By: Dandison Anusionwu
Owning your home has become of great importance and can save you a whole lot of financial stress. Affordable homeownership scheme adverts are found almost everywhere you turn. From radio jingles to screaming billboard adverts, social media, blogs, and the subtle flyers; you are greeted with a plethora of affordable homeownership deals every day.
The question is if these deals were truly deals,
Why does Nigeria still grapple with a huge housing gap?
Why are most middle-income professionals still living in rented apartments?
You guessed right; most housing schemes currently available are not really affordable. They look like what you can buy until you really sit down to do a financial analysis.
For example, an average 3 Bedroom duplex in the heart of FCT (Utako, Jabi, Jahi, Gwarinpa, Lifecamp, Dakibiyu, Garki, Guzape, Durumi, etc are currently going for between 60 – 80 million naira, But a little lower in price between 40 – 60 million naira in areas like Lugbe, Mbora, Dape lifecamp, Karimo, Idu, etc – depending on whom you are buying from and the scope of finishing.
What is generally prevalent is an expectation of a down payment of between one and three million naira and a balance paid over 18 to 24 months. Averagely, if you buy into any of these schemes, you will be paying eight hundred thousand naira to one million two hundred thousand naira (N800,000 -N1,200,000) monthly to own a home in 24 months.
In an economy with inflation perpetually in double digits and where middle-income earners are generally considered people who earn between one hundred and fifty thousand naira to five hundred thousand naira (N150,000 – N500,000) monthly, how is N750,000 monthly an affordable homeownership scheme?
So on the surface; except you have some extra savings somewhere, your current earning may not be enough to buy you a decent home in Abuja– in the face of other responsibilities you have to bear.
But how can you begin your homeownership journey and still have the capacity to take care of other personal, professional, and family responsibilities?
Here are three ways:
(1) Look for Schemes with the Right Housing Finance:
It is true that the housing finance market in Nigeria is still largely under-developed.
That is why we are officially launching
Our One Community Housing Scheme This Low-income Housing Scheme is done in collaboration with Federal Mortgage Bank (FMB), this opportunity is open to all business owners, civil and non-civil servants, artisans, and investors. It guarantees access to up to a 6-18million naira mortgage with an unbeatable 6% interest rate, payable in up to 30years – depending on your age.
(2) Buy from Developers whose primary interest is to provide affordable serviced plots for you.
Our One Community Luxury Home Here you can secure a plot with just a deposit of N250,000 and spread the balance in 12 months. One Community Luxury Homes gives you peace of mind on things like luxury, quality, comfort, legal paperwork, documentation, delivery, safety, security, and an environment for the whole family that you will be proud of.
One Community Estate Management and Property Development are aiming to stand out as one of the best real estate companies not only in FCT but across the 36 states in Nigeria. It is the only Real Estate Development Company certified by international standards starting from our consultants, contractors, architect, engineers, and world-class partners/investors.
(3) Take a Short Cut Approach to Home Ownership:
Don’t be caught procrastinating because you’re weighing your current financial status.
Our One Community Multipurpose Cooperative Society was created to assist individuals to save money, invest money and be eligible to collect fast loans to offset their equity or any other project
Let’s help you solve your housing challenge; be rest assured that our services are affordable, flexible, and meet standards, but you will need to increase your current earning through our Cooperative Society to buy into options like One Community Luxury Homes and One Community Housing Scheme.
So long as you can make up your mind today to work with us to fulfill your dreams of owning your homes, and serviced plots you can get your foot in the door today.
For further enquires call
Realtor, One Community Group.
Dandison Anusionwu is a sports analyst, researcher, passionate writer, content provider, inspired by the opportunity to learn more new things.