17/08/2026
About few years ago, like 8 to 10 years back. There was this friend of mine doing so well in his work and was preparing to build his building then.
As of then, a bag of cement was #1800 to #2800
A trip of sharp sand was #12,000 to #15,000 depending on your location and choice of sand quality....
12mm rods was like #1400 to #2100
16mm rods was about 3k or more and lots of building materials was very much affordable compared to his financial level then...
He has about 3 to 4k already moulded blocks available then....and also about 4 of trips of sand and 1 or 2 trips of stones ....
But till today, he hasn't finished his building, not even to 40 percent...WHY?
He decided to build a duplex and maybe feel among the big boys.. without a financial knowledge, plans and budget consideration...
In one of our conversations then, he said '' at my level, building a bungalow looks like a downgrade to my personality...
He could have comfortably build a 4 to 5 bedroom bungalow or if possible a commercial property then , if he had taken the right decision....
His biggest mistake was trying to impress people,,,
What happened?..
On the course of building, due to the fact is carried out on a gradual process, base on financial capability or cash in flow, it wasn't a kind of speed projects...
INFLATION HITS... Building materials prices skyrocketed , believing things will go back to normal...
He decided to keep the project on hold...6 months , 1 year nothing changes...but at least he has recovered a bit in funds and work .
He decided to continue, as the project continues another inflation hits.... materials skyrocketed almost double...
This time, his job was affected due to competition from upcoming in his field,
Children school fees from primary to secondary, and lots more...
Remember, he has only one source of income which is his work...
At some point he managed to raise the building to a leveling stage... waiting for resources to commence with decking...as he waits, inflation keeps hitting.... presently now, running the deck of that particular building will cost not less than 12million or more... changing the plan to bungalow will cost less but more damage...
Let this also be a lesson to us, building is a great investment, but make sure you build according to your budget and what you can afford, especially if you are the only one taking financial responsibility of the project...
Your first building must not be your dream edifice, comparing to the likes of ZENCO etc....
Your first building is never your last building...
Before building, build your resources first..
Build your source of income first..
Build your business first...
Build a strong flow of income....
Build according to your budget...
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