How to Build a house in Nigeria with Ease

Nigeria is the most populous country in Africa, with an estimated population of more than 200 million people. Having a large population comes with a price, you have more people to feed and more people who need a place to live. According to a recent United Nations report, Nigeria’s current housing deficit stands at over 17 million units, that’s a huge predicament.
The Nigerian governments on their part have initiated some housing schemes e.g. Federal Housing Authority (FHA), Federal Mortgage Bank of Nigeria (FMBN), etc. These schemes albeit needed haven’t achieved their objectives in reducing Nigeria’s housing deficit, the Nigerian government through these numerous schemes has provided 6,000 houses per year, far behind of 700,000 units needed.

Why is it difficult to build a house in Nigeria?

A large percentage of homeowners in Nigeria built their homes independently, they buy or inherit a land, hire some few professional/semi-professional builders or artisans, that’s it they’ve built a home. This route has become so corrupt, fraudulent and heartbreaking because of the presence of so many middlemen and no regulatory body.
Many individuals have lost their life savings by being frauded with a wrong land purchase and sub-standard materials by hired builders. Some have also lost their houses to Government reclamation since most of these lands were bought with inadequate documentation and improper property findings. Although few have been lucky, mainly those with sufficient finance to buy an already built house or those who acquire the service of private real estates organizations or agents.

An easier way to build a house in Nigeria

There are few schemes set up to alleviate the hurdles of homeownership, some by private organizations and some by the Governments. Most reputable organizations also allow their staffs to organize unions/cooperatives, some of these cooperatives acquire lands in bulk and share to their members.

Yet, these solutions are not 100% safe, with little awareness and entry barriers for interested subscribers. Below are some of the few routes to build a home in Nigeria with ease.

Letsbuild4u Housing scheme: this is our housing scheme where we provide an easy pathway to low, middle and high income earners to build their home conveniently. We remove the barrier of buying land before you build by offering house construction in our estates and spreading the payment in affordable monthly installments.
Nigeria Housing Scheme (NHS): this is a housing scheme set up for every working class Nigerian citizen, every working class citizen is required to have an account with the Federal Mortgage Bank (FMBN) and make a monthly contribution from their income/salary. At the end of retirement or when needed, this contribution can be used to finance a house either as a whole or with some financial assistance from FMBN through a mortgage loan.
Nigeria Mortgage Refinance Company (NMRC): this company refinance mortgage banks knows as PMI (Primary Mortgage Institution), these mortgage banks in return finance the homes of their subscribers. The advantage of NMRC is providing the needed funds to mortgage banks through the capital market with a lower interest rate.

How to subscribe to any of these housing schemes

Apart from our affordable housing scheme, which is open to staffs, cooperative or individuals. We also assist staffs and individuals to access their NHS contributions or to acquire NHS loans to finance their home.
Moreover, as a property consultant and an estate developer, we offer mortgage advice to interested cooperatives and organisations who are interested in financing house construction for their staffs or members through mortgage loans.

Housing package for low income earners

In line with our vision of building affordable houses to all economic classes in Nigeria, we also set up a low cost housing scheme for those at the lowest end of the income chart.
With monthly installments of N50k, no initial deposit and no interests, we offer 2 bedroom carcass apartments in our estate. The apartments goes for N4 million payable in monthly installments of N50,000 for seven (7) years, subscribers can pay more and increase their monthly payment as they deem fit.