New trends for 2018 are already beginning to emerge for which investors,developers, brokers and agents will need to keep up with and adjust accordingly. A few of them are as follows.
Every person in the market looking to rent a real estate property expects to find a property that meets his or her needs and preferences. How then can one ensure that a rental real estate property will offer value for money? These are some factors to consider when renting a real estate property.
When it reaches a time to own a home either through cash buying or a loan, it is prudent to consider using a real estate agent. It will avoid making a mistake that many people make and pay for it heavily. Today, there are numerous agents who can help you buy a home fast and conveniently. Hutbay is one such agency, and they have helped many people get their dream home. Choosing to use this method has the following benefits.
Here are the some challenges developers’ faces in the built environment
- The issues of Omo-onile: You have to part with a lot of money to get land and be able to use the land. If it’s a country where the government has got full control according to the 1978 Land Use Act, we would get assistance from them as partners whereby they provide the land while we provide the houses. If we can get the cost of land out of the budget of housing, we would be able to sell them at a very reduced rate. But in a situation whereby we have to pay for the land, taxes and what have you, I’m sorry we can’t have the affordable housing we wish for.
- Getting good people to work with: People are difficult to work with. A lot of them don’t want to work but want to get paid. To get the right people has always been difficult. A wise man once said you must earn your keep and keep your earn. There are still good people though. It’s just difficult to get them
- Contending with economic policies: This is a big task. The government sometimes come up with policies that could send you back to your village but you have to be able to manoeuver your way around it and still find a way to comply. Some of these policies have killed so many businesses but nonetheless, the government still tries to introduce policies that would favour us. Although, most of the policies they came up with so far have crippled our businesses.
- Funds: For instance, a house that you ordinarily want to sell for 40 million naira will have to be sold for as low as 20 million because you need off-takers to kick-start the business. When you get the money, you don’t look at the margin, you just want to build and deliver. At the end of the day, you would have lost a lot of money before you start selling at the original price.
- Infrastructure development: In a situation where you have to provide your roads, drainage, poles, strings, transformers, light etc. there is no way you can regulate your price. Infrastructural development is a huge burden which has really affected this business a great deal because if you don’t have what it takes to provide all these, you will be out of the business
- Trust: Trust has been abused by many developers. There are a whole lot of Nigerians in diaspora who wants to come back home and invest but they have been swindled by families and relatives. Their trust has been betrayed and they have become so hard to convince.
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Home ownership is a rite of passage many of us dream of. Owning a home means putting down roots and having a space that is truly yours. It’s a significant moment of your life when you finally own a home.
But owning a home can be daunting because of the responsibilities and obligations that come with it, combined with the initial process it takes to get there. When done properly, though, buying and owning a home is a process that limits your financial risk, increases your investment power, and saves you tons of money over the long term and it can even save you money immediately. Some advantages of owning a house are given below.
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