Why Real Estate Is The Best Investment Opportunity In Nigeria
- Posted by Karo Itoje in Blog Updates, Land Tips and Advice
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…And why you should start investing in Real Estate now.
I decided to write this today because two night ago I listened to one of the contestants on Big Brother Naija 2018 talk about how his father investing big in real estate (land and houses) in 1989 has helped trained his 10 kids since his retirement and how the father is able to continuously live well thanks to the real estate investment he made many years ago.
On hearing that I was like… This is exactly why I keep trying to get as many people as possible to invest now in real estate. There’s space for every budget. If you’re rich invest in big property items if not invest in what you can afford. We have lands selling between N600k/plot to N40million/plot depending on the location and title on the property.
Read: I Want To Buy A Land In Nigeria How Much Will It Cost Me?
With real estate there is no fear of losing your money as land and houses never depreciates. It only appreciates. So especially now that the value of the Nigeria naira is unstable you don’t want to keep money in the bank where the value can greatly depreciate from one minute to the next. Now things that N100k could buy less than 2 years ago we are having to pay N200k – N300k for it. That is at least 100% depreciation. Can you really continue to lose on your hard earned money like that?
And aside depreciation you know when you leave your money in the bank, the bank invest your money and keep all the returns. So help yourself, do the investment yourself and keep 100% of the returns.
With real estate your investment is REAL to you. You can see it. It’s an asset. But unlike other assets that depreciates with years, properties appreciates with years. So should for some reason your financial situation changes tomorrow, you can bounce back quickly by selling off a property.
At a time when my elder brother was in desperate need of cash all he had to do was sell off his house that he was living in, use some of the money to buy another house in a cheaper area of Lagos and had money left to use while growing his business.
There are so many stories of how investing in real estate has been greatly beneficial to a family in times of need. How it has helped catapult an average Nigerian with little to become a billionaire. And how it has helped retirees effortlessly continue to maintain the lifestyle they were used to when they had a job.
Also there’s no better investment to leave your kids as inheritance. I remember my humble beginnings. The house I lived in Surulere (face me I face you) had 25 rooms. It was owned by a woman. She was occupying two rooms in the house with one of her children when I moved in. She died the year I moved in. And after she died the rooms were shared among the children and grandchildren. So each tenant had to pay rent to the appropriate person that had the room we occupied. That alone kept some income coming in yearly for the children and grandchildren. And I heard they had another house which was also bringing in rental income for the children and grandchildren until they sold it off.
So much returns for so little effort. Real estate is the only investment that gives you so much returns for many many years with very little maintenance effort. Once you’ve built a house there’s very little effort required to keep it maintained. And if you even decide to do land banking instead, which is buy, hold and sell off years later, there is ZERO effort required to triple your money invested.
The benefits of real estate and why you should invest in it now can not be overemphasized. It’s clear as day and night. And the best time to invest is now.
Never wait to invest. Instead invest and wait. Don’t say I want to save for it. I will invest in two months, three months or next year. Start right now and you can save yourself from paying more for the property. Properties appreciate everyday. A plot in the famous Amen Estate Phase 2 was N10million just 2 weeks ago. Now it’s N12million.
So act right away. If you can’t afford to pay the price outright then make a deposit on it and pay the rest on installment. Making a deposit locks down the price for you at the current amount until you finish paying it.
Have Questions?
Have questions? Want to process an application? I’m just a call or chat away. Processing an application takes 3 simple steps. I’ll be waiting to hear from you.
Please do use the social icons below to share this wealth information with your friends and family members. Help me help them also to invest now in the best investment opportunity in Nigeria; Real Estate.
Karo Itoje Real Estate Consultant
Call/WhatsApp: 09071070691
Read: The Best Place To Buy A Land In Lagos
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