Saturday, 21 October 2017

COST ESTIMATING / CONSULTING SERVICE. @ EDU BUILDING PROJECT

EDU. BUILDING PROJECT Consulting  Services

EDU building project consulting services, coupled with our forensic engineering experts, provide clients around the world with a wide range of services.

From traditional cost estimating and scheduling, to Clerk-of-the-Works and total program management, our clients benefit from:

A conclusive assessment of how, why or when something happened

Expertise in identifying the scope of work, repair schedule, and how much it will cost to repair/replace

EDU Building PROJECT Consulting Services include:

Cost Estimating Services- expertise in scope development, cost estimates (Xactimate and RS Means), clerk-of-the-works projects, project control during abatement of damage and upgrade situations, damage evaluation , and bid comparisons/evaluations

Appraisal Services- skilled in commercial and residential appraisal, serving both as the appraiser and umpire as well as providing estimates and contractor support of mediated and arbitrated losses

Water Mitigation Services- expertise with drying processes, and overall project scheduling (duration, calculation of BI).

Construction Dispute Resolution Services- provide dispute resolution services regarding scope and costs, as well as determine repair vs. replacement requirement and assist with contractor/warranty negotiations.

Need Assistance?

  Contact the engineers and experts at  EDU BUILDING PROJECT 07067985359  visit our Blog for more info

https://edubulidingproject.blogspot.com

Saturday, 14 October 2017

LEARN HOW TO LAY BLOCKS HERE


EDU BUILDING PROJECT IS OUT TO TEACH YOU EVERY THING ABOUT BUILDING

 Line your blocks with your line
 Get the level.






LEARN HOW TO LAY BLOCKS

Start mixing as instructed. The first course of blocks should be installed below floor level and inside the foundation trench. This first line of concrete blocks shall rest on top of a layer of mortar mix. Spread mortar along the sides of the block and remove the excess mortar with a trowel.

Repeat until the first course has been installed. Check the course with a level. Then, even it out with a thicker layer of mortar, if it is not. For best result make sure there is a 3/8 inch gap between the blocks. This gap will then become the vertical joint.

Installing the Second Course on a Concrete Block Wall

Repeat the action performed in the previous step to add another course of blocks.

Blocks can be set in such way that will create an interlocking pattern meaning that the ends of one course of blocks sit above the center of the blocks beneath them. Keep installing blocks and try to install no more than six courses per day. Allow the mortar to set completely before continuing to lay concrete blocks. Once the mortar is hard, remove excess mortar and smooth the joints.

LEARN HOW TO LAY BLOCKS HERE


EDU BUILDING PROJECT IS OUT TO TEACH YOU EVERY THING ABOUT BUILDING




LEARN HOW TO LAY BLOCKS

Start mixing as instructed. The first course of blocks should be installed below floor level and inside the foundation trench. This first line of concrete blocks shall rest on top of a layer of mortar mix. Spread mortar along the sides of the block and remove the excess mortar with a trowel.

Repeat until the first course has been installed. Check the course with a level. Then, even it out with a thicker layer of mortar, if it is not. For best result make sure there is a 3/8 inch gap between the blocks. This gap will then become the vertical joint.

Installing the Second Course on a Concrete Block Wall

Repeat the action performed in the previous step to add another course of blocks.

Blocks can be set in such way that will create an interlocking pattern meaning that the ends of one course of blocks sit above the center of the blocks beneath them. Keep installing blocks and try to install no more than six courses per day. Allow the mortar to set completely before continuing to lay concrete blocks. Once the mortar is hard, remove excess mortar and smooth the joints.

Wednesday, 11 October 2017

HOW TO ESTIMATE A BUILDING PROJECT


How to Estimate a Building project / Construction Job



Construction estimates are developed to determine how much it will cost to build a project according to a set of plans. They are completed by architects, general contractors, and developers both during design and before the project is awarded for contract. While some larger companies may use commercial estimating programs or software, most people still complete estimates by hand, or using spreadsheets. Most estimates are broken down using codes, or divisions created by the Construction Specifications Institute (CSI). CSI codes break the job down into sections based on the trades and materials involved. There are 16 major CSI divisions used in a basic estimate, from Division 1(General Conditions) through Division 16 (Electrical Work). Using these divisions helps the estimator organize the job and makes sure that all costs are covered.


...
Step 1
Review the entire set of plans and specifications before you begin. Get a picture of what the job will look like, and make sure to compare the specs to the plans in case of discrepancies. Read the scope of work to determine if there are any special conditions or allowances you need to include.

Step 2

Break the project down by division. Many people like to use the 16 divisions provided by the CSI codes, but other systems may work too. Start with site work, or Division 2 (Masonry), and work your way through each aspect of the job. Do a material take-off for each division to determine square footages and the like. A take-off involves measuring the length, width, and depth of each space to determine total quantities of concrete, brick, drywall, and other materials that will be required to complete the job.

Step 3

Determine what materials you will need to complete the job, including equipment rentals and any required tools or supplies. Always give yourself a buffer zone when it comes to materials. For instance, if you calculate that you will need 5,000 square feet of drywall to complete the job, include enough money in your price to cover 5,500 square feet, just in case.

Step 4

Calculate labor required to complete the project. This should be done by division, but should also include laborers, cleanup, and management or supervisory hours.

Step 5

Include costs included under general project conditions. This includes temporary office space, communications, insurance, administrative tasks, and other related expenses. These costs, categorized under the CSI system as Division 1, include all expenses required during the construction process that are not specifically related to materials or labor.

Step 6

Provide an allowance for any items you may encounter that are not defined clearly. This could include excavation, unspecified finishes, furnishings, or equipment. Specify in your bid that you have included these allowances, or list them as alternates for the owner to review.

Step 7

Add all your estimated prices together, then add a percentage for overhead and profit. This number will vary depending on the size of the project and how competitive the bidding process is.

Monday, 9 October 2017

SEE HOW YOU CAN GET A GOOD BUILDER OR ENGINEER


 

Finding a good builder







To find a suitable builder, you should:



  • ask family or friends for a recommendation if they had building work done recently.


  • contact a local builders' association for a list of registered members
  • ask two or three builders for estimates in writing, and ask them if you need planning permission for the work
  • ask each builder for two or three references from previous customers - and contact these people and find out how happy they were with the work and the builder's conduct (if possible go and view some of the work)
  • make sure the builder belongs to a respected trade organisation with membership standards
  • check the builder has current membership and has the required health and safety training
  • have a written agreement or contract with the builder, outlining the work to be done, finish date, security and safety, catering and lavatory arrangements, disposal of waste materials, working hours
  • ask to see the builder's public liability insurance certificate
  • contact your insurance company as the building work may affect your home and contents insurance

Deposits and payment

You should only pay a deposit if:
  • the work needs specific or custom-made material
  • the work will take a long time to finish
If you're paying in stages, it is important to agree a written payment schedule.

Builder doesn't charge VAT 

If the builder offers you a VAT free deal, one of two explanations apply:
  • the builder isn't registered for VAT because they do less than £85,000 of business a year
  • they're avoiding paying VAT
You need to decide if:
  • the builder is equipped to finish your work in the agreed time
  • the builder will be in business if the work needs repair
  • you have a valid contract when there is no proof of payment

Trustmark scheme

The scheme:
  • makes sure traders who sign up are qualified to do building work
  • has a complaints procedure
Looking for a good builder pls contact EDU. BUILDING PROJECT ON +2347067985359 EMAIL MICHAEL.WOWHOR@YAHOO.COM 

Saturday, 7 October 2017

What Is a Soil Engineer? The job of a soil engineer is to analyze the soil structure of a proposed building or construction site and to understand problems of existing structures due to conditions of the ground underneath them. To learn more about the field of soil engineering, as well as the education and licensing required, read on. Schools offering Environmental Science degrees can also be found in these popular choices. Career Overview A soil engineer, also known as a soils engineer or a geotechnical engineer, is a civil engineer who specializes in evaluating the characteristics of the ground upon which a structure is built. A soil engineer investigates and analyzes a site for such qualities as soil characteristics, composition, and drainage. Soil engineers also consider the weight-bearing capacity of the ground under a building's foundation. They evaluate the likelihood that the building will settle or shift over time. Important Facts About Soil Engineers Required Education Bachelor's Degree Median Salary (2014) $83,360 per year Job Outlook (2014-2024) 12% growth Similar Occupations Civil Engineer, Environmental Scientist, Natural Sciences Manager Source: U.S. Bureau of Labor Statistics Work Environment Soil engineers' calculations are necessary both for designing a foundation for a structure and for designing the structure itself. Soil engineers take borings and soil samples and investigate soil composition and grade, among other factors. This analysis is needed not only for buildings but also for bridges, levees, roads, and reservoirs. A soil engineer's consultation may be sought when retrofitting an existing structure. Education and Licensing Soil engineers must be licensed by the state in which they work. Countries outside the U.S. have their own licensing requirements for soil engineers. Soil engineers must first obtain a civil engineering license. Some states, such as California, require an additional license in geotechnical engineering for soil engineers. A civil engineering license usually requires the following background: Future soil engineers earn a bachelor's degree in civil engineering from an ABET-accredited college or university. Many civil engineers obtain advanced degrees. Near or after graduation, the engineering student passes the Fundamentals of Engineering exam offered by the National Council of Examiners for Engineering and Surveying (NCEES). The young engineer then performs appropriate work experience supervised by licensed engineers. The length of experience required may vary from state to state. By passing the NCEES exam in Principles and Practice of Engineering, the engineer becomes qualified to hold a civil engineering license.

SEE THE FIRST THING TO DO BEFORE STARTING YOUR OWN BUILDING



Good Soil and Erosion control is the fist thing to look into before starting a building. You cannot do it on your own get an engineer to help you or you contract Edu. Building project today. 

Investigation of soil conditions and their contribution to claimed damages requires an experienced civil engineer with geotechnical and structural engineering experience. Many factors can contribute to a soil failure and the soil failure is normally tied to a resulting structural failure. Investigation of soils claims will likely include some form of soils testing.
Items investigated during a soils related structural claim include:
  • *What is the history of the site?
  • *Is the site prone to subsurface mobility and/or sink holes?
  • *Is the soil condition a result of subsurface problematic soils? 
  • *Did the soil condition contribute to the overall failure of the structure (as applicable)?
  • *Has the bearing capacity of the soil been exceeded?
  • *Was the failure a result of inadequate soil compaction during construction?
Envista's team of geo technical engineers, geologists and structural engineers will assess soil failures and takes steps necessary to determine the underlying cause and the relation to structure damage. These results are explained to you and your clients in a clear and concise manner.

Need Assistance? Email edu building project @ michael.wowhor@yahoo.com

SEE THE MINE MINING OF STRUCTURAL ENGINEERING AND AMAZING WORK


The amazing work of engineering work.

Structural engineering is mainly a sub-division of civil engineering in which structural  engineers  are trained to understand, predict, and calculate the stability, strength and rigidity of built structures for building  and  nonbuilding  structures to  develop designs and integrate their design with that of other designers, and to supervise construction of projects on site. They can also be involved in the design of machinery, medical equipment, and vehicles where structural integrity affects functioning and safety.








Structural engineering theory is based upon applied _ physical_ laws and  empirical knowledge of the structural performance of different materials and geometries. Structural engineering design utilizes a number of relatively simple structural elements  to build. Structural engineers are responsible for making creative and efficient use of funds, structural elements and materials to achieve these goals.

 *Structural engineer (professional)* 



Structural engineers are responsible for engineering design and structural analysis. 

Entry-level structural engineers may design the individual structural elements of a structure, for example the Beam (structure beams, columns, and floors of a building. 

More experienced engineers may be responsible for the structural design and integrity of an entire system, such as a building.

Structural engineers often specialize in particular fields, such as bridge engineering, building engineering, pipeline engineering, industrial structures, Cold form steel structures or special mechanical structures such as vehicles, ships or aircraft.

Structural engineering has existed since humans first started to construct their own structures. It became a more defined and formalized profession with the emergence of the architecture as distinct profession from the engineering during the industrial revolution in the late 19th century. Until then, the architect and the structural engineer were usually one and the same thing - the master builder. Only with the development of specialized knowledge of structural theories that emerged during the 19th and early 20th centuries, did the professional structural engineers come into existence.

The role of a structural engineer today involves a significant understanding of both static and dynamic loading, and the structures that are available to resist them. The complexity of modern structures often requires a great deal of creativity from the engineer in order to ensure the structures support and resist the loads they are subjected to. 

A structural engineer will typically have a four or five year undergraduate degree, followed by a minimum of three years of professional practice before being considered fully qualified. Structural engineers are licensed or accredited by different learned societies and regulatory bodies around the world (for example, the Institution of Structural Engineers in the UK). Depending on the degree course they have studied and/or the jurisdiction they are seeking licensure in, they may be accredited (or licensed) as just structural engineers, or as civil engineers, or as both civil and structural engineers. Another international organisation is IABSE(International Association for Bridge and Structural Engineering).
The aim of that association is to exchange knowledge and to advance the practice of structural engineering worldwide in the service of the profession and society.

Friday, 6 October 2017

MANY REASON WHY BUILDINGS COLLAPSES IN NIGERIA



MANY WAYS WHY BUILDINGS COLLAPSES IN NIGERIA 

July 20, 2016






Building collapse in Nigeria has been on the increase in recent times. There are frequent media reports of collapsed buildings in major Nigerian cities and other parts of the world. The reasons a building collapses can be due to poor structural design, poor compliance with specifications, poor quality control, faulty construction methodology, foundation failure, and corruption.  Natural disaster is also identified as a cause of building collapse.

There have been several recent cases of building collapse in Nigeria, a few of which, as reported, are as follows;



The Synagogue building collapse: A six‐storey building under construction belonging to Synagogue Church of All nations collapsed in Lagos on September 12, 2014 with reports of over 100 deaths and over 100 injured.





Jos school building collapse: On a Sunday evening in September 2013, a school building belonging to Abu Naima Primary and Secondary School in Bukuru, Jos South Local Government Area collapsed. About 30 pupils below the age of ten were reportedly killed in the ugly incident





Building collapse in Ebute Metta, Lagos: A 4-storey building, popularly called “Titanic”, collapsed in July 2006, with reports of over 28 fatalities






According to various studies carried out to date, the following are the structural engineering design and construction related reasons for building collapse as listed by building professionals in Nigeria:Buildings, like all other structures, are designed to support loads and to resist external forces without excessive deformation. These loads are the weights of people and objects, weight of rain and wind pressure; all generally referred to as live loads and the weight of the buildings themselves; generally referred to as DEAD LOADS. All these loads must be incorporated into the structural design such that the building can hold up these loads during its life time. The Design Life for structures is typically fifty (50) years.


pool  Structural Design

These are not only errors of computation, but a failure to take into account the loads the structure will support, erroneous theories, reliance on inaccurate data, ignorance of the effects of repeated or impulsive stresses, and improper choice of materials or misunderstanding of their properties. The engineer is responsible for these failures, which are created at the design stage. At MO&A, before the structural design is concluded, there are different stages of Quality Assurance and Quality Control QA/QC reviews through the Concept/Preliminary Design stage, the Design Development stage, and the Construction Documentation stage. Peer reviews of the design are dutifully and diligently conducted, and a formal sign-off is generated at the completion of each gate review.

Poor compliance with engineering drawings and specifications – When structural drawings and specifications are not judiciously followed during construction, it is detrimental to the life of the structure. To avert the threat of collapse, it is important that the engineer produces explicit, clearly documented and easy to understand details of drawings which should also be made promptly available to the contractor whenever needed.Use of sub‐standard building material – In order to avoid the use of substandard material, samples of materials to be used for construction should be subjected to all the compliance tests, viz chemical, strength, composition, etc., to ascertain the integrity of the materials. For example, aggregates to be used for construction should be checked for contaminants like chloride and other impurities. To prevent retardation of compressive strength of concrete, no material with chloride should be used. Also, steel reinforcement should be tested for compliance with standards regarding its tensile strength and ductility.Inadequate supervision of construction work & poor quality control – The supervision phase is very important because the life of the building depends on it. The placing of concrete, the vibration of concrete, the fixing of reinforcement, the concrete cover provision, workability of concrete etc. are all checked to be sure that they conform with the specifications in the drawings. In practice, MO&A consistently provides thorough and adequate supervision of the activities of the contractor regarding any construction work. The supervising engineer ensures that the contractor works in line with the specifications of the construction drawings and clarifies to make sure there is no misunderstanding or miscommunication about the drawing or any aspect of their work.

Illegal conversion/alteration/addition to existing structure 

– The illegal conversion of an existing structure for uses other than the original design intention and use. For example, a building that was originally designed to bear three floors and later converted to bear two additional floors, without consulting a structural engineer, may collapse due to overload and consequent over stress of the foundation. The foundation may have been designed to bear only three floors without taking future expansion into consideration. It is pertinent to note that it is the duty of the Structural Engineer to certify the structural integrity of a structure, especially when it comes to changing its use.

Corruption – Sometimes drawings and specifications are not effectively or adequately reviewed by authorizing officers in the chain of approval grants. Corrupt practices tend to be one of the undermining factors in such regard.

Natural disaster

 – In Nigeria, the most common natural events are heavy winds, rain storms, floods, earth tremors, etc. Unanticipated impact loading from these different causes, and the erosion from flooding have been recorded as contributory natural causes.

Poor construction

 – This arises when contractors fail to carry out work in accordance with the Consultants’ specifications. It is commonly believed that they do so to further maximize profit, with often fatal consequences. Sometimes specified materials are substituted with sub-substandard ones. Other areas of concern include poor concrete mixes, premature removal of formworks and general poor workmanship.

Poor Maintenance – Buildings begin to deteriorate from the time they are completed and need timely maintenance to remain in good condition. A process of gradual deterioration is unavoidable, but the speed at which it progresses can be reduced through proper and timely maintenance.
Poor building maintenance can cause weakening of the building structure.

Lack of genuine geotechnical information about the underlying soil – A reputable Geotechnical expert should be consulted when a soil test is needed. This is because the structural engineer will solely rely on this result to design the suitable foundation based on the recommendation of the geotechnical engineer. Even an excellently designed and constructed structure will not stand on a faulty foundation. Although the structure may bear the loads, the earth beneath may not. The displacement due to faulty foundations may alter the stress distribution significantly.

In order to avoid the collapse of buildings in Nigeria, the following, as part of a larger scope, is recommended:

Proper planning, supervision and monitoring of construction activities should be institutionalized by policy makers to ensure that all buildings are constructed according to design, specifications and planning regulations.Urban or Town development agencies at various levels of government (commission, Board, Authority) should enforce control of building works in their localities as laid down in urban and regional planning decree 88, of 1992 and as in section 13 of National Building Code 2006.Periodic public awareness campaigns through electronic and print media to educate the public on the advantages of using qualified professionals as the only way to achieving the goal of having safe buildings in our neighbourhoods.Standard organization of Nigeria (SON) should be vigilant to ensure that building materials imported into the country meet standard requirements.All building professionals should fulfil their respective obligations during building construction.Soil investigation, material tests and environmental impact assessment (E.I.A) should be made mandatory for all institutional, industrial and commercial buildings.A review of existing building laws to guide standard codes of practice and cover all grey areas in order to guarantee safety of buildings and people in our country.

Although there are parts to play by various sectors involved with building construction in Nigeria, the key ingredient is the need for more effective government regulation of the industry. Engineers playing their roles, as is being done, can certainly not be enough to stem or arrest the tide of incessant collapse in the Country. If only governments can grant a similar level of empowerment as obtains in the banking and pharmaceutical industries, and the Oil and Gas Sector, to the building and construction industry, the Country will be so much better for it and the wave of collapses will blow away, or reduce to insignificance.

Edu building project. designs and plans we use the right material for the right work. Call us on 07067985359 we give you the best building work in around the world.  
STRUCTURAL INTEGRITY AND FAILURE
 is an aspect of engineering which deals with the ability of a structure to support a designed load (weight, force, etc...) without breaking, and includes the study of past structural failures in order to prevent failures in future designs.
Structural integrity is the ability of an item—either a structural component or a structure consisting of many components—to hold together under a load, including its own weight, without breaking or deforming excessively. It assures that the construction will perform its designed function during reasonable use, for as long as its intended life span. Items are constructed with structural integrity to prevent catastrophic failure, which can result in injuries, severe damage, death, and/or monetary losses.
Structural failure refers to the loss of structural integrity, or the loss of load -carrying capacity in either a structural component, or the structure itself. Structural failure is initiated when a material is stressed beyond its strengthlimit, causing fracture or excessive deformations; one limit state that must be accounted for in structural design is ultimate failure strength. In a well- designed system, a localized failure should not cause immediate or even progressive collapse of the entire structure.

_INTRODUCTION_

Structural integrity is the ability of a structure to withstand its intended loading without failing due to fracture, deformation, or fatigue. It is a concept often used in engineering to produce items that will serve their designed purposes and remain functional for a desired service life
To construct an item with structural integrity, an engineer must first consider a material’s mechanical properties, such as  toughness, strength, weight,  hardness,  and elasticity, and then determine the size and shape necessary for the material to withstand the desired load for a long life. Since members can neither break nor bend excessively, they must be both stiff and tough. A very stiff material may resist bending, but unless it is sufficiently tough, it may have to be very large to support a load without breaking. On the other hand, a highly elastic material will bend under a load even if its high toughness prevents fracture.
Furthermore, each component’s integrity must correspond to its individual application in any load-bearing structure. Bridge supports need a high yield strength, whereas the bolts that hold them need good shear and tens ile strength  Springs need good elasticity, but lathe tooling needs high rigidity. In addition, the entire structure must be able to support its load without its weakest links failing, as this can put more stress on other structural elements and lead to cascading failures


_HISTORY_


The need to build structures with integrity goes back as far as recorded history. Houses needed to be able to support their own weight, plus the weight of the inhabitants. Castles needed to be fortified to withstand assaults from invaders. Tools needed to be strong and tough enough to do their jobs. However, the science of  fracture mechanics  as it exists today was not developed until the 1920s, when Alan Arnold Griffith  studied the  brittle fracture  of glass.
Starting in the 1940s, the infamous failures of several new technologies made a more scientific method for analyzing structural failures necessary. During World War II, over 200 welded-steel ships broke in half due to brittle fracture, caused by stresses created from the welding process, temperature changes, and by the  stress concentration  at the square corners of the bulkheads. In the 1950s, several De Havilland Comets  exploded in mid-flight due to stress concentrations at the corners of their squared windows, which caused cracks to form and the pressurized cabins to explode. Boiler explosions, caused by failures in pressurized boiler tanks, were another common problem during this era, and caused severe damage. The growing sizes of bridges and buildings led to even greater catastrophes and loss of life. This need to build constructions with structural integrity led to great advances in the fields of material sciences and fracture mechanics.


_TYPES OF FAILURE_

Structural failure can occur from many types of problems, most of which are unique to different industries and structural types. However, most can be traced to one of five main causes.

The first is that the structure is not strong and tough enough to support the load, due to either its size, shape, or choice of material. If the structure or component is not strong enough, catastrophic failure can occur when the structure is stressed beyond its critical stress level.The second type of failure is from fatigue or corrosion, caused by instability in the structure’s geometry, design or material properties. These failures usually begin when cracks form at stress points, such as squared corners or bolt holes too close to the material's edge. These cracks grow as the material is repeatedly stressed and unloaded (cyclic loading), eventually reaching a critical length and causing the structure to suddenly fail under normal loading conditions.The third type of failure is caused by manufacturing errors, including improper selection of materials, incorrect sizing, improper heat treating, failing to adhere to the design, or shoddy workmanship. This type of failure can occur at any time and is usually unpredictable.The fourth type of failure is from the use of defective materials. This type of failure is also unpredictable, since the material may have been improperly manufactured or damaged from prior use.The fifth cause of failure is from lack of consideration of unexpected problems. This type of failure can be caused by events such as vandalism, sabotage, or natural disasters. It can also occur if those who use and maintain the construction are not properly trained and overstress the structure.

Wednesday, 4 October 2017

9 BENEFITS OF OWN YOUR OWN HOME

To own your house is the dream of every individual. Until you get yours your maid will never be at rest. I will show you in this great blog post of mine the benefits of being a home owner. Enjoy your reading.

GENERAL ADMIN:
Homeownership is a rite of passage many of us dream of. Owning a home means putting down roots and having a space that is truly yours. It’s a significant moment of your life when you finally own a home.

But owning a home can be daunting because of the responsibilities and obligations that come with it, combined with the initial process it takes to get there. When done properly, though, buying and owning a home is a process that limits your financial risk, increases your investment power, and saves you tons of money over the long term—and it can even save you money immediately.

Renting has little to no ROI. Renters don’t have to worry about maintaining a residence or paying the mortgage. But if you’ve been renting long term, chances are you’re already performing home maintenance on some level and you’re at your landlord’s mercy when it comes to major repairs. And when it comes to paying the mortgage, there are many advantages over rental payments, which don’t provide any return on investment beyond securing a place to live through the end of the month or lease.

How much is rent actually costing you?Consider the amount one pays over a 10-year period. A $1000/month rental payment adds up quickly to a whopping $120,000 over 10 years, when the same amount of money could have gone toward reducing 1/3 of the debt on a 30-year home  mortgage  by essentially making the payments to yourself instead of a landlord. Wow!

Here are 9 more benefits to owning your own home:

1. Homeownership is an investment. Unlike a car and many other purchases that decrease in value, a home is a purchase that appreciates over time. While each local market has its own unique factors, the national median home price goes up each year, even in times of recession. As you pay your mortgage each month, your debt amount goes down, while the value of your home continues to rise. This creates the buying and reinvestment power better known as equity.

2. Gain equity. When it comes to homeownership, investment and equity are directly related. As you make mortgage payments each month, part of the payment goes toward the interest, while the rest pays down the principal balance. Equity can be better defined as the part of the principal balance you’ve already paid, or the percentage of your home you already own. Paying the principal is like depositing money in the bank, because that money becomes available for reinvestment in the home itself or a new home.

3. Take advantage of tax benefits. The federal government encourages homeownership (which in turn encourages economic growth) by offering tax incentives for homeowners. The biggest one is the option to deduct interest from mortgage payments on your income tax return, especially at the start of a mortgage when most of the payment is applied to the interest. Payments on private mortgage insurance (PMI) and certain home-related purchases also qualify for tax benefits.

4. Stabilize your housing costs. A fixed-rate mortgage  means you’ll have the same mortgage payment for the term of the loan (usually 30 years), while monthly rental payments will continue to climb. And even adjustable-rate mortgages (ARM) have a fixed cap on them. Homeownership also stabilizes other home-related expenses like utilities and gives you more control over your ability to make investments in your property that keep those expenses down.

5. Gain control over your living space. Renting doesn’t usually come with a lot of options for modifying your living space to better suit your needs. Renters with changing needs must also deal with changing residences. Homeownership means you can make improvements to your home, and home improvements usually lead to increased home value, both financially and in daily home life. The power of equity can give homeowners the extra financing they need to reinvest in their homes when cash funds aren’t an option.

6. Increase your own sustainability.
Homeownership can help you create a sustainable future in many different ways. Long-term renters lack sustainability because a high percentage of their income usuall

y goes toward housing expenses that are constantly increasing. Locking yourself into a mortgage payment helps level out living expenses, so when income goes up it can be budgeted elsewhere. Paying off a mortgage allows homeowners a long-term plan to significantly reduce their living expenses as they move toward a retirement budget.

7. Stop moving. Homeownership increases sustainability and stability. Moving from rental to rental is a major inconvenience and a financial and emotional burden. Renting can mean that you never really know where you’ll be living next or what your expenses will be. Staying in the same home allows a financial and emotional investment in both your living space and your community.

8. Social benefits. Staying put for longer periods of time also creates social benefits that range from friendships with neighbors to community involvement and consistent educational opportunities for children.

9. Use your investment to make another investment. The equity that comes from paying a mortgage is what allows many individuals and families to make future investments in the same home, a higher-valued home, or second home. A home equity line of credit helps homeowners use the part of their home that’s already paid off to obtain financing for investments apart from the home itself, such as purchasing a boat or RV.

Homeownership comes with a bevy of benefits; these are only a handful. What other benefits have you experienced with homeownership? What makes you want to own your own home?

ADVANTAGES OF HOMEOWNERSHIP


Is owning a home right for you?

ADVANTAGES OF OWNING A HOUSE 
BY EDU BUILDING PROJECT  MICHAEL CHINEDU A. WOWHOR 

Becoming a homeowner comes with a lot of responsibility, but also a lot of rewards. To help you decide if owning a home makes the most sense for you, here are some of the main reasons people choose homeownership over renting.




1.
It’s a Good Investment

While home prices move in cycles over the short-term, if you stay in your home for a long time, it could increase in value and give you a substantial return on your investment.

If you are currently renting a home or apartment, use our Rent or buy calculator  to help determine which option provides the most economic benefits for you over the time you plan to be in your residence. When using the calculator, be sure to include some assumption about future increases in your rent, as most landlords periodically raise rents.

2.
You Build Equity

When you subtract the amount you owe on your home loan from the total value of your house, the amount left over is your home equity-the “dollar or Naira” value of your home that actually belongs to you. There are two ways to build equity:

With each monthly mortgage payment you make, a portion goes toward reducing the amount you owe on your loan, which increases your equity. In a sense, paying your mortgage is a form of savings, as it increases the equity in your home.As your home increases in the value, it creates more equity for you

In a sense, paying your mortgage is a form of savings, since it increases your home equity which you can tap into if you need money in the future.

When necessary, you can borrow against your home equity to meet a variety of financial needs, including home improvements, education or medical expenses. A home equity loan or line of credit can also be used to pay off high interest credit card debt, since the interest rate is generally lower and the interest payments are tax deductible.

3.
You Enjoy Significant Tax Deductions

Owning a home can reduce the amount you pay in income taxes each year. Your mortgage interest and property tax payments may be deductible from your federal taxes, as well as many state taxes. Certain closing costs and loan discount points also may be tax deductible1. In the early years of your mortgage, when interest represents the bulk of your monthly mortgage payment, these tax deductions can put a significant amount of money back in your pocket.

4.
You Build a Strong Credit History

When you buy a home and consistently make your monthly loan payments on time, it demonstrates to other lenders that you are a good borrower and the risk of you defaulting on a loan is low. This strong credit history will be helpful in the future when you need other loans for buying a car, making improvements to your home, or paying other major expenses.

5.
You’re Free to Create the Home You Want

Homeownership offers tremendous freedom to create the living environment that you have always wanted. You can own pets, paint rooms whatever color you like, make changes to floors and carpeting and do all the things that make a house your home – all without having to get approval from a landlord.

There is a great joy in receiving your house 🏡 key 🔑 from a builder


The right time to start is now!

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HOW TO BUILD YOUR OWN HOUSE

The best way to build your own house

How to Build Your Own Home in Nigeria

The reason building a new home can initially seem so complicated is because there are so many details that you have to put together. Here are the things you will need.

StepsEdit

  1. 1
    Buy land if you don't already own some. You will need to either pay cash for the land, get a land loan from a bank, buy land from the seller with owner financing, or find a seller willing to wait for you to get house plans and a building permit and a realtor willing to wait months for their commission (highly unlikely). Buying the land with a land loan first allows you to take the land off the market so others cannot buy it before you do. It also allows you plenty of time to pick out house plans, submit the plans to the county for approval and obtain a building permit all while obtaining the best construction loan. Construction loans can include the land into the construction loan only if you already own the land with a land balance to add into the construction loan.
  2. 2
    Select a Home Building Project Plan to determine the necessary steps to complete the building process. Though it may need to be customized to your particular state or county, this should assist you greatly.

  3. 3
    Pick out a house plan or hire an architect. There are some great house plan resources on the internet. Just go to Google and type in "house plans" or "architect" for your local area and you will have more sources than you can handle. If you go with a stock house plan from the internet, you will still probably need to make some modifications for your local building codes and building practices. To do this, you will probably want to hire a local architect. Once you pick out a house plan that fits your needs and expected budget, simply buy a few sets and start getting estimated bids from builders.
  4. 4
    There are many builders that offer pre-engineered floor plans and house elevations for their neighborhoods ready to build. If you are looking to build in a development, check with the development's sales office for details. Contact edu. Building project on 07067985359. Email address michaelwowhor@gmail.com
  5. 5
    Decide whether to hire a builder or be an owner-builder. The goal of being an owner builder is mainly to save money. Some people can save quite a bit of money if done correctly. However, some people are not meant to be owner-builders, as it takes a strong personality to manage contractors. Possible problems when acting as owner builder:
    • Construction cost overruns
    • The best banks with the best rates require a builder or supervisor
    • Managing contractors to finish on time or to show up for work
    • Depleting your personal savings
    • The need to borrow more money
    • Loan extension penalties
    • Being taken by unscrupulous contractors
    • The need to refinance your construction loan
    • Foreclosure
  6. 6
    If you have never built a home before and absolutely need to act as owner-builder, hire a reputable builder to supervise you and the building of your new home, for a much smaller fee than their normal fee. The builder/supervisor will help you with the cost breakdown and manage the subcontracting on an as needed basis. If one of your contractors gets out of hand or you need help of any kind, you can call the supervisor for assistance. The builder/supervisor can also help when technical inspector issues come up.# If you decide on hiring a builder to do everything, make sure you hire a reputable builder or supervisor with a good reputation and plenty of references. Ask your friends if they know of good builders, and when you start to hear the same name over and over you know you've found a good one. Ask the building inspector for a list of reputable builders. The most important point is shop around until you find a builder with the most reputable and honest background. Be sure to find a builder that has been in business for a minimum of three to five years in your particular location.
  7. 7
    Know what goes into the Estimated Cost Breakdown of your home. This is the breakdown of each particular cost of construction of the home. The foundation, lumber, framing, plumbing, heating, electrical, painting, and builder's profit, etc. The builder usually completes this form to show you exactly what it will cost to build your new home. The most important thing to remember here is that you do not want to underbid any line item and you do not want to overbid any line item. You want accurate numbers from real bids (not guesses) and a 5% contingency for cost overruns
    • Good builders will send out the house plans to their contractors for specific bidding on each main item or can estimate the home themselves. The builder will send one set of plans to the foundation contractor, one set of plans to the framer, one set of plans to the plumber, etc, etc. When all the numbers come in, the builder will fill out the cost breakdown and come up with a total cost to build your new home.
  8. 8
    Some builders offer Turn-Key pricing that give you all of the building costs up front with a guaranteed delivery date. Be certain to check in on the progress of these builders to be sure you are getting quality work with few corner-cutting measures.
    • Bad builders will use the WAG method of estimating the cost of building your new home. The WAG method stands for "Wild Ass Guesses". This method is the most dangerous since it can lead to under and over bidding.
    • The last method of bidding is simply to overinflate every single line item on the cost breakdown. This is the most profitable method for the builder and the most expensive to the customer. This is why you want to find an honest, reputable builder with a good reputation in your community. Once the cost breakdown is completed and you plan on hiring this builder to build you new home you will need to type up a contract. The contract needs to equal the added total of the cost breakdown.
  9. 9
    Read the contract carefully.' There are two types of contracts:
    • Fixed Contract: This contract is simple and straightforward. Take the total of the cost breakdown and put that fixed number into the contract. The builder will provide a list of responsibilities.
    • Cost plus Contract. This type of contract is usually for large construction loan projects. The customer wants to make a lot of changes to their home as it's being built. The construction loan period to build the home is 18 months so construction costs can change drastically. The builder prefers this contract to protect the costs and profits.
  10. 10
    Know how your builder gets paid. There are two methods that banks use to make sure your builder gets paid while building your home.
    • The Voucher Reimbursement system has been around for quite a while. As usual, you'll have some builders that are very familiar with this method of payment and do not like change. Most banks find that the voucher system is simply too much paperwork to deal with anymore. The builder is given a big book of vouchers that looks like a checkbook and when they want to get paid or need to pay a contractor they need to fill out a voucher form. This voucher form is a request for payment and as long as the contractor has signed the lien release, the bank will pay the amount requested. The bank will also request an inspection throughout the construction loan to make sure that the work is completed.
    • The Draw Reimbursement system is becoming the standard for construction loan funding for most banks. The main difference is that the bank puts the accounting responsibility on you or your contractor. The bank uses your cost breakdown as the guide for the draws. Some banks use specific schedules of 4 to 7 draws based on completed construction milestones, such as foundation or framing. The draw systems also allow the choice of taking draws on a monthly basis, collecting partial payment for work and material items that have been completed.

  11. 11
    Get construction insurance.There are three types of insurance needed to build. All banks require the first two insurances, course of construction and general liability. Workman's compensation is only required if your builder has employees.
    • Course of Construction Insurance. This policy is an all risk policy to include, fire, extended coverage, builder's risk, replacement cost, vandalism and malicious mischief insurance coverage.
    • General Liability Insurance. You or your builder can provide this policy. This policy is a comprehensive general policy or a broad form liability endorsement. The minimum amount of $300,000 for each occurrence is required. If the builder provides the insurance a general policy of $1,000,000 or a broad form liability endorsement is required.
    • Workman's Compensation Insurance. If your builder owns his own company and has employees that are helping to build your home, workman's compensation is required. If the builder simply subcontracts out the work and does not have employees per se, they will need to write a letter acknowledging that they do not have employees and are not required to have WCI.
      • If your builder tells you he is not required to provide any insurance whatsoever, he is most likely correct because it is not a law to have insurance to build a house. This requirement is set forth by the bank. So make sure you hire a reputable builder with insurance, it will help your construction loan close much faster. Ask your builder upfront if they have general liability insurance. If they do not ask if they have a problem providing the insurance. Some builder's cannot afford or simply do not want to pay for the insurance and then guess who has to provide it, yes, you do. You can save yourself a lot of headaches and money if you work with a builder that has insurance.
      • For more information please contact edu.  Building project on 07067985359 michael.wowhor@yahoo.com  edu. Building We are Creative Young Minds that gives you all you want in building.