By Mabel Magbulu
This is question people who are interested in investing in property often asked. My advice is to do their maths before making the leap. In determining where to invest in Lagos or in Nigeria we will need to consider the following key factors:
Let look at the word Location’s and the role it plays in your real estate investment
Location: It is the largest variable in the home/Properties ownership equation..
But why does location matter so much?
The age old punch line “location! Location!! Location!!!.” Still rules and remains the most important factor for profitability in real estate investment. It is almost impossible to move a home or a land. Hence, when you buy a land or a house in a good location, you buy a solid long-term investment.
What exactly makes a good Location?
Proximity to amenities, peaceful conforming areas, neighbourhood status, perception etc. are major factors for residential property valuations; while proximity to markets, warehouses, transport hubs, freeways, tax-exempt areas, etc. play an important role for commercial properties valuations.
It is important to not only consider the current viability of a location but also the future viability.
For example, a N15m land purchased in 2003 in Lekki, would be worth more over N80m today than a N1m Land bought in Mowe at the same time. Price appreciation is the biggest and measurable financial benefit to property investors…
Invest wisely!!!
The opportunities for wealth and prosperity are enormous in Nigeria. The most populous black nation on earth, the propensity for growth is overwhelming.
Unfortunately Nigerians are not good at telling their stories. We complain, wail and murmur. Thinking things will just change if we complain hard enough.
Look my friend. Your complaining won’t help you because you will keep seeing more of what you’re complaining about. You will have to discipline your mind to tell the good side of your story.
To some murmuring and complaining has become a virtue. Don’t let that happen to you. Look on the bright side.
