Stories by Maduka Nweke
The desire to build and own a home is a dream of every ambitious man. At times, this desire has lured a lot of people into mistakes that cost them a whole life’s fortune. This comes from the fact that being ready to build a house may not be being ready with all it entails.
Many people do not consider some stringent factors like surveying the land to know whether the space is enough to accommodate his dream home or not. Some do not think of the accurate design and the topography of the area and other relevant information. People spend a lot of time considering samples from old buildings and catalogues to find the ones that would suit their dream.
Files are filled with ideal pictures found in home magazines of layouts, design ideas and other information. Finally, you are ready to make this dream a reality. But in the pit of your stomach lingers a feeling, a concern that something may go wrong. With the following simple suggestions, you would be guided in avoiding costly mistakes when building your dream home.
Poor design selection
You will find that the moment you are ready with your cash, to pick the suitable design becomes a big problem because since the money is there, this design will entice you and the other one would come to mind and eventually you find yourself settling with one. The one you eventually settle for may not be the real work of a professional architect. You will avoid this mistake when you employ the services of a qualified architect who would give the pros and cons of such design.
Not planning a budget
You should not overestimate and overspend on your dream home. You must be able to know how much you can afford for building your dream home. How do you plan to finance the home? This will make designing and planning your project easier because you will know exactly how much money you have to spend. By planning a budget and securing financing, you have developed solid ground on which to negotiate with builders.
Not considering buildings in the community or area
Chances are you have already chosen a lot or an area or neighbourhood in which you plan to build. Look around. Building a home that is comparable in size and style to the surrounding homes is important. If your needs require a larger home, it is better you build within the average home in your area. This means you should neither build higher or smaller as it may affect your resale value later. Also, consider the style of your dream home in comparison to those that will surround it. Although you want your home to have its own character and appeal, you do not want it to stick out like a sore thumb within your neighbourhood. A home that is so unique and not comparable to the surrounding homes may not allow you to recoup your original investment in the long run.
Not planning ahead
Start by choosing a plan that will grow with you. What are your needs right now? Will these needs change within five years? What about 10 years? Chances are, they will, so plan your dream home accordingly. List what is important to have in your home right now and what you will need in the future. You may choose a home plan that is designed specifically to meet your needs. Or if you have a floor plan that you like but worry it won’t meet all of your needs, talk with a builder or an architect. Their expertise may provide you with minor modifications that will ease your mind and potentially take you into the future with greater ease.
Making structural changes in the middle of construction
Planning ahead also includes making decisions early. Know what you want before the builder asks. Make choices early regarding everything from the floor to the ceiling. Time and money are wasted during the building stage when the builder has to wait for you to make a decision or when changes have to be made to an existing structure at a later stage of building.
Choosing the wrong builder
Your choice of builder is the most important decision in the process of building your dream home. Talk with several builders and be thorough with your questions, concerns and ideas. Visit various sites to see developed and developing projects where to choose from.
Being passive
Be involved with the building of your home. Start by reading the builder’s contract. Ask for clarification of anything you do not understand. Be sure building codes are being followed. Watch for things that are not necessarily the way you want them. Be ready to resolve problems by compromising. Keep record of expenses. And most importantly, communicate, communicate and communicate.
Delayed approvals from building department
Before you start building your home, you must be sure the land is not government reserved area. Your building plan must be approved by relevant authorities to make sure your building is not demolished after you may have spent your fortunes. This would make you build once and for once without having to be stalled by unnecessary injunctions from government agencies.
So, now you are ready to make your dream home a reality. Realistically, it is impossible to foresee and avoid every possible mistake that may occur when building your dream home. But keep in mind these simple suggestions and you will be on your way to achieving your dream of being a proud homeowner.
No herds grazing at Hotel Presidential, Enugu –Investor
…Spends over $1m on rehabilitation
The core investor in the Hotel Presidential, Enugu, E Hospitality, has denied allegations that herds are now grazing at the building site. E Hospitality, which described the allegation coming from a politician as mischievious, said that delay in continuing work on the project does not mean it has been abandoned to herdsmen to graze on.
The firm said the project was delayed because the core investors are waiting on the administration of Governor Ifeanyi Ugwuanyi to appoint its board representatives to the company. The new government, it said, also needs to sign off on the new execution plan because of the foreign currency changes in the country. The third issue, it said, is that of the former lessee who went to court after his agreement was terminated by the government.
In a statement made available to the media, the Vice Chairman of Primeview, the Special Purpose Vehicle (SPV) that owns the asset, Mr. Chuma Anosike, said, “our attention has been drawn to a publication in the Vanguard Newspaper of June 30, 2016 where a certain Ray Nnaji made comments regarding the status of Hotel Presidential, Enugu, all of which are false, malicious and totally unfounded.
“Ordinarily, we would have ignored same but for the underlying mischief, which pervaded the entire article and its potential to cause disaffection within the populace.”
He stressed that since taking possession of the property, Primeview has spent over $1 million on geological survey, topographical survey, structural integrity test on building and environmental impact assessment. Other areas include strip out of pipes and wires in the building, and water proofing and refurbishment of the roof.
To set the records straight and avoid further dissemination of false and misleading information, the firm said, “we also find equally ridiculous the allegation that the hotel was sold by the immediate past Governor, Mr. Sullivan Chime, to his crony. A cursory investigation into the nature of the transaction that gave rise to the current Concession Agreement would expose the ignorance and/or deliberate mischief of the author.
“The Hotel Presidential was never sold. Primeview Hotels Ltd, the current concessionaire, is a Joint Venture company whose shareholders are E-Hospitality Services Ltd (owned by private interests) and Hotel Presidential Ltd (owned by the Enugu State government). No sale transaction ever took place nor was any contemplated as part of the agreement.”
Chime, he said, has no direct or indirect interest in either E-Hospitality Services Ltd or Primeview Hotels Ltd. Both companies are duly registered with the Corporate Affairs Commission (CAC) and their corporate documents are easily accessible to anyone who wishes to inquire.
“Without holding brief for Chime, as we are sure he is well able to defend himself, at no time during the negotiation or thereafter did he solicit or demand for any stake in either company or any personal benefit for himself,” Anosike said.
Pertinence Properties targets eastern market with VIP Gardens
Considering that shelter is a top factor in Maslow’s theory of needs, Directors of Pertinence Properties Limited have embarked on another promo-launch aimed at meeting the yearnings of eastern property market.
In a chat with Daily Sun, the Directors, Ezekiel Ahamefule Wisdom and Olorunseyi Sunday, agreed that the country at the moment was facing economic challenges, arguing, however, that no matter the challenges staring the citizens in the face, shelter remains an important need for everybody.
According to Olorunseyi, “this time the firm is headed to the eastern cities of Awka, Owerri and Asaba because the people there have been agitating for the product we provide.” He said the firm has already secured large expanse of land in those eastern cities, adding that at the firm’s various promos, cost of plots are reduced drastically to attract patronage.
“At this promo, plots of land that ordinarily go for N500,000 are sold at N300,000 to give the participants value for participation. Aside the eastern market, the VIP Garden has been spread to all other locations both in Abuja and in the western states of the country,” he maintained.
In his contribution, Ezekiel stated that before designing the company’s products for the market, the company considers that regardless of social and economic status, investment in real estate is cardinal as property business appreciates on a daily basis.
“For instance, in the last promo launch we had, we sold a plot of land for as low as N100,000. It simply means that even if you are an artisan or somebody that does not earn more than N30-N40,000 or even N20,000 a month, you can actually save enough to be able to buy a plot of land. So we classify those people as low income.
“But whether you are in the middle class or high class, we have locations for you. We have properties at Ajah for those that feel that is where they want to live. But if you want to go to Sango, Ifo or you want live at Ato-Oja close to Agbara, it is there. Then for the medium class, we have something going on at Ikorodu, so it depends on what you earn and what you can put into real estate,” he said.
Commenting on the price of land, they agreed that, “when it comes to prices of our land, it ranges from as low as N150,000 depending on the location. We have location at Sango-Ifo Phase 1, 2 & 3; at Ato-Oja, we have 1 & 2; at Ofada Owode, we have Phases 1 & 2 also. At Ikorodu we have, we have at Lekki, Ibeju Lekki 1 & 2. Even outside Lagos, we have at Abuja, we have at Kuje. At Ilorin, we have at Al- Sadam. We have in many locations, the cheapest is N150,000. Like I said, there was a time we sold a plot for as low as N100,000.”
Ezekiel said the company decided to organise the recent promo where all stakeholders are, especially those at the Trade Fair, so that the business men and women who are mainly easterners would have opportunity of seeing what the company offers.