens to them in life. Where is the busy??? There is no bush anywhere but we only have people that are so comfortable being “glorified tenants” than being “dignified LANDLORDS”. Ikorodu of =N=150k of yesterday has become over =N=1M of today and it is still going up. A word is enough for the wise!
July 1st, 2011 at 5:36 am
Good analysis.I want to say am the living example of this.I think for all us, what we need is determination. with my experience if you dont have an abode of yourself before your kids gets to tertiary institution,it will take the grace of God before that can be possible.
SALARY EARNERS BE WISE.
July 1st, 2011 at 3:34 pm
Good day everyone,
I must add to the earlier comment that the future lies in our hands and homes remain one of the key tin everyone must strive to achieve.
i am thinking of where we’ll lay our heads tomorrow, i’ll appreciate advice on land buying.
Thank you
July 15th, 2011 at 6:30 pm
so inspiring and motivating.thanks. I plan having my own house too. I’l work over it. Thanks alot. Pls I need a professional with low charges coz my take home pay is just 20k monthly
July 16th, 2011 at 6:51 am
Yes is still possible just be discipline and work on it. I will like to help you.
July 16th, 2011 at 6:53 am
Yes the 30% will take the building all the way. Though you know you must cut your coat according to your size.
Thanks
July 16th, 2011 at 6:54 am
Is the same process you’ll take to the end.