How Can a starter make Profit Investing in Properties
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Making profit in properties requires attention to a lot of details amongst them are the ones discussed below.
(1)You must get a good architect to design the building for you in the first place, he will be able to give maximum input to your design and requirements without necessarily taking the cost of your building too high.
(2)Also allow a professional-(architects,builder,civil engineer) to supervise your building during construction and make sure the building comes out well with particular attention to details.
(3)Employ the services of a quantity surveyor to be able to know if what you have to spend is enough to carry out the building project in the first place, if not then the design may have to be scaled down, else you may have an uncompleted project in your hand which can be very difficult to sell at that stage.
(4)When you are investing in properties always make sure you follow the trends of urban growth, what I mean is that in an axis where development is tremendous then you can look for a cheaper property close by and develop having it in mind that development will soon take over the place.
(5)Buying properties in choice areas is another sure way of making your investment yield profit very fast.
(6)Following hype:V.G.C, Banana Island, e.t.c were able to increase so much in value because of the hype the original developers of these areas created. When you have such places that are overhyped be rest assured that prices of properties will grow very fast in such places.
(7) Employ the services of good estate valuers, many people have lost quite a great deal of money trying to sell their properties on their own, thinking the commission of an agent will eat into their profit, but this is not true, because study has showed that a lot of property owners do undervalue their properties. And incase of rent then you also need a property manager to oversee the property.
(8)Advertise your properties to quickly get buyers that are ready to pay. You can advertise on castlesweekly, Guardian newspaper ,even on radio and television.
(9)If you tend to rent it out, then draw a plan for a good maintenance of the building which will help also to increase the value of the property, and when you raise the cost of rentage is most unlikely your tenant will complain. Though also find out the background of your tenant.
(10)During planning make provisions for adequate airspace around the house and good parking space that can accommodate at least one car for a family.
(11)Don’t just build for building sake,build where there are actual needs for your properties. Building where cost of rentage is beyond the reach of the people living around will result in a loss to you. Put the building that fits the environment and also affordable to the class of people of that area.
(12)Also during planning, put yourself in the position of your tenant/prospective buyers, if you can’t leave in a building you are proposing then know that others may also not be interested in the property you are proposing.
(13)In areas where it is acceptable, you can design for a mix use. In such cases offices and other corporate organizations may rent some parts of the building which they may probably pay more than the residential parts. Shops can be designed along with such projects.
(14)Think of the possibilities of designing for corporate bodies for long lease, though location must be of high activity area.
(15)For a starter with less funds, but with eye for long term investment, you can buy properties far from the town and wait for few years before selling, by then it must have appreciated considerably.
(16)Some areas you should consider for quick returns on investment are places around educational institutions (hostels),capital city, companies e.t.c
(17)Do not compromise the use of quality materials for your property because this also adds value to it, and smart buyers can easily recognized good properties.
(18)Properties close to recreational facilities also increase in value at a very fast rate.
(19)Properties around areas of high human trafficalso rates high in value, for instance properties around areas like redeem campin Ogun state and canaanland Ota are beginning to have high prices.
Areas close to political centers and seat of powers will also make the property value to rise.
(20)Properties close to access roads and infrastructural facilities will also grow in value at a very fast pace.
(1)You must get a good architect to design the building for you in the first place, he will be able to give maximum input to your design and requirements without necessarily taking the cost of your building too high.
(2)Also allow a professional-(architects,builder,civil engineer) to supervise your building during construction and make sure the building comes out well with particular attention to details.
(3)Employ the services of a quantity surveyor to be able to know if what you have to spend is enough to carry out the building project in the first place, if not then the design may have to be scaled down, else you may have an uncompleted project in your hand which can be very difficult to sell at that stage.
(4)When you are investing in properties always make sure you follow the trends of urban growth, what I mean is that in an axis where development is tremendous then you can look for a cheaper property close by and develop having it in mind that development will soon take over the place.
(5)Buying properties in choice areas is another sure way of making your investment yield profit very fast.
(6)Following hype:V.G.C, Banana Island, e.t.c were able to increase so much in value because of the hype the original developers of these areas created. When you have such places that are overhyped be rest assured that prices of properties will grow very fast in such places.
(7) Employ the services of good estate valuers, many people have lost quite a great deal of money trying to sell their properties on their own, thinking the commission of an agent will eat into their profit, but this is not true, because study has showed that a lot of property owners do undervalue their properties. And incase of rent then you also need a property manager to oversee the property.
(8)Advertise your properties to quickly get buyers that are ready to pay. You can advertise on castlesweekly, Guardian newspaper ,even on radio and television.
(9)If you tend to rent it out, then draw a plan for a good maintenance of the building which will help also to increase the value of the property, and when you raise the cost of rentage is most unlikely your tenant will complain. Though also find out the background of your tenant.
(10)During planning make provisions for adequate airspace around the house and good parking space that can accommodate at least one car for a family.
(11)Don’t just build for building sake,build where there are actual needs for your properties. Building where cost of rentage is beyond the reach of the people living around will result in a loss to you. Put the building that fits the environment and also affordable to the class of people of that area.
(12)Also during planning, put yourself in the position of your tenant/prospective buyers, if you can’t leave in a building you are proposing then know that others may also not be interested in the property you are proposing.
(13)In areas where it is acceptable, you can design for a mix use. In such cases offices and other corporate organizations may rent some parts of the building which they may probably pay more than the residential parts. Shops can be designed along with such projects.
(14)Think of the possibilities of designing for corporate bodies for long lease, though location must be of high activity area.
(15)For a starter with less funds, but with eye for long term investment, you can buy properties far from the town and wait for few years before selling, by then it must have appreciated considerably.
(16)Some areas you should consider for quick returns on investment are places around educational institutions (hostels),capital city, companies e.t.c
(17)Do not compromise the use of quality materials for your property because this also adds value to it, and smart buyers can easily recognized good properties.
(18)Properties close to recreational facilities also increase in value at a very fast rate.
(19)Properties around areas of high human trafficalso rates high in value, for instance properties around areas like redeem campin Ogun state and canaanland Ota are beginning to have high prices.
Areas close to political centers and seat of powers will also make the property value to rise.
(20)Properties close to access roads and infrastructural facilities will also grow in value at a very fast pace.
posted by Omion Emmanuel at
11:15 AM
Avoid been Cheated by your Building Contractor
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