Is building a house an asset?

Is building a house an asset? This interesting question was asked in an online forum where I belong.

As is common with online forums, this question sparked lots of comments and reactions. I joined in the discussion and I am presenting in this post my comments and some of the reactions from other members of the forum.

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Is building a house an asset? My humble reaction

This is my reaction to the original post on this topic, Is building a house an asset?

The original post actually spoke against people building a house as an asset. He believes other assets should be considered instead of going the way of building a house. He particularly advised people to consider doing business instead of building a house.

Now look at how I reacted to this post below:

Other important factors not considered

Though you made some sense with this post but you did not consider many other factors on this topic, Is building a house an asset.

For example, a man who invested 5m naira to build a house somewhere in Lagos 10 years ago will be thanking God he did so today.

Analysis of the the truth above

I further gave an analysis of the truth I shared above. Read it below:

• What 5m naira will build many years ago will be far less than what it will be required to build today. So you will be happy you built the house many years ago.

• You can’t also compare the rent you will be collecting today compared to many years ago.

• A lot of factors will depend on the area where you are building the house. If you get the right location, you have hit a jackpot.

• Some old landlords in Ikeja (Lagos ) and some other parts of Lagos are raking millions annually compared to what they invested in building the house many years ago.

• You also failed to consider the fact that not everyone is cut out for business. Yes, that’s the truth.

So don’t say categorically that building a house is not an asset.

I hope you are able to get value from this conversation on why a house can be a good asset for investors.

Let me read from you. I also want you to share this post with your friends.

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