Welcome to the 4th Edition of REMNs – Nigerian Real Estate: X Files.
In this edition, you will get to know the 7 Reasons First-Time Land Buyers Should Buy From Real Estate Companies In Nigeria.
So strap in, get your popcorn, and get into this exciting edition of REMNs – Nigerian Real Estate: X Files.
Recently, I purchased land in an estate developed by a real estate company, but I considered several options before making this purchase decision. This made me think about other investors, especially first-time investors who might not have the insight or information I had before making this decision. It’s with this mindset I present to you this article titled “7 Reasons First-Time Land Buyers Should Buy From Real Estate Companies In Nigeria”.
In this article, you will get to know:
-The 7 reasons you should buy land from a real estate company as a first-time buyer
-The Disadvantages
-My Conclusion
Let’s proceed…
7 Reasons First-Time Land Buyers Should Buy From Real Estate Companies In Nigeria
Reputation and track record: Real estate companies are typically more reputable and have a good track record of selling land. This means that you are less likely to be scammed or run into problems with the title or paperwork.
But it is very important to choose a real estate company that has a good reputation and a track record of success. This will help you feel confident that you are getting a good deal on a quality property.
Experience and expertise: Real estate companies have more experience and expertise in land transactions than most individuals, families or communities. This means the land purchase process will be less stressful for you than if you were to make the purchase directly with an individual, family or community.
Paperwork: Real estate companies will take care of all the paperwork involved in the sale, which can save you time and hassle. This includes things like the deed, the survey, and the closing documents.
Facilities and amenities: Real estate companies often offer amenities and facilities that are not available from individuals, families, or communities such as security, landscaping, and recreation facilities. This can make your investment more attractive and valuable.
Financing options: Real estate companies may be able to offer financing options that are not available from individuals, families or communities. This can make it easier for you to buy land, especially if you are a first-time investor.
Fixed price: When purchasing land from families, or communities you will likely exceed your budget as additional costs from family members, and traditional rites will increase the amount. In some cases, principal family members who were excluded from the transaction, community youths or OMO ONILE will create problems unless a piece of the cake (money) is given to them.
Marketing and promotion: Real estate companies will market and promote your property to potential buyers. This can help you sell your property faster and for a better price.
Support: Real estate companies can provide you with support after the sale, such as property management or maintenance services. This can give you peace of mind knowing that your investment is in good hands.
Of course, there are also some disadvantages to buying land from a real estate company. These include:
Cost: Land purchased from real estate companies when compared to that purchased from individuals, families, or communities are higher in price. As real estate companies are businesses first and need to make a profit to survive and serve their customers better.
Rules and regulations: Real estate companies may have stricter rules and regulations than individuals or families. This can be restrictive for some investors.
Lack of control: When you buy land from a real estate company, you will have less control over the property than if you bought it from an individual, family or community. This is because the real estate company will have the final say on things like the development of the property, the type of property to be developed, and the setting of the selling price in some instances.
In Conclusion, the decision of whether to buy land from a real estate company is a personal one. There are pros and cons to both options, and the best choice for you will depend on your individual needs and preferences.
If you are a first-time investor, it’s recommended that you consult with a real estate advisor like RealEstateMoses to get their advice on the best way to buy land for your investment portfolio.
Moses Oyong is a luxury real estate advisor with a passion for arts and culture, music, fashion, and all things luxurious. With a keen eye for beauty and attention to detail. I strive to help my clients find their dream homes that reflect their unique sense of style and taste whilst providing them with the right information to ease the stress of the decision-making process.
