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  In life, human needs are never thought, they are usually realized over time, a child is never thought she or he needs air to breathe or food to eat, the hunger for both comes naturally, same way over time young adults, the need to make or earn a living comes up, for many especially those who plan to one day have a family or already have one, there is going to be a desperate need for shelter, that is owning a house. The problem with satisfying this need is the fact that not many understand how this need is exactly met, why? Simply because there is a huge veil of ignorance blinding many, this veil is what makes many weigh their personal wants over their need when it comes to owning a house; this is why I felt the need to write on owning your first house. The basic truth no one tells you, is that there is a huge difference between your first house and your dream house, a lot of people think they are the same, hence why you can find a 40 year old with an averagely good job but yet ...

  The word “affordable” is one of the most abused words in the African real estate market, one would expect for something to be inexpensive or at least have a reasonable price when tagged as affordable, but a complete reverse is usually the case. This is what has set the grounds for this topic, as we will be carefully looking at the concept of affordable housing in relation to Nigeria’s five income classes, Yes five, these five classes can later be categorized into 3 classes, they are; Low income class, with an annual income of #480k and below Lower middle income class, an annual income from #480k to #6m Upper middle income class, an annual income from #6m to #12m Upper income class, an annual income from #12m to #120m Elite income class, with an annual income from #120m and above These 5 classes as you guessed it can further be categorized into 3;   Low income class, which comprises of a staggering 80 million of Nigeria’s 200 million citizens, that is 40% of the total...

Quickly now, we will be looking at the socialist idea behind the feasibility of long term mortgages in Nigeria, using the United states of America as a short case study. Let us note that we will not be going into too many serious details, but simply exploring the idea and its possibility in a country like Nigeria. Firstly we must notes for those who are not aware, that there have at different points in the history of Nigeria, been long term mortgages available to the public, but the obvious infestation of vested interests did not make it a successful venture for real estate investors. A mortgage is simply a legal agreement where a bank or entity lends money, product or services at an interest rate, while holding on to an ownership title or deed of a property or asset, be it a physical or intellectual asset. In general real estate practice, it is a process by which a bank or authorized real estate body/society lends money to approved individuals, to make a real estate property availab...