Our Blog


13 Apr
refinh_admn April 13, 2018 1



Home ownership is a dream for many across the globe but this dream is far becoming elusive for people living on the continent of Africa especially Nigerians for so many reasons. In many societies, home ownership is ranked in the same calibre of life-changing events as graduating from college and marriage. It is therefore not surprising that many people see the dream of having a home to call their own as an unachievable and intimidating task.Due to prevailing economic hardship in the country, lack of access to financing and high-interest rates, many have given up on the possibility of owning their desired home at a young age and have resulted to thinking home ownership is what they will plan towards the end of their working lives. When all is said and done though, whether early in life or as a retirement plan, home ownership provides a number of benefits that not only enhance the quality of life but also improve financial stability for the families involved.

Let’s do the thinking for you


There is a sense of stability, security as well as the freedom that home ownership brings with it. For example, a lot of people feel safer and secure in their own homes compared to living as a tenant because they are not subject to any form of inspections by the landlord and they have the opportunity to increase the security of their home as they desire. Also, we have seen that being able to settle into a home for years increases the chance of living a stable life as this means that they do not have to change jobs, children schools, friends as typical tenants do.


Enjoy the freedom of being in charge


There is also the opportunity to make improvements on the property for home owners which is not open to tenants. Whether it is a cosmetic or functional home improvement, a rental property will require some approval processes between the inhabitants and the landlord but a home owner does not require all the long and arduous arrangements to make improvements based on their preferences. Furthermore, even when tenants are able to make any improvement to the property they occupy they usually do not enjoy any monetary value whereas home owners have the chance of reaping from such an investment.


Another interesting advantage of owning a home is the increase long-term wealth of home owners. Although, there have been fluctuations over the years in the housing market leading to the temporary decreases in the value of houses, what we have seen is that in the long run investing in a property is a valuable financial decision that leads to significant increase in a house market value in years to come.


High return on investment in properties



Along the same lines of increased tax advantages and home equity, home ownership also allows home owners to increase their long term wealth drastically more than those who rent. As seen over the past few years, it is evident that fluctuations in the housing market can temporarily decrease the value of a home, but in the long run, investing in a home is a valuable financial decision leading to a significant increase in home value in the decades to follow. Due to inflation, we will continue to see rent and house prices increase buttressing the logic that home owners will have better net-worth than tenants.


Official statistics as reported by different government and private sector practitioners put housing deficits in Nigeria at over 17 million housing stock. This figure has been bandied around for nearly a decade which means that with an increasing population the housing requirements of the country must have also increased proportionately.


It is becoming increasingly difficult for people to own their homes because there is no mortgage system to support their aspirations and they find it nearly impossible to save enough to afford the kind of properties they will like to live in. This has made many believe that they cannot own homes until towards the end of their working life when many believe that they will then have spare resources to build their own homes on an incremental basis.



Make the right choice today



REFin Homes Limited was established with the aim of bridging the housing gap in Nigeria. Our key focus is providing affordable housing for middle-low income earners without compromising quality thus creating a culture of seamless home ownership and building communities.


We are committed to being a leading influence in the real estate sector of the economy and changing the outlook of the housing industry in Nigeria. The company is made up of diligent and highly skilled professionals who have the capabilities to develop tailor-made housing solutions to suit individual needs for the ultimate customer experience. We aim to provide value for money, products and services, creating affordable and functional housing for our prospective clients

We therefore invite you to follow and partner with us on this quest as we change the housing landscape across the continent.





Welcome to REFin Homes Limited.
Phone no: 01-6327536/7
Email: contactus@refinhomes.com

One Comment

  1. Senaida

    Hi there! Such a great write-up, thanks!


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