Copen group company secretary, Barrister Ikechukwu Chime, has shared valuable insights on how individuals can liberate themselves from the tenant status and embrace the role of a landlord. He made this known while speaking as a guest on “Housing Today” a program that educates and exposes opportunities in the housing sector.
Chime expressed his concerns that many people he grew up with in Enugu are still trapped in the cycle of tenancy. He highlighted cases where even their children continue to pay rent for the same apartments their parents once occupied.
He however, commended the efforts of the Copen Group for its educational initiatives aimed at enlightening the public about housing matters.
He emphasized that the primary objective of Copen Group is to construct houses and develop estates that provide comfortable living spaces for individuals.
Furthermore, he revealed that the group actively encourages people to transition from being tenants to becoming landlords themselves.
One notable point Chime highlighted was that inflation has little impact on the development of these areas once individuals have made payments through the mortgage system.
He also pointed out that the funds used to purchase houses often come from contributors, making it a mutually beneficial arrangement.
He went on to encourage individuals to consider that the money spent on rent could instead be invested in owning a property. He posed the question, “If you’re not afraid of paying rent, why be afraid of a mortgage?”
Chime addressed the common aversion to borrowing money to achieve one’s goals, stressing that the mortgage system is a favorable option.
He provided examples of numerous individuals who purchased estates by borrowing as little as five hundred thousand naira, only to witness the value of those properties skyrocket to 15 million naira over time.
This exponential growth serves as a testament to the long-term investment potential offered by the housing market.
He noted that most people who have dreams of building and owning their own houses usually neglect and procrastinate their plans which often results in their own dreams of constructing a home being indefinitely postponed.
He emphasized that individuals can start with modest dwellings and gradually upgrade to larger ones, eventually selling their previous property. Ultimately, the goal is to shift from being a rent-paying tenant to a property-owning landlord.
The introduction of alternative housing solutions such as rent-to-own programs, enables individuals to make regular payments towards a particular house while simultaneously working towards ownership.
The opportunities presented by Copen Group show their commitment towards empowering individuals and facilitating their transition from tenants to landlords offers a beacon of hope for those seeking to break free from the shackles of renting.
With their innovative approaches and educational initiatives, they are revolutionizing the housing landscape and presenting viable paths towards home ownership for all.