Your Next Five House Rents Will Buy You a House

The article below was submitted by a Guest User


Adelaide and Ajagungbade are two friends in the same Organization, they had been friends from the University and got a job same day at a Finance Parastatal in Marina. Having lived together for the first two years in Surulere, in 2006, it was time they got married one person had to relocate. With the wedding in three months, Ade’s fiancée opined that she got an offer to buy a 2-Bedroom Flat for N2,000,000 million in Agbodi, Lagos-Ibadan expressway. All that was needed was a 3months payslip, Employers confirmation and a payment of just N200, 000.00, and you’ll pack in. While Ade reluctantly agreed, having been persuaded by his fiancée, he introduced the offer to his bosom friend who thought he was crazy. How will you cope with traffic along that route? He asked. But his fiancée prevailed and they moved to this new environment. The first year was very tedious as his shoe got stuck in mud daily. He was the laughing stock of his colleagues, but always smiled. After a period of three years, he adjusted and began to be the best dressed in his office. Within five years, he was driving the better of cars, living a better life than his contemporaries While his friend had been living in Gbagada since the last three years, both families were happy to hang out at various places.

Fast-forward eight years (in 2014), Ajagungbade asked his friend about owning a property in his area. His friend laughed him to scorn, believing it was one of those tantrums. He narrated how much he had paid as house-rent since they separated. A mind-blowing N4.8 Million, in landlord charges and commission within 8 years. With his house rent set to expire, he was told that the 2-bedroom flat is now being sold at N6 Million. What? He screamed.

Adelaide now narrated how he now has three of those 2-bedroom flats, purchased the two on 15-year mortgage and currently pays N77, 778.00 monthly. Having paid his initial N1.8 Million Balance and other interests within 30 months, he told him about the environment he used to call bush boasting of Schools like Emerald, StraightGate, amusement parks (currently being constructed in redemption camp). He narrated how he leaves his house at 6.15 am daily (except on Mondays) and gets to work around 7.30am/7.45a.m.

A side-to-side comparison shows that Adelaide is now worth N24 Million in terms of properties (3 houses and three plots of land), while Ajagungbade worth N5 Million (has two plots of land in Ikorodu). This is the conclusion – AJAGUNGBADE LIVED IN THE NOW, WHILE ADELAIDE BOUGHT THE FUTURE

For more real estate articles, vist us on http://www.demacsprops.com

Share this article:
  •  
  •  
  •  
  •  
  •  
  •  
join our mailing list

Do you want more articles like this delivered to your inbox?

Join our mailing list to receive the latest news and articles.

PS: Your email WILL NOT BE SPAMMED. See our Privavcy Policy for detail.

Thank you for subscribing. You are now part of our mailing list.

Show/Hide Comments

0 thoughts on “Your Next Five House Rents Will Buy You a House

Leave a Comment

join our mailing list

JOIN OUR MAILING LIST

Get all the latest and most popular news, tips, articles and information from our website delivered straight into your inbox.

Thank you for subscribing to our mailing list. You will now start recieving our periodic newsletter.

Powered byRapidology