Thanks all.

If you are sure the land has good title, go ahead and buy it. Look at it this way: Except you invest that money in a business with steady returns, it is gradually losing its value. Perhaps the reasonable way of saving money over a long period nowadays, is to do so in foreign currency. I mean, see how the naira is depreciating every day!

Land, on the other hand, appreciates in value as time goes by. It is limited in supply, and so its value always rise.

Buy a land

do well to buy land @ first, but make sure the buying has a legal back up to avoid fraud I.e get a lawyer to draft u a legal document bcoz it's an investment 4 the future.

Go for the land.! Depends on the area, you can get x2-3 if you decide to resell in the near future.
..
.
.
Make sure the land is free from dispute(s) o.

Sijo01:
Go for the land.! Depends on the area, you can get x2-3 if you decide to resell in the near future.
..
.
.
Make sure the land is free from dispute(s) o.

100% agree

I will also add that you should involve your parents or a trusted elder already in land business.

Goodluck

Kweke!

I want to categorically tell you right now that that your friend is your enemy oh!

It's a no brainer, BUY THE LAND! As long as it is an authentic land buy it! You even have the money to fence it round kindly do so immediately, that way you are assured the land is yours and if there is any local quanta it will come up when the land is being fenced but by God's grace nothing like that will happen!

How long is your course? Kpatakpata 6yrs if you are studying medicine. Do you know how much that land will appreciate by in SIX years? Bros na wa for you o!

I didn't want to add this b4 but lemme give u a personal experience. My friend bought a piece of land in warri for 500k some years ago before entering University. He is out now. Do you know how much that land is worth now? N4m minimum! What kind of bank will give you that kind of interest on your savings. Guy, no dull o.




















Meanwhile, so am a matured nairalander?
Dancing "shoki" childishly

My dear go for the land!!!
Make sure its free of 'poachers'
#bewareoffrenemies

My dear why do you think people or siblings kill themselves over land inheritance. It's because they know the value of land. Land is an asset that appreciates over time so my advice is to buy the land and by the time you get a job start saving money from part of your income every month and be investing it in building a house. Small small kurukere before you say jack Robinson you too you're already a home owner but warning



BEWARE OF 419, GBAJUE, THIEF, OLE THAT WILL WANT TO SWEET TALK you into buying fake building materials. Shine your eyes. Nigerians are not nice. If they can swindle Oprah Winfrey they can dupe you before you dash a con artist your life savings


Also make sure you take care of omo onile matters. Go through the right channel. Get all the necessary documents for the land before one hooligan starts claiming the land you bought is his father's property


from sambarry



lets hear what the next person has to say

esscence00:
Afternoon House, This has been a thought that has borne out of my quest of making qualitative financial decisions. Am an undergraduate in my early 20, penultimate year(my cgpa is a "very strong" 2:1). I have been thinking of this idea right from my 100level days.
I have always been a prudent saver who does not just dole out money on just anything. the idea of buying a land and fencing it with some of my allowance and profits from a small business has been very appealing to me lately. as the land can be resold or it could be my launching pad of starting and entrepreneural venture.
My dilemma is this,The land could be bought and fenced and I would still have some money to adequately cater for (small) emergencies. while seeking the advise of a friend , he discouraged me by saying I should be patient and continue saving it. which does not seem appealing as the land is sure to have a hogher resale value in a few years time. Continual saving without any project(even though little) seems depressing to me. Should I follow his advise or I should proceed. House help!
CC: Lalasticlala
TearRoses
Jarus
Royalroy
Greatgod2012
Cococandy
Efemenaxy
Tbaba
Sagamite
Bukatyne
Freecoca
Sambarry
5minsmadness
and other matured and experienced adults in the house.

You did not give an indication of the size of funds you have saved up.

Despite this I would give you my opinion anyway.

Continuing saving does not appear to be the best financial strategy right. The economy is unstable and the currency is depreciating like a fcker. My funds in Nigeria has depreciated by more than 40% since GEJ (the Cretin of Otuoke) fcked up the economy. This does not take in the inflation factor yet, just the currency devaluation. Also considering interests on your savings is not great in Nigeria, except you have a means of saving money in $ or £s in Nigeria, your savings would lose value.

So your financial strategy is to (a) look to acquire an asset that will retain or appreciate in value OR (b) to by an asset that would provide you with sufficient utility.

Utility can be financial or emotional (i.e. "money" or "feeling good" ). I mean you can by an asset that can make you money when you use it (e.g a sewing machine, a postgrad degree) or you can spend the money on something you enjoy (e.g. beer, movies, holiday or babes).

You seem to think buying a land would give you (a) and that is the financial strategy you are more inclined towards.

What I would say is that, except you understand how to tactically by a land and how to negotiate a good deal, you might make a mistake there.

First of all, when you buy a land, factor in that there will be a lot of fees you might not be aware of yet.

Agent fees, surveyor fees, registration fees etc. That can amount to up to 20% the value of the land in Nigeria. we are not going to talk about Omo Onile palava if you buy from the wrong source. It is a crazy place. Just note: If you buy in Sagamu, na me own am.

Now if you know nothing about land, you might be susceptible to paying more than the land is worth.

Secondly, if you have no understanding of the infrastructural developments of the state you plan to buy a land in, then you are buying blind. It could work in or against your favour.

whirlwind7:
If you are sure the land has good title, go ahead and buy it. Look at it this way: Except you invest that money in a business with steady returns, it is gradually losing its value. Perhaps the reasonable way of saving money over a long period nowadays, is to do so in foreign currency. I mean, see how the naira is depreciating every day!

Land, on the other hand, appreciates in value as time goes by. It is limited in supply, and so its value always rise.

Very good points finished off with a weak point at the end.

whirlwind7:
If you are sure the land has good title, go ahead and buy it. Look at it this way: Except you invest that money in a business with steady returns, it is gradually losing its value. Perhaps the reasonable way of saving money over a long period nowadays, is to do so in foreign currency. I mean, see how the naira is depreciating every day!

Land, on the other hand, appreciates in value as time goes by. It is limited in supply, and so its value always rise.

thank you sir.

Cutehector:
Buy a land

thanks sir.

defemidefemi:
do well to buy land @ first, but make sure the buying has a legal back up to avoid fraud I.e get a lawyer to draft u a legal document bcoz it's an investment 4 the future.

thanks. have researched on it, and its genuine.

Sijo01:
Go for the land.! Depends on the area, you can get x2-3 if you decide to resell in the near future.
..
.
.
Make sure the land is free from dispute(s) o.

thanks ma. totally free from dispute.

bukatyne:


100% agree

I will also add that you should involve your parents or a trusted elder already in land business.

Goodluck

thanks ma. appreciated.

5minsmadness:
Kweke!

I want to categorically tell you right now that that your friend is your enemy oh!

It's a no brainer, BUY THE LAND! As long as it is an authentic land buy it! You even have the money to fence it round kindly do so immediately, that way you are assured the land is yours and if there is any local quanta it will come up when the land is being fenced but by God's grace nothing like that will happen!

How long is your course? Kpatakpata 6yrs if you are studying medicine. Do you know how much that land will appreciate by in SIX years? Bros na wa for you o!

thanks sir. appreciated. studying mass communication.

mystiqueDZ:
My dear go for the land!!!
Make sure its free of 'poachers'
#bewareoffrenemies

thanks a lot.

banmeandquench. thanks a lot Iya Wura. well noted. greet little madam o

thanks house.

Oga Sagamite, thanks! well appreciated. Sagamu is off limits (well understood)

esscence00:
thanks ma. appreciated.

You are welcome