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My Father's Advice

MY FATHER'S ADVICE... 1. Not everything will go as you expect in your life. This is why you need to drop expectations and go with the flow. 2.Reduce bitterness from your life, that shit delays blessings! 3. Dating a supportive woman is everything. 4. If you want to be successful, you must respect one rule - Never lie to yourself. 5. If your parents always count on you, don't play the same game with those who count on their parents. 6. Chase goals, not people. 7. Your 20's are your selfish years, build yourself, choose yourself first at all cost. 8. Detachment is power. Release anything that doesn't bring you peace. 9. Only speak when your words are more beautiful than your silence. 10. Invest in your looks. Do it for no one else but yourself. When you look good, you feel good. Normalize dressing well, you're broke not mad. 11. Some people want to see everything go wrong for you because nothing is going right for them. 12. Being a good person doesn't get you lov...
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FUNDAMENTALS OF HOME OWNERSHIP-THE PANAGORA BLOG

 

FUNDAMENTALS OF HOME OWNERSHIP


There are a couple of things about Home Ownership and these are the secrets that will be shared in this topic. So, regardless of your financial or social economic status, it will truly enrich you.

If you have a Land Cruiser, a Land Rover, and still have a Landlord, then something is wrong somewhere.

If you are troubled at the rate by which your landlord continues to increase rent, then check and review your lifestyle. If you drive a car that is worth the value of a house but you are still a tenant then something is fundamentally wrong.
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As of today in Nigeria, housing deficit is 20 to 21 Million, meaning that Housing stock is 20 Million and Housing Demand is 42 Million. This further shows that not less than this figure is homeless or nearly without a roof over their head.

Do you know that to address the housing deficit in Nigeria, there’s a need for an upward of 50 trillion Naira? This means it will take 10 years of our annual budget as a nation to address the housing shortfall which is almost impossible.

Private developers, investors, are critical in this new move.

Another staggering statistics we discovered is the fact that the housing deficit does not affect people at the top of the pyramid, it actually affects the middle and bottom part of the pyramid.

So, if you are thinking of going into real estate investment, you should focus your development around social housing for people within the middle and bottom of the pyramid as it is. They are the real segment of the market that needs housing unlike the top of the pyramid.

Despite this gap, most private developers and the government who have an interest in the real estate development industry have not catered sufficiently for a large churn of people. Monetization of housing benefits has become prevalent.

That’s the difference between the United States and Nigeria. In the US, with good credit, you can access a mortgage with 5% or 10% deposit down payment. You can access a befitting house for a man and his wife and two or three children.

In Nigeria, if we all sit down, waiting for aid, waiting for the government to settle our needs, then our dream of achieving this may never materialise even in a lifetime. And if nothing is done to salvage the situation, this may continue forever.

Fundamentals of Home Ownership

1. Your first home does not have to be your dream home or last home.

2. Most people who start building their houses after the age of 50, struggle to do so because of the daunting family responsibilities that stare them in the face.
3. It does not take bulk money to build a house.
4. With your current annual rent, within 5 to 10 years, you could become a landlord, thus, ultimately escape the harassment of shylock landlords.
5. A landlord of one bedroom apartment is more honourable than a tenant paying rent for a 3-bedroom flat or duplex.
6. As a tenant, you are the one sustaining the lifestyle of your landlord per time.
7. The land you buy doesn’t have to be in a choice location to fit as a strategic investment.
8. Your housing dream begins with taking a decision to buy a piece, plot or acres of land.
Now, the choice is yours to make. Do you want to wait on the government to provide low-cost housing or rather you take your future into your hands and build it as you want?


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