How I build my house with 20,000 monthly savings – Abiodun Lawanson
This is the story of a man who built his house from scratch to finish with just N20,000 naira monthly savings. He joined a cooperative which comprises of 50 persons and they all contributed 20,000 naira for a five-year investment.
How many of our youths today will think of investing money as small as 20,000 naira?
I bet they will prefer to spend it all on drinks and women.
Read the interview he had with Realty Point Limited correspondent below
NREH: Please introduce yourself to our readers
My name is Dr. AbiodunLawanson. I am a 65-year-old medical practitioner; married with four kids.
The wonderful encounter I had with realty point Limited and the role their subsidiary, Prime asset played made my dream come to fruition.
NREH: When was your first encounter with realty point Limited?
Dr. Lawanson: It was in 2005. I saw an advert on Punch Newspaper by the CEO of Realty Point Limited, Mr. DeboAdejana. l was serving at the Military Hospital, Portharcourt at that time. I joined the Hydeal and Successories Limited where 50 participants contributed N20,000 monthly for an investment of 5 years.
I invested this money in plots of land which I got fromRealty Point Limited, a subsidiary of Prime Estate and Pakuro.
When Realty Point introduced Prime Assets Housing, I instantly joined and became one of the foundation members.
I also got up to 2 million naira loan from the cooperative with 3-4% interest over the space of four months.
This is the breakdown of how I started and completed my building
I purchased my land at Ofada on the 6th of September, 2011. The plot was N600,000 at the time. I cleared with N8,000, agreement fee was N50,000, Land survey N80,000, borehole N150,000 while roofing was 300,000.
On the 24th of June 2013, site inspection was done by Ogun State ownership chapter 26/06/14 after submission of four copies of architectural drawings. My architectural drawing was done by an old schoolmate who is an architect.
I paid N83,300 on the 18th of May, 2017 then collected my C.O Assessment letter on the 23rd of February, 2017. I am still awaiting the collection.
The total cost of my property (four bedroom bungalow) presently is N 7,401,250. I moved into my house on the 3rd of September 2017.
If you look closely at these breakdown, you will agree with me that it is a combination of hard work, sacrifice, and determination. It all started with just 20,000 naira, now he has a property worth a whopping 7 million naira.
NREH: How were you able to pull this through?
Did you get any support from anyone?
Dr. Lawanson: Asides from the support I got from the cooperative, I also got support from my family members. They were always readily available to help me supervise whenever I am not around. My quarters was 35 kilometers away from my site but I was fortunate to have reliable and dependable in-laws who lived nearby and were able to fill in the gap for me.
My wife was also very supportive and encouraging. She made sure we visited regularly to follow up and sometimes went for inspection if I could not make it.
NREH: What experience do you have concerning building materials in Nigeria?
Dr. Lawanson: From my experience, the Asbestos roofing sheet seems better than the long span roofing sheet which I bought because of the high demand then. It started leaking that I had to change it to the Asbestos.
NREH: At What age do you advise someone who wants to invest in housing to start?
Dr. Lawanson: It is strongly advisable to start investing from the age of 35 years so that you can fully enjoy the benefit of the investment.
I, on the other hand, did not start early enough because I was investing in my children’s education and comfortably living in the government quarters.
NREH: What can you say about your experience with Realty point Limited?
I am happy I had an encounter with them and I must say, doing business with Realty Point limited has been impactful due to their reliability, dependability, and honesty. The relationship has been quite rewarding and beneficial.
You can also be a partaker of this investment opportunity by using your monthly savings for an investment that will yield juicy returns.