Owning a house is one of the most important assets anyone can have especially when it is situated in an urbanized area. In this way, he or she won’t be able to pay rent but makes money if the building is big enough to be rented out.
But is owning a house easy given the current economic situation we found ourselves in this year 2021?
We can go all about to talk about how it has never been easy to own a house in Nigeria especially when you are building it from scratch but this article is structured in a way to let you know that it was a lot easier to own or build a house in Nigeria in 2015 than it currently is in 2021, courtesy of many factors.
We will be comparing the prices of building materials in 2015 with that obtainable this year, 2021.
Price Of A Bag Of Cement In 2015 Compared With The Price In 2021
For the purpose of this comparison, we will be using Dangote Cement which is the most commonly used cement in Nigeria.
The price of cement in Nigeria has drastically increased despite the fact that the raw materials used in manufacturing cement are sourced within the country.
This has affected the construction and building of certain structures such as shops, restaurants, and houses by the masses as they can hardly afford the capital needed for such constructions especially when it comes to getting the cement needed for them.
In 2015, a 50kg bag of Dangote cement was being sold at a price of N1500 to N1700. This is almost triple of what it is currently sold now at a price of N3,800 to N3,900.
Price Of Blocks In 2015 Compared With The Price In 2021
This building material makes up one of the skeletal bodies of any building that is in construction. There are different types of blocks being used in the building sector depending on the type of structure being put up.
There are 6 inches ordinary blocks, 6 inches stone dust blocks, 9 inches ordinary blocks, and then 9 inches stone dust blocks.
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In 2015, the following blocks were sold as follows, 9 inches of stone dust was sold at N140 Naira, 9 inches of the ordinary one was sold at N120, while in 2021, the 9 inches and 6 inches blocks are sold at N350 and N300 respectively.
Price Of Doors In 2015 Compared With The Price In 2021
In 2015, the price of a flush door of high quality and low quality were being sold at N15,000 and N9,000 respectively. As of now, they are being sold at N57,500 and N28,500 respectively.
A Turkish imported door was being sold at N35,000 in 2015, this year, it is being sold for a price of N201,500 which can be able to get up to 5/6 of them in 2015.
Price Of Aluminum Sheet In 2015 Compared With The Price In 2021
The cheapest and commonest sheet used for roofing buildings in Nigeria is the Aluminum sheets. For the single fact that it has been the cheapest, it is the most used. Recently the price has increased to more than trice of the price.
A single aluminum sheet that was sold at N1,200 in 2015 is currently being sold at N4,200.
Prices Of Woods In 2015 Compared With The Price In 2021
Any form of the building relies solely on the use of wood, either for support, roofing, or other purposes.
The are many dimensions or measurements of woods being used and there are also types. The types are softwood and hardwood.
In 2015, a 2×2 piece of hardwood was sold for N230 and a piece of 2×4 hardwood was sold for N430.
This year, 2021, a 2×2 piece of hardwood is being sold for N600 while a piece of 2×4 is being sold for N1000.
Price Of Plywood In 2015 Compared With The Price In 2021
In 2015, a piece of white plywood board was being sold at N2,650 while it is currently being sold for a price of N5000.
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Written by Prince Chime, Nsukka
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