- Dec 16, 2018
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WHY IT IS IMPORTANT TO BUY LAND
An important reason why buying vacant land makes sense is the fact that it is easier and cheaper to hold for a longer time. One of the factors required to profit from your real estate investment is time. The longer you can hold on to the investment, the higher your chances of making a good profit. land ownership gives the owner peace of mind As a long-term, tangible asset, raw land doesn't wear out or depreciate, and there is nothing that can be stolen or broken on it. It is a limited resource that is relatively inexpensive to own and requires little maintenance
Land banking is a real estate investment structure that involves buying undeveloped land in either small or large quantities for a reduced/small amount, with a goal of holding it for a while and selling it for profit at a future date when the price appreciates. For you to have a better understanding, picture land banking like your typical banking system, where you have a certain amount of money you want to save, you pay it into a bank account, say a fixed deposit, and get a certain percent interest on it for keeping it over a certain period of time; note that in banking, the highest interest rate you would get is under 10% after an entire year. Now land banking, instead of putting that money into a bank, you use it to buy a piece of undeveloped land in an area where development is predicted to take place over time, the amount of interest you receive on land is usually double the amount used in the purchase of that land. for example, keeping One Million Naira in an interest-yielding bank account can only get you 7.5% in a year; but buying a property for a Million Naira can fetch you Three Million Naira or more in the succeeding year, at no cost. So many people in the world have built wealth through land banking. Examples are the likes of Ooni of Ife, Oba Ogunwusi (before he became Ooni of Ife), Folorunsho Alakija, George Washington, Donald Trump, and many more. Rather than saving your cash in the bank where you make like 3-7% in a year on interest, why not just store your cash on landed properties where you can get between 50% to over 100% profit within a year. Anybody can leverage land banking and earn substantial revenue on investment all you need is It's a far better option for those based abroad on the grounds that since they don't live in Nigeria, they are progressively patient to leave the land to significantly increase its cost before selling.
Are you ready for the necessary steps to becoming a landowner? Kindly dvisit our website to book an appointment make to make a choice.