For many young Nigerians, owning land is one of those financial goals that keeps getting pushed to later. Typically, this is how our average life goes: first, it is getting a better-paying job, then you start a business. Next, you start sorting out rent, family responsibilities and everything else life brings. And before you realise it, property ownership becomes difficult early enough and it builds the mindset that you should own one until later, let’s your 40s-50s.
However, what if you could start earlier?
That is the thinking behind the Under 40 Landlord Initiative we have created. It is a scheme created for Nigerians between the ages of 24 and 39 who want to take their first step into land ownership without having to pay the entire cost at once.
With over 15 subscribers since we launched, we have put to are some of the frequentyly asked questions most of our clients have asked/been asking:
1. What exactly is the Under 40 Landlord Initiative?
The Under 40 Landlord Initiative is a land ownership programme by Novarick Homes created specifically for young Nigerians aged 24 to 39. The goal is straightforward, and is to help young people begin building property assets earlier rather than waiting until they feel they have “made it.”
The programme is limited to the first 100 participants, who become members of the Under 40 Landlord League and are recognised as founding members of the initiative.
2. Where is the land located?
The plots are located at Ayomide Joy City, Moniya, Ibadan. The estate is positioned as a planned residential community with green areas, infrastructure and space for future development. Its location also places it within proximity to popular landmarks, including:
- University of Ibadan
- Obafemi Awolowo Train Station
- Ibadan Dry Port
- Institute of Tropical Agriculture
- Ilu Tuntun District
For a land investment, location matters because you are not only buying the land itself. You are also buying into the future prospects of the area around it.
3. How much land can I buy?
There are two plot options under the initiative:
300 sqm
- 12-month plan: ₦240,000 monthly
- 24-month plan: ₦150,000 monthly
500 sqm
- 12-month plan: ₦380,000 monthly
- 24-month plan: ₦250,000 monthly
The programme states that pricing is all-inclusive, with no separate documentation surprises. This way, you have the flexibility to choose a plot size and payment period that better fits your current financial situation.
4. Do I have to pay the full amount before I become a landlord?
No. One of the main ideas behind the initiative is to make land ownership possible through structured monthly payments. You can choose between a 12-month or 24-month payment plan.
Once your payment is confirmed, the ownership process begins, while you continue with the agreed monthly instalments until completion.
5. What happens after I make my payment?
After we confirm your payment, you receive a personalised digital Under 40 Landlord Plaque, featuring your name, photo and plot details. At the official Landlord Induction event, participants receive a physical framed plaque as part of their recognition as members of the Under 40 Landlord League.
6. What documents do I get?
The programme provides a Registered Survey Plan and Deed of Assignment as part of the property documentation. These are important documents in a land transaction. A survey helps identify the property’s location, boundaries and dimensions, while a Deed of Assignment is used to document the transfer of interest in the property from the seller to the buyer.
As with any property purchase, buyers should review the specific documentation and terms applicable to their transaction before making payment.
7. Is this only for people who want to build immediately?
Not necessarily. You can approach land ownership from different angles. Some people who could build their homes at Ayomide Joy City. However, we would advise you to buy as an asset and hold for future apreciation, which is one of the major reasons people have been purchasing Ayomide Joy City. Buying land does not automatically mean you have to build immediately.
However, as with every real estate investment, appreciation is not guaranteed. The value of land will depend on factors including location, infrastructure, demand and broader market conditions.
8. Is the initiative actually suitable for me?
To all our landlords, we always ask these three simple questions:
- Can You comfortably commit to the monthly payment?
- Are You looking at land as a long-term asset?
- Do You properly understood what You Are buying?
If the answers make sense for your situation, the Under 40 Landlord Initiative could be a practical starting point for your first property.
9. How do I join?
Getting started is straightforward:
- Register your interest through Novarick Homes.
- Complete the subscription form.
- Choose your plot size: either 300 sqm or 500 sqm.
- Select your payment plan:12 or 24 months.
- Pay the ₦50,000 reservation fee.
- Receive your allocation and programme benefits.
- Continue your monthly payments until completion.
The initiative is limited to the first 100 participants, so availability is tied to the number of spaces remaining.
In Conclusion
According to Mr Yusuf (one of our Under40 Landlords), there is a certain confidence that comes with knowing you have started building something that belongs to you.
The Under40 Landlord was created in a way that you do not need to have everything figured out before taking your first step into property ownership. You just need a realistic plan, a property you understand and a payment commitment you can actually sustain.