A lot of people ask, “When should I buy? What part of the real estate cycle should I buy in? Should I buy in a down market? Are the values going to keep going down? When should I buy and where is the cycle right now in my area?”

But these are the wrong questions – it’s not “when should I buy?” The real question is “where and what should I buy?” Y[b]ou should always buy now.[/b]

There is always a place, somewhere in Nigeria that is either appreciating in value or is an undervalued market. And the reasons may be good road linkage; it may be demographics, bad roads, or it may be related to its location.

Maybe it’s because the population is growing in those areas, or maybe it is in a town where a large industry is moving in. For example, there are towns where large companies are moving into, creating a large number of new jobs which creates a need and demand for more housing {purchase and rentals}.

Those are a few things to look for in a good market.

You may want to find the biggest possible ratio. That means you want to look for areas with lower prices and higher rents. There are areas where you can find low prices and there are areas where you can find high rents, but there are usually only a few areas where you can find both low prices and high rents. Those are the areas to take a close look at.

But it’s possible to find property that will give you both if you know where to look. Rather than waiting for the market to be right, find the right market and the right deals to buy.

Sure, I would like the houses to be 10 minutes from me, but I’d rather buy in better markets as long as I can solve the problems of being an absentee landlord — which is easily accomplished using a competent full-service property management company and top real agents {Visit www.propertyvendoor.com.ng to search for properties listed by Top Agents in Nigeria}. Always remember, “Live where you want. Invest where it makes sense!”

http://propertyvendoor.com.ng/when-is-the-best-time-to-buy/