It can be frustrating going months or even years making only a couple of sales. In a worst-case scenario, no sales at all.



It can be demoralizing especially when you are doing everything right (or at least feel like it). Doubts start to creep in, and You start to wonder if this was destined to be. Would a different business bring more good fortunes?

It’s normal, in fact, it’s even human to doubt your capabilities. However, what separates the losers from the highflyers is the ability to push through those doubts. Sales is not a walk in the park, especially in real estate. Convincing prospects to invest millions in properties can challenging. It takes time, energy, and patience to get acclimated to the nitty gritty of selling real estate.

Approximately it takes 80% of new realtors to take at least 5-6 months to record their first sales. This makes Having the right mindset and motivation a necessity. Trust me, everybody passes through dry spells. Even the G.O.A.T's have several forgettable seasons. Even the Greatest of all time is not exempted from bad days

MOTIVATION IS NOT VOODOO
When new realtors hear the word” motivation”, they assume it’s an instant cheat sheet. Having such high expectations can be counterproductive. It can delay your success and might lead to depression.

Here is a list of what motivation is not

Motivation is not a Benjamin franklin guide to 100M sales in 1 month
Motivation is not a strategy
Motivation would not reduce your learning curve
Motivation is not a cheat sheet for making millions in real estate.
Think of motivation as a battery. It won’t write a record-breaking JavaScript code. But it would keep your power on long enough for you to figure it out yourself. Staying motivated keeps you in the game. They are routines we develop within ourselves that enable us to meet goals. Success in real estate requires constant and sustained effort. The sales process is elaborate. From Spending countless hours prospecting and reaching out to clients to filling out paperwork and so much more.

It can be overwhelming, however, here ARE TIPS TO HELP YOU STAY MOTIVATED IN YOUR JOURNEY AS A REALTOR.

Look for purpose
The purpose can be defined as “a significant reason beyond the immediate for doing what you do.” Pursuing a career without a purpose is like playing soccer without a goalpost – it’s meaningless, right? Having a strong purpose keeps you in check. It provides a reason to Wake up in the morning, ready to take extra steps toward victory.

One way to materialize your purpose is to use a vision board. Vision boards contain pieces of your specific dreams and aspirations represented as images. Affirming the dreams on your vision board daily acts as a very good motivation boost.

Having a purpose for doing what you do is essential for success.

Find motivation in others
Feeling down? jumpstart your motivation from your successful colleagues. If it works for cars, it probably works in sales, right? …kidding. But the success stories of others can be a powerful motivation.

Aside from motivation.. success stories are a great insight into strategies. It gives you an insight into what works and what doesn’t. You Learn from their mistakes and double down on their success.

Make a list of your favorite real estate professionals you admire, and spend some time researching and learning from their success stories. If you are in a real estate team, you can have direct access to high flyers in the team.

It is easy for the ego to get in the way but trust me, it’s a frivolous emotion and should be cut out.

Establish a routine Plan ahead
What your week of activity will look like, write it down, and stick to it. For example, you could plan that on Mondays, Wednesdays, and Fridays you’ll spend 2 hours prospecting each morning and that on Tuesdays and Thursdays, you’ll spend 2 hours reaching out to contacts you haven’t reached out to in a while.

Routine makes things orderly and lives little room for guessing. When you stomp on a winning routine, you can have your result on autopilot.



Recommended reading: How to become a real estate agent with PWAN



Activities vs Result
It’s easy to get sucked into a wormhole of regret when calculating ‘‘sales made vs money spent”, especially in the initial stage of your career. Focusing on the activities that aid sales rather than worrying over past results keep you energized

When you do things right naturally results will come.

For eg the PWAN system has several ways to earn even without selling. Recruiting downlines gives you access to indirect commissions. Focusing on activities that grow your downlines would be lucrative in the long run.

Determine your daily, weekly, and monthly activities. Determine your lead generation strategies. Cold calling days vs physical prospecting routine. Determine days for office visits vs home visits. tweak your strategies, do more of what works and remove what doesn’t.

Self Care
Sometimes staying motivated when working comes down to prioritizing your personal needs, like exercising, eating healthy meals, and getting enough sleep. You’ll be better positioned to take care of your real estate business when you take care of yourself.



Join a Winning team.
This is now a trademark recommendation for us in this channel. And why not? joining a sales team can accelerate your growth. It also reduces your learning curve because you get real-life insight into what works and what doesn’t.

Iron sharpens iron. Being part of a winning team puts you in the middle of success, which will surely rub off on you. You will be constantly motivated and inspired to give your best.


Conclusion
Sales is a grueling physical activity. It takes time, effort, and dedication to succeed in sales. Selling real estate couldn’t be any easier. However, if countless professional realtors can do it…so can you.

We have over 20k realtors in Nigeria signed under PWAN and you can be one too. We go the extra length to empower our realtors to achieve their dreams through being a part of the system.

Most people naturally are resistant to networking business/ MLM especially Nigerian

Do you blame them?

In most cases, this is the result of a bad experience with a fraudulent company that overpromised and underdelivered.

Despite not engaging in outright fraud, these companies created an impression on the business that has left many resistant to new opportunities. As networkers, this presents a stumbling block.

5 out of 10 people you prospect would run the other way with the mere mention of MLM (multi-level marketing)/networking business.

It is common to hear” scam”,” it does not work”,” too stressful”,” waste of time” or other responses when prospecting. Successful networkers are always refining their strategies to push through this mindset

Real estate Network marketing is a lucrative business. As such it requires hard work, perseverance, and commitment to succeed.

However what if the journey to the top could be simpler?…..yes, simpler.

Imagine a world where you don’t chase after leads but they come to you. Rather than going after leads one at a time, you can be recruiting in mass.

Anybody selling a cheat code that can take you to the top in months is probably selling fiction. Like any business, there are time-tested strategies that will give you an edge when implemented.

I will be sharing some of the best strategies that I have used personally, in recruiting till today. If you want to scale your networking game and recruit more downline then stick around

WHAT IS NETWORKING MARKETING
According to Forbes Multi-level marketing (MLM), also known as direct marketing or network marketing, is a method of selling products directly to consumers using independent sales representatives.

Companies that adopt network marketing rely on the extended network to sell their product rather than opening an office and employing thousands of staff.

Success in the networking business relies on recruits commonly called downline.

in PWAN Nation, A portion of the commission is attached to you when any of your downlines makes a sale. Every company different model of network marketing but at the core, all MLM business thrives on recruitment

Recommended read: how to become a real estate agent with PWAN

REAL ESTATE NETWORK MARKETING IN THE PWAN GROUP
PWAN GROUP is a real estate development and marketing company that has successfully integrated the network marketing model into its operation. PWAN GROUP has adopted its MLM model known as the PBO (PWAN BUSINESS OWNERS).

In the PBO system, networkers are open to world opportunities. A system where you earn commissions from sales, recruitment, bonuses, trips, etc.

To understand the PBO system, think of a pyramid and imagine yourself as a recruit. You are open to a multitude of real estate assets to sell — landed property, investments, and buildings.

Each direct sale comes with a commission of 15%. As a new recruit, you can register more people into your team. Sales from your team members reward you with a commission of 5% per sale

Furthermore, there is also an opportunity to earn up to the 4th level. This is all different from the incentives that come with being a part of the business.

To be a successful networker, recruitment should be a major part of your business. Not only does it guarantee your success now, but it also ensures your income well into the future.

HERE ARE THE STRATEGIES
Through My 5 years of operation in PWAN in real estate network marketing, I have seen complete nobodies turn into trailblazers. Earning multiple accolades and incentives that come with it.

I will be sharing the same strategy used by these people to recruit 100 of downline which helped catapult them to stardom

click https://pwanmax.com/blog/real-estate-network-marketing-tips-to-recurit-more-downlines/ to continue reading

How many times have you been in a ” what I ordered” versus ” what I got” situation?

These situations could have been easily avoided if you had a proper video of the item before payment.

Picture rarely tells the full story, especially in real estate. They fail to capture the mood, tempo, environment, neighborhood, etc that are often of interest to potential clients. Every successful realtor has video marketing at the core of their marketing strategy.

In today’s era of social media era, the importance of video cannot be over-emphasized. New platforms such as youtube and TikTok rely on only video content. We suspect that future platforms will focus on videos as well. This means anybody seeking success in real estate must adopt video marketing.

WHAT IS A REAL ESTATE MARKETING VIDEO?
there are several real estate videos a realtor can produce. For a video to be tagged as a marketing video, it should have some form of selling.

A real estate marketing video is any video content used to promote a particular property. A video can also be a motivational, testimonial, industry update, etc.

However, any video with selling intent is what we classify as a marketing video

ARE VIDEOS NECESSARY?
A study carried out by quick sprout shows that Real estate listings with videos receive 403% more inquiries than those without videos. From our years of operations, 80% of our high-flying realtors are proficient with video creation and marketing.

Real estate is a capital-intensive sector that often requires deliberation from the client. They seek assurance from a point of awareness towards conversion. Videos serve as a good tool to speed up this decision-making process.

A good real estate marketing Video adds a much-needed professional touch to any PBO ( realtor). For instance, most clients respond positively to property marketing videos of their realtor. Some clients often request live videos on site. This assures them that the property is genuine and that the realtor has visited the property in question. In addition, videos Resolve questions faster. It helps to showcase amenities, landmarks, and it also helps to cement a personal connection.

ITINERARIES FOR EVERY VIDEO SHOOT
Depending on your budget, location, and property type, every video has its peculiar preparation that makes the whole process seamless. Video marketing for already built homes differs from that of landed property. While video a for real estate trading differs from that of lands.

Some of the itineraries include but are not limited to

VIDEO SCRIPT
Every video needs a script. Shooting a video without a script is like trying to build a computer without putting in the code. It’s almost impossible to produce a 5-star marketing video without a proper detailed script. Having your words on paper and reciting a day before the shoot makes the process easier and faster. scripting helps you articulate better. in addition, reduces pressure and the number of reshoots per scene

CAMERA/ CAMERA GUY
Of cause, you cannot shoot a video without a camera, either with a phone or a Digital camera. A camera to a great degree determines how your video will be perceived. A high-quality camera is bound to drive engagement and communicates the message of the video. while a low-quality camera often appears unprofessional.

Video shoot on a high-quality camera drives more engagement and has a higher retention rate. As a realtor, it’s normal practice not to use a camera below canon 4000D. This would ensure good resolution and the best result.

A video is only as good as the man behind the Camera. Realtors are always advised to use creative videographers within budget. Videographers help in prepping the models and finding the perfect camera angle, and audio setting. in addition, they add finishing touches like video editing for the best result.

DRONE
The easiest way to show off landmarks of any property is using drones. When preparing a landed property shoot, it’s good to note that landmarks play a very important role. Landmarks are best showcased with the help of a drone.

Using a drone could be capital intensive, but, they are not cast in stone. You can shoot a professional video that can drive massive engagement without them.

Further reading: https://pwanmax.com/blog/how-to-shoot-real-estate-marketing-video/

You were probably recruited into real estate with promises of riches and freedom. A world of commission (in millions), Car giveaways, international trips, and more. Many new agents join with lots of energy and enthusiasm – ready to hit the streets and start selling. But, only a very small percentage of people get to the promised land quickly. Some might take time, while others would get the short end of the stick.

What separates the highflyers from others might be simple errors when corrected, would make a big difference. Despite having the right mindset, training, and dedication, new agents can be at the risk of errors that can tarnish credibility with potential clients.

This article will guide you on how to avoid these rookie mistakes. We hope to empower you, giving you the stable foundation to start your career as a real estate agent. If you haven’t signed up you can click here on how to become a real estate agent with PWAN. Let’s dive in.

Unrealistic Expectations Without a Plan

We understand the fantasy of closing mega deals; especially after a few months of joining. The thrill of winning a brand-new car, going on all-expense paid international trips and other incentives PWAN MAX has to offer. In reality, it might take a few months or even years to get your first big break. We have witnessed many new agents quitting after a few months when reality didn’t match expectations.

The trick is to set a realistic target and an action plan to pursue it. Consistency is key in any business; new agents must learn to put in the work and have patience for the result to show.

Understand your strengths and weaknesses. Make plans to leverage your strengths and improve on your weaknesses. This will help you to fine-tune your expertise, to stay sharp, focused, and ahead of the competition.

Not Focusing their Marketing Efforts in the Most Effective Areas

Like any other business, real estate has its target audience. This audience has their pattern of behavior: what they like, what they don’t like, Hobbies, interests, where they hang out, etc.

New realtors often seem to ignore these kinds of behavior and interests. They employ efforts marketing in the wrong places due to ignorance, negligence, and low self-esteem.

For long and short-term results, realtors should identify the ideal target audience and where to hang out. Efforts and budget should focus on penetrating these networks and marketing to them

Pro Tip – When you consistently market yourself to your sphere of influence as the Real Estate Agent is supposed to go – then you will get more business. Most New realtors make their first sale from their already existing network.

Burning Bridges after Every Transaction

As discussed in the previous article, (how to maintain a strong relationship with clients) many realtors are too quick on moving onto the next client. Real estate is a world of referral. The easiest deal you could close is from a referral from an existing client.

Realtors should be able to put the needs of clients first and maintain a strong relationship with clients even after closing the deal. Creating such a bond could blossom into a much bigger connection and a bigger benefit for the realtor. So, one real estate agent mistakes should avoid is burning ridges and missing out on long term relationship with clients.

click https://pwanmax.com/blog/7-real-estate-agent-mistakes-make-as-beginners/ to continue reading

Starting a career as a realtor is a lucrative and rewarding business. It becomes pertinent considering the level of unemployment in Nigeria. Selling real estate provides an avenue to earn up to 450k monthly. In addition to financial freedom, you are free from the shackles of a 9-5 job.


Who wouldn’t want that?

Success in real estate is most times determined by the connection you build. Referrals are one of the key pillars of success for real estate agents. Pwan has 10 years of experience working with over 20 thousand realtors ( PBOs) nationwide. Through the years, We have identified building strong relationships as paramount for success in real estate.

In this article, we would be analyzing ways New Realtors can start building relationships with clients. We hope to inspire you to create a meaningful connection with prospects and sell more as a new realtor.

Let’s dive into the strategies in building strong client relationship , the first method to discuss is.

STAY INFORMED

Real estate is a constantly evolving niche. New ideas, technologies, and policies contribute to the current state of the sector.

New real estate agents need to stay informed with the current information in the sector. This helps in delivering accurate information and good customer service to their prospects.

Real estate is a capital-intensive venture. Naturally, prospects would need a lot of information to guide them as they decide on what to buy.

In most cases, prospects still in the research phase would need loads of information and convincing. Wrong or inaccurate information might delay or discourage their buying intent

The ability to provide accurate information will determine the fate of the transaction. As such, realtors would have the responsibility to have updated information. in addition, product knowledge is a huge requirement to avoid misleading a prospect.

The following information should be handy when a client requests them.

Details of payment
size of plots
promo information
Documentation
Building features
Title documents etc


Further reading : How to become a real estate agent with PWAN
Communication IS KEY

One mistake many new realtors make is ”burning the bridge” after every transaction

They consider every deal as a one-off transaction and would cease communication with clients after that.

Some even take it further by ignoring calls and texts from clients after receiving commissions. This is not only bad but it also hurts your chances of referrals in future transactions

Client satisfaction should be the first strategy and it starts with effective communication. Some successful realtors form bonds with clients that exist even outside real estate. These connections and networks can elevate one to higher places beyond just real estate.

Of course, in the quest to establish a communication link, you should not encroach on the time or space of your clients. Connections should grow naturally because when forced, they could be counter-productive.

click https://pwanmax.com/blog/6-strategies-to-build-strong-client-relationship-for-realtor/ to continue reading

Hurray, you just completed your registration as a realtor in Nigeria…what is next?

WHERE DO YOU GO FROM THERE?

How do you start to tap into the multi-millions you were probably promised before signing up?

With 10 years experience, working with over 20,000 realtors, we have seen some agents become highflyers while some, who sign up with much enthusiasm to make sales and succeed, unfortunately, dropping out after a few months.

It’s good to be excited as a realtor. That’s an important factor in selling; because when you feel excited about what you do, you attract positive vibes to yourself -including clients.
An action plan is a necessary route to becoming a success real estate agent. This article will show you how to get started; and different strategies, you can implement to get clients even as a complete novice.

CHOOSING YOUR NICHE
The first thing to do, after signing up, is to decide what type of real estate agent you want to be; what type of real estate product you are marketing.

It can be:

Residential homes
Commercial assets
Landed properties
High-rise building;
Or real estate trading/investments.
Indeed, Real estate is an umbrella term that encompasses different aspects of property acquisition, marketing, and development. As a new realtor, you can decide to specialize in one or more aspects. You need to know that the ease in selling each aspect of real estate product varies across the board; due to the nature of the clientele. Hence, it’s often advisable to start small and walk your way to the top.



For instance, a unit of a High-rise building cost over 400 million naira. It’s more difficult to find high-networth client who will pay such a huge amount than it is to find one that will pay one million naira for a plot in Ibeju Lekki.



Before a realtor can succeed in concluding sales in the high-rise category, he or she will need years of training, education, requisite experience, and would have built a client base. Whereas it might take just a phone call and one site visit to close a deal on landed property. For this reason, realtors are advised to groom themselves on the much easier market, which is the starting point, to build confidence and garner experience.



Let’s now look at strategies you can leverage to generating clients even as fresh realtors.

YOUR NETWORK
Over the years, we have noticed that 80% of new agents sell first, to their already existing network. This is because there is already a bond with the client base. Si, it is easier to sell to them. The best way to start selling is to leverage your existing contact list.

You can achieve this in a couple of ways…

LEVERAGE YOUR NETWORK THROUHGH SOCIAL MEDIA PROFILE
An average Nigerian TEEN has an account on at least one social media platform. According to a report by Statista, there were over 36 million Facebook users in Nigeria, accounting for 16.5 percent of the population; as of March 2022. Overall, 33.2 percent of users are between the ages of 25 and 34 years.

On these platforms, are friends, family members, uncles, aunts, cousins, high school buddies, and colleagues from previous workplaces. cultivate the habit of getting words across to them, about your new venture; you will stand a chance to secure your first client or a referral from them.

TAP INTO THE POWER OF WHATSAPP STATUS
What’s app status is another powerful marketing tool to utilize. WhatsApp status is another means to reach your contact with messages about your real estate brand. It might be a hassle or inappropriate to send a direct message to your contact list. But any mutual contact of yours can see your profile status and view your updates.

GET THE WORD OUT THROUGH CALLS
Another way to leverage your existing network is by simply calling them. A direct conversation allows you to explain more and also get feedback.

2. ASK FOR REFERALS
A referral is the easiest way to close a deal, as a real estate agent. People are generally more receptive to any product when it’s recommended by a friend. How many times have you bought a new item simply because a friend recommended it to you? Many times, I guess. Real estate works the same way. Encourage your existing contacts or clients to refer you to their friends and associates who are looking to buy a home.

click here to continue reading: https://pwanmax.com/blog/1213-2-how-to-get-more-clients-in-real-estate/

Homeownership is the dream of every Nigerian, in some parts of Nigeria ( eastern Nigeria) it is considered the ultimate achievement. However, this dream has eluded the majority of Nigerians. In fact the CBN consensus in 2008 noted a 17 million housing deficit in Nigeria. This housing deficit has risen from 7 Million in 1991 to 17 million as of 2018. This report also noted that Nigeria requires about 700,000 units of houses annually through 20 years to accommodate its rising population.

With the rising population and demand for housing, prices have risen and an average Nigerian ( salary earners) cannot afford a unit of house in Nigeria. For context, a unit of 3 bedroom bungalow in Lagos cost about 15 – 18 million depending on the location. In the east, the price might differ a little, reducing to about 9-10 million. The minimum wage in Nigeria is 33 thousand naira only, this makes it impossible for an average Nigerian earning little above minimum wage to own a home in Nigeria.

Renting of cause appears as the only feasible option. However, the demand is increasing and it’s becoming increasingly difficult to secure quality apartments in many areas of Nigeria.

The question of the day is – With the financial capacity to finance both operations ie. is renting or buying better, which will you go for?

Any Nigeria presented with this option will automatically opt for buying a new home. ”Why borrow when you can own something for a lifetime” is a popular argument many can make. However, in some situations and considering some special scenarios RENTING BEATS BUYING

Are you in these ” special scenarios”?

stick around to find out as we go there renting vs buying pros and cons of each

QUESTIONS TO ASK BEFORE RENTING?


Are you always on the move
One of the instances where renting might be better than buying is when you work as a digital nomad. A digital nomad is Someone who performs their occupation entirely over the Internet while traveling. Where travel is a hubby or a commitment to work, the idea is that you are always on the move. for such an individual, Buying a home and tying down money seems like a terrible investment

Are you planning to relocate
If you are planning to move out of a certain location then buying a home in that same location seems like a terrible idea unless you are buying for someone else.



QUESTION TO ASK BEFORE BUYING A HOME?
What is your risk tolerance ?
Buying a home is an investment and a capital-intensive one at that. just like every investment, it comes with its risk. Before venturing into any investment you have to be financially, mentally, and emotionally preferred, if not you are risking long-term damage.

Can I afford to own a house?
Buying a house does not stop at the cost of the house. Every aspiring homeowner should as well consider the cost of remodeling, customization, repairs, furnishing, etc. turning a house into your dream home comes with extra cost and without it, the true dream is not actualized

Are you ready to settle
There comes a time in every bodies life when dey decide consciously that is ” ITS TIME”

click here to continue reading: https://pwanmax.com/blog/is-renting-or-buying-better-renting-vs-buying-pros-and-cons/

”WHAT CAN I BUILD ON A HALF PLOT OF LAND IN NIGERIA” ?
If you are a prospective investor out there asking the same question, do not worry. In this article, we will be breaking down everything you need to know.

Before we dive into the nitty-gritty of the building on a 300Sqm plot, we have to understand what is a 300sqm plot in Nigeria. In addition, we will also define the appropriate conversion system to help you Quantify what it entails to build on a 300sqm.

The first question is

WHAT QUALIFIES A ”HALF PLOT” OF LAND IN NIGERIA

As straightforward as this question appears, the answer isn’t so defined. Sizes of what is considered a standard plot differ when you move across the different states in Nigeria. These discrepancies in measurements won’t come as a shock to serial real estate investors, it’s more of a norm.

According to the dictionary meaning of a plot: A plot is a marked out piece of land for building or farming. The word ‘plot’ is an arbitrary term used to describe a land division carved out for property development. Being an Arbitrary term means its adaptable, it can mean different things to different people

In Nigeria, the widely adopted plot size for house construction is 50 x 100ft ( 464sqm) which can accommodate a standard house with a small compound. This measurement is prevalent in the eastern region of Nigeria such as Anambra, Imo state. However, a 50 x 100ft ( 464sqm) plot is considered a half plot while a 100 x100 (928sqm) is considered a full plot.

Moving towards the western part of Nigeria eg Lagos, Ibadan, Ilorin, e.t.c a standard full plot is measured a 60 x 120ft ( 600 sqm) while a half plot is 300sqm. Some state like Enugu state has their standard plot as a 500sqm plot.

In Nigeria, there is no universal land size. However, as an investor, you can learn to adopt the measurement of any region based on the project goal.

With a grasp of what a ”HALF PLOT” in Nigeria is, we can dive into the topic of the day which is determining what you can build on a half plot of land: 464sqm or 300sqm.

The truth is that psychologically when we mention that a plot is HALF most people automatically build resentment over it. In life nobody wants half. It’s human nature, everybody wants the full package.

However, a HALF PLOT, whether 300sqm or 464sqm, is a lot of space to play with and we will cover different types of building that you can fit into a half plot of land.

One thing that can greatly influence what you can build on any plot of land is your architectural design. A great architect can fit in a 5 bedroom duplex on a 300sqm plot while a bad one cant does the same even on a 1000sqm plot. So the success of any building project starts with a great design.

Here are different types of buildings you can build on a HALF PLOT OF LAND.
RESIDENTIAL UNITS
Lagos is known as the commercial hub of Nigeria which has attracted lots of Nigerians to the state. this has given rise to overpopulation currently faced in Lagos. To adapt to this overpopulation, real estate developers have gotten creative with building designs, some even build on a 200sqm plot that is not fit for humans. Building on half plot of land in Nigeria can accommodate many residential building especially when its designed properly

This overpopulation has also led to a severe housing deficit. Building on a 300sqm plots has become the new norm in Lagos. A 300 sqm plot can build
..

A 2 bedroom duplex with parking space for 3 cars
A 3 bedroom duplex with parking space for 3 cars
A 4 bedroom duplex with parking space for 3 cars
A Semi-detached 3-bedroom duplex with adequate parking space
A bungalow comprising 2 units of 2-bedroom with parking space for 2 cars
4 units of mini-flats
e.t.c
OFFICE SPACES
Many popular companies in Lagos operate from terrace duplexes which are built mostly on a 300sqm, especially in Lagos. However, with the help of a good architectural design, you can design a modern co-working space that can accommodate up to 30+ people which you can rent out to make an extra income. Building on half plot of land in Nigeria can help establish many small scale business and start up companies who can not afford big properties.

COMMERCIAL BUILDING
Based on the design and the goal of the business you can build almost any type of structure for your business including but not limited to

A restaurant or bar
8 large shops
A mini shopping complex
Poultry or other life stock rearing
Beauty Clinic and Fitness Center
HIGHRISE
This might come as a shock to many people but you can build a high-rise on a 300sqm plot. With a strong foundation, a good design, and expertise, you can comfortably build a high-rise of up to 10 floors in a 300sqm plot. This might sound like a fairy tale, but take your time and study high-rise buildings in Ikoyi and other places you will be surprised at the answers you will get

CONCLUSION
You shouldn’t miss a prime property because you can’t afford a full plot at this time. It is OK to begin your real estate investment journey with a half plot of land. The ideas listed above can be achieved by working with a creative architect and a good construction team. building on half plot of land in Nigeria can accommodate many types of building however, it all depends on two factor: goal of the investor and the architectural design

If you are new to real estate we have content for beginners guide in real estate and realtors can also check this article or watch the video on our you tube channel on how to become a realtor with PWAN MAX

In most economies, inflation is a common occurrence. Indeed, it is frequently regarded as a precursor to the conclusion of an economic cycle. Naturally, a rapid increase in inflation can have a huge impact on a variety of industries and investment portfolios, and investors who don’t know how to navigate it will be wiped out. But how does real estate investment fair in the face of inflation? What happens to real estate when prices rise? Is inflation beneficial to real estate?

Inflation has a number of real estate-related consequences, including higher mortgage rates, rising asset prices, depreciation of long-term debt, increased building costs, and so on. Let’s look at how inflation affects real estate assets and mortgages, as well as how investors might position themselves in a high-inflation climate.

When interest rates rise, which usually happens during periods of economic expansion, different asset classes react differently. Rising interest rates erode bond principal, affect the value of stocks and other financial assets, and have an impact on debt interest payments.

Real estate investments, on the other hand, have the ability to perform well in a rising rate environment. Income-generating real estate and multifamily, in particular, have historically — and as an investor and developer — demonstrated a stronger propensity to produce net income during expansionary periods than equities and other assets.

There are many more elements that influence real estate values in the actual economy. Interest rates are another key element for real estate prices to rise. When borrowing rates are low, purchasing a property is more affordable, which increases demand. If the supply of homes remains constant but demand rises, housing prices will rise as well.

What Exactly Is Inflation?
Before we can answer the aforementioned questions, we must first define inflation. It is, in simple terms, an increase in the price of products and services over a period of time. There are various reasons why a market experiences inflation. Excess aggregate demand and cost-push variables are the most important. A rise in demand for specific products and services is an excellent illustration of the former. In the case of the latter, increases in wages, production costs, and the cost of raw materials will almost always result in a high rate of inflation.

Effects of Inflation on the real estate market
1. Mortgage rates may rise as a result of inflation
In general, interest rates rise in lockstep with inflation. When inflation rises, central banks often boost short-term interest rates to reduce inflationary pressures.

When interest rates are low, customers are more likely to borrow, resulting in more money to spend. This causes inflation to rise. Consumers will save more rather than spend as central banks boost interest rates to combat inflation because higher interest rates offer better returns. With reduced consumer spending, inflation is expected to fall.

Advisors and investors should be mindful, however, that as mortgage rates rise during inflationary periods, demand for real estate tends to fall as debt becomes more expensive. The consequent drop in demand may have a detrimental influence on asset prices.

2. Rents will skyrocket
Inflation raises everything prices, including rentals. Occupancy rates often climb when home production slows and demand for existing units rises. In such circumstances, landlords boost rents, resulting in increased revenue (and increases property value)

One of the most visible effects of inflation is a rise in rental rates. Because mortgages are so expensive, most people will choose to rent rather than own. Landlords will boost their rental rates as a result of the high demand for rental homes and the influx of tenants. In this economic situation, owning a rental property puts you in a great position because tenants are more ready to pay higher rents rather than take on an unaffordable mortgage.

3. Inflation causes property values to rise
When the economy experiences a high rate of inflation, real estate values will rise as well. The reasons behind this are straightforward and straightforward. Because construction materials will be more expensive, developers will spend more on new properties. As a result, the cost of new real estate properties would inevitably rise.

Real estate prices rise in tandem with inflation as the cost of living rises. In general, when inflation rises, housing and other real estate asset prices rise with it. However, as mortgage rates rise, demand for real estate tends to fall since debt becomes more expensive.

4. Construction expenses rise as a result of inflation
Because inflation raises the cost of everything, the cost of construction materials will rise as well. There’s a lot that goes into real estate construction, and if inflation rises, all of those prices will rise as well.

Inflation raises wages, machinery costs, and construction supplies, as we all know. Developers and investors are also put in a situation where cost overruns are far more likely. If you planned a construction project several years ago in an inflationary climate, you’ll need to factor in the cost of all building materials and labor.

Because an inflationary environment usually results in increased rents and asset prices, real estate is thought to be a good inflation hedge. This is due to three major factors:

Rents rise in tandem with inflation.
Inflation raises the property’s value.
As the value of the debt declines, the debt on your asset devalues.
With that stated, high-inflation situations should be avoided by investors, partly because borrowing costs will rise, placing downward pressure on cash flows and real estate demand if you wish to sell. It also raises the expense of new real estate development.

Bottom Line
Given the current economic position, inflation appears to be unavoidable. Understanding the reasons behind this occurrence is critical for successfully navigating a market that will soon be affected by rising costs.

In a turbulent global economy, privately owned, high-quality real estate with predictable income streams can be a good investment. Real estate has long been praised by advisors and investors for its capacity to weather inflationary pressures while keeping and growing value, in addition to its comparatively high yields, moderate volatility, and various portfolio diversification benefits.

Throughout history, property appreciation has occurred severally. properties which were once selling for as low as 1 MILLION appreciated to more than 35M.

What causes these bumps in the price?

If you own a property or are considering buying one, you might be wondering what causes the value of properties to increase. Many believe that property value increases based on demand and supply. This concept is not wrong. However, the real estate industry is dynamic, and as such Many factors can result in an appreciation in the price of properties.

In this article, we will discuss the factors that cause property values to increase over time.

So, Let’s dive in

WHAT PROPERTY VALUE INCREASE MEANS FOR INVESTORS
Before we start analyzing the factors, let’s look at why this appreciation matters. For example, to acquire landed property in ibeju lekki for 800k and in less than 5 years, sell the property for more than 10M is every investor’s dream. This means that the property has actual liquidity and can be converted to spendable cash. Depending on the title, the property can be used as collateral to acquire a loan from banks, the property can also keep appreciating more over time.

Appreciation is the goal of every investor, especially in land banking. It marks the success of that venture and determines when investors can reap their ROI ( return on investment)

PROPERTY VALUE INCREASE OF LAND VS PROPERTY VALUE INCREASE FOR BUILDINGS
When we talk about real estate, we often loop in building and land together, and rightly so because they are both forms of real estate assets. However, this is a unique case and we will be discussing each asset differently.

Commercial real estate investors are often concerned about having property in locations that can guarantee tenant inflow and good pricing. while land bankers are concerned about reselling their property at a bigger ROI. Factors that guarantee both favorable situations are sometimes similar, In other instances, they might differ.

We would be starting with land and factors that affect property value

WHAT CAUSES PROPERTY VALUE TO INCREASE ( LAND )
1. Population and demographics
population has been a major driver in price, not necessarily in real estate but for virtually everything. It’s no longer a secret that Population determines demand and supply. The higher the number of people bidding for any asset, the higher the price the asset can sell. One factor that can skyrocket the price of any landed property in any location is the inflow of people.

More people means more accommodation, infrastructures ( light, roads, schools), developments, investments, etc. The need to cater to the rising population leads to scarcity. This scarcity results in an appreciation in property prices which generates returns for investors.

2. Infrastructure development
Another factor that can cause property to increase in value in any location is infrastructural developments. Rural areas are characterized by low or non-existent infrastructures such as lack of street lights, bad road network, drainage, lack of constant power supply, etc. When these factors are made available, it encourages population Migration into these locations which leads to an appreciation of landed properties.

Take, for instance, the city of EPE. The construction of the 36km 6 lane expressway is bound to attract both huge migration and investors to the region. In a few years times, properties owners would be able to generate massive ROI from their investment

This might not be the same in other locations because Lagos already has a massive population. It might take a few years before this is replicated in some other states.

3. Policy change
A clear example of how a policy change can affect real estate and property prices was during the tenure of the Lagos state government, His excellency Governor Akinwunmi Ambode. During his tenure, a huge infrastructure budget was allocated to epe, this resulted in massive development in the region. This development attracted big investors like banks, supermarkets, malls, and other companies to the region. Property within the developed area experienced a lot of value appreciation on their landed properties.

4. Economic situation
Another factors that affect property value location is the economic situation of the country. A country performing well Economically gives the Government availability of funds to invest in the development of projects. These projects are mostly seen in developing areas which will lead to an increase in the value of property in those areas. e.g. the construction of the Umueri airport in Anambra state will lead to an appreciation of property in that location due to the airport. An economy performing in its optimal state also means citizen has enough money to carry out private projects which also translate into development, the opening of business, and migration which all directly or indirectly affect the price of properties

5. Upcoming or available amenities
When the Dangote project was announced in ibeju lekki, a lot of investors and buyers flew to ibeju lekki to acquire properties. in the same way, the announcement of major amenities, projects, or inflow of major investors in any given location can attract major attention in those areas which lead to a rise in the value of properties



Further reading: Real estate investment for beginners in Nigeria



WHAT CAUSES PROPERTY VALUE TO INCREASE ( BUILDINGS)
1. Population and demographics
We have discussed previously the effects of population on the value of landed property. These same effects also play an even bigger role in the value of the commercial real estate sector. With more people/businesses searching for homes/offices in a particular area means the landlords can charge more. The prime example of this is Lagos. Lagos is synonymous with overpopulation, which is why Lagosians pay the most rent compared to other states.

2. Property Style, Type, and Age
Because the physical characteristics of your home depreciate, a newer home will have a higher value than an older home. Provided the funds are available most people will prefer to live in a newer apartment over an old one. One of the first questions you encounter from home buyers is mainly ” when was this house built”. You can watch the excitement drain out of their face once you mention the 90s. Buyers in particular should take note of your home’s age based on the quality and design of materials and fixtures, such as hardware, tile, and energy-efficient features. When you maintain your home from a structural and aesthetic standpoint, you improve your property value.

3. RENOVATIONS
Simple renovations like painting, screening, and landscaping can massively increase how much you can charge for a particular property. Many buildings in the 90s might look undesirable to buyers in today’s market. However, a little touch-up can bring out the beauty changing people’s notions of it. This can attract new buyers and the landlord can charge more for the property. Renovation is a prime factors that affect property value

FAQ
1. Why does the value of property increase?
The phenomenon of capital value appreciation or growth of a property’s market value over time happens because of various factors, including The supply and demand dynamics of a particular location. How fiscal inflation is behaving. The interest rates banks charge for home loans, meaning the cost of borrowing

2. What causes property values to decrease?
Property value can decrease. factors such as natural disasters, war, and emigration can massively reduce the price of real estate in a particular location



CONCLUSION
We have gone through the factors that can affect the value of a property in any given location both lands and buildings. This is an indication that real estate is everlasting and no matter where a property is located its value will eventually increase with time. Let us know which factor you agree with the most and suggest other factors of your own.

Successful real estate investors have the capacity to perceive, analyze, and take advantage of other people’s money. Why? They’ve mastered the art of investing in real estate without having any money of their own. This is an appealing approach for newer and cash-strapped investors to break into the real estate market without having the necessary financial resources. Seasoned investors, on the other hand, have discovered that using other people’s money liquidates their available funds, allowing them to invest more and make more money.

In real estate, there is no such thing as no money down because the funds must come from somewhere. You must gain the capacity to recognize, analyze, and even take advantage of other people’s money if you wish to invest in real estate with little or no money.

When using traditional loans to finance real estate, you will only need a little amount of money for a down payment. Real estate is a type of asset with limited liquidity compared to other types of investments. To be considered a profitable investment, any sort of real estate investment necessitates some level of money as well as a significant level of cash flow. For some of the most successful real estate investors, using other people’s money to invest in real estate is a mark of authenticity.

1. Real Estate Investment Trust
REITs own or fund revenue generating properties across a wide range of property types. REITs are comparable to mutual funds in that they provide dividend-based income and returns to everyday real estate investors. Individual company shares can be purchased through an exchange-traded fund or mutual fund to invest in a real estate portfolio.

REITs enable everyone to invest in real estate asset portfolios in the same way they do in other industries: by purchasing individual business shares or a mutual fund or exchange traded fund (ETF). A REIT’s owners receive a portion of the revenue generated without needing to purchase, operate, or finance the property themselves.

The only drawback is that they deduct a portion of income for administrative costs before distributing the rest to shareholders. The real estate mutual fund is a comparable financial product. Unlike REIT shares, these mutual funds are more liquid. They are also more diverse. They may invest in real estate investment trusts (REITs), publicly traded homebuilder stocks, and construction supply firms. ETFs that invest in real estate are just ETFs that invest in similar industries.

A REIT ETF is an exchange-traded fund that invests in real estate investment trusts. You’ll get fewer returns, but you’ll be taking on less risk than if you invested in a REIT. You don’t have to invest in real estate directly, much less manage it, in any case.

2. Investing Through Partnerships
Real estate partnerships are a popular way to participate in real estate with little or no capital. If you want to buy a house or start a real estate business in Nigeria but the cost is prohibitive, an equity partnership may be the solution. An equity partner is a person you bring into a deal to assist in the financing of a property. Partnerships can be established in a variety of ways, and it is up to the buyer and partner to agree on a more viable structure.

3. Special government programs
This is a government-sponsored program that allows diverse working-class persons to purchase their own home. It is clearly defined as a lending scheme for the acquisition, repair, or construction of residential properties, and it is extremely beneficial to people who are unable to save enough money to create a home.

Obtaining an NHF loan allows property investors to construct residences with low monthly payments. These homes might be rented out, with the proceeds going toward paying down the loan.

For citizens seeking a loan, the National Housing Fund offers a set of regulations and guidelines. One of these requirements is that the citizen be over the age of 21 and have proof of work. Before applying for a loan, the applicant must have contributed to the NHF for at least six months. The highest amount available is N15 million, with a 6% interest rate. This must be paid back within 30 years of the date of acquisition. The Federal Mortgage Bank of Nigeria (FMBN) manages this loan directly, however it can also be obtained through a certified Primary Mortgage Institution.

4. Using the OPM strategy
These can be used in any type of business transaction. In the real estate industry, you find an acre of property in a specific area, negotiate with the seller, agree on a price to pay for the land, and then find the money to pay the seller.

Using the OPM technique as a means of obtaining funds is a viable option.

You must now surround yourself with qualified individuals who are willing to assist you in funding this project and purchasing the land from the seller as swiftly as possible. However, significant due diligence is required.

To try this OPM method, one must be a skilled negotiator.

5. GETTING A HOUSE EQUITY LOAN
This strategy of real estate investing requires you to use the equity in a previously purchased property to obtain a loan for a new property. It’s possible that the property is a house or a rented flat. The value of the property used as collateral must be high in order to get a large equity loan. This type of loan package is available from banks and a number of microfinance institutions. Although the interest rate may be high, you will not have to pay a large portion of your savings to buy the home.

6. Option To Buy
This approach, sometimes known as a “lease-option,” allows investors to purchase properties without first assuming legal possession. The investor, on the other hand, will sign a formal “option to buy” from the homeowner at a future date for a certain price. In exchange, the investor rents the property out for a long time, with the intention of purchasing it at a later date for a certain price.

Bottom Line
The purchase, ownership, management, rental, and/or sale of any sort of real estate for profit is referred to as real estate investing. It’s a great concept since real estate provides a unique combination of security, consistent cash flow, and a high likelihood of significant capital gains. You won’t make as much money as if you invested in the stock market at its height, but you won’t lose everything either. A well-thought-out and executed real estate investment can provide continual passive income while also proving to be a sound long-term investment if the property value rises tremendously over time.

Read Also: What is a Land Gazette?



where is your research taking you next ?

Real estate investment in Nigeria for beginners
Cost of roofing house in Nigeria
How to become a real estate agent with PWAN

you're welcome

@GoodFaith: you are absolutely correct about omonile and selling the same land to multiple people, that's why it is important to only purchase property from genuine real estate firms and also have a legal adviser confirm the authenticity of the property documents. For example here at pwan we have been providing properties to people nationwide for 10years and counting. In conclusion, if you are interested in real estate investment or buying property for any reason it is advisable to purchase lands or homes from trusted real estate firms and not just anybody.

Investing in real estate in Nigeria has grown in popularity over the last several years and has become a prominent investing theme.

Regardless of the economic slump, the real estate business in Nigeria is currently growing, and people are making millions in it. It may be considered a real money spinner. One of the best things about the Nigerian real estate market is that the investment prospects are so diversified that there is something for everyone, and as you progress in the industry, you can also extend your portfolio.

Yes, real estate in Nigeria is profitable. Appreciation – an increase in the value of a real estate property – is the most prevalent way to earn in real estate. According to data, the national real estate appreciation rate is between 3.5 and 3.8 percent every year.

Although there are numerous opportunities to make enormous profits in the real estate industry. Purchasing and owning real estate is far more difficult than stock investing.

Benefits of Investing in real estate in Nigeria
1. You Can Generate Passive Income
You can produce practically tax-free passive income by investing in real estate. Even when you’re sleeping, your rental properties are working for you. You have the opportunity to do what you enjoy instead of spending all of your time at work if you acquire many rental homes that create enough revenue to support your expenditures.

2. Consistent Income
It’s a no-brainer. The bulk of people invest in real estate for the consistent stream of cash that rental income provides. This steady stream of revenue is a powerful motivator to get started and purchase your first rental property. Depending on where you work, you might be able to earn enough money to meet your expenses and increase some extra money on the side. Because demand is usually high in those locations, urban cities or towns with colleges and universities tend to earn more money. You can assure a consistent flow of income for a long time and even save for retirement if you choose carefully.

You don’t have to limit yourself to one rental property at a time; you may step up the pace and invest in numerous rental properties at once to boost your positive cash flow and diversify your real estate portfolio. If the burden gets too much for you to handle, you might hire a property management specialist. One thing to remember is that when it comes to real estate investing, location, location, location is crucial. To realize the rewards of real estate investing, don’t forget to select a desirable location.

3. Appreciation of Real Estate
Rental revenue, any earnings created by property-dependent economic activity, and appreciation are all ways for real estate investors to profit. Real estate values rise over time, and if you make a wise investment, you can profit when it comes time to sell. Rents also have a tendency to climb over time, which might result in increased cash flow.

4. Appreciation of capital
Due to rises in property value over time, investment properties can generate capital gains for investors. A profit earned from the sale of a property or investment is referred to as capital gain. Of course, investors can only earn if they sell the stock.

However, as the need for housing has expanded over the previous few decades, the value of real estate has risen considerably. In order to achieve capital gains from real estate, supply and demand must work together. When there are fewer properties or less supply in a given geographic region, property values tend to rise–all else being equal.

Types of real estate in Nigeria
1. Development of Real Estate
Property development is a very capital-intensive business. This entails buying buildings in desirable areas, converting them into luxury apartments, commercial structures, and so on, and then selling them for a profit. For example, if you invest N300 million in developing a property in a desirable location, you may be confident that it would sell for double that price if not more. If you’re considering about investing in real estate development, the location is crucial.

The sorts of real estate investments mentioned above are just the tip of the iceberg. There are numerous variations of real estate investments within these examples. The real estate business, like any other investment, has a lot of promise; however, make careful decisions, conduct due diligence, study, and consider the costs and advantages of your decision.

It is worth noting that the appreciated value of real estate is highly dependent on its location. When considering real estate investment, the location should not be too far from Nigeria’s major tourist attractions. There are several spots to visit in Nigeria that are largely unexplored real estate gold mines.

2. Rentals for vacations
This is a tremendously profitable real estate investment strategy. This is frequently done by homeowners who live in close proximity to a tourist attraction. Those who reside near beaches in Lagos or other notable tourism destinations in the country, for example, can attest to this. This means renting your home to a visitor for a set period of time in exchange for a large sum of money. However, in Nigeria, it is not a particularly common strategy to make money in real estate.

3. Real Estate Investment Trusts (REITs)
The majority of Nigerians are unaware of Real Estate Investment Trusts (REITs). REITs are a type of SEC-regulated collective investment scheme that pools funds from investors and invests it in income-generating real estate, mortgage loans, or a combination of both. The underlying asset portfolio is managed by professionals to maximize profits for investors who can hold an indirect interest in real estate on a flow-through basis, putting them in the same position as if the property were held as a direct investment. REITs, like any other stock, are purchased and sold on the major markets.

REITs have been discovered to have numerous advantages. One of these is portfolio diversification, as real estate investment provides an alternative to equities and fixed income products, particularly for diversifiers. Another advantage of REITs is their liquidity, as they are highly liquid assets (as compared to direct real estate investment) that can be sold rapidly to raise cash or to take advantage of other investment possibilities.

REITs, like normal dividend-paying equities, are a good choice for stock market investors looking for consistent income. REITs are also highly liquid and allow investors to invest in non-residential properties such as malls or office buildings. To put it another way, you won’t need the assistance of a realtor to cash out your investment.

4. Land banking
This is a time-honored way of making money in real estate. This approach comprises purchasing a single-family home and renting it out, as well as purchasing a multi-family property and renting out all of the rooms, or living in one room while renting the others to cover your mortgage. You can either manage the property yourself or engage a management company to do it for you, including collecting rent.

5. Rents
Rent collection is a way to make money from both residential and commercial buildings. This is one of the most common ways to earn money, and the best part is that it is a never-ending process. It is divided into two parts:

Residential Real Estate Rentals
Commercial Real Estate Rentals
6. Land Flipping
This entails purchasing land and quickly reselling it for a profit. This is one of the best investments you can make, and it needs very little effort. You’ll need your money and a thorough understanding of land ownership and the purchasing and selling process to get started. If you want to make a lot of money, you’ll need a lot of money, but you may start small by buying one plot and expanding to tens of plots and acres of property, which you can sell all year.

Bottom Line
Real estate investment is reasonably safe. It can also be extremely profitable. Certain tactics, on the other hand, can cause you to lose your entire investment.

The answer also varies depending on which part of investing you’re discussing. Some are far safer than others, and some are far more profitable. Furthermore, there is so much variance in what is referred to as “investment” that a person may love and perform well in one part but not in another.

[img]https://app.photobucket.com/u/luwycee/p/67dbc9a2-2ab9-4261-9320-95f3520ff9ba[/img]

Becoming a real estate agent is a promising and fulfilling job, but it is not without its difficulties. If you want to be successful in real estate, you need to have a diverse set of abilities. After all, you need to be able to handle a variety of client requests, close agreements efficiently, and continue to expand your customer base.

As a real estate agent, your habits are the foundation of your long-term success. We all know that there is no such thing as a real estate agent silver bullet (sadly), but if there is one thing that behaves like one in real estate, it is consistency and habit creation. Setting up a flawless daily plan will put you in a position to consistently do the right things, allowing you to reap the benefits in the future.

Those first couple of years as a realtor are crucial, as 87 percent of realtors fail during the first five years. We can, however, learn from successful real estate brokers. These successful realtors have a lot of things in common that help them succeed in the business.

Many effective real estate brokers have the same beneficial qualities. Six frequent habits of effective real estate brokers are listed below:

1. Make the most of social media
Conveying your life across various social media platforms is a part (and a big part) of your online presence. You must allow your consumers and prospects to glimpse into your personal life and what you are all about. Don’t be afraid to share some personal information on your company website.

You’ll constantly represent the brand you’re trying to build up by how you respond to any inquiries, questions, or anything else online. It’s practically impossible to keep your personal and business lives separate in real estate. Your online persona is heavily influenced by your social media sites. Make the most of it to help your brand grow.

2. Successful real estate agents are excellent communicators
As a realtor, you’ll be interacting with a wide range of people, which means you’ll meet people with a wide range of personalities. It’s critical to know how to interact effectively with individuals, regardless of their personality type. Recognize that you will meet a diverse range of people, and that having effective communication skills will make all the difference.

It’s also critical to have open channels of contact with clients. Make an attempt to respond to every text message, phone call, and email you get, even late at night and on weekends. Go above and beyond by swiftly responding to messages.

3. Instead than waiting for business, go get it.
Remembering the link between prospecting and profit is a terrific strategy to keep your “money momentum” moving in the correct direction.

Agents who assume selling real estate is a “market and wait” situation (many of them are new to the field). These agents believe they can buy leaflets, billboards, bench advertisements, and commercials, then sit back and collect commission checks.

This “wait and see” approach may help sell one or two properties per year, but is N200,000 per month enough to live on? Rather than waiting for commissions, it is just the greatest plan to go out and work for it.

Real estate agents who “list and last” know that they must get on the phone and dial in order to keep their commissions flowing in. The most effective agents prospect every day (some even many times a day) and follow a strict schedule.

4. Successful real estate agents have a large sphere of influence, monitor it, and make use of it
Good relationships and maintaining long-term ties with prior clients are critical components of obtaining referrals, testimonials, and other vital components of growing and expanding your sphere of influence. However, there’s a narrow line between keeping in touch with old clients and becoming that obnoxious pest that calls or emails all the time.

Making contact with them is a must. The majority of the time, any online or print marketing you conduct will not appeal to or apply to them. Ask them real estate queries if you phone or email them. Check to see if there’s anything they wish they’d known before. Find out which aspects of their new homes they enjoy the most. The goal of these questions is to get people talking and understand what you can do better.

You can request a referral at any time during the call, but it cannot be the primary reason for the call. Think of it as a phone call to establish a relationship. Calling them and asking for a reference as the primary goal would just turn them off to you. This pie does not include old clients. You should be familiar with the best contractors, appraisers, lenders, and insurers in the industry.

Your mission is to establish a nexus of professionals who can provide advice and assistance on anything real estate or home-related.

5. Real estate professionals who are successful never stop learning.
Any good real estate agent will tell you that they continue to learn even after ten years in the business. One way to do this is to upgrade your license once you’ve accumulated enough experience. Attending real estate conferences and subscribing to newsletters or journals to keep up with current real estate trends are also encouraged.

You can also start your own real estate company, but you must first ensure that you have the necessary education. This habit will assist you in being a successful realtor and excelling in your field as you continue to seek knowledge.

6. Real estate agents who are successful have excellent time management abilities.
The to-do list of a busy agent might be frightening. In-demand agents must learn how to maximize their time in order to complete all of the tasks that must be completed each day. They focus on prioritizing the things that drive deals forward and offer them the best return on their efforts by minimizing, eliminating, or delegating those that can sap their time.

Most real estate agents are women. And women do face unique challenges in the workforce. As a woman, things will continuously pull you in different directions, and you will constantly question yourself if you are capable of caring for your children. You’ll question whether you’re making the best decision for your family. You’ll start to wonder if you’re missing important dates. You’ll be concerned about your children’s safety while they’re away from you. You’ll be more concerned about your partner’s job than your own, and you’ll forego time and responsibilities at work so you can look after those adorable little beings that look a lot like you.

7. Real estate agents who are successful Communicate as soon as possible.
Clients despise it when they don’t get a call back in a reasonable amount of time. It’s understandable; we’re all in the same boat. Find out the best ways to contact them and give them a reasonable schedule so they know when to expect a response from you. Anything more than 24 hours is considered unacceptable.

Calls and emails are immediately returned by the most successful agents. When they receive a lead, they promptly follow up, answering any and all questions that a client or potential client may have. They make their consumers feel valued by staying in touch with them throughout the transaction and thereafter.

Advertisers and those who track advertising effectiveness are preoccupied with memory. According to the saying, if advertising is to be successful, it must stick in the mind of the consumer. So if a real estate agent runs an ad, it is important to act fast because according to a study conducted to understand brand memorability decay over a period of time for a number of ads, it became apparent that recall for the ads by potential leads dropped by 50% in the first 24 hours.

8. Successful real estate agents conduct community research in their respective areas.
Providing a lot of extra value to your clients is one of the finest strategies to succeed as a realtor. This entails being an authority figure in your neighborhood. If you’re buying or selling a home in Lekki, you expect your real estate agent to be well-versed in the area’s Lekki properties. Find out as much as you can about the local schools, commuting options, local businesses, and housing markets and trends.

Your clients will come to you for assistance in all of these areas, and if you can deliver, they will regard you as an expert they can rely on for all of their requirements, increasing their trust and respect for you.

9. Real estate agents who are successful Invest in themselves as well as their company.
This entails both time and money. When you’re driving, working exercise, or performing mundane household chores like dishes or laundry, how much extra time do you waste?

You may be doing research or listening to audio podcasts instead. Every day, you can improve your abilities and knowledge by learning new things.

Read a business book that will broaden your horizons while remaining relevant to your profession. Business and customer relations books will benefit you more than real estate books because they will apply to other aspects of your life. The thing we keep emphasizing is that learning more about your industry will help you become an expert in your field. It will then naturally set you apart from other agents in your area and specialty.

Examples of books to read to broaden your real estate knowledge are rich dad poor dad, The Millionaire Real Estate Agent: It’s Not About the Money It’s About Being the Best You Can Be, The ONE Thing: The Surprisingly Simple Truth Behind Extraordinary Results, Crushing It!: How Great Entrepreneurs Build Their Business and Influence-and How You Can, Too.

10. Successful real estate agents don’t procrastinate.
Successful real estate agents understand that in real estate transactions, time is of the key, so they reply quickly to requests and don’t put off tasks that can be completed today. They solve chores and difficulties quickly, allowing them to focus on serving their clients and closing agreements.

Conclusion
What characteristics do successful real estate agents share? They frequently share behaviors and attributes that help them achieve great performance. Consider some of these typical techniques that can contribute to success in the real estate market if you’re a new agent or even an experienced agent trying to enhance sales.

Real estate investment is massively massively profitable, 90% of the worlds richest men have stakes in real estate. Majority of elites believe real estate is the best investment for various reasons as it cannot be stolen, broken, and land does not depreciate in value compared to other forms of investment.

Another advantage or real estate is that it is a tangible investment, and is one of the easiest asset to pass down from generation to generation.

A huge opportunity is knocking, and only smart investors will take advantage of the massive returns Max Court has to offer.

Max Court is a newly developed estate by Pwan max in the heart of Oko Addo, Sangotedo, Lekki. This estate holds amazing features including: Security cameras, 24hrs power supply, smart home, solar street lights, gym, playgrounds, gardens, ATM, swimming pool, shopping mall, drainage system.

Location: Behind Blenco Supermarket, Oko - Addo

Title: Certificate of occupancy

With 105 units, you can invest in any of the following apartments:

Studio apartment
1 bedroom apartment
2 bedroom apartment
3 bedroom duplex
4 bedroom terraces

Topography: Dry

For inquiries, contact: 08076194584

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Looking to start a building project? You might need some information as to what to be aware of like building plans, architecture, budget, and types of building foundations.

Not to worry, this article will shed some light on basic types of foundation you need to be aware of and which is most suitable for your structure and type of building you are planning to erect.

Foundations provide support for structures, transferring their loads to layers of soil or rock that have sufficient bearing capacity and suitable settlement characteristics. Basically, a foundation is like a framework where your building are constructed on. Constructing the right foundation is an integra part to your sucess as a builder or commercial real estate investors. A foundation is the integral structural element of a building, bridge and other similar engineering structures that primarily transfers the loads of the structure to the soil or strata underneath it. The foundation provides stability as they serve as the point of connection between the structure and the soil or strata bearing the load. There are different types of foundation depending on the type/ complexity of structure and the strata directly beneath it.

As a beginner in the real estate investment sector, its important to understand the different types of building foundations and which types fits a specific type of building or soil. Foundations can be categorized as shallow foundations or deep foundations. Shallow foundations are mostly used for bungalows or simple structures with low bearing capacity. Deep foundations are necessary where the bearing capacity of the surface soils is not strong enough to support the loads imposed by a structure and so they need to be transferred to deeper layers with higher bearing capacity. In some something areas of Nigeria with weak or swampy soil, deep foundations are necessary to maintain the strength of the building

The most common types of building foundations you might come across are:
Strip foundation
Raft or Mat foundation:
Pile foundation
pad foundation
Strip foundation
Strip foundations are most suitable for soil which are of fairly good bearing capacity. They are mostly used for light structural loadings such as those found in many low-rise or medium-rise domestic buildings – where mass concrete strip foundations can be used. In other situations, reinforced concrete may be required. In simple terms, strip foundations are used in light weight constructions like bungalows and is not advised to be used for story buildings and high rises. Older buildings may have brick strip foundations.

Strip foundation is commonly used:

For bungalow construction.
When the soil is fairly of good bearing capacity.
When light weight construction is to be done.
Very broadly, the size and position of strip foundations are typically related to the wall’s overall width. The depth of a traditional strip foundation is generally equal to or greater than the overall wall width, and the foundation width is generally three times the width of the supported wall. This results in the load being transmitted at 45º from the wall base to the soil. In Eastern part of Nigeria where the soils are hard and compact also accepts the use of strip foundation. strip foundation are generally cheap compared to raft and more popular in the eastern part of Nigeria as an acceptable type of building foundation for low rise buildings.

Soil recommended for strip foundations are:

Rocky soil
Uniform firm and stiff clay Soil recommended for Raft foundations are:
Soft clay
Peat
Raft foundation
A raft foundation, also called a mat foundation, is a continuous slab resting on the soil that extends over the entire footprint of the building, thereby supporting the building and transferring its weight to the ground.

A raft foundation is a type of building foundation often used when the soil is weak or has a low bearing capacity, as it distributes the weight of the building over the entire area of the soil, and not over smaller zones (like individual footings) or at individual points (like pile foundations). This reduces the stress on the soil. consider a location like Ibeju Lekki part of Lagos or Ogun state, where the soils are relatively waterlogged. A raft foundation is need for any type of construction even in fencing. A raft foundation is more expensive when compared to a strip or pad foundation. A popular type of Raft foundations is Beam and Slab raft foundation. This foundation type can also be called mat foundation consists of a wide area of interconnected reinforced concrete ground floor and beams spreading over the entire footprint of the building. they are built on a soil with a low bearing capacity. Majority of buildings in the fast developing marshy areas of Lagos have a rafted foundation.

Raft foundation is commonly used when:
A building is to be erected on a marshy soil or water logged soil.
the soil can be sand filled.


Pile
A Pile foundation is usually a deep foundation with a slender column or long cylinder made of materials including concrete or steel, used to support structures transferring the load at the desired depth and could be by end bearing or skin friction. Pile foundation is mostly used when heavy loads from superstructure are imposed. A Pile foundation is usually a deep foundation with a slender column or long cylinder made of materials including reinforced concrete or steel, used to support structures transferring the load at a predetermined depth.

Pile foundation is commonly used when:
A bridge or building is to be constructed over a water body
heavy loads from superstructure are imposed.
When the groundwater table is high
heavy and un-uniformed loads from superstructure are imposed.
when soil excavation is not possible up to the desired depth due to poor spoil.
Soil recommended for Pile foundations are:

Soft clay
Foundations depending on the type can cost up to 20 to 40 percent of the building’s total construction cost. It is one of the most important component of a building, hence its construction must be managed and supervised by relevant and experienced construction professionals such as Builders and Civil Engineers.

Pad foundation
This type of building foundation is formed by a rectangular, square and sometimes circular spread of reinforced concrete footing. Loads from upper floors and roof are transferred to the beams while the beams transfer them to the columns and then to the pad footing and ultimately to the soil at a predetermined depth that has a suitable bearing capacity.

Pad foundation is used when:

Constructing a story or high-rise building.
The bearing capacity of the soil beneath it is high
A popular type of Pad foundation is combined footing. Combined footings are constructed for two or more columns when they are close to each other and their foundations overlap.

Soil recommended for Pad foundations are:

Soft clay
Uniform firm and stiff clay
For more information on pad foundation visit click here

Conclusion

These are the basic and most common types of foundations we will be discussing, foundations types are not limited to these, they are still a few others that could be advised by your engineer depending on the nature of the building project. Now that you have a basic knowledge of foundations and soils they are suitable for, you will have a better understanding when discussing with engineers and professionals as to what’s to be done on your project. you can also contact us for your next building project as we have a team of construction experts that will bring your project to live.

If you are new to the real estate world, before diving deep into investment and construction, you might want to check out our article on guide to real estate investment for beginners https://pwanmax.com/blog/real-estate-investment-guide-for-beginners/

Indoor plants not only provide beauty and bring a piece of nature into your home, but they also filter out many common contaminants like benzene, formaldehyde, and trichloroethylene. When weighing the benefits and drawbacks of growing plants indoors, keep in mind that you’ll have to put up with a few negatives in the plants themselves as well as the labor of caring for them.

Indoor plants may brighten a space, freshen the air, and even act as a natural air filter. Giving fresh flowers or a potted plant to someone who is confined to their home due to illness is a long-standing custom. There are difficulties and drawbacks to producing and sustaining indoor plants, despite their natural beauty, health benefits, and good intentions.

If you’re thinking about adding a few indoor plants to your living room or bedroom, here are some pros and cons to consider.

What Are the Benefits of Having Indoor Plants?
Plants have always been known to improve quality of life in some form and will continue to do so in the future. Initially, many houseplants are placed with the same concept in mind. On the plus side, they add to the beauty of the scene. Here are some of the advantages of cultivating houseplants and why you should consider them.

Better for Interior Design
House plants are a terrific, low-cost, and elegant addition to any house. People who enjoy nature will appreciate the presence of house plants throughout your home. They contribute to the greenery while also assisting in concentration and keeping serenity.

Plants have medicinal properties
This could be one of the most significant benefits of indoor plants for persons suffering from mental illness, anxiety, or despair. Indoor plants are frequently utilized in horticulture therapy to treat the illnesses indicated above because of their therapeutic properties.

Horticultural therapy is a current therapeutic option for a variety of mental health issues. Plants in your home or office, according to medical studies published in the Journal of Physiological Anthropology, make you feel more relaxed, calmed, and natural.

Modifier of Humidity
Plants play an important role in regulating the air’s humidity balance. They absorb excess moisture in the air through their leaves, lowering the humidity levels in the house and keeping it fresh and cheerful. Plants from the tropics are especially recommended.

Variation
There is a lot of variety in house plants. House plants come in a variety of shapes and sizes, ranging from tropical plants to cactuses to plants that are primarily used to improve vision. As a result, regardless of how big or tiny your home is, you’ll have lots of options.

Plants may help you work more efficiently
Indoor plants have been shown to have favorable benefits on employees in offices, making them more productive and creative, according to multiple studies. Employees make fewer mistakes and exhibit more positive behavior when their work environment is improved by indoor landscaping.

Another study found that when plants were placed near students in a computer lab, they experienced a 12 percent improvement in efficiency and were less agitated.

Plants in the home might help you sleep
A lovely floral aroma in your bedroom from flowers like jasmine and lavender can increase your cognitive performance and sleep quality, in addition to creating oxygen.

According to a study, the scent of houseplants can also help to relieve anxiety. So, if you’re anxious or can’t sleep, consider putting an indoor plant in your bedroom as a natural sleep aid.

Lowers Stress Levels
Plants are an excellent antidote for stress reduction. People who have high-stress jobs and occasionally fall into the anxiety trap should increase the amount of plants in their room since they aid in reducing anxiety.

Cons of Indoor plants
Some indoor plants require a lot of attention
Indoor plants aren’t all happy-go-lucky and easy-going. Some plants will require your care on a daily basis. A houseplant that requires a lot of attention will wither and perish if you are very busy and do not spend much time at home. If you have the time to devote to it, that’s fantastic!

The majority of indoor plants require daily care and attention, including watering, wind, and sunlight. If you don’t make time for those little things, they may die or decay in the absence of much-needed attention.

Gardenias, for example, require precise soil conditions and are notoriously difficult to acclimatize indoors. Gardenia Jasminoldes are normally grown outside and require twice-weekly irrigation.

Mold and germs thrive in these environments
Because plants are kept indoors and have restricted access to sunlight and airflow, mold spores and bacteria can begin to thrive in the soil and on the plant itself. This can be harmful to the plant, causing it to become unsightly, and the spread of mold can aggravate allergies.

Indoor plants can be a pain to keep clean
Having an indoor plant may be troublesome for you if you have a minimalist mindset and dislike spending too much time cleaning and straightening up. Plants drop leaves, water leaks from their pots and saucers, and there’s always the possibility of a pot being knocked over, spilling soil.

Requires a suitable environment
Although house plants can grow in any type of home, extra care must be taken to ensure that the house plant does not perish as a result of the inside climate. Our homes frequently have issues with central air conditioning, etc., making it difficult for plants to thrive.

Indoor plants have a tendency to outgrow their containers
Some indoor plants may grow more quickly than you expect, necessitating additional attention. Indoor planting can be problematic at times since plants drop leaves, leak water, or even stink.

On the contrary, some plants may take longer to grow than usual, which is another annoying disadvantage of growing inside. Remember that some species require specific feed, nutrients, humidity, and soil conditions. If you don’t account for enough water, the excess will pour all over the surface beneath the plant container.

Indoor plants can be time-consuming to maintain
If you enjoy spending your free time doing things that are enjoyable to you, you may find that you are unable to do so as much after you have a houseplant or two. Plants require attention and maintenance, which will consume your time. You might anticipate having less spare time if you have a lot of indoor plants.

Bottom Line
Indoor plants really aren’t bad, but they do have a number of disadvantages and disadvantages, as described above. If you’re thinking about obtaining an indoor plant (or a variety of indoor plants), it’s only fair to make sure you’ve got what it takes and are aware of all the potential pitfalls before taking the plunge.

Prepare to have your life revolutionized by sharing your indoor home space with a gorgeous new house plant if you are ready and have what it takes. Best of luck!

click here for more real estate posts: www.pwanmax.com/blog

One of the best methods to secure future riches is to purchase a home and rent it out. It is, nevertheless, critical to ensure that the property in question will generate profit in both the short and long term.

It goes without saying that purchasing a home, for whatever reason, should not be a hasty decision. While there are a lot of aspects to consider before purchasing a home to live in, there are also a number of critical considerations to make before purchasing a property with the intention of renting it out on a long-term basis.

Those in the buy-to-let market should think like tenants and acquire a home that will not only appeal to them, but also provide a steady income for many years.

A stable asset with the ability to build your wealth over time is a property. However, it’s critical to invest in the right properties, as making a mistake in this area may be costly, both financially and emotionally.

Property-related snafus and failures can cause a great deal of anxiety, concern, and pain, which is the polar opposite of what successful investing is all about. Here are some of the things to look for when selecting the ideal property for your portfolio to help you get started on your rental adventure.

1. Location
When it comes to buying a decent rental property, location is crucial. Indeed, it may come as no surprise to learn that the location can account for up to 80% of your property’s capital growth. In which case, it’s evident that if you choose the proper location, you’ll have a far better chance of getting a bigger return on your investment than if you choose the wrong one.

We don’t just mean buying an investment in a neighborhood with multiple drivers of capital growth or where the street has appeal (it’s quiet, well-maintained, green, or has a great view, for example), but also in a neighborhood with key lifestyle amenities such as cafes, shops, restaurants, and parks within walking distance.

As our population rises, our highways become more crowded, and people desire to cut their commuting time, access to public transportation has become increasingly vital and will continue to be so in the future.

2. The goal of the investment
Before beginning the hunt for a suitable property, an investor must first determine his investing goals. Is he looking for a steady stream of rental income or is he more interested in capital gains? Long-term investors with a higher risk appetite who favor developing places over those looking for rental income who choose areas with easy access to basic services prefer price appreciation over rental revenue.

3. Consider all of your expenses
In general, buy-to-let properties (especially those that are encumbered by a bond) do not make money in the first few years of ownership. As a result, anyone considering purchasing property in this sector should carefully consider the additional costs. Municipal rates are not uniform and vary by location. While this isn’t necessarily a bad thing if the region in question is well-kept, it might be a problem if a suburb has service delivery issues. Rental properties must be maintained, and these expenditures must be factored into the equation.

4. Observe the future
Find out what plans are in the works for a specific location so you can forecast its future. Information about infrastructure project ideas can often be found on government and council websites, and you can contact your local council for additional information. It’s also a good idea to keep an eye on any residential developments near amenities like schools and commercial centers.

5. Keep an eye out for the right kind of property
After you’ve decided on a place, you’ll need to find the suitable kind of property for it. Because when you’re looking for an investment property, you want to choose one that will be in high demand from both tenants and potential buyers in the future.

One thing to consider in your search is whether the property is appropriate for the average age of the area’s people.

What exactly do we mean?

Find out about the demographics of the area and what’s important to that group. You wouldn’t want to buy a home with a lot of stairs in an area with an elderly population. When looking for an investment grade home, giving this extra thought to the sort of property and its future demand is a wonderful place to start.

6. Look into the competition
Look at other postings in the area to see what else is available. If there are an exceptionally large number of rental homes available, it may indicate that demand is low in the area. While competition is beneficial in business, it is not always beneficial when it comes to real estate. High vacancy rates provide tenants more options, which may have an impact on the rental rates charged by landlords.

7. Look for potential development areas
Property investing relies heavily on capital growth, so keep an eye out for locations that are growing in terms of population, economics, and local infrastructure. This is why CBDs and their environs are such popular investment destinations.

8. Property price
Buying at the proper price is an important aspect of achieving excellent capital returns when investing in real estate. Investors must select a home that fulfills all of their requirements while remaining within their budget. Experts point out that while the most cheap places are likely to see delayed development, those that are already expensive have the least room for price increase in the future.

9. Understand the needs of tenants
Choose a type of property that appeals to the individuals who are currently renting in that neighborhood. A small unit, for example, may be less expensive than a house, but if the local market is primarily made up of families, your investment property will not appeal. It will also help you whether a home offers amenities that are desirable to the target market, like off-street parking or closeness to public transportation.

Bottom Line
Purchasing the “correct” rental property necessitates a significant amount of time and effort. It’s critical to keep your expectations in check and to make sure that your personal finances are in order so that you can wait for the property to start making money rather than having to live on welfare.

As one expert accurately pointed out, buying a rental property isn’t the first step in investing in the buy-to-let sector; it’s the first step in establishing a financial situation that allows you to do so.

for more real estate content click here: www.pwanmax.com/blog

When you come across the ideal beachfront home for sale, you may be tempted to throw caution to the wind, and relocate there right away. Who can blame you, after all?

Having beautiful sandy beaches, a crystal blue sea, and a nice breeze in your hair as part of your everyday life is definitely worth taking a chance! But why do we adore living on the beach so much? What are the most compelling reasons to invest in beachfront property?

Many people share the ambition of owning a beachfront house. How relaxing would it be to wake up to the sound of waves crashing on the shore while you sip coffee on your balcony while watching the sun glisten on the water? While living on the beach may appear to be a pipe dream for some, it is a reality for others. It does, however, have its negatives, as do many things in life. Here are some pros and cons to consider before purchasing your dream seaside home.

PROS
1. Purchasing beachfront property might be a wise financial decision
Despite the fact that beachfront residences are typically more expensive, purchasing one might be a wise investment. That isn’t only in the hazy sense of it being an investment in your happiness (though that is true as well). We’re talking about a monetary investment here. If you don’t intend to live on the property full-time, you can rent it out for a portion of the year to supplement your income. When it’s time to sell, your home will almost certainly fetch a higher price than a comparable home that isn’t on the beach.

2. Do you require some more cash? You’ve found the ideal earner.
Renting out your beach house should be simple if you enjoy traveling or simply need some extra cash. Profit from the high number of tourists throughout the holiday seasons by renting out your home to them. Without much work, you could be able to cover your mortgage payment for a while.

3. It’s possible that living near water is beneficial to your health.
For as long as they’ve been as a species, people have been drawn to bodies of water. It used to be that the only way to survive was to live near water. However, we now do it just because we enjoy it. And, according to some recent studies, there may be health-related reasons why we evolved to be so drawn to the water. For example, living near water has a calming influence on our minds.

When we spend time near rivers, lakes, and oceans on a regular basis, we feel less stressed and anxious. The ambient noise of the water is also beneficial for stimulating creativity, getting a good night’s sleep, and reducing stress. Seawater and air (in small doses) may also be beneficial to your skin and lungs.

4. Your house is worth more than identical houses that aren’t on the beachfront
A home that looks just like yours but isn’t on the water isn’t worth as much as yours. Homes on the shore tend to hold their value longer due to the high cost of coastal land.

5. You don’t even have to leave your house to go for an afternoon swim or practice sunrise yoga on the beach.
There’s no need to load the car, look for parking, or schedule your beach day around traffic. Step outside your back door and plant your toes on the sand! Every morning, you’ll be greeted by beautiful sunrises, and every evening, you’ll be greeted by seaside breezes.

6. There’s Never a Dull Moment
Living near the shore, like any other area on the planet, has its drawbacks. At the beach, on the other hand, you’ll never be short of excitement. If you’re looking for something to do, there are plenty of alternatives for shopping, dining, and entertainment.

CONS
Isn’t it amazing how wonderful all of it sounds? But, before you start looking for beachfront properties and making a permanent move to the beach, consider the drawbacks of doing so. After all, it’s better to be safe than sorry!

1. Sand gets into everything
In all those postcards you’ve sent and received over the years, sandy beaches are unmistakably beautiful. However, living on one may cause you to loathe sand with all your heart and soul. The problem is that sand doesn’t stay on the beach for very long. It finds its way into your home, your flooring, your bed, your electronics, your purse, your clothes, and even your eyes! It basically goes into everything. When you live on the shore, there’s no way to truly get rid of it. As a result, you’ll have to deal with it. Forever.

2. Costs of Upkeep
The cost of upkeep that comes with owning a beach property is one of the top concerns among homeowners near the coast. The corrosive nature of saltwater, the possibility of flood damage, and the high cost of insurance all threaten to burn a hole in your wallet. While these are valid concerns, the advantages of living near the beach and the investment possibilities of oceanfront property nearly always outweigh the disadvantages.

3. Lack of privacy
Let us pause you right there if you’re dreaming of a tranquil evening on your own private and secluded beach every day for the rest of your life. First and foremost, don’t you have any relatives that don’t live on the beach? Because they’ll be coming to see you as often as they can. Second, and perhaps more crucially, are you familiar with the concept of holiday season? Because the holiday season means dealing with a continual stream of tourists. You can probably imagine how much peace that will bring you.

4. The exterior of your home, your cars, and other outdoor equipment can be damaged by salty air and sand
The combination of salty sea air, humidity, and wind can wreak havoc on your belongings. You’ll have to pay more attention to exterior maintenance than people who reside further away from the ocean. Car upkeep is also a significant aspect. Consult your mechanic for the best method for keeping your automobile safe from salt, sand, and general moisture.

Bottom Line
Ultimately, you will have to decide whether buying beachfront property is a wise decision or not. The sand, the expenses, and the tourists may be a little price to pay for a piece of private paradise for some. For others, those same circumstances might turn heaven into hell. Living on the shore has both pros and cons. Now it’s up to you to choose which is most important to you!

Related: Cost of living in Lagos (Nigeria’s most expensive city).

for more real estate content visit: https://pwanmax.com/blog/

Buying a home can be exciting. It also can be somewhat daunting, even if you’ve done it before. You will deal with real estate terms like mortgage options, credit reports, loan applications, contracts, points, appraisals, change orders, inspections, warranties, walk-throughs, settlement sheets, escrow accounts, recording fees, insurance, taxes…the list goes on. No doubt you will hear and see words and terms you’ve never heard before. Just what do they all mean?

The real estate sector, like any other, is based on a bevy of terminology that are frequently misinterpreted. You’re not alone if you’ve ever looked up amortization, right of refusal, or transfer tax. Certain real estate terms and phrases used in the mortgage application, property search, and house purchase process are unfamiliar to some people.

When speaking with industry professionals, such as agents, and associating with friends who are also homeowners, you may proudly demonstrate how much you know if you have a basic comprehension of real estate terms like these.

Are you ready to take your real estate knowledge to the next level? Take a look at some of the most important real estate terminology to understand, especially if you’re a first-time buyer

1. Appraisal
To determine the approximate worth of a piece of real estate, an appraisal is required. The mortgage lender sends out an appraiser during the home sale to seek a professional assessment on the property’s valuation. This information assists the lender in determining if the property is worth the loan amount requested by the potential buyer.

2. Assessed value
The assessed value of a property is used to determine the appropriate tax rates. In making final decisions, an assessor includes sales of similar properties as well as home inspection findings.

The assessed value is the most frequently accepted worth of your home when it comes to selling it. It is the most reliable metric for determining the value of a home.

3. Asset
A resource with economic worth that an individual, corporation, or country possesses or controls with the hope of future gain is referred to as an asset. Assets are bought or developed to raise a company’s value or benefit its operations, and they are reported on the balance sheet. Whether it’s manufacturing equipment or a patent, an asset can be looked at as something that can create cash flow, cut expenses, or increase sales in the future.

4. Buyer’s agent/listing agent
A buyer’s agent, also referred to as a selling agent, is a registered real estate professional whose job it is to find a buyer’s next home, represent their interests by negotiating on their behalf to get the best pricing and purchase scenario possible. This agent is the buyer’s fiduciary.

5. C of O
The Certificate of Occupancy, often known as a C of O, is a document issued by various Nigerian state governments to landowners and property buyers as a genuine confirmation of ownership once all conditions have been satisfied.

6. Condominium
A unit in a building with multiple units. The owner of a condominium unit owns the unit itself and has the right to use the common areas with other owners, but the condominium association owns the common features such as the outside walls, floors, and ceilings, as well as the structural systems outside of the unit. Building maintenance, property upkeep, taxes and insurance on shared areas, as well as reserves for renovations, are normally covered by condominium association fees.

7. Debt-to-income ratio
This is a measure of how much debt you have compared to the amount of your debt expenses, including your monthly housing payment, divided by your gross monthly income and multiplied by 100, is the debt-to-income, or DTI, ratio used by mortgage lenders. This allows lenders to calculate affordability based on their available loan programs and estimate how much you can afford to pay for a mortgage on a monthly basis.

According to Investopedia, lenders look for borrowers who spend 28 percent or less of their total monthly income on housing and less than 36 percent of their income on loan payments. If either percentage is large and you want to buy a house, you may need to make some adjustments to your budget.

8. Deed of Assignment
Deed of assignment is one of the most popular real estate terms in Nigeria today. Simply explained, a deed of assignment is a document that states the transfer of ownership of a piece of land from one person to another. A Deed of Assignment, also known as a Conveyance, is only required in transactions where the original recipient of state-allocated land desires to transfer his claim on the asset to another individual or if repeated transfers of ownership have happened.

A proper Deed of Assignment must include the name of the C of O holder who wishes to transfer ownership as well as the party to whom the assets’ rights will be allocated. Perfection at the state’s Land Registry is essential to ensure that a Deed of Assignment meets all legal criteria.

9. Easement
An easement is a non-possessory right to use and/or enter onto someone else’s real property without actually owning it. It’s “best exemplified by the right of way that one landowner, A, may have over another’s land, B.” It’s comparable to real covenants and equitable servitudes.

10. Encumbrances
A claim against a property by someone who isn’t the owner is known as an encumbrance. An encumbrance can affect the property’s transferability and limit its free use until the impediment is removed. Mortgages, easements, and property tax liens are the most frequent types of encumbrances on real estate. Non-financial encumbrances, such as easements, are an example of non-financial encumbrances. Personal property, as opposed to real property, can be encumbered.

11. Land Title
A land title, also known as a certificate of title, is a legal document that outlines a person’s or group’s ownership rights in a piece of land. A title can help prospective purchasers and land owners learn more about existing liens, usage rights, easements, natural resource rights, and other rights, in addition to confirming ownership of the property.

12. Omo onile
This actually refers to the offspring of the original landowners, who claim land ownership based on their ancestors’ ties to the land. They act like land hijackers, employing force, trickery, and intimidation to acquire access to and control of increasingly scarce land.

13. R of O
A right of occupancy (R OF O) is merely an offer, whereas a certificate of occupancy (C OF O) certifies your ownership of the property. A Local Government Authority normally grants the right of occupancy, which is defined as a conventional right of possession.

Real estate is full of jargon (“DOM”, “HOA”, “pre-qual”, etc.), and it can add layers of confusion to an already convoluted process. Whether you’re buying or selling a home, we created this resource to help you learn the vocabulary on the most popular real estate terms

For more real estate content go to: www.pwanmax.com

Making the decision to welcome a pet into your life is a big one. Adding a furry family member will impact how you spend your time and money, and you may even need to make improvements to your house to suit your pet. So, if you’ve carefully considered your options and are ready to adopt a pet, the next step is to figure out what kind of pet is right for you and your family as there are different type of pets to consider

The majority of pet owners belong to one of two groups: canine or feline. You probably have a clear notion of what kind of pet you want to get, but each sort of animal has its own set of traits to consider. You should also ask yourself the following questions in addition to your personal preferences:

1. Adopt/buy them young or grown?
Some individuals want a pet that will grow up with their children, while others prefer an adult pet that is already house trained and has some manners. If your home is already overburdened, an adult or teenage pet may be an excellent fit. A puppy can be a terrific alternative if you have the time. Giving an older animal a place to live out their golden years is something you might want to consider if you have older children or a quieter home.

If you have little children, you may not like to get a pet that they will want to carry around with them (and possibly drop or accidentally step on). If you adopt a larger animal, the kids should still be attentive, but they don’t need to be as cautious.

On the other hand, towards the end of their lives, many elderly pets have more costly medical difficulties. If you adopt or get an older pet, make sure you understand the type of medical care it will need and that you are financially prepared to cover those costs. Of course, any dog or cat will become old at some point, and even young animals might have unanticipated medical concerns, so budgeting for any necessary medical treatment that may arise is always a good idea.

2. What type of personality or energy do you desire in your new pet?
Do you want a high-intensity adventure dog? A dog from a herding or sporting breed might be a good match for you.

Are you on the lookout for someone to cuddle with? Again, this isn’t always a deal breaker, but some pets prefer to snuggle rather than run. Non-sporting or toy breed dogs, for example, are generally a decent choice (though most people who have encountered little dog “zoomies” may disagree right now).

3. Is it possible to find a respectable breeder?
If you do decide to purchase a pedigree dog or cat, consult your veterinarian or a breed club for a recommendation of a trustworthy breeder. Request any pertinent information from the breeder, including health screening certifications, and a detailed medical history, including vaccines and worming.

Request to meet the pet’s parents, relatives, and siblings in order to assess their temperament, general health, and welfare, as well as to determine whether the parents or any of their other litters have developed genetic diseases or disorders.

Inquire about the children’s socialization, and avoid those who were raised in kennels, since they may have missed out on essential components of growing up.

4. Have you considered your way of life?
You may have a general concept of what type of pets you want, such as a dog or a cat, but consider what would be ideal for your home and lifestyle.

If you work full-time and want a dog, for example, who will look after them throughout the day? Are there any dog day care services in your area that you could use, and have you looked into the costs?

Will they have access to outside space while you’re gone during the day if you want a cat, and how will you feel if you come home to a clawed sofa? Make sure the size, temperament, activity needs, lifespan, and health predispositions of different dogs and breeds are right for you by doing some research.

A more active dog certainly necessitates a greater time commitment than a goldfish. You may need a low-maintenance pet, such as a fish depending on your family’s schedule and lifestyle. A dog or cat, on the other hand, would be a fantastic choice if you have a lot of spare time and want a continuous companion.

5. Have you changed your assumptions?
You might appreciate the appearance of a pet, but that doesn’t imply it’s suitable for you. Every pet has its own personality, and different dog breeds have distinct characteristics – for example, huskies demand a lot of exercise and play to avoid boredom, and shih thus require a lot of grooming. If you have children, seek a dog that is friendly and confident rather than a specific breed.

The majority of people believe that all tiny pets are suitable for children, however this is not always the case. Some pets, such as hamsters, are nocturnal, meaning that when the kids want to play, their pets are blissfully resting and will not like being disturbed.

High-energy working or sporting dogs require daily mental and physical stimulation to avoid becoming destructive. Consider a low-maintenance pet if you are unable to provide adequate exercise for a creature that is motivated to work hard.

Rabbits are prey animals, therefore they don’t always appreciate being taken up and caressed. Less popular type of pets, on the other hand, can make excellent pets and enjoy social connection with people. So, before you have a little pet, think about what you want from it and do some study.

Bottom Line
Having a pet is a wonderful and fulfilling experience. However, because different type of pets have unique demands, you must ensure that you are prepared for a new addition to your family and house, as well as that you select the correct one for you.

Housing is one of the most important human rights, but a house is not complete without a roof. While building a new roof or replacing the existing may appear to be a simple task, the cost is influenced by a variety of factors. Aside from the shingles, the roof construction cost includes elements such as nails, ventilation, and labour. Follow us as we deconstruct the average cost of roofing a house in Nigeria

The cost of constructing and roofing a structure in Nigeria is heavily influenced by a variety of factors and varies greatly from one location to the next. Factors such as the type of foundation, the cost of constructing materials and labour, the house design, the type of roof, and the interior finish, to name a few.

For example, in Lagos, a flat can be built for $20 million, whereas in Ibadan, the identical flat could cost $15 million.

To figure out how much it costs to roof a building in Nigeria, you must first calculate the roofed area in square metres. That is, the length and width of the structure, as well as the ridge cap, ceiling,cladding, board, valley gutter, gutter trimming, among other things. Some of these measurements can be obtained from the roof plan, or better yet, physically measured during the construction process.

Roofing Sheets’ Originality and Authenticity
After a few years of exposure, certain sheets change colour, resulting in a flowing splash of gold and rust.

Aluminium roofing sheets
They are the favoured roofing material for many Nigerian home builders since they are less corrosive and do not leak, unlike zinc roofing sheets. Long span corrugated aluminium roofing sheet and step tile aluminium roofing sheet are the two varieties of aluminium roofing sheet. Red, blue, yellow, green, chocolate, and brown are some of the colours available. These types of roofing materials are widely utilised in Nigeria’s major cities, including Abuja, Lagos, Port Harcourt, and others.

Zinc roofing sheets
In historic cities like Ibadan, zinc roofing sheets are often used. When compared to other forms of roofing sheets, they are quite inexpensive. Zinc sheets are durable and can bear both heat and weight.

Abestos
Although it is not environmentally friendly, asbestos is also inexpensive and has the ability to absorb heat and resist corrosion. It has been outlawed in many Western nations due to the health risks it poses.

Stone-coated or stone chip roofing tiles

As the foundation metal for this roof covering, stone-coated or stone chip roofing tiles are formed from an alloy of aluminium and zinc, sometimes known as “galvalume” or “Alu-zinc” metal sheets. Stone coated roofing tile comes in a variety of styles, including shingle, bond, classic, Roman, Milano, and shaking. The names, however, may alter from one maker to the next.

The corrugated design of this roof tile adds to its appeal. Some have two stone colours on them. Original stone covered tiles provide any home a distinct advantage over the competition. In general, they provide good value for money. Following the trend, stone coated roofing tiles appear to be the newest in town, with a 50-year lifespan. During this time, these tiles will not corrode, fade, or crack.

Wood is the most popular material for roof trusses. It is inexpensive, readily available, and simple to work with. They are used for woodwork before the roofing sheets are fitted during the construction of a house.

The prices of roofing materials in Nigeria are listed below (Per Square Meter)
Bond style roof tile (0.45 – 0.55mm)- ₦3,300

Classic style roof tile (0.45 – 0.55mm)- ₦3,400

Shingle style roof tile (0.45 – 0.55mm)- ₦3,400

Milano design (0.55mm)- ₦3,400

Wooden Shake design (0.55mm)- ₦3,400

Roman design (0.55mm)- ₦3,400



1m of 0.45mm Corrugated Aluminium Long Span roofing sheet ₦2,100

1m of 0.55mm Corrugated Aluminium Long Span roofing sheet ₦2,700

1m of 0.70mm Corrugated Aluminium Long Span roofing sheet ₦3,200

1m of 0.90mm Corrugated Aluminium Long Span roofing sheet ₦4,000

Factors Affecting the Price of Roofing a House in Nigeria
The cost of house roofing a house in Nigeria is determined by a number of factors. Furthermore, even if they have the same number of units, no two houses can have the same roofing costs.

Here are some factors that influence how expensive or inexpensive it is to roof a house in Nigeria.

1. The Foundation of the House
The style and size of a house’s foundation will almost certainly impact how much it will cost to roof it. The foundation of the house is where the plans and units are carved out. This determines how many square metres the house takes up in total. In comparison to larger houses, buildings with smaller sizes or less square metres usually require less roofing sheets and components.

2. Roofing Design
New trends and designs arise over time, not only in the fashion world but also in home construction. Roofing styles have changed over time. We are now living in an era of high roofing

4. Wood Types
The type and quality of wood used in roofing can also influence the price of a house in Nigeria. The cost of using hardwoods or steel is likely to be higher than using soft, low-quality woods. These factors also influence the materials required for home roofing in Nigeria, as well as their costs and duration.

5. Roofing Sheet Types and Quality
Over time, roofing sheets have changed. In Nigeria, we now have more advanced, long-lasting roofing sheets. Nonetheless, the Nigerian market still has a scarcity of low-cost rooting sheets. In Nigeria, there are many distinct varieties of roofing sheets, as well as a variety of pricing.

The cost of roofing a bungalow or home in Nigeria is or will be determined by the kind chosen, the quantity of the type chosen and the quality of the type chosen.

6. Labour
The cost of roofing in Nigeria is also heavily influenced by the labour engaged on the job. Roofing professionals charge differently depending on their level of competence.

Cost of Roofing a 4 Bedroom Bungalow
The cost of a roof for a four-bedroom bungalow is determined by the criteria mentioned above. The length, width, and height of the roofing are crucial.

The cost of roofing a four-bedroom cottage with stone coated roofing sheet is estimated to be between N1.5 million and N2 million, based on consultation and interviews. It costs roughly N1.5 million to roof a four-bedroom home or flat using aluminium zinc or roofing sheet.

Cost of Roofing a 3 Bedrooms Bungalow
Because all of the rooms are master suites, the modern three-bedroom bungalow now has more square metres. The cost of roofing a three-bedroom home using stone coated roofing sheets should be between N1.5 million and N1.8 million.

Cost of Roofing 2 Bedroom Bungalow
When stone coated roofing sheets are used, roofing a two-bedroom home costs roughly N1 million. Roofing a two-bedroom flat with aluminium roofing sheet costs between N750,000 and N800,000. However, if expensive and advanced roofing designs are used and installed, this could cost more.

Cost of roofing a Duplex
Roofing a duplex, regardless of its size, is expensive. This is due to the many designs that are commonly used in duplex construction. As a result, the building’s size and square metres increase.

Roofing a modern 3 or 4 bedroom duplex in Nigeria will cost an average of N2 million to N3 million, depending on the type of roofing sheet chosen, according to reputable roofing specialists. When high-quality stone coated roofing sheets are utilised, it may exceed the amount specified above.

Bottom Line
Aside from the total budget mentioned above, it is crucial to remember that additional charges should be factored in because various situations may arise during the construction process.

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The roof is one of the most important part of a building, as it protects the residents of the house from different things like rain, birds, critters, and even insulation.

When it comes to replacing your roof due to storm damage, aging, or to raise the value of your home, it’s not only necessary to choose a roofing material that will survive, but it’s also crucial to choose something that will look nice! We’ve put together a list that shows the different types of roofing styles that you can’t go wrong with for people who can’t afford to engage a designer or architect to advise on what the ideal style roof is for your house design and taste.

A roof communicates a lot about a home’s style, even if it’s not the first thing you see. It has a significant impact on a home’s construction as well as its appearance from the outside. A roof communicates a lot about a home’s style, even if it’s not the first thing you see. It has a significant impact on a home’s construction as well as its appearance from the outside. Did you know that picking a roof for your dream home is a difficult task? Yes! Many factors must be considered while choosing a house roof design, including planning issues, technical construction methods, benefits, usage, and the home’s appearance.

Simple home roof designs have been increasingly popular in recent years, owing to their low cost.

1. Flat Roof House Designs
This is one of the types of roofing design that is becoming more popular in Nigeria. This roofing style is more prominent in luxury style apartments in the country. Flat roofs, also known as low-slope roofs, have been around since ancient times. They are frequently constructed horizontally with a little slope. This demonstrates that, despite their appearance, they are not fully flat; they contain a slight slope that aids in water drainage.

Flat roofs are commonly utilized in arid climates where the roof space can be used for shelter, relaxation, and other activities. Flat roofs, as contrast to pitched roofs, are defined as roofs with a 3 in 12 slope. In Arabian, Egyptian, and Persian constructions, they are the most prominent roofing system.

The Roofs have been upgraded by incorporating various materials and designs into their construction. Although flat roofing is most commonly associated with business buildings and skyscrapers, most households have begun to consider it as a viable option to pitched roofs.

2. Sloping/pitched Roof Designs
A pitched roof is one that slopes down from one edge to another, usually in two portions at an angle from a central ridge, although sometimes in one part. A roof’s ‘slope,’ or vertical rise split by horizontal span, is a measure of its steepness.

A pitched roof differs from a flat roof, which is defined as any roof with a slope of less than 10° in theory; however, in practice, pitched roofs are significantly shallower, with gradients ranging from 1:40 to 1:80.

This type of roofing design is still the most popular in the country today. This is due to the fact that most parts of Nigeria get a lot of rainfall. A sloping roof therefore is needed for the water to run off.

When compared to other roof designs in Nigeria, it is less expensive to build. A deck or surface with a gentle slope from the top of the roof or heap of the roof to cover the entire building structure is used in a pitched roof system. The roof’s slope is determined by the span, the site’s environment, and the nature of the covering material. A pitched roof’s slope should be such that workers performing repairs can walk and work without worry.

3. Cross Gable Roof
A cross gable roof is made up of two or more gable rooflines that meet at an angle, usually with the two ridges aligned perpendicularly. Because a cross gable roof changes the contour of the house’s structure, houses with this style frequently have a more complicated plan. Homes with a cross gable roof, for example, could have distinct wings, a bigger porch, or an attached garage.

A gable is a slanted roof that forms a triangle wall. The gable is not the roof; it is the wall from the roofline downwards. Yet you must have a gable roof to have a gable. The triangular area created by a gambrel roof is also known as a gable. Some definitions consider the roof’s terminal edges as part of the gable.

4. Pyramid Roof
A pyramid roof is of the popular types of roofing and it is a sort of hip roof with four triangle-shaped sides that all slope downward. They are constructed on a square or rectangular framework. Pyramid roofs are a popular choice for sheds, gazebos, and summerhouses because they are unique and stand out from other types of roofs. The pyramid roof is particularly stable due to its unique design, specifically against the wind because the surface of attack is so small. The ability to install solar cells on the roof surfaces adds to the pyramid roof’s appeal.

A rain-proof substructure must be built due to the lower inclination. The rain-proof structure is extremely significant because it must ensure that rain can drain effectively while also preventing snow from falling down in an uncontrolled manner throughout the winter. However, with such a structure, the space beneath the roof is useless.

5. Dormer
A dormer is a vertically positioned window on a slanting roof. The roof of the dormer can be flat, arched, hipped, pointed, or embellished, and it can be flat, arched, hipped, pointed, or ornamented. Dormer windows come in a variety of shapes and sizes and can be installed into the roof or a wall.

The dormer’s roof style may compliment the house’s bigger roof or other architectural characteristics. Dormers may either add elegance and curb appeal to your home or make it look ludicrous, so you need to think about when and where you want to put them.

The dormer roofing style is starting to make a major comeback into Nigerian society. They were heavily utilized in the country during the colonial periods.

Bottom Line
While the types of roofs for homes vary depending on climate, architectural style, and personal preference, it is important to be aware of the different types of roofing shapes and house roof styles that are typical in your area and for your particular type of home.

This will assist you in making the greatest decision for your needs, whether you are renovating an existing structure, building a home from the ground up with a custom construction, or everything in between.

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Buying and owning real estate is a rewarding and profitable financial option. It differs from bond and stock investment. Prospective real estate buyers can use leverage to purchase a home by paying only a portion of the total cost upfront. They will pay the remaining payment with interest over time.

Being a landlord of a rental property is one of the greatest ways for investors to generate money in real estate. House flippers, on the other hand, buy undervalued real estate, fix it up, and resell it for a profit. More information on how to invest in real estate may be found here.

You probably don’t want to be a landlord if you’ve ever had one: It doesn’t appear that taking calls about oversized bugs and overflowing toilets is the most exciting profession in the world.

However, if done correctly, real estate investing may be profitable, though not spectacular. It can help diversify your current investment portfolio while also providing an additional source of income. And many of the best real estate ventures don’t necessitate attending to every whim of a tenant.

The problem is that many new real estate investors have no idea where or how to begin. Here are some of the top real estate investment opportunities, ranging from low-maintenance to high-maintenance.

Best ways to invest in real estate

1. Buy REITs (real estate investment trusts)
Real estate investment trusts (REITs) allow you to invest in real estate without owning the property. They’re organizations that own commercial properties, such as office buildings, retail spaces, apartments, and hotels, and are sometimes compared to mutual funds. REITs tend to offer substantial dividends, making them a popular retirement investment. Investors who do not require or desire monthly income might have their dividends automatically reinvested to increase the value of their investment.

Is it wise to invest in real estate investment trusts (REITs)? They might be simple, but they can also be complex and varied. Some, like stocks, are traded on a stock exchange, while others aren’t. Because non-traded REITs are difficult to sell and value, the type of REIT you buy can have a major impact on the amount of risk you take on. In general, new investors should stick to publicly traded REITs that may be purchased through brokerage firms.

2. Make use of online real estate investing platforms
You’ll understand online real estate investment if you’re familiar with organizations like Rise Vest and Wealth.ng, which connect borrowers with investors eager to lend them money for various personal requirements like a wedding or house remodelling.

These platforms bring together real estate developers and investors looking to fund projects with financing or equity. In exchange for taking on a large degree of risk and paying a fee to the platform, investors hope to get monthly or quarterly dividends. These are speculative and illiquid, like many real estate investments, in that you can’t readily sell them like a stock.

3. Investing in Rental Properties
Investing in rental buildings, as well as land ownership, is a time-honoured tradition. After purchasing a property, you rent it out to renters. You are responsible for paying the costs of property maintenance as the landlord.

Those with do-it-yourself (DIY) and renovation abilities, as well as the patience to manage tenants, may find rental homes to be a rewarding business. Although this technique does not necessitate a large sum of money, it does necessitate sufficient finances to cover maintenance expenditures during unoccupied months.

However, you will have a steady income and assets that will appreciate. It also uses leverage to raise capital, and there are several tax-deductible expenses associated with the company. However, keep in mind that managing tenants can be time consuming because there is a risk of property damage from tenants as well as a loss of income due to vacancies.

Of course, you can buy a complete investment property and rent it out. Find one with a total cost of living that is less than the amount you may charge in rent. You’ll also need to hire a property manager if you don’t want to be the one who shows up with a toolbelt to fix a leak — or even the one who calls that person.

If you handle it yourself, you’ll learn a lot about the industry, and you’ll have greater experience when you acquire future properties.

4. Consider flipping investment properties
Here, you buy a low-cost home in need of some Care, renovate it as efficiently as possible, and then flip it for a profit. House flipping is a term used to describe the process of selling this type of home.

This area of work is for persons who have a lot of experience with real estate appraisal, refurbishment, and marketing. It also requires a lot of money and the capacity to conduct and supervise repairs as needed. House flipping is regarded as the craziest aspect of real estate investing. House flippers are not the same as landlords who buy and rent properties.

The majority of flippers are aiming to sell discounted properties within six months after purchase. Pure house flippers do not invest in the property’s reconstruction. As a result, their investment must have an intrinsic worth that allows them to benefit without making any changes. Otherwise, the house will be eliminated from consideration.

Because so much of the math behind flipping needs a very accurate estimate of how much repairs will cost, which is not easy to achieve, there is a higher element of risk.

Another disadvantage of flipping is that the longer you have the property, the less money you make because you’re paying a mortgage without earning any money. You can reduce this danger by staying in the house while it is being renovated. As long as the majority of the updates are cosmetic and you don’t mind a little dust, this works.

5. Make a room rental
Finally, you might use a site like Airbnb to rent out a portion of your property or use it for short lets to get your toes wet in the real estate waters. It’s house hacking for the averse to commitment: You don’t have to sign a long-term lease; possible tenants are checked to some extent by Airbnb, and the company’s host guarantee protects you from damages.

Renting a room appears to be a lot more approachable than the more complex concept of real estate investing. You can rent out a spare room if you have one.

The finest real estate investments, like all financial decisions, are those that benefit you, the investor. Consider how much time you have, how much money you’re prepared to commit, and whether you want to be the one to handle home issues when they arise. Instead of investing directly in a property, try investing in real estate through a REIT or a crowdfunding site if you don’t have any DIY skills.

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It’s critical for investors to keep up with the newest commercial real estate trends and learn how to get the most out of their money. If you’re new to commercial real estate investing, we’ve compiled a list of the top 5 current trends as well as those predicted for the coming year. You will then be able to determine the best course of action for your funds.

The impact of the pandemic on the commercial real estate (CRE) market will have a long-term influence on a number of market sectors. The genie of the remote workforce isn’t going away, and the reliance on e-commerce and technological advancements for home delivery will continue to upset retail. There are reasons to be optimistic, but not in all industries, and there are still a lot of emperors without clothing out there claiming that everything will be OK. There are booming CRE sectors, some of which will merely need to pivot to adapt to the new normal, while others may need to fully reinvent themselves.

1. Multifamily Real Estate Is Back On The Rise
Pwan Max, a pioneer in property management technology for the apartment industry, has witnessed firsthand how the multifamily real estate market has recovered more quickly than other real estate sectors. It’s possible that some markets had little or no impact, and that some sectors are actually stronger now that the lockdown has ended. Yes, government assistance has aided, but the general market has quickly recovered and will continue to do so in 2022.

With minimal vacancies, stable rental prices, and substantial development for the new year, the multifamily market is booming. Investors are in agreement: According to recent data, market-rate apartment sales totaled up 35% over the previous year. This corresponds to the average growth rate for the previous five years. Employees no longer need to be near their physical office site, therefore apartments in secondary markets or further from main cities may benefit from this remote work trend.

2. Industrial Real Estate Thriving at a Time of Crisis
Due to the rise of e-commerce, the industrial industry had a big increase during the pandemic, and it appears that this trend will continue through 2022. E-commerce growth increased to 44.5 percent in Q2 from 14.8 percent the previous quarter, putting pressure on retailers, wholesalers, and third-party logistics providers (3PLs) to reduce shipping costs. Industrial real estate continues to be in high demand.

3. Office Real Estate Is in Peril
Because many professionals worked remotely during the epidemic, having a flexible work location is no longer a luxury, but rather a necessity. Businesses have switched to a remote workforce from a “always in-person” workforce, and the vast majority of that workforce prefers it.

This trend, in our opinion, isn’t going away anytime soon. This will result in a considerable drop in the demand for office space. Companies are not renewing their leases and are drastically lowering their square footage, all of which point to negative developments in the commercial real estate market. We’ve seen that CRE owners aren’t talking about the exodus and are instead telling everyone who would listen that everyone is coming back. They may even mention the need for flex space, but not how flex space will save space in the long run.

Some CRE owners may be working behind the scenes to keep corporations from leaving their buildings or creating new uses, but they are facing a liquidity pressure to keep up with loan payments. Serviceability of loans to keep CRE enterprises alive might be difficult or impossible.

4. The Use of Adaptive Re-Use Will Be Critical
The change to a mixed-use property is one of the saving graces for the struggling office and retail real estate markets, as apartments in a mixed-use setting command 13.9 percent more rates than apartments that are not. We feel this is the most significant potential in CRE, with one strong sector able to support the faltering one.

CRE real estate executives can repurpose an abandoned structure in a variety of ways to revitalize an area. Converting unused office or retail space into apartments or nursing care facilities, for example, can make the most of available space while also meeting market demands. Apartments can be built on top of shopping malls, while warehouse storage can be built below office buildings. Location, building structure, cultural value, sustainability, and return on investment are all important criteria in determining the best use of a property.

While some office building owners are anticipating a large influx of people returning to work, others are envisioning a future that blends the best of both worlds, addressing housing scarcity while also enlivening office and retail space.

Investing with a Private Real Estate Investment Firm Has Its Benefits

When done correctly, commercial real estate investing can be a good financial move. You want to put your money in the hands of people who can:

Investigate the real estate market, as well as the social and demographic trends.
Look for intriguing investment possibilities across a variety of asset classes.
To ensure the success and expansion of the properties in which they invest, they should keep a hand in the operation and management of the properties.

https://pwanmax.com/blog/2021/09/06/real-estate-investment-guide-for-beginners/

Commercial real estate (CRE) is property that is used solely for commercial purposes or to offer a workspace, as opposed to residential real estate, which is utilized for living purposes. Commercial real estate is frequently leased to tenants for the purpose of conducting income-generating operations. This vast category of real estate can range from a single storefront to a large shopping mall.

Retailers of all kinds—office space, hotels and resorts, strip malls, restaurants, and healthcare facilities—all fall under the category of commercial real estate.

Commercial Real Estate Fundamentals
Commercial and residential real estate are the two main types of property in the real estate market. Residential properties are those that are used for human dwelling rather than commercial or industrial purposes. Commercial real estate is utilized in commerce, as its name implies, and multi-unit rental properties that serve as tenants' homes are considered as commercial activity for the landlord.

Depending on the function, commercial real estate is usually divided into four categories:

Industrial use
office use
Rental housing for many families
Retail

Individual categories can also be divided into subcategories. For example, office space is frequently classified as class A, class B, or class C.

Class A buildings are the best in terms of beauty, age, infrastructural quality, and location.
Class B structures are typically older and less competitive in terms of pricing than class A structures. These structures are frequently targeted for restoration by investors.
Class C structures are the oldest, typically over 20 years old, in less desirable locations, and in need of care.
What Are the Benefits of Investing in Commercial Real Estate?
Investment in commercial real estate typically requires a substantial sum of money, which is difficult for a single retail investor to offer. Real estate investment trusts (REITs) and fractional ownership are the most frequent ways to invest in commercial real estate (CRE).

By reducing the ticket size, this style of investment lowers the barrier to entry into CRE for retail investors. However, a smaller ticket size does not always imply a smart investment opportunity.

Investing in commercial real estate has a number of advantages over other types of investments:
It is protected from market swings because it is real estate. It is a stable long-term investment option with a generally consistent rate of return.
It has a lock-in period that protects your investment while guaranteeing returns.
Any special purpose CRE in a strategic location can be a gold mine because it will be highly sought after by a particular section of renters, ensuring that the investment will continue to pay off as a passive income stream.
What Is the Best Way to Get Started Investing in Commercial Real Estate?
Individual investors can participate in commercial real estate, but the high cost of capital makes it impossible for a single investor to make the minimum investment in a commercial real estate firm.

The most popular way to invest in commercial real estate is through REITs or fractional ownership.

REITs: REITs are similar to mutual funds in that they invest in real estate. A REIT is managed by fund managers, and your investment is part of a larger investment pool that is spread across various properties. The fund managers choose these assets based on their historical performance and market trends. All of the assets' returns are combined and dispersed to investors based on their REIT fund participation.

Fractional ownership: This allows a group of like-minded people to pool their funds to purchase an asset. Normally, the minimum ticket size is in multiples of lakhs. Individual retail investors can hold one or more fractions of an asset, giving them a piece of the ownership pie, depending on their risk appetite and funds. Rent and capital appreciation returns are paid out in proportion to each investor's ownership stake.

The main difference between the two models is that, whether you like it or not, a portion of your investment in a REIT could be sitting idle in an asset that does not attract tenants for whatever reason. The only way to avoid your investment becoming a pricey paperweight is to withdraw fully from the fund.

Fractional ownership, on the other hand, provides you entire control over the asset you choose. You can still invest in other profitable assets while selling, selling, or trading your ownership share of a non-performing asset for another in fractional ownership.

Commercial Real Estate Management
Owning and managing leased commercial real estate necessitates the owner's full and continuing management. A commercial real estate management firm can assist property owners in finding, managing, and retaining tenants, overseeing leases and financing alternatives, and coordinating property upkeep and marketability. Because the rules and regulations regulating such property differ by state, county, municipality, industry, and size, a commercial real estate management company's specific understanding is beneficial.

The landlord must frequently strike a balance between increasing rents while reducing vacancies and tenant turnover. Because space must be altered to accommodate the individual demands of different tenants—for example, if a restaurant is moving into a facility that was previously leased by a yoga studio—turnover can be costly for CRE owners.
Commercial Real Estate Investing
Investing in commercial real estate can be profitable and act as a hedge against stock market volatility. When investors sell their properties, they can profit from appreciation, but the majority of their profits come from tenant rents.

Investing Directly
Investors can make direct investments, in which they own the physical property and so become landlords. People that either have a lot of information about the market or can hire firms that do are the ideal candidates for direct investment in commercial real estate. Commercial real estate is a high-risk, high-reward proposition. Because CRE investing necessitates a significant amount of capital, such an investor is likely to be a high-net-worth individual.

The ideal property is located in a location with a low supply of CRE and a high demand for it, resulting in favourable rental rates. The value of a CRE purchase is also influenced by the strength of the local economy.

Investing through a third party
Alternatively, investors can indirectly invest in the commercial market by purchasing market securities such as real estate investment trusts (REITs) or exchange traded funds (ETFs) that invest in commercial property-related stocks, or by purchasing commercial real estate-related companies such as banks and realtors.


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For property buyers and landowners in Nigeria, the Certificate of Occupancy, or C of O, is the
most crucial document. State governments in Nigeria issue the paperwork, which proves that
you possess the land or property in question. Purchasing a home without a Certificate of
Occupancy is the same as buying a car without a logbook. This is not the kind of predicament
you want to find yourself in as a Nigerian landowner or property owner.
By vesting all urban land within a state, the Land Use Act of 1978 standardized land
administration in Nigeria. It granted state governors the discretion to issue "statutory rights of
occupancy" as they saw fit. In addition, this act established the idea of land use (residential,
commercial, mixed-use, etc.).
As a result of this act, all previous freehold systems were abolished in favour of a leasehold
system. These leases are typically granted for a maximum of 99 years, after which they must
be renewed. A land with a Certificate of Occupancy, for example, has a 99-year term that can
be renewed.
WHAT IS A CERTIFICATE OF OCCUPANCY
A Certificate of Occupancy differs from all other title documents in Nigeria in one way: no land
can have two Certificates of Occupancy because it is the first title document issued on land
that has never been registered at the Land Registry, whether bare or developed.
The State Governor of the Nigerian state where the land is located may sanction the issuing of
an occupancy certificate, according to Section 9 of the Land Use Act 1978. When "any person
shall be entitled to a statutory right of occupancy, to give written evidence indicating such
right of occupancy," this legislation established the concept of land use (residential,
commercial, mixed-use, and so on).
STEPS TO OBTAINING THE C of O
There are procedures for getting a Certificate of Occupancy, and it takes at least 21 working
days to get one. However, other variables can cause delays.
1. Purchase and application
This is the first stage in the application for the C of O. The applicant must purchase and
submit an application package to the Land Use Allocation Committee (LUAC). The
acknowledgement slip is then obtained, as well as a letter of allocation offer (1 day).
Within 90 days, the applicant is supposed to pay for the land that has been allotted to
them.
2. Confirmation
The applicant receives a letter of confirmation, as well as the plot and block number
(Note that full payments must be made before Plots & Blocks are allocated). The
Scheme Officer is in charge of C of O application processing. After that, the Scheme
Officer will sign the paperwork and deliver it to the LUAC Executive Secretary within
five days.
3. Appraisal
The Surveyor General provides the Scheme Officer a digital survey that may take up to
two days to complete. The letter of allocation is signed by LUAC's Executive Secretary,
who also approves the processing. The Executive then signs the file and sends it to the
Governor's Senior Special Assistant (SSA) on Lands (2 days). The Senior Special
Assistant (Lands) assesses the entire file and forwards it to the Permanent Secretary
(PS) of the Lands Bureau with a cover memo (2 days). The message is transmitted by
notice if there is a query on the file; PS Lands signs the memo and sends it to the
Governor (2 days)
4. Approval
After approving the material within 48 hours, the Governor signs the C of O
electronically. Notification sends a message back if the file contains a query. After the C
of O has been reviewed and signed within 48 hours, the Governor signs off on the
paperwork and sends it to the Deputy Registrar for further processing. Within 48 hours,
the file is reviewed by the Deputy Registrar, who signs it and submits it to the Registrar
of Titles for final registration. The certificate of origin is registered, signed, and printed
by the Registrar of Titles (1 day).
LAND WHICH A C OF O CAN BE ISSUED
A land that can be awarded a Certificate of Occupancy should be undeveloped,
brownfield, or greenfield land that has never been registered before. There should be
no documents on the land that can be traced back to the land registration.
However, such land must be charted at the offices of the state and federal surveyors
general to determine whether it is free from government acquisition and, if it is,
whether it is committed or ratifiable.
If the land is free of acquisition or falls under ratifiable land, the land
beneficiary/applicant for the Certificate of Occupancy can then apply formally to the
state government for the issuing of the C of O on the unregistered land by submitting
the required paperwork and paying government costs.
If the land is being acquired by the government and is also committed (non-ratifiable),
the applicant will not be granted a C of O.
BENEFITS OF OWNING A C of O
1. A C of O identifies a person as the owner of a piece of land or property.
2. It makes it illegal for the government to take someone's land or property without
compensation.
3. Having a C of O boosts the value of one's property, especially in Abuja.
4. It prevents many owners from claiming a single property.
5. It can be used as security for bank and other financial institution loans.
6. It can be used to settle land ownership disputes between two parties.
7. During mortgage transactions, this is a very important document.
CAN CERTIFICATE OF OCCUPANCY BE REVOKED?
According to Section 28 of the Land Use Act, a Certificate of Occupancy issued on land can be
revoked by the Governor for grounds of overriding public interest, but a Deed of Assignment
cannot; only the Governor's approval provided upon the perfection of the Deed can be
revoked.
Conclusion
While having access to and ownership of land is a fundamental right for every citizen in
Nigeria, this right is not absolute. It is awarded by the Governor of the state where the land is
located if certain requirements are met. The Certificate of Occupancy, often known as a C of O,
is a document issued by various Nigerian state governments to landowners and property
buyers as a genuine confirmation of ownership once all conditions have been satisfied.

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When Buying a home in Lagos, there are a handful of things to be mindful of before purchasing a home, especially in Lagos which seems to be the hustle capital of the country. Before purchasing a home, there is a long list of things to look out for. Things that will help you stay vigilant and alert when searching for a house in Lagos.

Many home buyers have fallen victim to fraudsters, swindlers and even genuine sellers with disputes on their property. This is why caution is inexpedient when looking to buy a house in Nigeria and other parts of the world.

Here is a list of things to put into consideration before buying a home in Lagos:

1.Budget

2.Location

3.Investigate the seller

4.Resale value

5.Security

6.The quality of the building

7.Debt on utility

8.Road networks

9.Legal advice

10.Documents

1. Budget
The first and important factor to put into consideration when buying a home in Lagos is the budget. In most cases the budget will dictate the location and type of house. For example, houses in the suburban part of Ikorodu are cheaper compared to houses in the Lekki-sangotedo axis, just as houses in the Lekki axis are cheaper compared to those in Ikoyi/Victoria Island. Hence the amount that would afford you a duplex in one neighbourhood might afford you a 1 bedroom apartment in another, this is why it’s important to have a budget and know what your budget can afford you. In Lagos, typicallying a 1 bedroom apartment on the island ranges from 17M to 21M depending on other factors such as location and availability of smart features.

2. Location
After the budget has been determined, the next thing is to consider what location you want to secure your property and begin inspection. As stated above the budget is going to help narrow down on location and neighbourhood. with a budget of 20M for instance for a 1 bedroom apartment, you can narrow your search to Sangotedo, Abijo, Ajah, Badore, chevron etc. However, this depends also on other factors. eg a home with smart feature capabilities will cost more and houses located in prestigious estates will also cost way more.

3. Investigate the seller
When buying anything in Lagos it is of high importance to know who you’re buying from to avoid giving your hard earned money to scammers. You need to be sure if the person you’re transacting with has permission to sell you the house and if he or she is of good repute. The typical rule of thumb is to buy from a known real estate company, that way, you can hold them accountable on any breach of agreement

4. Resale value
When buying a home in Lagos you should be aware of its resale value. A home’s resale value is the amount it is expected to sell for at some point in the future. Many things, including any improvements made to the property and the overall age and condition of the home, can affect the resale value.

5. Security
Don’t be distracted by the excitement of purchasing a new home and forget to consider the security of the neighbourhood and that of the home itself. You need to keep an eye out for key indicators like security patrols, signs of vandalism and the likes. If there aren’t any security systems in place in the house, you could make further findings to ascertain how efficient it would be if you installed one. Lagos state especially the island operates on estate mode of settlement. This provides more security because every estate has its own independent security personnel apart from the local law enforcement agencies. However, it’s worth making a detailed research about any location before paying.

Check out our list of Apartments on the market

6. The quality of the building
We live in a world where developers don’t mind cutting on expenses and development costs to maximize profit at the detriment of homeowners, this is a major reason why we have low quality buildings in the country, hence the importance of knowing how good the building is.

7. Debt on utility bills
It is becoming a norm in Nigeria to rent or buy a house only to find out there is a debt on energy or waste tariff. This is why you need to investigate if there are debts on ground before acquiring the house along with the debts.

8. Road networks
How easy is it to access the property, are the road networks motorable ? you don’t want to purchase a property in an environment that isn’t motorable or easy to navigate. You should also consider the distance in proximity to places you regularly visit. Another aspect of road accessibility you should be aware of is flooding. It’s no longer a secret that at least 50% of Lagos, especially the island, has a flood problem. Which makes raining season the best time to go for house hunting. This makes it very easy to spot flooded estates.

9. Legal advice
Before making a move or Buying a home in any property in Lagos, it is advisable to seek legal advice from a professional or legal practitioner as they can help interpret the property documentations better and can spot pitfalls you might not know about.

10. Documentation (Deeds)
Lastly, one of the most important things anyone seeking to buy a house should be interested in is the original documents of the property, you must get every piece of evidence that proves you are the rightful owner of the property, this evidence is what will vindicate you should any legal issues arise in the property.

The list is endless, but these are some of the most important factors to look out for when seeking to purchase a home in Lagos. As stated above caution is the watchword and should be applied every step of the way.

In a nutshell you will find out that every property you come across has it’s pros and cons, and you will have to make your choice based on what works for you and what you have in mind.

Note that it is key to consider all the aspects we discussed when searching for your ideal home, and also keep in mind that there is no perfect property, hence you might have to make a little compromise. The most suitable home you find might need a little moderation or renovation as it might not be just exactly as you pictured it. if you are new in real estate investment and looking for how to start, we have a complete guide to real estate investment for beginners to help you get started
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Nigeria is a cultural and religious melting pot. The country is known for its cultural and
ethnic diversity. In terms of architecture, this means that Nigerians have access to a
diverse range of designs and styles from around the country and around the world.
Architectural trends, like other forms of art, come and go in Nigeria. What was
fashionable twenty years ago may no longer be fashionable, but what was fashionable
seventy years ago is now regarded as retro chic. It all depends on what type of house is
fashionable at the time. Nigerian houses exist in a wide range of shapes, sizes, and
styles. In the end, this means that the cost of production varies a great deal.

Here are the 10 common housing types in Nigeria with their estimated building costs

1. Bungalows
A bungalow is a type of house that consists of a single storey. They have a unique
history in the world of architecture. They are still a very popular choice for most home
buyers and renters. The reason being that they are very low maintenance, easy to build
and cost less than most housing types in terms of construction. In general, bungalows
are usually small in square footage, but large bungalows are not also uncommon.
Although bungalows are very cost efficient, they tend to occupy a larger area of a land
compared to their multi storey counterparts. That is due to the fact that unlike multiple
storey buildings that extend upwards, they extend outwards. Another disadvantage is
that due to the fact that bungalows are low to the ground, they are more susceptible to
break-ins.
Estimated Building Costs
The building costs in this example is that of a four bedroom bungalow. Estimating the
cost of a bungalow in Nigeria is somewhat difficult because the cost of building it in
Plateau state varies wildly to that of Lagos state. There are stages involved in the
building process that will affect and increase the cost of building. They are;
a. Buying a piece of land
b. Cost of drafting a plan for the building
The cost of the building plan depends on factors such as the architect employed
to carry out the plan, location and complexity of the structure. Nonetheless, the
cost of a building plan ranges from N60,000-N400,000.
c. Building the foundation
d. Setting to Lintel level
e. Roofing
f. Finishing stages.
All in all, the estimated amount it takes to build a bungalow in Nigeria ranges from
N13,500,000 to N27,000,000

2. Duplexes
A duplex is a type of building that consists of two floors. A duplex is usually confused
with a two storey building. Duplexes are residential buildings that consist of one kitchen
and one dining room. Duplexes contain two living units either side by side or on top of
one another. Although they are on separate floors, they are owned by one individual and
are sold as one. Duplexes are inhabited by a single family and the floors are connected
through a staircase.

Types of Duplexes
1. Standard Duplex: This duplex is a type of two-story house. The lower floor is
usually occupied by a living room and the kitchen, while the upper floors are
usually used for bedrooms and the kids' rooms.

2. Ground Duplex: Duplex houses are planned to be erected on the ground floors of
apartments, with the bedrooms on the lower stories facing a garden. The living
room and kitchen are located on the second story of the duplex flat. These types
of duplexes are ideal for people who enjoy gardening and have pets.

3. Low-rise duplex: The second floor of this duplex house design features large
balconies and an attic. It is usually built on a smaller scale than other types of
duplex houses, and creating these small duplex house designs and photographs
necessitates a great deal of thought on the part of the architects.
Estimated Building Costs
After separating the various stages of building a duplex and successfully combining and
approximating costs, it is safe to state that starting the construction process from the
foundation to the roof should cost between N25 million and N30 million.

4. Container houses
Container homes are exactly what they sound like: residences fashioned from steel
shipping containers that you see on trains, lorries, and ships transporting products all
over the world. People are constructing dwellings of all shapes and sizes out of these
massive Lego blocks.
10ft, 20ft, and 40ft shipping containers are the most common sizes. For a shipping
container home, the smallest shipping container can give roughly 100 square feet of
floor space. Eight larger containers can be combined to form a two-story house with a
floor area of roughly 1400 square feet. Hundreds of container micro-apartments can be
combined to form a large apartment complex.
What are the advantages of using shipping containers to construct homes, apartments,
cottages, and offices? With around 14 million 'out-of-service' containers on the planet,
there are plenty to go around. And there's something about large blocks that appeals to
everyone.
Aside from being trendy, interest in container homes is part of a broader trend toward
prefabricated and modular buildings as a way to save money. Many would-be
homeowners want to save money on construction and maintenance. There's also a
misconception that container homes help with recycling.
Estimated Building Costs
Construction costs range from N50 000 - N75 000 per sqm depending on final
specification and finishes.

5. Townhouses
A townhouse is a privately owned, multi-level residential home that shares at least one
wall with another property. Townhouses are sometimes referred to as row houses since
they are often built side by side, especially in densely populated areas.
A townhouse owner owns both the structure and the land on which it is built.
Townhouse clusters are sometimes part of a larger town-home community, which is
often controlled by a homeowners organization that establishes community rules,
collects membership fees from homeowners, and coordinates maintenance.
Estimated Building Costs
Although depending on a lot of factors surrounding the construction of the townhouse
such as location, size etc, the construction cost of building a townhouse in Nigeria
ranges from N45 million - N200 million

6. Traditional houses
Nigerian traditional houses are constructed to fulfil the social, cultural, and religious
needs of individuals as well as the entire community. Natural resources such as mud,
wood, palm, grass, wood, and other vegetable materials were used to construct
traditional Nigerian dwellings.
Estimated Building Costs
This is the cheapest housing type to build on this list and the estimated building cost is
about N100,000 and above depending on the size and the materials used

7. Apartment buildings
Apartment house, also known as apartment block or block of flats, is a structure that
has many living units, the majority of which are designated for domestic use but may
include stores and other non-residential elements. The most typical way to live in an
apartment house has been to rent it. Multiple ownership of units on a single site, on the
other hand, has grown considerably more prevalent.
Individual cooking facilities, the number of sleeping rooms, and the less transient
character of the tenants distinguish apartments from multi-unit residential occupancies
that are not considered homes, such as hotels and boarding homes.
Estimated Building Costs
This largely depends on the size and complexity of the structure to be constructed, but it
would cost from N100 million and above.

8. Semi detached houses
A single family duplex dwelling that shares one common wall with the next house is
known as a semi-detached house. This form of building is distinguished from detached
houses, which have no shared walls, and terraced houses, which have a shared wall on
both sides. Semi-detached houses are frequently built in pairs, with each house's plan
mirroring the other's.
Estimated Building Costs
Because construction expenses are often lower than those of a fully detached home,
you typically receive more space for your money (or the same thing for less). Some of
the semi-detached homes being built in Nigeria today are highly appealing to the eye
thanks to modern architecture.

9. “Face-me-i-face-you”
is a phrase used in Nigeria to describe a type of residential real estate in which a group
of one or two-room flats have their entrances facing each other along a pathway that
leads to the apartment building's main entrance. This type of apartment buildings are a
common architectural form in Nigeria's major urban areas; the apartments are typically
rented to low-income inhabitants due to their affordability.
The toilet(s), bathroom(s), and kitchen area are frequently shared among tenants in a
yard in this form of design.
Estimated Building Costs
This depends on the total number of rooms to be constructed and the size of the
building. But the estimated building costs range from N2 million to N20 million

10. Penthouses
An apartment or unit on the highest floor of an apartment building, condominium, hotel,
or tower is known as a penthouse. Penthouses are distinguished from ordinary
residences by their luxurious amenities. The name 'penthouse' originally referred to a
separate smaller 'house' built on the top of an apartment building, and it still does
sometimes. Luxury features such as high-end equipment, finest materials fittings,
elegant flooring system, and more differentiate penthouses.
A private entrance or elevator, as well as higher/vaulted ceilings, may be found in
apartments not found in the remainder of the building. Penthouse apartments are
defined by having two or more stories in buildings that are predominantly made up of
single level units. A terrace, fireplace, extra floor area, oversized windows, numerous
master suites, den/office space, hot tubs, and other amenities may be included.
Estimated Building Costs
Penthouses are not constructed separately from the rest of the building, they are simply
at the top. Therefore, there is no special building cost for it, just costs of either buying
them or renting them.
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