What’s next up for my Landed property ?
There are so many options out there on what you can do with a landed property, real estate has a lot of great options, let’s say you own a plot of land in one of the hotspots of Lagos today,
in Ibeju-Lekki or Epe, you can decide to …
PURCHASE THE LAND AND SELL IMMEDIATELY
In some cases you may have purchased your land in an area that is sold out and high in demand, assuming you can find a buyer in time you can decide to sell your land immediately after acquiring it, not waiting too long at all, negotiating with a buyer to purchase your land at higher price than what you acquired it for. You have to do your due diligence, you can decide to do the work yourself soughting out a buyer, determine your base price, the lowest you would be willing to go for its price tag, before heading into negotiations with any buyer. You could also involve an agent who will do most of the legwork
recommend a base price, help you find a buyer, at a percentage of the proceedings.
This option here is one of the most popular options in real estate today. A lot of people in Nigeria have opened their eyes to see other people reaping the benefits of their investments from a decade ago. Land banking is the process of purchasing a barren land in a strategic area, that has proposed future infrastructural projects and or massive industrialization, holding onto the land until said projects are completed or almost completed, adding greater value to the land than its initial purchase price
and selling it off after its value has greatly appreciated. This is a great option for keen investors who have spare cash lying around and are looking to acquire assets.
BUY, BUILD AND RENT
This is also another great option for real estate investors. There are lot of factors to be considered in this process, first is the location of the barren Land, you have to consider its proximity to access roads, landmarks and the general population, the closer your land and more accessible it is, the greater the demand for housing. Buy, build and rent involves buying land in a strategic area, as oppose to land banking, you decided to develop the land for residential purposes, which you can later rent out to individuals who need and or want a place to stay, at a fixed annual rent, bringing in steady cashflow overtime. This is very viable option, it does however require a lot of investment even after buying the land, you have set aside capital to develop the land into a standard housing unit stable and attractive enough to attract tenants to rent the place.
BUY, BUILD AND SELL
Another option that you consider for you landed property is to develop the land into a standard housing unit and sell. similarly to the buy build and rent, the difference here is to recoup your overall investment in one swoop. Buy, build and sell involves buying land in a strategic location developing said land, and selling it after it has been fully furnished. Both options are great but they both have their setbacks, if you decide to buy, build and then rent, you have to consider the expense of maintaining it over time, buildings tend to deteriorate or are damaged by previous tenants, making them less and less attractive for use. Buy, build and sell on the other hand releases you from the responsibility of maintenance, however it may be harder to find a buyer or take longer, due to the price tag, as the expenses accumulated overtime from investing into it’s development, you would want to recoup that
the total asking price will narrow your target market.
These are just a number of great options on what you can do with your landed property, take some time to review each option and pick which one you think is best suitable for you. Are you yet to get your own land at all? to be involved in these discussions ? why not reach out to us at Danbel today and we can show you our catalogue of landed properties that you can acquire to fit you into the bracket of options above. Our current and most popular landed property is the Avalanche Hill Park Estate at Eredo Epe, with a freehold title in a strategic location with massive proposed and developed landmarks, still at an affordable price … you can become a land owner as early as today. So why not take the first step towards real estate and secure your stake with us today
Avalanche Hill Park Epe
Location: Eredo Epe
LAND TITLE: FREEHOLD
SIZE: 500sqm (Full plot)
Outright Price: NGN3,500,000
Development Levy: NGN1,000,000
Deed of Assignment: NGN100,000
FULL PLOT: #5,050,000(Inclusive of all statutory fee)
SIZE: 300sqm (Half plot)
Outright Price: NGN2,000,000
Development Levy: NGN500,000
Deed of Assignment: NGN100,000
HALF PLOT-#3,050,000(inclusive of all statutory fee)
Think Investment, Think Real Estate, Think Danbel.