On the 1st of June last year, Adwoa and I decided to begin building our first house together.
We had seen our son grow each day and it dawned on us that he would need a better place to learn, play, and grow.
So she switched into analyst mode and I switched into laborer mode.
Buoyed by expected cash from farming ventures, savings, and other projections, we gave ourselves up to the end of November 2019 to move into our house. That was quite ambitious.
It's been a journey full of lessons and many moments of joy.
We couldn't finish in 6 months as planned, but we've made amazing progress and are almost done, soon to be free of rent issues.
Paul Kofi Mante has been a great resource for us. The insights and the tips he's shared on the Citi Breakfast Show over the years helped us work on our financial fundamentals. Folks, the things he talks about are doable if you are committed/disciplined. I remember how he inspired me to invest in a house in the village about 4 years ago.
Housing is not an easy investment. It is capital intensive, whichever way you approach it.
However, if you get the right professionals to help you design a functional/sustainable house, and you phase your development, you can free yourself of rent and take your time to complete your house incrementally.
In our case we got Architect Philip Nartey to design the house (which we tweaked slightly along the way).
We also sought a lot of wise counsel from Akwabena Peprah on ways to cut down costs while ensuring the highest quality. Kwabena is the brain behind The Ritz Square, The Garden at East Legon, and the chief laborer at The Oxford at Appolonia. If you wish to buy a house or want to enter into proper real estate, he's your guy.
Many people may not get the chance to build or buy houses because they do not get the right to advise and help.
Many people have sleepless nights because they always need to figure out what the next move would be with respect to security and functional shelter.
Unfortunately, the state doesn't look like it has plans for you and I. We are practically on our own when it comes to affordable housing.
I have been asked to write about owning a house and how we managed two houses in four years. I'll finish it soon and have it published.
While we wait for that detailed write-up, I leave you with these:
1. Every human being needs shelter
2. Many of us will continue to pay rent all the way into retirement
3. Some will retire rent payment and work towards financial independence
4. Young (who)man: the car(s), high-end phones, the expensive clothes, wigs, shoes, and gadgets are essential components of houses you are wasting
5. You don't have to be rich to own a house, you have to be smart and focused
6. Give yourself a maximum of 3 years to stop paying rent if you have land
7. The most important thing that will see you through your journey is HONESTY
8. If you are struggling with your project, you may inbox me. I can share ideas and/or recommend people.
1. Every human being needs shelter
2. Many of us will continue to pay rent all the way into retirement
3. Some will retire rent payment and work towards financial independence
4. Young (who)man: the car(s), high-end phones, the expensive clothes, wigs, shoes, and gadgets are essential components of houses you are wasting
5. You don't have to be rich to own a house, you have to be smart and focused
6. Give yourself a maximum of 3 years to stop paying rent if you have land
7. The most important thing that will see you through your journey is HONESTY
8. If you are struggling with your project, you may inbox me. I can share ideas and/or recommend people.
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This piece was written and shared by Kojo Akoto Boateng, the Head of Research at Citi FM and CITI TV
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