Hello nairalanders

A leading developer in Lekki is selling 3 bedroom bungalows (all rooms ensuite) for 42m. I'm wondering what have I missed as their finishing is very mediocre. You have the option to buy and build yourself and I opted for that as I believe their costs are TOTALLY outrageous.

Plot of land = 12m
Fees = 600k
So 42m - (12m + 600k) = 29.4m

How can a 3 bed cost 29.4m?

This is what I have budgeted for mine which is a 5 bedroom ensuite at that. And I have over estimated all my figures to be on the safe side as you will also notice.

Construction: From start to finish.

Assuming:

1.] A whooping 200 bags of CEMENT is used @ 2600 per bag = 200 x N2600 = N520,000

2.] A whooping 6000 (9 inch) BLOCKS is used @ 170 per block = N1,020,000

3.] A whooping N1m is spent on GRANITE and SHARP SAND = N1,000,000

4.] A whooping .5m is spent on sand for FILLING = N500,000

5.] A whooping .5m (miscellaneous like pegs, planks, ropes, iron rods etc) = N500,000

Please note: These materials are used for Foundation, German floor, Septic tank, purchasing of water (no borehole allowed) and all other necessary stuffs.

6.] Roofing = N3,000,000
7.] Finishing = N3,000,000
8.] Labour: N1,000,000

So N520,000 + N1,020,000 + N1,000,000 + N500,000 + N500,000 + N3,000,000 + N3,000,000 + N1,000,000 = N10,540,000.

My already OVER ESTIMATED costs = N10,540,000 but again, to be on the safe side, I have budgeted 12m.

So. N29,400,000 - N12,000,000 = N17,400,000

Noe I don't know what their construction fees are. But their construction fees, architectural fees etc can't amount to N17.4m surely.

So please expert builders/COREN engineers/Quantity Surveyors in the house what have I missed?

Also will I achieve a 5 bed (all rooms ensuite, living room, guest toilet, kitchen, pantry) with what I have budgeted.

Thanks

You have missed the sandfilling part in Lekki Ajah side. Sandfilling along can take 5m depending on how deep the water is.
You have also missed the raft foundation part which can cost close to 4m.
You have also missed the german floor that is also reinforced

My brother building in mainland is totally different from building in Island.

enchilada:
Hello nairalanders

A leading developer in Lekki is selling 3 bedroom bungalows (all rooms ensuite) for 42m. I'm wondering what have I missed as their finishing is very mediocre. You have the option to buy and build yourself and I opted for that as I believe their costs are TOTALLY outrageous.

Plot of land = 12m
Fees = 600k
So 42m - (12m + 600k) = 29.4m

How can a 3 bed cost 29.4m?

This is what I have budgeted for mine which is a 5 bedroom ensuite at that. And I have over estimated all my figures to be on the safe side as you will also notice.

Construction: From start to finish.

Assuming:

1.] A whooping 200 bags of CEMENT is used @ 2600 per bag = 200 x N2600 = N520,000

2.] A whooping 6000 (9 inch) BLOCKS is used @ 170 per block = N1,020,000

3.] A whooping N1m is spent on GRANITE and SHARP SAND = N1,000,000

4.] A whooping .5m is spent on sand for FILLING = N500,000

5.] A whooping .5m (miscellaneous like pegs, planks, ropes, iron rods etc) = N500,000

Please note: These materials are used for Foundation, German floor, Septic tank, purchasing of water (no borehole allowed) and all other necessary stuffs.

6.] Roofing = N3,000,000
7.] Finishing = N3,000,000
8.] Labour: N1,000,000

So N520,000 + N1,020,000 + N1,000,000 + N500,000 + N500,000 + N3,000,000 + N3,000,000 + N1,000,000 = N10,540,000.

My already OVER ESTIMATED costs = N10,540,000 but again, to be on the safe side, I have budgeted 12m.

So. N29,400,000 - N12,000,000 = N17,400,000

Noe I don't know what their construction fees are. But their construction fees, architectural fees etc can't amount to N17.4m surely.

So please expert builders/COREN engineers/Quantity Surveyors in the house what have I missed?

Also will I achieve a 5 bed (all rooms ensuite, living room, guest toilet, kitchen, pantry) with what I have budgeted.

Thanks

The Materials used in the building will likely gulp most of the cost.. They are costlier than each other...Furniture also. But, i don't think it should be up to that amount. Too much of an hyperbole.

Considering your budget for a five bedroom, you can't actually calculate for the foundation. Because, it depends on the Soil bearing capacity. A soil test may be needed to be carried out so as to really determine what is required. Some lekki lands requires Raft Foundation, but if swampy, requires Pile Foundation.

The architectural design of the structure also matters. It is what defines the cost. You can achieve all those spaces in the building, with Comfortability and Functionality. Check My Signature.

Bottom line : Your estimate (based on rough analysis) should be okay. The cost cannot reach the Former, am pretty sure . But still, some certain things needs to be considered.

coretechng1:
You have missed the sandfilling part in Lekki Ajah side. Sandfilling along can take 5m depending on how deep the water is.
You have also missed the raft foundation part which can cost close to 4m.
You have also missed the german floor that is also reinforced

My brother building in mainland is totally different from building in Island.

Hello and thanks for responding.

With re: your comment about not factoring in the cost of "Filling" and "Foundation". I did. That's why the bags of cement and number of blocks and sand, are that much.

I was told "Raft foundation" for a bungalow in Ibeju lekki should be about 3m max. This has already been worked into the figures. Notice I stated that the costs include "Foundation, German Floor" Etc.

Plus I went way over with the amount of Cement, number of blocks and Sand, that I believe I'd need and the money for this be added to cost of the Foundation, and German floor if it turns out this will cost more than anticipated.

Lastly, I be woman o. Lol

Umarzy:


The Materials used in the building will likely gulp most of the cost.. They are costlier than each other...Furniture also. But, i don't think it should be up to that amount. Too much of an hyperbole.

Considering your budget for a five bedroom, you can't actually calculate for the foundation. Because, it depends on the Soil bearing capacity. A soil test may be needed to be carried out so as to really determine what is required. Some lekki lands requires Raft Foundation, but if swampy, requires Pile Foundation.

The architectural design of the structure also matters. It is what defines the cost. You can achieve all those spaces in the building, with Comfortability and Functionality. Check My Signature.

Bottom line : Your estimate (based on rough analysis) should be okay. The cost cannot reach the Former, am pretty sure . But still, some certain things needs to be considered.

Hello and thanks for responding.

Yes, I plan on getting a soil test done. I'm budgeting about 3m max for the Foundation and German floor. But my cost estimates already made allowance for these costs. I worked off the figures I got from a pretty good property construction site and multiplied everything by about 3.

But I am now convinced, especially as I am going for a simple design (the interior finishing is where I'll go top-notch), that construction from start to finish, can't gulp more than 12m. Max will be 15m which I highly doubt.

But thanks for your input once again. It was highly appreciated.

enchilada:


Hello and thanks for responding.

Yes, I plan on getting a soil test done. I'm budgeting about 3m max for the Foundation and German floor. But my cost estimates already made allowance for these costs. I worked off the figures I got from a pretty good property construction site and multiplied everything by about 3.

But I am now convinced, especially as I am going for a simple design (the interior finishing is where I'll go top-notch), that construction from start to finish, can't gulp more than 12m. Max will be 15m which I highly doubt.

But thanks for your input once again. It was highly appreciated.

You are welcome.