Housing is a basic need we all have and with the growing rate of estate development it is becoming more and more difficult for medium income earners who are considering to own their own building to do so. We spoke to some experts and real estate practitioners and they all stated that it is cheaper to build your own house than buying an already built one. Hence we decided to find out, how much does it really cost to build your own property, here what we found out;
1. Getting a land
The first thing to do is to get a plot of land you’re going to build your house on. You should consider the location and surroundings you want to build your house in, the type of soil your house will stand on. from our findings you could still get a plot of land in some areas in Lagos for 2.5 Million Naira (Abijo G.R.A, Songotedo, also in Ikorodu e.t.c; you can contact our expert on Mr Ayo on 09057570104 for more land deals under 3 Million Naira)
After purchase of the land, do ensure you collect the relevant document (Certificate of Occupancy, Survey Plan, Deed of Assignment e.t.c)
2. Make a building plan
Another important steps in building you house includes making a detailed and perfectly thought through plan of your future accommodation. The beauty of building is determined by how well your architect can understand your needs and put them beautifully and ensure it stands out. A good architect will charge between 100,000 Naira to 300,000 Naira for a good design.
3. Make a bill of quantities
This is one of the most important things you need to do if you want to build your house at a modest rate. After making this plan, you will know, how much will you need to spend to make the house you want. To put together this bill you literally have to know, how to make a house – how much of each building material you need, how many workers of each specialty should you hire and how long will they work on their part. That’s why it would be better for you to hire someone who knows, how to make such calculations. The person has to be trust worthy and should have your interest at heart. Our expert will be glad to help recommend someone to you, call him on 09057570104.
If you need a rough estimation to guide you is listed below;
For a 3 Bedroom Bungarlow; Material cost is about 7 Million Naira)
For a 5 Bedroom duple; Materiel cost will be about 11 Million Naira).
Please not this are rough estimates based on interviewing several expert in the building industry.
4. Hiring a supervisor, building contractor and Workers
Site supervisor is a person you will have the most contact with during the construction. He or she will make sure your plan is coming into life and will look after the construction. You should either hire the person with reputation – the person you can trust. He can double as your building contractor who will in turn hire the skilled workers who will bring the building to completions
For a period of 2 months with a budget of 3 Million Naira, you would have paid all the workers and supervisor building your house.
Depending on how you bought the land, community interference will try to influence the cost due to unnecessary demand but with our expert guidance that wont be the case, hence we can tag miscellaneous at 500,000 Naira.
Total cost for building a house now becomes;
For bungalow; 2.5 Million Naira (Land cost) + 7 Million (Material Cost) + 3 Million (Workers/supervisors payment) + 500,000 Naira (Miscellaneous), which equals 13 Million Naira
For a 5 Bedroom Duplex; simply changing the cost of materials to 11 Million Naira will bring total cost to
17 Million Naira.
Please note this is just a rough estimate but this gives you an insight into how much you will put out if you were to build as against 30 to 55 Million if you were to buy from developers. But if you still desire to buy an already built property ( Duplex or bungalow) our expert agent can still find a good deal for you at a reasonable fair price, call him now on 09057570104 or kindly Click to fill the property Interest form.