If you don’t know by now, the current real estate climate in Nigeria is hot and has an advantage that few other countries enjoy. The market is not fixed or much regulated with respect to pricing. Oftentimes, you can charge as much as you see fit for a house, piece of land or other property. Now you might think, “That means everyone is going to overcharge for their house”. Well, not necessarily; because most locations have prevailing prices based on what amenities and conveniences are available there and extent of development. However, you should rather think, “This means that if I want to sell, I can place on this house the monetary value that it deserves and is competitively favourable for me”. Remember, as long as it is worth it people will line up to buy it. And if it is not, then they won’t. So, the aim of this article is not just to get you to buy a house. Our aim is getting you to look at the money you stand to make and not the money you will spend in the immediate. Because, believe it or not, real estate is the investment everyone needs.
Real estate is one of those songs that everybody sings. And if you are a great singer of this song, then it is very likely that you are wealthy already. Everyone started somewhere and with their own different reasons, but the result is the same all around: a home, money, increased investment portfolio, etc. Why should you join this group of singers? Because whoever you are, you need one or all of those.
Suze Orman said that owning a home is a keystone (foundation or basis) of wealth. It offers financial affluence and emotional security. There is nothing that gives more surety than owning your own home. To sleep knowing that you don’t have to worry about rent and/or that you can keep this house to your family for generations to come. And the plus side of knowing that with every passing day your home goes up in value. With every new infrastructure or development that gets built in your part of town, you stand to make much more than you bought it for, should you decide to sell. It is an asset that makes itself more valuable just by existing. You don’t have to do much to make people want it. Everyone just does. And because everyone does, when you do decide to sell, someone will buy! And when you decide to buy, you will find a house, home or land that is suited to your needs. It is said that you should never wait to buy real estate, rather you should buy real estate and then wait. All it takes is one good sale at the right time and you can sing along with the rest of them.
Yes, you may have to sacrifice some of your wants. Or you may have to save for a long time. And let’s face it, when it is your hard-earned money, you want to be cautious of how you spend it. There is no other more cautious, lucrative, and, permit me to say, satisfying way to spend your money than investing it in real estate. So, whether you’re a seller or a buyer, there is no better investment than the one that everyone needs: real estate.