PITFALLS TO AVOID WHEN INVESTING IN LANDS AND PROPERTIES

PITFALLS TO AVOID WHEN INVESTING IN LANDS AND PROPERTIES

The following are some of the pitfalls to avoid when investing in real estate:

WRONG INFORMATION

It is normal to get information regarding anything you intend putting your money into but the main question is "who are you getting the information from?" It so surprising that some people depend on the judgement of people who have never invested in real estate or have anything at all to do with real estate business. We advise that you make sure you are getting your information from the right sources.

INFORMATION OVERLOAD

This can be very crippling and can lead to indecisiveness when it comes to investing in lands and properties. With the availability of lots of videos to watch, Podcasts to listen to and Blogs to read, the information can be conflicting at times and may lead to confusion. You are better off sticking to 2 to 3 tested sources of information.

INDECISIVENESS

This is close to procrastination if the land or property meets your taste and need and you also have the money to get it now, why procrastinate? Real estate isn't something that one should procrastinate because its value appreciates on a monthly to yearly basis. Moreover, you stand the chance of losing that opportunity to another person as we all know that land is a limited and scarce resource. Let's take, for example, one of my clients who picked interest in investing in Prime Gardens Phase 2 four months back, when a plot was selling for N1million. He found it difficult to make up his mind then even after inspecting the place and having all his doubts cleared, well a few days back he called to say he has made up his mind to invest because lots of his friends are investing in that Ibeju Lekki axis, he was shocked to hear that the estate is now valued at N1. 5 million per plot and not just that, only a few plots are left, what is left is less than the number of plots he had in mind to purchase 4 months back.

This is just a typical example of how most people miss out of a good investment opportunity as a result of indecisiveness. Always be decisive.

LACK OF PLANNING

Before making any investment in land and properties, you should be able to know why you are making that investment, this, in turn, will determine what kind of property or land you should get, the location etc, you should also have an estimate on expected return on investment for that land/property given its current location. Do you intend to resell? Do you intend building for residential purpose or commercial purpose? If you intend reselling, who do you expect is most likely to purchase the land or property from you, given its size and location? When exactly will you like to sell or develop the land? These and more are the things you need to put in mind when making your plan.

At Value Homes and Properties, we help individuals and companies to make decisive investments in lands and properties with predictable returns on investment, will you like us to assist you? Call: +234-802-33-00-333 or visit our Facebook page https://www.facebook.com/valproperties/ and our blog https://valuehomesandproperties.blogspot.com/ to get started.