If you earn 50,000Naira monthly, here is how you can build a 2bedroom flat.
In our previous article we explained the necessary items you need to build a 4bedroom flat, as we said in our previous article it isn't easy to build a house, especially when your monthly earning doesn't satisfy your needs. But you don't need to worry, this article has been written to fully explain what you can to build a house, if you earn up to 50,000Naira monthly.
This process am about to explain applies to only people who doesn't have much financial responsibilities at hand, you need to learn how to save if you are a salary earner, don't be a wasteful spender.
1. Start saving up to 20,000Naira monthly from your salary, it might be difficult to do but if you really look forward to it, you can achieve it.
2. Now let's continue our plan, this is how you need to start saving, make sure you start saving towards 30 months, if you save for 30months that's 20,000×30months = 600,000Naira with this amount of money you can buy a land of your own get a land of 500,000Naira and set the foundation with 100,000Naira. This process might not be feasible to everyone, but I want you to know that this is based on the scale of someone who earns the proposed amount per month.
4. After getting the land, you continue saving, if you don't have another source of living, you keep saving 20,000 every month. We are now going to discuss now you are going to raise the house from the foundation to the roofing level.
5. This next part isn't easy but, it's worth it, at this point you need to keep saving that same amount for the next 12 months for seven years, here is the calculation : 20,000× 84 =1,680,000 this years might looks very long it's okay, this plan is for someone who is not intending to build in haste.
I can assure you that with the amount of money which has been estimated, you can build your house up to the level where it will get roofed.
6. The next plan is to roof your house, well we are going to estimate the cost of roofing(the cost depends on the type of roofing material you intend to use), the cost of plastering the house, the cost of wiring, the cost of borehole, the cost of fence and finally the tiles and other accessories.
7. This last feat might not look achievable, but we will explain a total of 6Million will be needed to cover up for those explanation we made in No.5,you need to save up to 28 years before you can get 6Million, it is not necessary you save up to that, you can apply for a loan and have the money deducted monthly from your salary, you can also complete the necessary things needed in the house, once you move in you can continue the rest.
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