11/02/2022
WHAT KIND OF LAND SHOULD I BUY?
First of all, Let's assume BUT it might not be an assumption for someone here, but let's assume you finally save up or you finally hit that big contract or you finally make kill in your Job, and Deep down you want to buy land,
What kind of land Should you buy.
Buying land in Agbor, Asaba, or elsewhere in Nigeria is definitely a good investment. The land is one of those assets that appreciate in value over time, which also makes it great for resale purposes. The question now is: what kind of land should you invest in?
There are many different kinds of land available, so finding the right one that will suit your needs is important. Land use is also given strict importance by local governments so you should make sure to utilize your land according to what is allowed by official policies.
One of the questions I ask my client is what Location are you looking at? and what is your budget, so we give them premium satisfaction.
Here are some of the more common types that you could consider for purchase with the help of a professional real estate agency.
RESIDENTIAL LAND
As the name suggests, residential land is a type of real estate that is meant to be used for private housing. Depending on the land size, residential land can accommodate single-family units or multifamily homes. You can invest in the former if you’re only interested in building your own house, while the latter is the best option if you are looking to get into residential property development, such as apartments and condominiums.
Meanwhile, when looking at residential land for sale, it is crucial to take note of the local laws around it.
Let me explain, some communities have some laws guiding their lands, this may vary for every location so make sure to consult with your real estate agent about this. They may place restrictions on the use of land due to the culture and traditions there.
Or if they have a Mapped outbuilding plan of the community which may include the size and height of the building, the lot area where the structure is going to be built, the proximity of the buildings from each other, as well as any other facilities or implements that you may want to add.
COMMERCIAL LAND
This type of land is meant for business use, which covers a wide range of categories, including office buildings, mall malls like fresh Mart, other shopping centers, industrial properties, eateries like New Mandarin, Crunches and even You can include Event Centres too. You can use this land to put up and establish your own business compound exclusively for your company’s use, or you can subdivide it into sections to be subleased to tenants for commercial use. The return of investment from a commercial land or property is, therefore, more immediate, especially if there are tenants actively leasing the place.
INDUSTRIAL LAND
If you’re in the business of manufacturing and producing goods, this is the type of land that you need. This is usually a lot bigger in size as compared to usual commercial properties. The expectation is that there will be a lot of space required not only to accommodate the different modes of production, but also the machinery and other equipment needed to produce the goods. These types of land should not be too close to densely populated areas so that the cost to profit ratio becomes manageable.
Agencies like BRACHAVI GLOBAL VENTURES can assist you in finding the right kind of land and property in and other areas nearby that would be best suited for your investment needs.
For more information kindly call or WhatsApp 08131169310
