The Hidden Cost of Renewing Rent Every Year

When people quote their rent, they quote the headline figure. But renewal carries a stack of hidden costs that rarely make it into the conversation.

The costs nobody adds up

• Agency and agreement fees — often 10% each, paid again every time you move.
• Moving and setup costs — transport, repairs, new fittings.
• Opportunity cost — the equity you would have built if that money were yours.
• Time — days lost to inspections, negotiations and paperwork.

The real price of renting isn't the rent. It's everything attached to it — paid over and over.

Ownership replaces a recurring stack of costs with a one-time transfer of title. RaffleProp goes further: when you win, we cover the legal fees, stamp duty and registration — so the path to the keys carries no hidden bill.

A different way to reach property ownership

RaffleProp runs FCCPC-regulated promotional competitions for real property in Nigeria. Entry starts from ₦2,500, every property is independently valued by an NIESV firm, all funds sit in escrow at a named Nigerian bank, and the winner is selected in a live-streamed, independently witnessed draw.

And your entry value is always protected: if a campaign does not reach its minimum, your full participation value converts to Home Credit you can use on any future campaign. Browse live campaigns, see how it works, or join the waitlist to be first when the next property goes live.

RaffleProp is a promotional competition open to Nigerian residents aged 18 and over. Participation requires passing a skill assessment. Play responsibly.