At a time when several investments keep crashing, one way to safeguard your money is to buy land. We know it may be tempting to lock up and keep your money in the bank. However, that is not a smart move. Depreciation is real, and the value of money you save in the bank today would reduce a few years later.
It is relatively easy for you to buy land in Nigeria today with the right tips and real estate company. That said, some people might be sceptical about the whole buying land thing.
So, Is buying land a good investment? We are here to help you with 15 reasons to buy land in Nigeria today
Regardless of the year and time, land will always be a useful resource. This is primarily true when you buy land in a good location. The phrase “good location” should not be a cause for worry. When we talk about “good location” when you want to buy land, it is all about you. “What is your long-term plan for the land?”
For example, if you someday hope to commercialise a land, you should not buy land in an area reserved for residential purposes. However, there are factors that could affect the appreciation of your land in value. Such factors include proximity to major commercial hubs and proper road access.
When you have a piece of land, you are not under compulsion to use it for a specific purpose. You call the shot. You are safe if your land use is legal and in line with the Government plan for that area.
Land owners have the liberty to get creative with their use of land. You could rent it out; you could build on it. You could lease it. You could even make it a farm. The borderline of possibilities when you own land is endless. If you are unsure what to do with the land, you could leave it sitting till it's time to sell.
One primary thought in the hearts of investors is how to make their money work for them. When you buy land, you could start living in the reality of your money working for you. There are several ways to use land as a money-making machine. One such way is to develop structures and rent them out for cash. If you are still getting ready to start building, you could lease the land for a specified period. That way, you will make passive income while facing other essential aspects of your life.
For security reasons, investors are often advised to diversify their investment portfolios. That way, they can be assured that if one investment fails, they have another standing. Hence, they will be able to bounce back from any financial mishap faced by a failed investment.
If you intend to diversify your investment portfolio, land purchase is an effective way to do so. One of the reasons is the ability of land to serve several purposes. Consequently, one piece of land can generate several sources of income simultaneously.
As prices of goods and services increase, the amount of money in your savings account constantly decreases. Hence, the value of the same amount of money will be lower this year than last year. When you buy land in Nigeria, you protect your wealth from inflation. Buying land also enables you to increase the price of your land in line with the current market value. Hence, earning you more money than the purchase price of the land.
Land is a finite resource, hence always valuable. There is no factory where more land is being processed. Additionally, no one holds the autonomy of land. So, if you do not get land in area B, you could always purchase in area A. Another beautiful importance of land is that it cannot be destroyed. Regardless of whatever changes occur on a piece of land, it will always be usable. Even if it cannot be used for the initial purchase plan, you could always use it for something else.
When you buy land in Nigeria, the constant change in the economy will not be a thing to worry about. Land is an asset that does not deplete in size. Hence, there would be no need to lose sleep over the possibility of it wearing out or vanishing. Rather than your land depreciating in size, it will instead appreciate.
Land purchase is a considerably easy process with an excellent real estate company like Land Republic. Like most tasks, the purchase process could even be completed online. Gone are the days when you needed to travel miles and kilometres. With technological innovations, you could sign electronically and pay online. Afterwards, your documents will be sent to you.
Unlike several investment options available, land is a tangible resource. It cannot erode or varnish into thin air. If you were to invest in assets like shares and cryptocurrency, the fact is that it cannot be seen. Hence, you may get worried or worked up over the possibility of it disappearing. However, when you buy land, you have a sense of security because it can be seen and felt.
When you purchase an already developed property, there will undoubtedly be a need to maintain it. You will need to make some repairs, conduct renovations and general maintenance on the facilities in the property. However, this is different when you buy land.
An undeveloped land needs little or no maintenance. If at all you see the need to maintain it, you will be the one to decide the improvements that will be done on the land. Even at that, the amount you would spend will be minimal.
Several people worry about how money will keep flowing in when they are old and grey. Buying land is a smart way to prepare ahead for your retirement. As time passes, the value of your land will keep increasing. By the time you retire from work, your land investment will be substantial enough to take care of the essentials you will need money for.
If you would love to venture into real estate without much money, the easiest way is to buy land. Compared to developed properties, buying land is a budget-friendly approach. The reason is straightforward, owners of the acquired properties would sell at a cumulative price of the structure and land. Hence making it more expensive. On the other hand, when you buy undeveloped land, you decide the kind of structure you want on it.
It would be best to buy land in Nigeria because land is in constant demand. The constantly increasing demand for land serves as a pointer that you would not need to struggle to find buyers for your land. Additionally, this indicates that your land will increase in value as the demand increases. Why? In every geographical area, there is a finite portion of land available. As the demand for land increases, there is a limited supply available. And from basic economics, this will necessitate an increase in price. So, it’s a win-win for you.
Forget, Land Money is good money!!
You will get a significant ROI when you buy land in a fast-developing area in Nigeria. Sometimes, the return on investment for land could move to as much as 100%. This is way more than you could get from most investment alternatives.
To enjoy the high ROI possibilities of land, give enough time between purchasing and selling the land. Also, ensure to invest in lands with a chance of rapid development like those sold by Land Republic.
In real estate, more investors are usually focused on buying developed properties. So, the competition for bid and purchase is usually keen. However, you could use this to your advantage by buying undeveloped land. Considering the numerous benefits of land, you could even outsmart other investors. One way to do this is to make buying and developing bare lands a business. Afterwards, do a business selling these lands to the competitive real estate market.
There are several benefits of buying land in Nigeria. However, more than a single post will be required to tell you about it. To maximise the benefits of land purchase, ensure that you buy it through a reliable real estate company.
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