4 benefits of buying vacant land
There are a range of great benefits to purchasing vacant land that many people don’t know, whether you are searching for a block of land to build your dream house on or looking to buy land for investment purposes. Vacant land is worth exploring as it is perfect for first home buyers struggling to enter the property market and investors looking to diversify their property portfolios.
So, what makes vacant land so appealing? Here are a few benefits of purchasing vacant land.
1. Affordable: If you are struggling to purchase a property, particularly in major cities such as Lagos, where property prices are some of the highest in the nation, buying vacant land offers you a simpler and more affordable way to enter the market. Compared to land that has already been built on, unused land is much more accessible. One approach is to purchase land today and expand on it later when you have a bigger budget, meaning that in the future you will not be priced out of the real estate market.
2. Greater personalization
A great benefit of buying vacant property is that the land is yours and you can do anything you want with it, as long as it is within the limits of the zoning and construction codes of the state. You can keep it as it is, or you can create a home on your own custom-made property.
3. Low Maintenance
The very low maintenance required, as opposed to holding a property in good condition, is another benefit of buying vacant land. You don’t have to think about maintenance jobs, refurbishments or hiring a plumber. There’s very little else you need to think about, except having to clear the land when you’re ready to build.
4. Long-term appreciation
When purchasing vacant property, one thing to remember is that the land will normally remain in the same state in which you purchased it. The weather and erosion can have an effect, but vacant land appears to appreciate very well over the long term, generally.
If bought properly, then your property could see substantial appreciation. If the land is in a desirable area like Ibeju Lekki, the land could appreciate to over 400% of it’s original price in a few years.
Why not take action now, secure your future and buy land in the fastest growing area in Sub-Saharan Africa.
Contact us NOW to start the process of owning a piece of Lagos at affordable rates!!!