Nigeria today ranks as the highest growing population in Africa, this ranking comes with a lot of commitment on the part of the government and affects the welfare of its citizen. The increase in population has led to an increase in the demand for shelter and other essential needs, little wonder the real estate industry is thriving in Nigeria; here I will be sharing with you 4 reasons why you should invest in land.
Barring any natural disaster, land is the most profitable investment there is anywhere. Good for you Nigeria has never been known to witness any major earthquake, landslide or any form of land disaster. Land ownership is becoming for more affordable through flexible payment models introduced by property companies, wise individuals are exploiting this opportunity; on the average land appreciates by 30% bi-annually in Lagos alone, Well it might shock you to know that Nigeria has enough land mass to last 70 generations! Imagine what the cost of land would be in 5 years!
There is really no better assurance you can give to a bank or a money lending company. Trust me, a bank will not reject a landed property, if land were to be food, banks will call it their best food! Just provide the legal proof of ownership and the loan is yours! If you have a business idea in mind and you are looking for how you can raise funds, why not buy a land with the little cash you have now, recall that there are flexible payment plan if you desire to own a land, then wait for the land to appreciate, you could sell at 400% of the initial purchase cost if you buy at a developing location.
Multipurpose use – farm lease, land lease:
While waiting to resell your land, you can decide not to wait for your land to naturally appreciate in value; you can make it work while waiting for the right buyer. To prevent land theft, the land can be leased to farmers and could be put to other use like temporary market sites, event place, and football pitch. The good thing here is, you have the sole authority on what the land should be used for, well as long as it brings in a steady income.
A Land is the best bargaining asset:
If you are an engineer and want to bid for a contract, just try to let your prospect know you own a landed property, partners like the talk of landed property; it gives you a kind of advantage the best-written proposal can’t offer. Not the number of staff buses, tastefully furnished office space can ever be a better bargain than a landed property. If I must advise you, do not gamble with a land, because it could be the joker you need for your next big contract.
I have shared 4 important reasons why you should own a land, now the onus is on you to exploit the benefit of owning a land. In summary, bargaining asset, land value appreciation, and the prospect of financing your business idea should be one of the motivating factors for owning a land.