Build/Buy New Building Or Renovate Old Building? - Properties (2) - Nairaland
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| Re: Build/Buy New Building Or Renovate Old Building? by Natudu: 10:05am On Jul 28, 2011 |
Brabus, U say dis one na terrace or abi extra terrestial? Na for where tenant go hang im cloth wen e don wash finish? For where e go throway water? Jokes apart, co-sharing will be a serious issue with this type of inhabitation even with the so-called ''big boys''! Naija people need some kinda privacy and space to themselves, no matter how small. But i like the picture scatter shaa. More, abegi! |
| Re: Build/Buy New Building Or Renovate Old Building? by brabus(m): 10:12am On Jul 28, 2011 |
^^^One man's perspective. Let's have you view on terrace apartments. But Natudu, there are provision for those things you mentioned o. |
| Re: Build/Buy New Building Or Renovate Old Building? by rastaman20(m): 5:12pm On Jul 28, 2011 |
more piont please, clear those doubts. |
| Re: Build/Buy New Building Or Renovate Old Building? by jlyricist(m): 6:57pm On Jul 28, 2011 |
Natudu: Lol @ where dem go hang cloth!! As big boys/girls concerned, dryer go dey for d laundry now  Seriously sha, I agree with you on d privacy thing, however having said tha, what do u guys think of the high rise concept (the one designed properly with structural engineering considered!) |
| Re: Build/Buy New Building Or Renovate Old Building? by Fhemmmy: 7:13pm On Jul 28, 2011 |
I love that terrace apartment . . . . but have to be for people that would be able to pay for it |
| Re: Build/Buy New Building Or Renovate Old Building? by rastaman20(m): 9:08pm On Jul 28, 2011 |
That terrece are cute, surely there are people that we pay for that. all depend on the location of the building. People dont need to hang their cloth outside , any person that buys or lent one apt from that building can afford a washing and drying machine. Talkless of lightoff, cause a sort of energy have to in place, which means constant electricity,24/7/12. This things has to be put into consideration too. And dont forgate a very good management of the whole envoriment too, whereby a cleaner, gardener and securtiy agency are involved to make the whole building worth living. |
| Re: Build/Buy New Building Or Renovate Old Building? by Natudu: 7:02am On Jul 29, 2011 |
Put all those costs together and the big boy can conveniently rent a duplex somewhere else with it. The main concern here is that the same class that could like and afford these luxuries(24 hr power, machine washing and drying! security, gardener etc) are the same set that would also like space and privacy. My fear is that community living or glorified face-me-i-face-you may not work in Naija. Where they exist, there will be a near zero percentage of willing clients. There are many furnished apartments in Ikoyi in particular but they are almost always rented by top companies who pay top dollars for them. |
| Re: Build/Buy New Building Or Renovate Old Building? by brabus(m): 7:34am On Jul 29, 2011 |
^^^Terrace apartments offer more that what you just mentioned. Privacy - just try visit one of the terraced flats in Oniru and Solomon close, VI and you'll understand what am talking about. Instead of the single family building and the conventional 4 flats that we are used to, why not change style and look into a more functional designs. |
| Re: Build/Buy New Building Or Renovate Old Building? by blank(f): 9:56am On Jul 29, 2011 |
I have seen all them terrace houses and i CANNOT live there for any money in the world. I would rather take that money and rent a duplex in Phase 1. Its just a glorified face me i face you. No matter how much the service company puts into making it private, its still too open. I cant stand not having space for my kids to run around in cos everywhere is parking space. Can't stand someone coming to knock on my door that i should move my car so he can park somewhere. Can't stand not being able to leave my curtains open if i so choose. Then, if God forbid, u have a cantankerous neighbour, wahala don start be that. I used to live in a terrace estate in Abuja with my family. When it was just my family and our immediate neighbour, things were great. By the time others started moving in, no one told my dad to sell and move out. Can't stand that feeling of suffocation or really annoying neighbours. Terrace houses should be in the projects. That is my own 50kobo. 2 Likes |
| Re: Build/Buy New Building Or Renovate Old Building? by brabus(m): 10:27am On Jul 29, 2011 |
Very good point! Noted!! |
| Re: Build/Buy New Building Or Renovate Old Building? by blank(f): 11:05am On Jul 29, 2011 |
. |
| Re: Build/Buy New Building Or Renovate Old Building? by brabus(m): 11:20am On Jul 29, 2011 |
Madam, actually there's no right or wrong point of view - our thoughts make it so. One man's fufu is another man's Akpu |
| Re: Build/Buy New Building Or Renovate Old Building? by Select(m): 2:54pm On Jul 29, 2011 |
brabus: @ Brabus, good work here! U can get across for the processing of your Building Plan Approvals, Titled Documents( C of O, Governor's Consent, Ratification cases etc), within Lagos and Ogun States, as well as in Abuja. I work as a Town Planning Officer with the Lagos State Government. U can reach me via- select500@yahoo.com Cheers! |
| Re: Build/Buy New Building Or Renovate Old Building? by rastaman20(m): 3:09pm On Jul 29, 2011 |
Noted and learning as well. I always point out location on this type of bulidings becuase of the type of people involved. Once the buliding is located in a very good area, alot of people will go for it. Give it a try. |
| Re: Build/Buy New Building Or Renovate Old Building? by atasteve: 3:34pm On Jul 29, 2011 |
Natudu:  You are so funny.I love the pix and considering the levels of the guys (Big boyz and girlz) that will be living there, wahala will be minimal. |
| Re: Build/Buy New Building Or Renovate Old Building? by brabus(m): 5:09am On Jul 30, 2011 |
Terrace apartments enhance existing interactions and facilitate new ones between and among residents. For me, I prefer a collaborative environment that allows inter-relationship to living alone in a mansion like a prisoner. This explains the reason why we sought estates - we could have as well sought acres of land in the thick in other to get some privacy. Life can be boring atimes when you're all alone. Another point to reflect on |
| Re: Build/Buy New Building Or Renovate Old Building? by Natudu: 6:52am On Jul 30, 2011 |
@Brabus, Good morning. Do you happen to have any picture of a naija terrace building? I am actually thinking hard about one of such- for investment purpose shaa. But guy, there is nothing like living and sharing your own little space with your family. I have done that for a couple of years and i won't give that up for any ''collaborative environment''. Anyhow, I still ''collaborate'' with my neighbors too. For investment purpose, terrace apartments make a lot of sense but i maintain that the clientele would be predominantly quick movers living like in an extended stay motel. |
| Re: Build/Buy New Building Or Renovate Old Building? by brabus(m): 6:56am On Jul 30, 2011 |
Correct! I'll post pics of Naija terrace flats pretty soon. Bad internet connection here. |
| Re: Build/Buy New Building Or Renovate Old Building? by brabus(m): 7:04am On Jul 30, 2011 |
The Plus of building a Terraced Flats 1. Terraced flats cab generally be built on less than than an equivalent number of detached or semi-detached homes. 2. As a result of the point above, it makes more sense to invest in terrace flats for commercial purpose as they are more suitable for high density developments. 3. Terraced flats are built updwards and are better way to maximize land use than cramming rooms onto 2 floors. More + later |
| Re: Build/Buy New Building Or Renovate Old Building? by rastaman20(m): 5:03pm On Jul 30, 2011 |
Keep them coming |
| Re: Build/Buy New Building Or Renovate Old Building? by dayokanu(m): 6:28pm On Jul 30, 2011 |
I am against renovating cos you are stuck with the old foundations and probably design and layout |
| Re: Build/Buy New Building Or Renovate Old Building? by brabus(m): 6:30pm On Jul 30, 2011 |
I love this new topic. |
| Re: Build/Buy New Building Or Renovate Old Building? by spyder880(m): 6:57pm On Jul 30, 2011 |
This new topic is more apt, it will surely draw more trafic, my man Dayokanu is already here. |
| Re: Build/Buy New Building Or Renovate Old Building? by shopclue: 5:05am On Jul 31, 2011 |
brabus: Good work you're doing here. But since you said we're here to learn and share views. I want to comment on your number 5. point. I think it depends on the level of remodel that is done on older homes. The location, proper permits, integrity of the builders that did the renovation and the tenacity of passion of the dream-maker. I mean the home-remaker, the home owner. The biggest advantage of renovating has always been location, established neighbours, facilities, etc. You know what you are getting every morning you wake up in Mile-12 environs, same goes for Ogba, or Raymond Njoku, Awolowo Road, etc. There's no photoshop, no gimmicks, no surprises. You can predict, to a large extent what you're in for. You know the mood, swings, the energy, habits and tastes of the area. Let us assume now, that Mr/Mrs X wishes to buy an old home along Awolowo Road, or Opebi, Toyin, Allen, Adeniran Ogunsanya, etc, etc,. He/She renovates and brand the front, and do a total gutting of the building giving it new appearance, class, sophistication, engages a team of professionals who did not cut corners. Result: Mr/Mrs X now have a superb re-fashioned/designed building at the exact location of their choice. The damage to their pocket is minimal. What happens here is not just about the money, it is the satisfaction of a dream come true. They are located where they want to be, with the type of people that is good for their business, safe for their business, and have the mood for their business. Example B: Miss Modern and "it better be new or forget it" wants the same dream, she buys a building in one of these locations and tear it down to the foundation, re-building it to her taste, everything brand new, same design as the renovated one. New wires, and all the trimmings. Built exactly like the renovated one down the road. She engages the same professionals who do not cut corners. Project completes, both Mr/Mrs X and Miss Modern and "it better be new or forget it" goes back to the boardroom, and the bank asks to see the left-overs on everybody's account. Now Diya Fatimilehin, another professional was called in to access the value of the two buildings. And to market it to see what the returns will be. What do you think the result will be? A profit for Ms New or Loss? Will she get more money because she uses new cement, block, new trimmings, wood, new chandeliers, columns, etc? But Mr X's building have same features, if not better. But let's not go there yet. Can we honestly, without a shade of doubt, give an investor a rock solid guaranty that a buyer will pay N100-N200Million more for a building in the same location, looking exactly the same way, structural integrity exactly the same as certified by the best brains in the game? Let's face it, our modern men have amazing technology in the way of building now and can do amazing things with new construction, but there are some old buildings that just won't quit! The materials, the superior craftmanship during a time when aesthetics was just as important as function, the value, quality and beauty will be a real challenge to replicate. It will cost a fortune! I have proof to back it up and I really know what am talking about new vs old here. Sometime ago we tore down part of a building and the effort it takes to demolish it is so much, I secretly wonder if the new materials, blocks/bricks, iron, etc., can match the durability of the old one considering the modern pass me down watery dilute they give us these days. |
| Re: Build/Buy New Building Or Renovate Old Building? by shopclue: 5:06am On Jul 31, 2011 |
It really all depends on what the home-owner is looking to achieve. If you want definite results, you may need to buy older homes somewhere, do your homework and let the professionals handle their business before you part with a dime. Determine with software the level of renovation and rough estimate of costs. Determine if what you want can justify the purchasing cost and renovation costs. If your need cannot be compromised. Then it may be best to go for older homes at the exact neighborhood of your choice. If you can afford to be flexible, then building from scratch has tremendous reward. Like OP said, watching it unfolds can be extremely rewarding. Just do analysis of expected neighbors well, because no matter how we try to act like once we lock our gate, we don't care what the next home does, it's really not true. You may build a mansion somewhere and the next site owner will erect 24rooms tenement buildings beside you and the mood of the area will change instantly! Imagine, will the face me face you tenants even bother about flower plantings? Curb appeal? Painting their walls? Repairing the gates, weeding the front of their house and making it look like a human being lives there? I mean those little things that makes a neighborhood welcoming and appealing. Add that scenario to Iya ibeji elero ata coming to set up shop two houses away from you. Btw, she sells puff-puff and moin-moin too! So you drive in and out of your house everyday enjoying the display of moin-moin leaves littering the streets, and of course no need to set alarm by your bed anymore as the friendly noise from her ero-ata caresses you out of sleep every morning. Hey, she even soothes your nerves and rock you to sleep with her last customer by 9pm at night too! |
| Re: Build/Buy New Building Or Renovate Old Building? by shopclue: 5:54am On Jul 31, 2011 |
Same can be for the many tenants in a single location. Few bad eggs will stand out and pollute the mood of the environment. I did a house/land hunting at one time in Lagos and a property guy took me somewhere really nice. He's so sure I will be pleased with the property. And I was. But on the road to the house we visited was this woman selling moin-moin with charcoal stove. She has those types of make-shift wooden stalls with iron roof. I noted this inwardly as we drove to our destination. I noted some other stall owners selling slippers and all that. I paid attention to other homes in the area. The types of homes tells me all I need to know about the people that lives there. I made up my mind before we got to the property that the area is not where I want to come back to everyday, where I will love to call a home. First, too much crowd, secondly, the type of crowd. Third and major reason, undue competition and bad blood that will surely arise, cause they will feel you are a snob if you don't want to mingle. And if you do mingle, you just never know what you may say that will be out of line or look like you're showing off. Or the feeling they make you feel just because you ride a particular darn car! I hate being a local champion, or any champion at all. I don't like to stand out where I call a home. I just want to disappear into the crowd, because other people have what I have, even better than I have. So no need to give me a second glance when I stroll. When they say Hello, it's just because they really want to, not need to. 1 Like |
| Re: Build/Buy New Building Or Renovate Old Building? by brabus(m): 7:34am On Jul 31, 2011 |
^^^Excellent piece! To add to it, Mr. B (Brabus) is already regretting the decision to site his house in the location where it was. My house now happened to be the most expensive, beautiful, solid, well crafted house in the locality. Am Alone said something about this sometimes ago. I've had to part with my money to do road, erect electricity poles, drainage construction and even give facelift to some of the houses in other to step close. If I had to do it again, I'll have a rethink. LOCATION is king! |
| Re: Build/Buy New Building Or Renovate Old Building? by brabus(m): 7:40am On Jul 31, 2011 |
Let's have your view! |
| Re: Build/Buy New Building Or Renovate Old Building? by Natudu: 8:00am On Jul 31, 2011 |
Need we say more? Location is indeed king. But like most good things, it comes with a huge price. I like to buy plots around semi-developed areas where you can see the unfolding class and determine if it suits your needs. Buying such plots or houses would pinch your pocket but you'll get to appreciate it in the long run. |
| Re: Build/Buy New Building Or Renovate Old Building? by spyder880(m): 9:23am On Jul 31, 2011 |
For me, location is king if am hunting for a commercial property, but when its a place I will live, I can choose anywhere like the bush I am currently building. I hated the thought of getting too close to the road with all those long trucks blaring their rude horns and seeing ladies of the night walking along my front gate, what about those worship centres and their loud speakers forcing you to listen or the music sellers making sure you will not have a decent sleep? Since I started my house some other important people has started buying lands around me. The price of a plot in that neighborhood has jumped from the N600k I paid for it last year April to N1.5m now. Location matters but not to every buyer, a client once told me he is in love with nature and will want to live in a place where he can still hear the chirpping of birds and the cry of other animals. |
| Re: Build/Buy New Building Or Renovate Old Building? by Sike(m): 9:45am On Jul 31, 2011 |
dayokanu: |
| Re: Build/Buy New Building Or Renovate Old Building? by brabus(m): 9:56am On Jul 31, 2011 |
@Spyder880, you lift my spirit this morning with your comment. Thank you! Come to think of it, those beautiful location we were talking about were once a bush. |
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