Property investment

Nigeria comprises of 37 states including FCT. And it is important to note that these states are different in so many ways, and could be regarded as best based on economy value, standard of living and varying level of industrialization. For these reasons, if you want to be a successful real estate investor, you need to know which of these state is best for to invest. Because… No matter the type of real estate investment you want to venture into in Nigeria, there is one important factor you must put into consideration for successful investment and that factor is Location. Location play an important role in a successful real estate investment be it residential or commercial real estate, we always want to live and do business in an environment with good road, and social amenities. For these reasons, most people prefer to acquire properties in an existing environment or a location where people are moving to.  As it is the wisdom behind all real estate investment, “look at where the people are going and buy the land before they get there”. For these reason, In this article, we will be looking Top 3 states to invest in real estate in Nigeria 2022 and why you should start investing now. 1. Lagos state When it comes to real estate investment in Nigeria; whether it is residential real estate or commercial real estate, Lagos state tops the list. As the most populous state in Nigeria, Lagos is usually the most preferred destination for investors as there is a high demand for housing. And also the state is known as Nigeria’s economic and financial hub. The city is reputed to be Africa’s 5th largest economy. There are several seaports, airports, companies, factories, world class hotels, embassies, telecoms and banks. It is the nation’s number one investment destination. 2. Abuja Number two on our list Federal capital territory Abuja. Abuja is the only state Nigeria that can match Lagos state in  Wealthy populace, luxurious properties, and to an extent the hustle lifestyle but with so much sanity. Abuja is a beautiful city with world class infrastructures and being the seat of power, there is government presence and attention. Security is also tight. And also the city has good and wide roads that prevents traffic. So if you want to live in a luxurious  city that is free from traffic and have tight security, you should definitely give Abuja a try. Rivers state Number 3 on our list is the state that houses most oil firms in the country( River state). The states capital Port Harcourt is Nigeria 3rd most important city with infrastructures such as seaports, airports, refineries, petrochemical plants, oil servicing firms. Rivers state is the only state in the country that can rival places like Lagos and Abuja in terms of beauty, wealth and structures. If you are looking for the best places in Nigeria to invest in real estate in Nigeria, You should consider the above mentioned three states because of their population, infrastructure, security and standard of living. If you would like to start your real estate investment in Nigeria’s mega city – Lagos state with peace of mind, we will glad to help you get started. Just contact us on +234 814 000 0150, 705 313 1313, Or visit our head office 385 Ikorodu Road, Ojota, Lagos, Nigeria. Source: Be the Realtors

For many owning some sort of real estate is the dream but as with many other aspects of life owning a property in Nigeria can be a real jungle. Buying your dream house is more like planning your wedding day. You meet series of people(houses) till you finally find the one. Then there are months packed with excitement, stress, planning, and then, finally, the big payoff. One of the most significant financial decisions you’ll make in your lifetime is purchasing a house. If you feel you are ready for that decision, it’s impossible to be too prepared, I mean you are about to drop a lot of money. If you’re thinking of becoming a new homeowner in Nigeria, here are a few things you really should know before buying a house. 1. Use a trusted realtor Real estate agents in Nigeria always get a cut from the sales price of the home and that is why some buyers might be a bit hesitant to use a realtor. Using a realtor mean you have a professional whose job is to not only find you a property you are going to like but also protect your interest. A savvy realtor who works for you can protect your interests and guide you through the buying process – from negotiating a price to navigating home inspections. 2. Understand how location relates to value A lot of buyers purchase properties without fully understanding that value of various locations. In Lagos State, for example, major parts of the Lagos Island is more expensive than the parts of the Lagos Mainland. real estate investors need to have a grip on how an area can have a dramatic effect on value. 3. Know how the home buying process works You need to learn everything about buying a home in Nigeria. Ask questions from professionals, know everything about the documents involved in the process. Get a start to finish guide even if you read a lot there are somethings you might not know and don’t be scared to ask questions from a professional. don’t always trust a buyer’s agent, and don’t get emotionally tied up in the process (be prepared to walk away). 4. Think repair cost It is often the case that you’ll have to make a few renovations when you buy a new house. While it is inexpensive to fix cosmetic issues (a bit of paint or some wallpaper) but making changes to kitchens and baths can be expensive. That doesn’t mean that you should give up on a house in need of a significant fix but you should factor in those costs when determining whether you can afford to buy (don’t forget to include labour). 5. Learn about the property you want to buy When you find a home in Nigeria you are interested in buying, you need to learn as much as possible before putting in a down payment. Ask your agent how long the property as being on the market. You can find out if a home is fairly priced for the neighbourhood. Not only the property matters, the neighbourhood is also important. You should research the neighbourhood, crime rates, school quality and the likes. 6. Look out for deal breakers Before house hunting, in Nigeria, you should have your own “must have and want” checklist when buying a home. You should have potential deal breakers like that needs replacing, a home in a high-risk flood zone etc. Besides that, while walking through the home, look past attractive finishes like high-end countertops and look for signs of possible big problems, things like cracks in the foundation or water stains on the ceilings or walls. 7. Don’t just get obsessed with the purchase price The price is just a part of owning a house, you need to consider all of the extra costs that come with being a new homeowner, It is not just home improvements that can cost money, maintenance cost also. You need to total all these costs and be sure you can afford it. 8. Take your time Generally, when shopping for real estate, take your time. It might seem you are  oppressed to make an offer for a home you are interested in relaxing and take your time, enjoy shopping around until you find a home you are sure you’ll be living in for many years to come. You don’t have to buy a home before you are 35 take your time till you can afford what you really need. Source: Property Pro