Are you undecided about how to acquire your first home, buy or build? For how long do you want to strive to be a good tenant? Do you want to avoid the silly mistakes that have cost many first time homeowners hundreds of thousands of naira?
Then these 50 great real estate advice/tips on how to metamorphose from being a tenant to being a landlord could be the best pieces of advice anyone can give you for free.
1. Your first home does not have to be your dream home.
2. If you wait till you save N85million to buy a beautiful house in a high-brow neighbourhood, chances are that you will never own your home.
3. If you are not tired of being a tenant, one day the owner of that house will grow tired of being your landlord. Make haste now.
4. One 9-inch block costs less than a bottle of beer. If it takes 3,000 blocks (= 100 crates of Guinness) to complete a building, many men would have at least 2 huge houses standing in their bellies before they turn 60.
5. It would not be wise to retire and then use your pension and gratuity to pay for house rent.
6. Travelling is enlightening. Education is rewarding. But owning the roof over your head is priceless.
7. A car is a liability. Your own house is an asset. The wise knows which one to commit first savings on, first.
8. It does not matter much whether you are a barber, trader or civil servant, you can build your own house with focused planning.
9. Your father's house is not your house. It can shelter for a season. You might even be your father's only daughter or his favourite son but his house is still his.
10. There's no better time to start planning than now on owning your own home.
11. Simply because your best-friend started out by building a 10-room duplex in a GRA does not mean you have to insist on a mansion or nothing else.
12. Your first home is your most important, as it catapults you from being a mere tenant to dining with respected landlords.
13. Landlords don't hate kids. They just hate that your kids litter the place every now and then. You can keep letting them pick on your children or you can do something about it.
14. It's not the job of your boss to build a house for you, so don't expect the salary he pays you to be big enough to buy you a house in one swoop.
15. You will find 101 reasons why you should not build a shelter over your head, if that's what you keep searching for.
16. If God hath not buildeth a house, he who buildeth labours in vain.
17. Mortgage is great but it involves long term financing. So be assured of a steady flow of income over a predetermined period before you plunge into it.
18. Location is very important. It's worth a repeat. Location is probably the most important factor to consider when planning your house. Don't be so desperate you'll be conned into buying a piece of land in the swamps.
19. Landlords are not on earth to make life easy for you. Rather, you are here as a tenant to make living good for them. The great thing though is that you too can become a landlord should you want to.
20. Your landlord is not your best friend, don't be mistaken. He's only your friend for as long as you pay his rent and other bills promptly.
21. You may see him as a greedy landlord but he's only trying to glean the most return on his investment. You would do same in his shoes.
22. Landlords are pain in the ass. They are nature's thorns acting as a constant reminder that you are not home yet.
23. Very many tenants have died in another man's house. Many still will. You are still alive, all glory to God, and you can still re-write how your story will end.
24. Some tenants have more saloon cars than their landlords. A rich man who doesn't own the shelter that covers his family is a rich fool.
25. An average family living in a 2-bedroom apartment in Ibadan will pay at least N100k a year as rent. At the end of 25years, the family's breadwinner would have paid as rent enough to sufficiently erect and furnish a 4-room bungalow.
26. Many tenants blood pressure are usually normal until that time of the year when the landlord knocks to ask for his yearly dues, then their blood pressures rise sky high.
27. A journeyman is a seasoned tenant. He has a long and rich history with countless landlords in different areas. He does not stay in one area for too long. He was born a tenant and he will die as one. It's not a curse, it's who he is.
28. Your father may never have laid the foundation of any building, but that does not mean you too should die in other people's houses. You are not jinxed. You only need to eject your 'journeyman mindset'.
28. Unlike death which is appointed to all men, it is not destined for all men to be land and home owners. If it were, who would be tenants, who would landlords lord over, who would make money for real estate developers, who would lose that others may gain?
29. Very few moments in life are more beautiful in life than the day you proudly move into your own house. You need to experience it to feel its indescribable magic.
30. Whenever a man asks me how many houses he should build, I like to answer them that as many as his creator has given him the wherewithal.
31. Yet if a man has 1 wife, he should strive to build a house to cover his secrets during his sojourn on earth and after. And to he who seek to marry four, he should be ready to build as many houses. Then will shame not cover his face or his grave.
32. No one is ever too young to build his own home, just as no one is ever too old.
33. The thought of saving enough money to build a house to completion can be crippling. Yet it's clearly not how big your paycheck is or how fat your profits are. So be assured in the fact that others like you have done it and that you too will.
34. The race is not to the swift or mighty and even if you have to crawl at snail pace, one day you as well will cross the finish line.
35. Because it only took Chief MoneyTalks 3months to start and finish his mansion doesn't mean you have to grow desperate to the point where you start running after every money-doubler in town just to do the same feat. Every man has his or her race to run and the time it will take every man to achieve this feat is different.
36. If you are too comfortable with the house you rented, it would be really difficult to even entertain the idea of moving to your own permanent, but-not-as-classy abode.
37. I know a lot of people who rent apartments not because they cannot afford to finance the construction of their own home but because they do not want to change the environment they are already accustomed to. Some have come to regret that decision. Many are still oblivious of the huge pit just up ahead.
38. If you are already in love with your present location and you're too scared to move to a neighbourhood where you can actually afford to build your own home, to you I will repeat Advice 1: Your first home does not have to be your dream home.
39. If you are being pushed by something or someone and building your own home is presently on your front burner, don't be propelled towards dealing with cheats and conmen. You will get burnt.
40. In other words, beware of quack agents, trespassing on other people's land and any property that carries the 'Not for Sale' signpost.
41. Having the desire and dreaming about your first home is good but taking concrete steps towards fulfilling that dream is even better. Take a small step today.
42. Landlords hate old tenants: they give the most problems and know how to negotiate lower rents than new ones. Even nice landlords will suddenly become hostile in trying to push such old tenants off their property. But smart tenants will move out of the property into their own property before the situation degenerates.
43. Buying the best house in a terrible area is just as bad as buying the worst house in a great neighbourhood. Take another look and one more before you leap.
44. Whether you are buying a land or a house, it is wise to employ the services of a real estate agent and/or a real estate attorney. Their combined experiences will help you avoid costly pitfalls.
45. Visit the property (land, house etc) you intend to buy more than once. Look for signs that will give you clues as to why the owner is selling. E.g. is the building erected in a trouble-infested area?
46. At every engagement point, be sure you are dealing with the very person/party who has every authority to sell.
47. Don't part with a kobo until you have seen the property/house of your choice in a good neighbourhood.
48. Local estate agents are not providing quality listings? Handle your home search yourself and take your search online! Visit OLX, NigeriaProperty etc.
49. To avoid scammers, ask your friends and neighbours who have successfully taken that leap to recommend the agents they used when buying their own property.
50. Searching for a house to buy, looking to avoid silly mistakes, in need of a real estate broker in Nigeria you can trust, why not Contact us and let’s help you take the stress out of the process.