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
Finding an affordable property to rent/lease can be a real nightmare. Sometimes the stress of checking one property after another, perhaps for months, begins to culminate in a desperation—an eagerness to grab the first one that meets our criteria.
When eventually, we find a suitable one, we are often in such a hurry to move in that we do not take time to read and fully understand the terms and conditions contained therein or even insist long enough to have clauses that will favour us inserted into the agreement for fear of losing to other ‘faster’ bidders.
This negligence of the part of tenants can often end up leaving enough room for minor mistakes that can sometimes become so costly we’d wish we never leased/ rented a piece of real estate in the first place. Read More
Culled from Realtor.com
Ah, to be a first-time home buyer again: How easy it was to buy a home when you weren’t carrying another mortgage on your back!
If you’re looking to graduate from first-timer to repeat buyer, you know things are about to get much trickier. Unless you’re a bona fide house collector, you’ll have to sell your home in order to buy anew—adding a whole separate layer of anxiety to what you already know is a stressful home-buying process.
In an ideal world, you’d buy a new home, move, and then, and when all the dust settles, deal with the turmoil of selling. But for most people, that’s totally unrealistic. Not only does it cost significantly more, since you’ll be paying two mortgages, but sellers might be quick to judge if you’re holding on to your current home. Read More
It is not beyond our notice that many beautiful houses adorn Abuja, Nigeria’s capital city. The fact that these houses have not impacted the lives of the masses has not also escaped us.
This essentially means that housing, shelter; which is one of human’s most basic needs has eluded the average Nigerian even when they are surrounded by many beautiful and well-constructed estates.
Truth is, not everyone will live in the estates mostly because of their financial status, which is why there are several satellite towns like Gwagwalada, Kubwa etc in Abuja which people can opt for. Read More
A couple of weeks ago, the hutbay team was one of the 40 start-ups around Africa that was chosen to pitch their ideas to potential investors and our team proudly upheld the integrity of our company. Our CEO, Mr Owolabi Olatunji proudly pitched the idea behind our company to investors from around the world who were very impressed with our performance.
During the event, the Hutbay team used the opportunity to familiarize ourselves with more stakeholders in the industry and also gaining useful ground with the potential investors. The team enlightened the attendees present at the event about the potential strength of The Nigerian Real Estate Marketplace and the possibility of expansion. Read More
I am sure anyone will agree with me when I say there has been a significant change in the architectural design of buildings in Nigeria compared to what we’ve had in years past. This changes *not that we are complaining* can be attributed to many things including the state of the nation and the adoption of westernization along with the need to upgrade the system.
Nigeria is basically a unique country partly because of our cultures and traditions and partly because we are the most populous black country in the world. The country’s new generation of environmentalists such as Architects, Builders, Estate surveyors, Land surveyors and Urban and Regional Planners understand the need for buildings not to only be functionally effective, but also aesthetically beautiful. Read More
Colours or lack of colours, if you agree with me, makes a lot of difference on how the house will look or how presentable the house will be. I recently had to deal with a colour change for my parent’s house with a very unbearable painter who kept telling my sister and I what to use and what not to use which wouldn’t have been a problem if he was suggesting colours that actually made sense.
One thing I have learnt from the whole experience is that I know absolutely nothing about colours. Sure we were taught the colour wheel in school but nobody ever told me that there were more colours than I could imagine especially when you are planning on painting a house. This process requires careful consideration of what the room would be used for and who is going to live in it or, if in case of offices, what kind of business would be conducted in the building. Read More
We have some exciting developments over here at Hutbay. From today, you’ll begin to see them unravelled. One consistent theme you will notice in all our present and future undertakings is our vision to provide information to aid buyers and renters to make better informed decisions, while at the same time, provide cutting-edge tools and platform for agents to market their properties, gain wider exposure and network with other agents.
More and Better Information:
Gone are the days where the only thing you know about a property from an advert is a mere text: “2 bedroom flat for sale at Magodo. N35m”! Read More