Is It Better For Investors To Buy Real Estate Properties Off-Plan?

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This topic has gained interest of property investors in the Real Estate market both in Nigeria and in diaspora in recent times. Buying off-plan property means purchasing property – typically an apartment – in advance of its completion. Off-plan property is typically sold prior to construction beginning at a significant discount, often with a small deposit requirement. Subscribers or off takers usually get involved in the project before the property or structure is completed and payment is done in installments.

Pre-constructions are usually marketed to off-takers and early adopters (subscribers) so that they can secure a much better financial value than the later subscribers. There are some benefits attached to buying properties off- plan, some of such benefits are:

  1. You get to enjoy a Cheaper Bargain. This is because you are buying before the Project is built so you will enjoy a good discount in Pricing. An outright payment for such properties do not only minimize the possibility of delay in project delivery, it also gives room for a significant discount in pricing.
  2. You get to enjoy a flexible payment options because with Off- plan projects, you can pay in Installments, usually within 6 months to 24 months. You can pay a little deposit to show commitment while you pay the rest monthly over a Period of time agreed by you and the Developer.
  3. You can make some changes to your own Unit. Because the Property has not been built, you can tell the developer exactly how you want yours. You can alter the designs and space apportioned to each room in the house. This changes are usually on the internal Areas because, for an estate, there is a uniform External Design for all the units in most cases.

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However, we advise you do a background check on the property developer you intend to invest with and ensure you are satisfy with their performance. Or seek the service of a good Real Estate Consultant, before you invest you hard earned money.

For more information on Off-plan Properties on Lagos Mainland and Island with deposit Payments of N2m and balance spread over 12 months to 24 months, call/whatsapp: 08138092003, 08155346105. Also drop your questions and suggestions on the form below.

 

 

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