Stephenmoka4:
Hi symbuul

You said 3k for grab, what do I do to get it. It will be very important now, thanks.

symbuul:


I had wanted to do small 3k bet funding giveaway. Only four people indicated interest. 3 dropped bet details, 1 pm'd me and solicited for funds. Sent him 2k, and funded bet details of the remaining 3people. Sorry Stephen.

DeProffessor:
_*RealVestGuide_*
(*Volume 1)

: *Budgeting For Your Property*

I choose To Talk About This Due To Popular Demands And Ofcourse The Need To Provide Proper Guidance To Investors Out There.
More So Considering Budgeting, As A Very Important Process In Real Estate Investment.

As A Matter Of Fact, For AnyOne Intending To Buy Or Lease A Property, Be It A Land Or Home, The First Necessary Point Of Call Is To Draw Up A Budget For Your Planned Investment.
This Is Applicable In All Situations Of The Real Estate Industry.

This Is Why When A Client Approach Me As A Consultant And Make Known Their Intentions To Acquire A Property(Both Buying Or Leasing), My First Question To Them Is Always; What Is Your Budget Sir?
With A Clear Budget In Place, It Becomes Very Easy For The Consultant To Search The Market For Available Products Within The Client’s Budget.

Budgeting Is Therefore An Essential Process In Real Estate Investment As It Also Enables The Client Have A Clear Target.

What Is Budget?

Budget In Real Estate Refers To The Minimum And Maximum Amount Of Money A Client Is Willing To Offer, Pay Or Exchange, In Other To Enjoy The Comfort Of A Property For A Certain Period Of Time.

However, In Preparing Your Budget, There Is One Very Important, Constant Fact Every Buyer Must Note That Affects The Prices Of Properties Globally, Be It Land Or House. That Very Constant Factor Is The “Location Of Property”.

Yes! Location Of Property Generally Affects And Determine The Cost Of Properties Which Every Client Must Consider During Budgeting.

For Example, In Abuja, Nigeria, The Cost Of Land Or House In Asokoro And Maitama Area Will Certainly Be Higher To A Plot Of Land Situated At Kubwa, A Fast Developing Residential Area Of Same City.

In Lagos, Property Cost More In Prime Areas Like Ikoyi, Ikeja, Victoria Island Etc When Compaired To Developing Areas Like Epe, Ikorodu Or Ibeju-Lekki Area Of Lagos. Same Thing Applies To Port Harcourt Where The Cost Of Land In Places Like Peter Odilli Road, Old And New GRA, etc Is Much Higher To Developing Areas Like Eneka, Igwuruta,Rukpokwu Or Eleme Area etc.

So, A Client Needs To Understand This Very Variable And Decide Your Choice Location That Will Tally[/color][color=#000000] With Your Budget In-Line With Prevailing Cost.

Therefore ,In Making This Choice, You Must Be Decisive On What You Intend To Do Or Achieve With The Land Or House.
I. e Are You Buying The Land To Start Building Immediately, Or Are You Buying To Build Later? Say In The Next 3,4 To 5Years? Or Are You Buying To Re-Sell In The Future When The Land Must Have Appreciated In Value?

Each Of The Above Options Or Reasons Will Require Different Location And Budgeting Approach As It Will Enable You Choose The Right Location As Well As Ensure A Smooth Process For Your Budgeting.

Now, If You Are To Start Building Immediately, It Then Means You Will Need To Buy A Land In Developed Or Semi-Developed Location. This Ofcourse Is For Obvious Reason Which Pre-Include Security. You Surely Don’t Want To Go Build And Live In The Middle Of The Bush Without Any Viable Neighborhood.

This However Imply That You Need To Align Your Budget To The Obtainable Cost Of Property In That Area. Same thing Will Apply If You Tend To Start Building Later Or Re-Sell In The Future Vis-Avis Investment, You Can Then Buy In A Developing Or Under Developed Area With Prospects. The Cost Of Acquisition Here Is Usually Lower In Sharp Contrast To The Former.

This Is Simply One Of The Major Reason Why Prices Of Properties Differ In The Property Market.

So, The Next Time, You Want To Buy Or Lease A Property, Be Sure To Have A Clear Decision On What You Want To Achieve Or Do With The Land. With That In Place, You Are Sure To Have A Seemless Budgeting Process For Your Property.

I Do Hope That I Made Much Sense To You . Its Always A Pleasure To Provide You The Needed Guide , So You Don’t Make Mistakes In Your Real Estate Investment Journey Because It Is About The Future.


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Best Regards.

Bright S. Peterside.
Real Estate Consultant/PR,Brand Communication Expert.