10 Advantages of Buying Off-Plan Property in Nigeria by Dennis Isong

Have you ever thought about buying a house or apartment that hasn’t been built yet? This is called buying “off-plan” property. In Nigeria, more and more people are choosing this option when they want to own a home. Let’s explore 10 big advantages of buying off-plan property in Nigeria.

1. Lower Prices

One of the best things about buying off-plan is that it’s usually cheaper than buying a finished home. When you buy early in the building process, developers often offer lower prices to attract buyers. This is because they need money to start or continue building. By buying off-plan, you can get a great deal on a property that might cost much more once it’s finished.

For example, let’s say a developer is planning to build a block of apartments in Lagos. They might offer the first few buyers a 20% discount on the final price. This means you could save millions of Naira just by buying early!

2. More Time to Save Money

When you buy off-plan, you don’t have to pay for everything at once. Usually, you pay a deposit first, and then you make more payments as the building goes up. This gives you more time to save money or arrange a mortgage. It’s like having a savings plan that ends with you owning a home!

Let’s say the apartment you want costs 50 million Naira. You might pay a 10% deposit (5 million Naira) when you agree to buy it. Then, you could have 18 months or more to save up or arrange the rest of the money before the apartment is ready.

3. Customization Options

Another great thing about buying off-plan is that you often get to choose how your home looks inside. You might be able to pick the colors of the walls, the type of flooring, or even the layout of the rooms. This means your new home can be just the way you like it, without you having to do any extra work.

Imagine being able to choose between having a big kitchen or an extra bedroom. Or picking the perfect tiles for your bathroom. When you buy off-plan, you often get these choices!

4. Newer Designs and Technology

Off-plan properties are usually more modern than older homes. Developers use the latest building techniques and include new technologies. This could mean better insulation to keep your home cool, solar panels to save on electricity, or smart home features that make life easier.

For instance, your new off-plan apartment might come with high-speed internet already installed, or a modern security system to keep you safe.

5. Higher Potential for Increase in Value

Property values in Nigeria often go up over time, especially in big cities like Lagos, Abuja, and Port Harcourt. When you buy off-plan, you’re locking in today’s price for a property that will be finished in the future. By the time your home is ready, it might already be worth more than what you paid for it!

Let’s say you buy an off-plan apartment in Abuja for 40 million Naira. Two years later, when it’s finished, similar apartments in the area might be selling for 50 million Naira. You’ve already gained 10 million Naira in value!

6. Better Locations

Developers often choose great locations for their new projects. They look for areas that are growing or improving, places close to important roads, schools, or shopping areas. By buying off-plan, you might get a chance to own property in an area that will become very popular in the future.

For example, a developer might start a project in an area of Lagos that’s getting a new train station. By the time your home is ready, you could be living in a well-connected, sought-after neighborhood.

7. Guaranteed New Home

When you buy off-plan, you know you’re getting a brand new home. Everything will be fresh and unused. This means you probably won’t have to spend money on repairs or renovations for a long time. New homes also often come with warranties, so if anything does go wrong, it can be fixed for free.

Imagine moving into a home where you’re the first person to use the kitchen, or sleep in the bedroom. Everything is clean, new, and working perfectly!

8. Easier Budgeting

Buying off-plan can make it easier to plan your finances. You know exactly how much you need to pay and when. This can help you avoid surprises and make sure you have enough money saved at the right times.

For instance, if you know you need to pay 20% when the foundation is laid, 30% when the walls are up, and the rest when it’s finished, you can plan your savings or loan payments to match these stages.

9. Potential for Better Deals

Developers want to sell their properties quickly, especially at the start of a project. This means they might offer special deals to early buyers. You could get extras included in the price, like air conditioning units, a parking space, or even furniture.

Some developers might even offer a guarantee to buy back the property at a higher price if you decide you don’t want it when it’s finished. This can give you peace of mind about your investment.

10. Excitement and Anticipation

Last but not least, buying off-plan can be really exciting! You get to watch your future home being built from the ground up. Each visit to the site shows more progress. It’s like watching a dream come true in front of your eyes.

This excitement can make the waiting time feel special, rather than frustrating. You have time to plan how you’ll decorate, or to save up for furniture. By the time you move in, you’ll already feel a strong connection to your new home.

Dennis Isong is a TOP REALTOR IN LAGOS.He Helps Nigerians in Diaspora to Own Property In Lagos Nigeria STRESS-FREE. For Questions WhatsApp/Call 2348164741041

ASR AFRICA FLAGS OFF CONSTRUCTION OF A N280 MILLION INTEGRATED PUBLISHING HOUSE FOR BABCOCK UNIVERSITY, ILISHAN-REMO, OGUN STATE, NIGERIA

Sahara Weekly Reports That The Abdul Samad Rabiu Africa Initiative (ASR Africa), the philanthropic initiative of the Chairman of BUA Group, Abdul Samad Rabiu (CFR, CON), has flagged off the construction of a N280 million Abdul Samad Rabiu Integrated Publishing House for Babcock University, Ilishan-Remo, Ogun State. This project will enhance the capacity of the University from basic press status to a modern, integrated publishing house to encompass publishing, print production, and other related diversified services. The one-storey building facility will serve as a laboratory and studio for training students of communications, media studies, and allied disciplines as well as other disciplines.

At the groundbreaking event, the Vice Chancellor of the University, Prof. Ademola S. Tayo, expressed satisfaction at the nomination by ASR Africa, under its Tertiary Education Grant Scheme. He added that the choice of the project was a response to the vision to take the Mass Communications Department of the University to a whole new level. According to him, the university’s vision is to produce young men and women capable of critical thinking, and problem-solvers capable of proffering innovative solutions to problems of everyday life, be it social, political, and cultural.

In his response, Dr. Ubon Udoh, the Managing Director of ASR Africa, expressed his delight at the University’s choice of establishing an Integrated Publishing House. He added that when information is appropriately applied, human society is empowered to liberate itself from limitations and attain its full potential. Dr Udoh reiterated the commitment of the Chairman of ASR Africa, Abdul Samad Rabiu to supporting quality education within the tertiary education system in Nigeria and urged the institution to focus on the sustainability of this noble project. He also reiterated the importance of cooperation and collaboration between the university and the contractor for the timely delivery of the publishing house.

About ASR Africa

ASR Africa is the brainchild of African Industrialist, Philanthropist, and Chairman of BUA Group, Abdul Samad Rabiu, the Abdul Samad Rabiu Africa Initiative (ASR Africa) was established in 2021 to provide sustainable, impact-based, homegrown solutions to developmental issues affecting Health, Education and Social Development within Africa.

President Bola Ahmed Tinubu GCFR, PLEASE, ACT FAST!

by Comrade Oladimeji Odeyemi.

It’s no longer story that the preparation for the EndSars carnage went on for a while before its actual implementation.

But lack of proactive approach on the part of some people in the government of the day became a recipe for the actualisation of the dastardly act. History is about to be repeated, but I do not expect this to happen under the watch of President Bola Tinubu.

I do not say that people should not be allowed to protest if they have any reason to do so. But given the fact that the country does not have the capacity to separate genuine protesters from hoodlums, unnecessary protest should be curtailed.

Some people may be surprised that I call it unnecessary protest.

Yes, it’s unnecessary because this government has never displayed any act of rigidity since it took the mantle of leadership. It responds even to mere comments on social media expressly within. It is clear to every discerning and positive citizen that this government has become one of the most engaging one since 1999.

It has engaged with the organised labour on the minimum wage and it’s being passed to law. It has won autonomy for local government councils. It is on course for disbursements of students’ loans. It has given tax waiver for certain commodities and goods. You only protest against a government that is either passive, incorrigible or rigid. How can a government that is barely a year in office be protested against even when it has surpassed many of the past ones within one year? That cannot be called a protest but a mischief.

President Bola Tinubu should not be deceived by those who harp on funny fundamental human rights to cause mayhem. America is the country they use as a reference point. But American government does not take untoward attitude from anyone. If you want some you will be given some. There is no way for avoidable discomfort.

Kenyans are licking their wounds at the moment. We must not allow our own case to get to that point. I believe that many of those who are planning for the protest are children who do not know the implications of such a protest. Those who are old among them are those who would gladly set their universities’ libraries on fire in the name of students’ demonstration just because water tap didn’t run at the expected time.

Please, begin to show us that we have someone in charge of our affairs. Be more presidential Your Excellency. We know that it’s those who lost elections in 2023 and those they have recruited among those who think you have not compensated them among your conditional supporters that are behind the protest.

Please, refuse to be blackmailed. No matter what you do, there is but one mind in those people and it is turned against you. Please do everything humanly possible for PH REFINERY to work. Support Dangote Refinery to get crude oil locally.

We must not be importing fuel forever. Therefore, you should beware of the sinister motive of the August 1 planned protest, Your Excellency. May you continue to succeed and may all patriotic Nigerians continue to progress in all spheres of life in the mighty name of God.

Comrade Oladimeji Odeyemi is an entrepreneur, opinion leader and a security analyst.