YOUR HOME IS NOT AN INVESTMENT
You see that 5 bedroom duplex in Lekki Lagos Nigeria that you own worth N100 million, where you currently stay with your family?. It is not an investment.
Except maybe you have plans of selling it for a profit in the near future.
However for most people, they will own that house till the day they die, making and preserving family memories.
The value of the house would definitely add to your net worth but it will not produce any profits during your lifetime thus earning the title “an investment”.
An investment is something that promises to give you either capital gain or cash flow or both. Your home on the other hand is taking money from your pocket for maintenance, bills and other expenses.
Having a beautiful home is important but it is important that it is clear when you are investing and when you are consuming.
EHIKIOYA NELSON OSEGHALE
FLG PROPERTY LTD