Top of the day to you my wonderful readers. I hope you are enjoying the holiday?
Okay! I will start today with hot gossip. One of our prestigious readers (names withheld of course) called in to say that his madam stumbled upon our article on BENEFITS OF REAL ESTATE INVESTMENT IN NIGERIA TODAY, and as a good madam that she is, she has kept him awake for two nights, insisting that they channel some of their savings to investing in real estate. He has brought out his cheque book ready to start writing a big cheque for a real estate investment before he chose to contact us at South and Sttes Properties for a professional real estate investment guidance. We started talking about real estate investment and things to consider before sending out that cheque and he realised that he could have made a huge mistake.
So, if you are like this my reader and you want to make an investment? Hold on a minute! Talk to us and invest through us at South and Sttes Properties, we have the success magic wand when it comes to real estate investment in Nigeria. However, we will still be happy to give you an insight into some factors to consider before investing in real estate.
You need to understand that not every investment in real estate is a good investment. You don’t want to sink your hard earned money into a project that will only yield profit after your second generation has exited the earth and aliens have taken over. Below are some of the things to consider before going ahead.
- Create a Budget: How high or low do you really want to go? Please don’t spend the kids’ school fees on real estate investment and by September when the kids are ready to go back to school you will have a panic attack. According to my 4-year old nephew, ‘Ayam not there ooo’. Have a reasonable budget and agree on what you can spend. In this case, cut your coat according to your fabric not size.
- Location! Location! Location!: In real estate investment, location is everything. You need to put your ears to the ground and know what’s happening everywhere. This will guide your decision on location of investment.
- Housing and Accommodation demand: In predominantly commercial centers, commercial and recreational properties are in high demand and as such, are good investments. Luxury and serviced apartments are highly demanded in Government Reserved Areas (GRA) and high brow areas with low density population, they are also good investment options. The requirements for mini flats, 2 bedroom and 3 bedroom apartments as well as community neighbourhood shops are in very high demand in medium and high density locations.
- Choose the right real estate consultant: A very important step to consider also is the engagement of real estate consultants. Real estate professional advisors are required almost at every stage for sound advice. This is why you should come to us at South and Sttes Properties. We are the best in what we do – Real Estate Investment.
- Be patient and “do not be at a rush”: All interests, titles, ownership, registration and documentation must be easily verifiable. Be patient, “do not be at a rush”, double check every document before you conclude all real estate investment transactions to avoid stories that touch…lol
Real estate investment is a high capital outlay, however, it is a sure and secure investment and its value appreciates with time. There are risks in every investment and real estate is not an exception. If the investment steps are carefully considered and decisions wisely taken, the investors’ streams of income will surely continue to flow.
Thank you for reading and enjoy the rest of your day.