When I hear real estate on a norm, the first thing that comes to mind is money i.e the rich, for both the people who invest in it and the realtors. What I was certain about was that you have to be very rich to even think about investing before you even invest. After all, most people in Nigeria that you see or hear that invest in real estate are the very rich and financially free people, isn’t it?
Though I’ve always had interest in investing in landed properties but when I think about it, I think about it as a thing that’ll happen in the not-so-near future. After my research and learning, it turns out that almost all I believed about real estate was wrong.
Real estate is serious business and it isn’t just for the rich and financially free/established! It is for everyone, for me, a young woman in her mid 20s trying to build a career and make impact in the world at large. And trust me, it is for you too and we can start now.
There are lots of interesting facts you should get familiar with when we talk real estate. There’s really nothing bad as a young/old person or layman, to know some interesting facts about real estate that will change your perspective about it.
I believe you’ll have a totally different, refreshing and open-minded outlook to landholdings after going on this journey of real estate facts with me;
Property investment is a long term play and control is key when it comes to real estate.
Research is the first step to making money in real estate. It is possible to invest in landed properties without money.
You don’t need money to consider investing in landholdings. The foundation is becoming bold enough to consider it. Start saving for your first investment right away.
Instead of thinking about personal investment affordability, think collaboration.
Real estate investment in Lagos appreciates more than 100 percent.
27 is the median age of first-time home buyers in Lagos. Even if you do anything else for starters, buy some land.
Lekki property market will generate over 70 percent of Lagos wealth by 2025. Read more on thisdaylive Properties and lands on the mainland are less expensive and appreciates slowly than properties on the Island.
There’s acute shortage of houses for the growing population in Lagos
10. Location and environment of properties in Lagos determine price of properties. Prices of developing areas on the Island are cheaper and appreciates faster than that of developed areas on the Island but even at that, prices of developed and developing places on the mainland appreciates in lesser pace as compared to that of the Island properties
Despite past ugly experiences some people who tried to invest have experienced (whether with the so-called “omo onile” or the law), investment in real property is a sure way to keep living on. When making decision on properties to buy or invest in, it is advisable to employ a certified property consultant (realtor), who knows the laws of landed property and the state to save you from all the hassles and difficulties encountered when trying to buy on your own and also to advise on the best possible investment to embark on with your budget.
The possibilities of investing in immovables are endless if you simply open your mind to the fact that you too, can invest irrespective of your payroll and age. Once that can happen in your mind, it can happen in your life.
I may not be able to afford a land right now but I no longer ignore real estate advertisements and broadcast messages.