This is on behalf of a retired couple - both over 65 years old and pensioners.
They currently own a 5-bed twin Duplex on a very busy high street in a Lagos suburb.

This was put up for sale a few months ago due the the rapid development that the area has witnessed in the last 10 years
A Bank is in the process of paying N50m for the property and the folks are shopping for new accomodation.
It is their intention not to exceed the N20-25m mark in getting a new place.

One option that has been given to them is to purchase a plot of available land in Santos Layout (Akowonjo area) and build a 4-bed bungalow. The proposer of this idea says all this (land and construction) will cost less than N20m (The proposer will be the builder if his suggestion sails through)
The land will be bought for N12m and the building will cost N5m to put up

I on the otherhand will tend to disagree with this pricing (I stand to be corrected).
My own thinking tends to gravitate towards buying and renovating rather than outright build (I have considerable infleunce in deciding what gets done - Dont ask me why )

Now, my reason for posting this up here is that I want suggestions from the esteemed contributors to the properties section in terms of locations to buy and renovate a decent property.

As I said, I wield considerable power in convincing the couple on what to do. Some of the key deciding factors would be the neighbourhood (preferably a gated estate) and the type of structure.

In my brainstorming sessions, I have come up with some property ideas
4-bed flat in Glover Estate, Ebute Metta - N14-16m to buy
4-bed in Ogba/Ijaiye medium cost housing estate - N11m-14m

I would appreciate more suggestions as well as follow up plans to add to the above
Estate agents, please rise to this opportunity and prove your mettle
LAWYER et al, Expecting your most valued feedback

Thanks
Shagati

Shagati:

Now, my reason for posting this up here is that I want suggestions from the esteemed contributors to the properties section in terms of locations to buy and renovate a decent property.

As I said, I wield considerable power in convincing the couple on what to do. Some of the key deciding factors would be the neighbourhood (preferably a gated estate) and the type of structure.

In my brainstorming sessions, I have come up with some property ideas
4-bed flat in Glover Estate, Ebute Metta - N14-16m to buy
4-bed in Ogba/Ijaiye medium cost housing estate - N11m-14m

I would appreciate more suggestions as well as follow up plans to add to the above
Estate agents, please rise to this opportunity and prove your mettle
LAWYER et al, Expecting your most valued feedback

Thanks
Shagati

I have lived in the Ogba Medium estate since 1988. . .It is gated, secure and peaceful.

For a couple of that age, it would be a nice retirement home.

If you can get a property there, it would be a steal!

Cheers.

Woundn't want to spend time telling you the advantages or disadvantages.

If you are really sure this is for those old retirees, pls just buy within a well serviced and secured estate if you can get for that price. But be sure your are dealing with the right people. Would have recommended some, but its in the island and far above your budget.

Spare them the agony of going through the rigours of construction.

Most importantly, dont just buy any house anywhere, make sure its within a secured and well-serviced estate

Best wishes!

Invaluable contributions! ! !
Many many thanks! ! !

ahonohai:

I have lived in the Ogba Medium estate since 1988. . .It is gated, secure and peaceful.
For a couple of that age, it would be a nice retirement home.
If you can get a property there, it would be a steal!
Cheers.

Hey Aho,
I quite agree with you on the qualities of the Ogba med. estate. It would interest you to know that they actually own a property there (4-bed flat) which is currently rented out. My thoughts were to retain the existing flat for rental income, buy another one and tart is up as much as possible to suit their own tastes and MOVE IN!

I'll put some more pressure on the agent working to locate one

Thanks for your feedback

design5:

Woundn't want to spend time telling you the advantages or disadvantages. . . . . . Would have recommended some, but its in the island and far above your budget.
Spare them the agony of going through the rigours of construction.
Best wishes!

Very well said re: agony of construction. My thoughts EXACTLY!
Please go ahead and recommend the Island ones you have access to. You never can tell now. . . . . ! Someone else might be interested

Thanks

@ Rare,

Nice talking. Will call you back @ around 13h00

Cheers

Design5

I still await your recommendations

Thanks

I have already given my recommendations.

If it is your property, I would have advised you to get a land and build to your taste.

If you get a good offer within a well serviced and secured estate. Buy. But make sure everything is genuine. Never trust anyone when it comes to properties. They all have sweet mouth. (Agents no insult intended).

I just finished a renovation for an old lady along Agege motor road. It is a Lagos state built estate. The finishing is poor but redicoulosly cheap. We spent some extra money bringing it to her taste. All in all, it was highly worth it.

If you can get from any of this lagos built estate, its really worth it.

But have it at the back of your mind that, you will have to spend some extra money in bringing any house you buy to your taste. So add it to your total cost

As regards lekki here, we are presently developing some estate. But they are all sold out. We finished selling even before laying a block. People trust us because time and again, w've always delivered.

I cant recommend any house or property to you presently. I can only evaluate and advise

I dont sell houses.

I design and construct houses including renovations. I believe in professionalism and would like to keep it that way.

But incase you get a good offer. I can assist you in assessing the building for free.

Best Wishes!

However

i have a better advice for you i believe in give and take , call me , it could change your life for the better

2348037937181

A storey building of 4 flats, 3 bedroom each, fenced with paved compound with overhead tank & borehole water supply. Located at Alagbole, good proximity to main road, Alagbole-Ojodu road. Price- 16m. Valid documents with good title. Direct contact with owners. Call Rotimi-07063726095, 07090841910.

Why not urge them to come into Abuja. The property market here is not bad. Their properties have been covered by the laws of AGIS and for that amount, u'll get just what u need.

Shagati:

@ Rare,

Nice talking. Will call you back @ around 13h00

Cheers

Your number is no longer going thru why?

plus when would you be coming for inspection?

If your client is interested i have plots of land at itedo close to lekki 2nd roundabout which are 16m and 20m. 08023178323

One of the most cheapest & secure Landed Estate in Lekki as at today is:
DOMINION GARDEN CITY (DGC), Awoyaya-Lekki, Lagos & is fast selling.
Situated within the neighborhood of:
*May Fair Gardens
*Lakowe Lake & Resorts
*Fara Park Estate
*Crown Estate
*Sapphire Gardens Estate
*Lagos Business School
*Green Spring Schools &
*Lekki Free Trade Zone
UNIQUE FEATURES:
*Sandy Dry Land
*C of O
*Government Approved Layout
*Good Road Networks
*Central Sewage Treatment Plant
*Security, Gardens & Parks
*Central Water Treatment & Distribution System
*Sport Centre
*Club House
*Shopping Centre
*Clinic &
*Schools
PLOT SIZES & PRICES:
(10,000 per sqm)
450sqm = 4.5m
675sqm = 6.750m
900sqm = 9m
Site inspection takes place:
8am, 10am, 12noon, 2pm & 4pm Mon - Sat
For more info, contact DARE
+2348053690928
+2348095018095

With 25m you can get yourself a full house so why go for a flat?

The property market is actually a buyers market. Don't be taken in by all the hype and the grossly inflated prices - the fact remains that there is a severe lack of purchasing power in Naija and the percentage of the population who can come up with the several millions needed to buy anything is small and falling. Several people put up houses for sale, languish for months without getting a nibble, then sell at the best price they get. I know someone who bought a 3 bedroom two storey building somewhere off Masha in Surulere for 15 million earlier this year. Good condition, just required painting and a bit of renovation here and there.

I also know of another property in Maryland (same two storey fully detached residential building) that was put up for 36 or 38 m asking (I misremember the exact price, and I believe that must have been a comedown by the owner from their original asking price) at around the same time; I heard that it was eventually sold for 22 million. Such deals do abound. I was aware of these because I was looking for something for a cousin who lives abroad, and we eventually got a building in Surulere at 28 million (down from an asking price of 45 million) in April.

Forget asking prices - make your own offers on buildings for sale. This is 2013 and money isn't easy to come by. Old buildings have usually been amortised ages ago and wise owners sell at values that are way beyond what they purchased them, even with allowance for inflation. By way of example, my brother and I have decided to sell a property owned by my late father in the east that he bought for a few thousands with an ACB loan in the 70s. It's in the city centre and the average valuation we got for it from 3 different estate valuers is 48 million. We decided to put it up at 45 million and to sell it at a minimum of 30 million or best offer.

Look around well and don't be in a hurry, and you'll get something good, especially at this end of year period.The only snag is that you'll have to deal mostly with the local street agents, who can be a very trying bunch to deal with, but they usually have info as to deals available and can sometimes be useful, but you'll need a huge helping of patience and longsuffering to deal with them. Best of luck.

Cyberknight: With 25m you can get yourself a full house so why go for a flat?

The property market is actually a buyers market. Don't be taken in by all the hype and the grossly inflated prices - the fact remains that there is a severe lack of purchasing power in Naija and the percentage of the population who can come up with the several millions needed to buy anything is small and falling. Several people put up houses for sale, languish for months without getting a nibble, then sell at the best price they get. I know someone who bought a 3 bedroom two storey building somewhere off Masha in Surulere for 15 million earlier this year. Good condition, just required painting and a bit of renovation here and there.

I also know of another property in Maryland (same two storey fully detached residential building) that was put up for 36 or 38 m asking (I misremember the exact price, and I believe that must have been a comedown by the owner from their original asking price) at around the same time; I heard that it was eventually sold for 22 million. Such deals do abound. I was aware of these because I was looking for something for a cousin who lives abroad, and we eventually got a building in Surulere at 28 million (down from an asking price of 45 million) in April.

Forget asking prices - make your own offers on buildings for sale. This is 2013 and money isn't easy to come by. Old buildings have usually been amortised ages ago and wise owners sell at values that are way beyond what they purchased them, even with allowance for inflation. By way of example, my brother and I have decided to sell a property owned by my late father in the east that he bought for a few thousands with an ACB loan in the 70s. It's in the city centre and the average valuation we got for it from 3 different estate valuers is 48 million. We decided to put it up at 45 million and to sell it at a minimum of 30 million or best offer.

Look around well and don't be in a hurry, and you'll get something good, especially at this end of year period.The only snag is that you'll have to deal mostly with the local street agents, who can be a very trying bunch to deal with, but they usually have info as to deals available and can sometimes be useful, but you'll need a huge helping of patience and longsuffering to deal with them. Best of luck.

Hi,you seem to be very knowledgeable in Ppty Biz.There is a one storey building that was give to us(my partner and I)to sell but we seem to be finding quite challenging getting it off the market.Pls what can we do?

Their age means a lot cos u need put into consideration a less noisy and not so busy area. That space matters cos they will need fresh air so they must have the compound to themselves. A duplex or bungalow I recomend depending on the area that match your budget but make sure it has good accessibility

Buy them a good land,build a 4flat on it or build a semi detached duplex and build 2nos of 3bedroom flat on the other side. Since they are retiring, let them use the rents of the flats to maintain the duplex. Then the balance of the 50 can go on other things like cars for their comfort and fixed deposit or a daily income business for their upkeep. If you like my advice, then I win the bid in building for you. We Design and Build. Hive Integrated Services. Call 08187530102 for more info