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Cost breakdown for a 3 bedroom bungalow in Nigeria (Part 1)

Posted by DanbelPro@InvLtd on June 5, 2021
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The prospect of building a house worries a lot of individuals because they believe it is extremely expensive. In fact, if you have been around individuals chatting, the amount of money they mention might be alarming occasionally. You may hear figures as high as ₦25 million for a typical three-bedroom home in the village, while some claim that a three-bedroom house with superb finishes might cost up to ₦50 million. These figures do not cover the cost of purchasing land or furnishing the home.

Of course, you can build a three-bedroom bungalow for ₦50 million or even ₦1 billion if you wish. It is, nevertheless, extremely possible to spend less money. Yes, as low as/as high as 5.5 million! This post will show you how to do it.

Follow us as we walk you through the various processes of building a 3-bedroom bungalow, starting with the basics like acquiring land, obtaining architectural drawings, and obtaining government approval, all the way to the actual construction stage.

PLEASE NOTE: This article does not provide a precise cost estimate for building your own home, but it does include a step-by-step study of the process of building a basic 3-bedroom flat, as well as cost estimations.

Acquire a Good Land

The price of land depends on its location and the prevailing real estate market conditions. Take the example of Lagos State. Land may cost ₦400,000 at Ibeju Lekki, ₦120 million at Ikeja, and ₦650 million on Victoria Island.

Buying a full plot land is a good idea, but you can further reduce cost by going for half plot of land. A half-plot of 30ft x 120ft or 60ft x 60ft or 50ft x 50ft or 25ft x 100ft can take a 3-bedroom flat with enough space for parking two cars.

It is better to buy land with a Government Excised title and other relevant documents to avoid falling for scammers. While buying land from Omo Onile is affordable, it also the riskiest as you stand a higher chance of falling victim to scam except you have ample experience in land sales and acquisition. The land documents you need to collect from the seller include:

  • Land Receipt
  • Survey Plan
  • Deed of Assignment

If you want to acquire a safe half-plot of land with a Government Excised title at Windspring Estate, you’ll need to budget ₦3,100,000, which includes documentation, survey, and development expenses.

The total cost of acquiring land = ₦3,100,000

Get Your House Plan

Do not attempt to draft your plan on your own because your drawing may not meet the government’s approval standards. Also, keep in mind that this will be your home. A shoddy design might result in shoddy construction, making life in the house miserable.

It is recommended that you obtain your plan from professionals, and this does not come at a high expense. A bungalow building plan might cost anywhere from ₦50,000 to ₦300,000, depending on the site, professionals, and other factors.

A building plan is made up of multiple drawings that depict different components of the construction process, and it usually contains the following:

  • Architectural drawing,
  • Structural drawing,
  • Electrical drawing,
  • Mechanical drawing, etc.

You’ll submit your building plan to the government for approval once you’ve completed it. The government will charge you a fee for this, which is typically between ₦50,000 and ₦300,000 for a three-bedroom home in Lagos. You can begin construction on your property once your building plan has been approved in Lagos. Also, get a Bill of Quantities (BoQ) because that’s the only method to be sure of your project’s exact material requirements..

The cost of the building plan and government approval = ₦500,000.

Prepare Your Land For Construction

The actions required to prepare the land for building begin at this stage. Clearing the land, uprooting unwanted trees, and creating access to your land for vehicles transporting building materials are examples of such tasks.

This stage is simple to recruit employees for, and it typically costs between ₦20,000 and ₦50,000 depending on the size of the property, the quality of the soil, location, the number of trees to be uprooted, and a variety of other considerations.

The cost estimate for preparation stage = ₦50,000.

Building Stage

For this part, we will be using building material requirements compiled from an actual construction project. Let us divide the building process into four major stages, namely,

  1. Foundation to the Damp Proof Course (DPC, also called German floor) and Soak-away
  2. DPC to lintel level
  3. Roofing
  4. Finishing

We’ll get into the nitty-gritty of the construction stage next week. Sign up for our news letter by clicking the link below to be notified when the follow-up piece is published.

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Read the Second Part here

 

 

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