Ticket to Home Launches Online Lottery to Make Homeownership Accessible – PR.com

Ibadan, Nigeria, October 19, 2024 –(PR.com)– Ticket to Home, a new Ibadan, Nigeria company is introducing an innovative approach to addressing the growing housing affordability crisis. Through a low-cost online lottery platform, the company offers participants a chance to win fully constructed homes by purchasing tickets for just N2,000 (approx $1.25)

This model, which combines technology with community impact, aims to provide a path to homeownership for those who are struggling to afford homes in a market marked by record-high prices. Ticket to Home’s founders say the initiative is designed to remove financial barriers that prevent many Nigerians from owning homes, particularly first-time buyers and families with limited income.

As the affordability of housing continues to be a challenge across Nigeria, Ticket to Home is positioning itself as a potential solution. The online lottery system is transparent, with randomized draws ensuring fairness, according to the company. Drawings will take place at regular intervals, and winners will be announced publicly.

“Our goal is to make homeownership more inclusive, offering people from different economic backgrounds the chance to own a home,” said Abi Fawehinmi- Odusan, the company’s Director. “We’re leveraging the power of technology to break down these barriers, and the lottery format adds an element of excitement to what is otherwise a difficult process for many.”

Ticket to Home will partner with developers to offer homes in desirable locations, ensuring that the homes awarded are ready for immediate move-in. In addition, a portion of the proceeds from each lottery round will be donated to housing-related charities to further support affordable housing initiatives.

While the online lottery system offers a unique method for delivering homes, it raises questions about the long-term sustainability of such efforts to address deeper systemic housing issues. Critics of similar models argue that lotteries may not provide widespread solutions but can be helpful to a small number of people.

Ticket to Home says it is focused on expanding its reach and ensuring that the lottery process is fully transparent and accessible, with the hope of scaling up its efforts as the platform grows.