Selling a property can be a costly and stressful time for anyone. It takes a great deal of your time and effort, so it’s natural for vendors to want the process to end with the best possible outcome. All vendors naturally have the ultimate goal of seeing their property sell quickly and at a high profit. Yet in many cases, houses can sit on the property market for months if not years with little to show for the time and effort. This may be due to your agent and or partially due to common mistakes on the part of the vendor. There are many factors that go into a successful sale, including the estate agent you choose to work with and your marketing strategy. You can improve your chances of avoiding typical mistakes by working with a very proactive, highly recommended and experienced agent. With that in mind, here are some mistakes to avoid when you’re selling your home.
A lot of home activities such as cooking, cleaning, eating, drinking, socializing take place in the kitchen. That’s why it needs to be both beautiful and functional. Regardless of your kitchen design style, organization and layout are essential. Here are the some mistakes to avoid in order to achieve both practical and elegant kitchen design.
Poor planning and budgets that are too small can lead way to some wayward, inconvenient and disastrous mistakes. When you plan on building a new home, you must look at the home from many angles. You must consider your current and future lifestyles. You need to take family planning into consideration – Will your family be expanding? Or will your children be leaving the nest? Do you entertain often and host overnight guests regularly? Take your time and do your research both online and in person. Be sure to take the time to meet with professionals in the industry. Poor design choices can make your home not only uncomfortable, but downright unhealthy. Architects, engineers and builders are all trained to help you make effective decisions. They will help guide you as to where you can save and where you absolutely should not cut corners.
Real estate tends to lag behind other economic sectors when phenomena such as recessions take place; as such, it may take some time before the proverbial housing bubble bursts. When that happens, buying opportunities tend to emerge.
Few points are listed below to enlighten buyers out there.
Depicted above is a single cycle. The end of the recession phase connects to the beginning of the recovery phase to form the continuous wave pattern. Understanding the progression of each phase within the cycle is critical in being able to identify investment opportunities, as well as risks that can arise, with heightened sensitivity when phases are on the verge of transitioning.
One of the unique aspects of commercial real estate is that investors can invest successfully across all four phases of the cycle. However, understanding whether a cycle is climbing closer to a market peak, or starting down the slippery slope towards a market low can affect a variety of factors, such as:
- Pairing investment strategy to phase
- Holding periods and exit strategies
- Return expectations
- Performance as it relates to income and appreciation
- Timing of capital improvements
For an industry that has literally suffered a period of boom and bust in recent years, the real estate sub sector in the view of bookmakers is about to unravel.
According to the faculty members of the Nigeria Real Estate Investment and Exhibition (NREIE), a think-tank for the real estate market, the sector has enjoyed significant growth over the last decade even amidst the shortcomings of finance, know-how and right operatives. High-rise office buildings are springing up in tens yearly and luxury estates are on the increase in major cities. There is however more to be done, it is believed there is a deficiency of about 17 million houses to serve the populace optimally. Read More
Real estate business might not be very buoyant at the moment. The reasons are not far-fetched; the ongoing economic challenges in the country which has resulted in the fluctuation of naira against other currencies (dollar and pounds) and has made some people to put on hold investment in real estate, while a number of would-be investors have to contend with the task of locating investment opportunities in markets that offer the greatest long term growth and stability, and or investment in other endeavours. Read More
Does real estate interest you? Do you own multiple properties in Nigeria? Do you manufacture or sell building materials?
Then, Nigeria Real Estate Summit and Expo (NIRESE) is the place to be come this September. This first of its kind real estate event is a peculiar event that brings together principal people who share parallel enthusiasm for the Nigerian property industry. Read More
Investment in property along the Lekki-Ajah corridor continues to yield a great return for investors year-on-year. Lekki is the hotbed of real estate development in Nigeria at the moment and it is going to be so for the foreseeable future. Indeed, it is said to be the future of Lagos, hence it’s been dubbed the “New Lagos”.
Investing in property now in the Lekki-Ajah axis is one of the smartest moves any investor can make. However, finding a good developer who will not compromise quality but will deliver great results on time is key when it comes to buying property along that axis. Read More
The newly elected president of Nigeria Institute of Estate Surveyors and Valuers (NIESV), ESV Bolarinde Patunola-Ajayi has called on the federal government and State governors to establish Real Estate Transaction department to avoid illegal extortion by quack agents and surveyors.
Briefing newsmen in Abuja shortly after the maiden Council meeting since his assumption of office, he noted that the agency already functional in Lagos State would checkmate the excesses of non-registered agents as provided by the law. Read More