Rent vs Buy Calculator Nigeria
Compare the true long-term cost of renting versus buying a property in Nigeria and find your break-even year.
Property & Mortgage
= ₦6,250,000
Rental & Growth
How much rent rises each year
Expected annual property value growth
Over 10 Years
Buying is cheaper by
₦21,738,471
Buy vs Rent Comparison
Buying beats renting for me by ₦21,738,471
Buying cost includes down payment, upfront fees (~12%), and mortgage payments minus property appreciation. Past appreciation rates are not a guarantee of future performance.
Rent vs Buy FAQs — Nigeria
Is it generally better to rent or buy in Nigeria?
It depends on your timeline, finances, and goals. Buying builds equity and protects against rising rents, but requires a large upfront investment (down payment, fees) and ties up capital. Renting offers flexibility with lower upfront costs. In Nigeria's high-interest-rate environment, renting can be cheaper in the short term (under 5-7 years), while buying tends to win over longer periods.
What upfront costs should I include for buying a property in Nigeria?
Plan for: down payment (20-30% of purchase price), stamp duty (1.5%), consent fees (2-3% depending on state), legal fees (~1.5%), estate agent commission (5-10%), and registration fees (~0.5%). Total upfront costs are typically 10-15% on top of the down payment.
How does property appreciation affect rent vs buy?
Property values in Nigerian cities have historically appreciated at 5-15% per year in strong growth periods, though this is not guaranteed. Capital appreciation is a major factor in favour of buying, especially in growth corridors like Lekki-Epe Expressway and Abuja's periphery.
What happens to my investment if I rent instead of buying?
If you invest your down payment elsewhere (e.g., treasury bills, equities, or a business), factor in the potential return. In Nigeria, short-term treasury bills have often yielded 10-20% p.a., which can make renting more attractive if your investment returns exceed the cost of ownership.
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