Dr Sid Buys N110 Million House On Mortgage…Pays N1 Million Monthly
May 9, 2014 – Dr Sid Buys N110 Million House On Mortgage…Pays N1 Million Monthly
Few weeks ago, the son of late Nollywood actor Justus Esiri, Dr Sid told fans of his new home acquisition.
In a recent chat wit PUNCH, Dr Sid said he is paying minimum of one million naira mortgage per month.
In his own words:
“I put a mortgage payment plan in place, based on the savings I had made four years before I started a career in music. I am still paying for the house. And by the grace of God, I will get a second one soon.
I pay close to N1m a month and sometimes, more. I am going to do this for the next 25 years and I am not ashamed to say it.”
Dr Sid’s luxury mansion in located in Lekki area of Lagos state Nigeria.
Let’s do the calculation….
The mansion itself costs N110million
Let us assume he is paying 1 million per month
Multiply that by 12 == 12 million per year
Now multiply that by 25 == 300 million.
So in the next 25 years, Dr Sid will pay 190 million more.
This is a very bad idea…..Chei…. Congrats o…..Hmmmm.