The most important factors that influence an investor’s decision to purchase a home
It seems that every time we talk about real estate today the conversation immediately goes to the financial aspects. Where are prices headed? Where are interest rates? Should I wait to try and get a ‘better buy’? Should I wait until I can get a ‘steal’?
The odd thing about all these questions is that research keeps telling us that price is not the reason people buy a home. When money is even considered at all, it is in light of not paying rent to a landlord.
The decision to buy or sell a home is about the buyer and their lifestyle. Is there a life change that makes this a good time to buy? Becoming clear reasons to move and what it means to y0u and y0ur family is the first step invest0rs take in their home buying process. In this article, we will go through the t0p reasons that drive people to buy houses in Nigeria.
The top five reasons given in the survey for buying a home, in order, are:
- It means having a good place to raise children and provide them with a good education
- You have a physical structure where you and your family feel safe
- It allows you to have more space for your family
- It gives you control of what you do with your living space (renovations and updates)
- Paying rent is not a good investment
- It provides a stable and safe environment for children and other family members
- It means the money you spend on rent goes towards building equity, rather than to a landlord
- Homeownership creates the opportunity to have a h0use 0f y0ur 0wn by the time you are ready t0 retire
- Homeownership creates the opportunity to live in a neighbourhood that you enjoy
- Homeownership allows you the right to decorate, modify and renovate your home as you see fit
Price dominates the conversation when we talk about buying a home. However, when it comes down to it, we buy for the same reasons our parents and grandparents did – we want a better lifestyle for ourselves and our families.
Are You Planning A Move In 2022?
Which category are you in? If you would like to buy a house anywhere in Lagos, why not contact us today and allow us to make the entire process seamless for you.