Real estate investment is a business that is known to compete with the stock market in producing millionaires in both developed and developing economies. In the United States, it is known to have made a higher number of millionaires in recent times than any other instrument, especially when you have a downturn in other nominal market instruments.
When you invest in properties, you are putting your money on assets that have real value physically. This makes it easy to relate with in terms of assessment, evaluation, and projection because the fundamentals are very conspicuous. The most lucrative of all real estate instruments are virgin properties or properties that are still being developed. The percentage growth in this kind of property most times can move up twice or three times within a few months. There are several cases where people have bought a piece of property and within less than a year, more than doubled their initial investment.
In virgin areas like Ibeju-Lekki, Lagos, and areas around Lagos-Ibadan expressway, a property boom has already been triggered due to certain attractions that have come up in that area. What a lot of real estate development companies are doing now is to make land available for buyers to develop. In doing this, individuals now have the opportunity to make money through property trading as the value of the entire estate increases. Also, those that will eventually build could be charging rental at a rate that can make them recoup their investment within a short period of time, or they can make an outright sale of the developed property.
Do you know that your present level of income can build you a house even if it is a room? A landlord who owns just one room is better than a tenant struggling to pay rent for a duplex accommodation. Properties appreciate along with inflation because landlords must pass their expenses down to their tenants or to those who want to buy properties. Research shows that retirees and pensioners that are living in their own houses live longer and better lives as compared to their counterparts who are tenants, squatters, or floaters.
Some areas that are considered to be on the outskirts of the city today could be right in the center of the city some twenty years from now. There’s a saying that goes; “A man that has not built his own house has not got a home. ” and one that says, “A man that has not built his own house has not started living. ”
Statistics show that less than three percent of Nigerians are landlords. Ninety-seven percent of them are tenants, squatters, floaters, or homeless. That is, less than three percent build the house that ninety-seven percent live. Rent is increasing at a rate of 40% per year. That means, if you are paying N100, 000 per year now, you are likely going to be paying about N400, 000 per year in the next ten years.
Friends, if you do not have a roof of your own, you have no root. Take advantage of all you have and work diligently to build your own house or purchase landed property.
For those of us who have savings in the bank or in other saving schemes, leaving your funds in those places is as good as enriching the banks and those handling the schemes. It is now time to pull out those funds and invest in property so that you can reap high returns on your investment and secure a better future. The better time to buy property was yesterday but the best time to buy is Now!