Statistics shows that 70% of Lagosians are willing to rent rather than buy a property. Why is that so? Is buying a house a good investment? A big yes, so why do many people prefer to renting to buying an apartment?
Buying a property is the dream of so many Nigerians. However, most Nigerians are incapacitated by the high cost of buying a property that they consider it secondary to feeding and clothing. With the recent downturn in the economy and the new inventions in the Real Estate industry, buying a house has become a really good enterprise. Some Real Estate companies are now involved in the business simplifying the process of getting a property, with or without a mortgage in recent times.
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The era of you building a property, and people paying out rightly has passed. We now have a situation where people are selling a property through what we call installment and flexible payments. In Nigeria today, it is possible that you buy a property without going through mortgage and pay in 36 months, pay in 48 months, you get the keys to your house. You can also buy a piece of land through the same process.
Even, the Lagos rent to own scheme for low-income earners is a good initiative. It will help a whole lot for people who can plan. So, it is a good initiative for those who can afford it, and for those who can fit into that payment realm. Developers have put such structures in place before now, but most Nigerians may still look forward to paying their yearly rent to their landlords prospectively.
To enjoy this process of buying a house, you need to be in touch with property owners that offer this scheme to their customers. There are also companies that specialize in building properties for low-income earners.
The first thing to do is to check out properties for sale online. The second thing is to book an inspection with the agent in charge of the property. The third is to work out flexible plans on how you want to pay for the property. You can also learn more about the payment plans in the real estate company you choose or rub minds with the agent to get informed about the payment plan.
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Investing in real estate and creating a long-term payment plan can be good business. If you want to invest, real estate is the best this season.
Also, if you are an agent or a property owner, allowing a long-term payment plan is a win-win for your business, instead of looking for a tenant for a long period of time. You will start receiving the reward of your labour early enough. Instead of waiting for a buyer for 6 months or even one year. You can also make double profit.