• A young Nigerian man in his late 20s has set his sights on building a house after saving up to N1 million
• According to him, he runs a farm in his hometown and would like to construct a house there while he looks forward to tying the knot soon
• Engr Ezereonwu Donatus, a civil engineer and the MD at Demenz Consult Ltd, opens up on the possibility of constructing a house with N1 million

A man asked anonymously:

"Hi. I am in my late 20s and run a farm in my hometown and I have an intention of settling down soon but want to also want to build a house of my own, no matter how humble.

"I have been able to save up N1 million and would like to ask if it is enough to start and finish a humble house in a local area."

Engr Ezereonwu Donatus is a civil/structural engineer. He served as an intern and a graduate engineer at Odikam Royal Consultz and is currently the MD at Demenz Consult Ltd.

N1m, a good start

Let me start by congratulating you on your goal of becoming a homeowner and for working hard to save for that course.

While N1 million is a reasonable amount of money that you can start your journey to house ownership with, unfortunately, it can't complete a house project in Nigeria with the current material cost.

At least N5m needed to build house

You can make a down payment for certain materials, such as blocks, sand, etc. Depending on your taste, at least N5 million can give you the least two-bedroom if well managed.

In my six years of professional experience, I have learned that you won't likely have all the money needed to build at once. My advice has always been to "start with what you have."

What N1m can get you

At least N1 million can get you about 1,500 numbers of 5-inch blocks, 1 or 2 trips of sand, 10 bags of cement and small money to pay some labourers.

However, the prices of building materials are directly proportional to your location.

So, start with N1 million and break your budget into phases and stages. But bear in mind that N1 million won't make you a house owner; it will begin your journey to becoming one.

Expert offers to build house for N5m

Meanwhile, Legit.ng previously reported that a construction expert had offered to build a two-bedroom house for people with just N5 million.

While assuring people of his genuineness, he noted that the money would be spent with the client overseeing the affairs. He also noted that the building was made of bricks, and a perimeter fence wasn't included.

Many people have criticised the worker as they claimed he was making unrealistic promises. A netizen identified as @dukeee77 claimed that the average cost of building a two-bedroom house in Nigeria is around N12 million. Others accused the worker of hoping to exploit people looking to build affordable homes.

Disclaimer: Advice given in this article is general in nature and is not intended to influence readers' decisions about investing or financial products. They should always seek their own professional advice that takes into account their own personal circumstances before making any financial decision.

Have a story to tell? Need an expert's advice? Feel free to reach out to us at with "Ask An Expert" in the subject line.

Source: Legit.ng