Everyone knows that land is valuable but do you know vacant land can become an income-producing asset? Land without a structure built on it can be an additional source of income for you. Here are four business ideas to implement on your vacant land and cash out.
Sell the land
Of course, this is the most obvious choice. You can decide to hold on to land for as long as you want and resell in the future at a profit. After taking into the value appreciation rate. The value appreciation of land varies depending on the location of the land. A parcel of land located at Lekki would likely appreciate faster than land at a subregion in Ekiti state. Before selling the land, you can increase the value of the land by clearing and levelling the land to ease construction. This will drastically push up the price of the land.
Investing in solar energy is big right now and if you have vacant land lying dormant, even better. Installing solar panels on vacant land or renting out the land out to a company that wants to install solar panels on your land, can be a lucrative option for you. Inevitably, the location of your land will determine how feasible this option is for you. The ultimate goal is to work with energy providers or companies that would purchase the solar energy you produce. Converting your vacant land to a solar farm is worth considering in Nigeria.
Billboards are cash cows especially in Lagos, Abuja and Port Harcourt. If your land is located near a high traffic area or a commercial zone, you should consider putting up a billboard on your property and rent it out. Businesses will always pay good money for exposure. That’s more money in your pocket every month.
Ongoing Developments in Ibeju Lekki
Again, the location of the vacant land determines how feasible this is. Lands located around prime commercial or recreational zones can earn you money off of parking fees alone. Several landowners in Victoria Island take advantage of their location and cash out on vehicle owners looking to park their vehicles during work and after-work hours. Another advantage is the low maintenance and start-up capital this venture requires. Simply clear and level your land to get started.
Although this business idea might not look enticing to everyone, however, it could be a source of good money. Junkyard business is an easy way to make money. Unwanted items or items not immediately needed will be stored on your land. For instance, if you have land around a spare part dealer market, your land can be used to store damaged cars to be used for scrap.
Another popular option, especially for large parcels of land, is to rent out the space for events like wedding receptions, concerts, conferences, etc. Wedding reception venues are always in demand and are hot right now… where my owambe members at? To increase the worth of the space, you can rent tents, tables, and chairs, or offer complimentary interior design for a full package. This venture might require hands-on management but the financial reward is worth it.
Well if you don’t own land in the city and can’t venture in any of the above ventures, this could be a decent option for you. Lease out your vacant land to farmers to use your land for farming. Depending on the agreement reached, farmers typically take care of all the upkeep and work and all you need to contribute is the land. Lease periods vary depending on the nature of the crop grown. You can sign a multi-year agreement and secure an additional source of income for years to come.
This option is the jackpot! If your land has valuable minerals in it, you will be paid a lot of money to rent the land for mining of the mineral resource. Oil companies often pay huge bucks and give royalties to landowners willing to lease their land to be drilled. Who knows, you might have gold stuck beneath your land.
Which of these business ideas sounds good to you?
If you haven’t got any landed properties, here’s your chance to invest. (insert a link to the sales landing page)
Here’s a once in a lifetime opportunity to invest in Ibeju-Lekki. LekkiVale Estate located along the Lekki-Epe expressway opposite the proposed new International Airport with a C of O land title. This is our fastest-selling estate with an ROI of up to 150% in the next three to four years.
If you forget the hassle of moving boxes; moving into a new home can be quite exciting; new neighbours, new home… a fresh start. Every new neighbourhood has something unique to offer and as a newcomer, you need to explore every single expectation of your new community. Before choosing where to buy a new home, here are some essential questions to ask when evaluating if it’s a good fit for you and your family:
Imagine moving into an estate that seems serene and quiet only to find there’s a club being built two blocks away from your house. It’s worth finding out the master plan of the estate you’re moving in. Ask to see the master design if possible, to help you choose a suitable location for your house or apartment. Also, checking out whether there are any planned developments fills you with a positive expectancy for the future especially if the estate is still being constructed. Find out if there’s provision for:
Central powered generators
Treated running water
Playground for kids or a clubhouse and recreation centres etc.
Are you going to be waking up to the sound of your neighbour’s generator or is to the beeping sound of cars driving along the road a few inches from your window? Noise pollution is something worth considering if you want to have a peaceful new home. Unless noise pollution wouldn’t bother you or your family, find out how sane the estate is during the day and at night time. Find out their policies against loud parties that extend late into the night.
Living in a beautiful new home is wonderful except, no one would like to live in the middle of nowhere. Consider the accessibility to road network systems around the neighbourhood. Suppose there’s an emergency, are there any hospitals or clinics around? What about access to public transport or perhaps ATM machines? You also need to consider the traffic situation coming from and entering into your neighbourhood. Moving around Lagos can be tedious. You want to ensure that you’re not stuck in traffic just by driving out of your estate. These are things to be mindful of.
Emergency – Call 112
One of the biggest factors to consider when moving into a new estate is to take into considerations the schools in the locality especially if you have children or intend on having children. When looking out for good schools around in the area, check out the record. Picking a school for your kids has an impact on how they behave and assimilate knowledge. Your children’s education is a priority.
Ideally, most estates have recreational parks or clubhouses where people can hang out, and kids can have fun. Green areas and clubhouses are ideal for hosting events like mini-parties or a place where kids can have fun and play. Find out if there’s a plan for such a recreational park and if there is, visit and check if it’s functional. You do not want to pay for services and then, be unable to use them because they’re poorly maintained or inaccessible.
It’s 7 am and you discover you’ve run out of bread or water; can you quickly find a shop to buy around? Living close to a grocery store is very important. It’s easy to underestimate its importance, but it makes life easy. Living near a shop is great for emergency supplies, imagine you get an impromptu visit from family or friends and you desperately need some drinks, all you would need is go down a few blocks to buy the items you need.
This is one of the most important factors to consider before moving into an estate. Find out what the security is like; do they allow random people to move in and out of the estate? do they have a patrol team on standby? is there a police station around?
Ask around to find out if they’ve been any major or minor incidence in the past. If they’ve been an incident, investigate further to ascertain if it was a one-off or a regular occurrence. You can never be too careful when it comes to ensuring safety for you and your family especially in Nigeria.
VULNERABILITY TO FLOODING:
If you live in Lagos or other coastal regions in Nigeria, there’s a high probability of experiencing flooding during the wet season. Although your agent might show you a perfect house during the dry season, do your investigations to find out if there’s flooding during the wet season. You don’t want to use a canoe to leave your house after it rains and live in fear of water damaging your belongings. Another alternative would be to explore insurance costs to ensure that you can afford adequate coverage suppose there’s an unexpected disaster.
Above all else, a home should be comfortable. As your life progress, your needs transform. These needs affect everything you do including the type of house you need and where to live. Some of the questions to keep in mind in determining if a neighbourhood fits your lifestyle are; are your neighbours mostly young professionals? Do they have families with children?
Determine what you need; are you looking at a community with older residents or a bubbling young community? This should give you better perceptive in ensuring you don’t feel out of place in your new community.
Since you’re here…
Let’s Get You The Perfect New Home
We understand the importance of choosing the right new home and so, we’ve got just the perfect home that you’ll absolutely love. LekkiVale Estate is located in the heart of the Ibeju Lekki Peninsula; encapsulates all it takes to give you a new home. We’ve aligned all the factors necessary to give you an absolutely comfortable and luxurious lifestyle.
Every aspect of LekkiVale Estate radiates a lifestyle of sheer relaxation and soft elegance, well deserving for you.
From the elegantly designed buildings to our unmatched amenities offering:
• A central connection of treated running water
• 24 hours generated power supply
• Well paved roads and covered drainage systems
• Top notch 24 hours security and access control
• Sewage treatment
• Green areas and Kids Park
• Recreation centre
For more detailed information about getting the best real-estate deals in Lagos call us today at 09081234564, 09095757575.
Someone once told me to forget about building wealth if I wasn’t willing to take the risk of investing in long-term ventures. They are typically two types of investments; long-term investments and short-term investments. Each option comes pros and cons. Typically, the economy you find yourself in determines the sort of business you should invest in.
Nigeria is an emerging, middle-income, mixed economy with rapidly expanding manufacturing, financial, service, communications, technology, entertainment and real-estate sectors. Although fairly stable, the Nigerian economy is immensely influenced by its political stability and transference of power. Each political tenor typically comes with new policies and in most cases, hinder the furtherance of the past tenor’s developments. In a country that works like this, investing in real estate is one of the safest investment options that hardly succumbs to the frequent political alterations.
Real estate is the quickest way to build wealth (not overnight) in a lifetime. It is largely a numbers game. Investing in real-estate is not reserved for the financially buoyant, it’s an open playing field that guarantees good financial returns and you can be a part of it.
Read what Pastor Paul Adeferasin, Head Pastor of the House On The Rock Church has to say about investing in real estate in Nigeria:
10 years ago, we bought House On The Rock, an area just under 10 acres for ₦25 million. This same area without the brick and mortar is currently valued at ₦3 billion. In other words, we’ve created an asset base with 10 years differential of ₦3 billion with just ₦25 million. With the fully finished and furnished building, the value spirals to at least ₦10 billion naira today. What about 50 years from now?
(Text has been revised and paraphrased)
How Can You Benefit From This?
The value of the property appreciates over time. There are various ways to invest in real estate, however, this article focuses on land acquisition. The simple rule of thumb is, buy low, sell/lease high, save profits and re-invest in acquiring more properties. This is how to exponentially grow your real-estate portfolio particularly if you’re just starting out.
Go For Land
Acquiring land gives you the opportunity to start on a small scale, with minimal maintenance. Land can lay fallow for years and still appreciate in value compared to a property that needs constant maintenance and a truckload of cash. However, with acquiring lands, you need to tap into the gift of foresight; see where the future is going and get there before the crowd does.
Today’s most lucrative estates where once seen as far-off and unreachable. For instance 10 years ago, the Lekki region was extensively swampy and seemed to have low prospects of growth. At this time, the lands were inexpensive and seemed unprofitable. 10 years down the line and a plot of land (if available) in this area is worth millions.
What Makes Nigeria Such A Fabulous Location?
Rapid Growth Rate
As reported by Worldometers, Nigeria’s current population is 197,363,050 based on the latest United Nations estimates. With a population density of 215 per Km2 (557 people per mi2.) 51.0 % of the population lives in urban areas (99,967,871 people in 2018)
The median age in Nigeria is 17.9 years. (An actively growing population) The total land area is 910,770 Km2 (351,650 sq. miles); an amount that’s relatively fixed.
With the above statistics, this is a good place to quote Mark Twain.
How to spot a great location for land acquisition?
The smartest decision with buying land is the location. Choosing the right location to buy land is EVERYTHING. In choosing where to buy land, consider the following the following factors:
The economic growth potential of the region
The level of immigration
Nature of land; is it prone to flooding?
The biggest mistakes investors make is buying overpriced land in an economically declining area and yet expecting a high ROI in a few years. While the value of land appreciates, there are areas that appreciate faster than others. Some might take 10 years, while others take 5 years.
Find out where the industries going. Consider the history of the area. Is the area prone to social, political or religious riots? Where are multinationals pining their tents?
Keep in mind: where companies go, young people go; where young people go, smaller businesses follow and then, the demand for housing needs shoot up.
Just because you have gotten the perfect location doesn’t mean you should pay the first amount they ask for. Always compare the price of the land with the neighbourhood. Strive to get the best deal possible, baba ask questions. Most importantly, ask for the land title.
LekkiVale Estate is located at the heart of Ibeju-Lekki. Ibeju-Lekki is generating all the buzz in the economic development sphere in Lagos state. This region is expected to be the prime commercial hub of West Africa by 2025.
LekkiVale Estate presents the perfect opportunity to invest in this booming region. Lekkivale Estate is 100% dry land with a Certificate of Occupancy. Call us today at 09081234564, 09095757575 for more information or Send us an email at firstname.lastname@example.org.
Real estate development revolves around prime locations. Almost every aspect of land for sale can be changed except where’s it’s located. Location determines the price of a property.
For instance, you can have identical buildings, one located at Egbeda and the other located at Banana Island. Both houses built using the same materials and design will command different prices. The house located at Banana Island would cost as much as four times more than the house located at Egbeda.
Factors to consider in determining the right location to buy property
As an investor, you should always consider the present and the future when making investment decisions. For instance, an area that appears to be of enormous financial value now, might not be the case in the next five years or ten years. Just like a disregarded area now might explode in five years. However, in both cases, there are several forecasting determinants like the following:
Would there be access to basic amenities on the land for sale?
The concept of sustainable development leans toward the availability of constant electricity, water supply, security, and well-paved roads. Look out for areas that have access to water, electricity supply and security. All these are the basis for economic growth without which, sustainable growth may be limited. Long-term real-estate developments are directly associated with and dependent on the availability of these variables.
The value of land for sale is correlated with the social class of people living within the area. Going back to our comparison of Egbeda and Banana Island: Egbeda is predominantly made up of low to middle-class income earners while Banana Island is inhabited by predominantly high-income earners. This social and economic disparity influences the price of both properties. In urban areas, town planning decisions largely depend on ‘who’s’ moving into or living in the area. As minimal as it sounds, it is extremely important to consider who your ‘neighbour’ is when buying land.
Is it close to major roads?
Access to the land via paved road is crucial. When it comes to buying land, convenience is everything. Areas located close to a major highway invariably attract sustainable development and thus high ROI on real-estate investments.
What is the official title on the land?
This is perhaps the most critical factor on this list. Even if a plot of land possesses all the above factors, if the land for sale doesn’t have a valid C of O or Governor’s consent, it’s best to avoid the land for sale. There are different land titles and each land title influences the price and ownership status of a property.
For instance, two plots of land located in the same region will command two different prices if they have different land titles. Suppose the first plot of land title is excision in process and the second plot has a C of O. The second plot would likely cost twice and in some cases three times the price of the first land. The reason is, a C of O land title guarantees ownership and secures real-estate investments.
Every once in a while, a fantastic opportunity for real estate investing like the Ibeju-Lekki area presents itself. Ibeju-Lekki has attracted massive industrial investments like the Dangote Refinery, The Deep Seaport, The New International Airport, The Fourth Mainland Bridge, etc. However, amidst all the buzz and rush to this region, there are severe cases of fraudulent land sales. If you’re not careful, you might lose your money by buying land you should avoid.
Firstly, most of the land available in this region do not have proper land titles. The Ibeju-Lekki area has been marked by the government as a growing urban zone and thus, most of the region legally belongs to the government. The common land title is the excision in progress title, which gives you a 50/50 chance of actually OWNING the land. While, A Certificate of Occupancy (C of O) protects you from all these uncertainties, and you’re assured of 100% ownership.
LekkiVale Estate offers you the BEST deal available in Ibeju-Lekki today, offering you the following:
LekkiVale Estate has a valid C of O
Flexible Payment Plans for up to 12 months.
Strategically located by the Lekki-Epe expressway, opposite the proposed New Airport.
LekkiVale Estate offers you FREE bespoke architectural plans worth up to N250,000 to choose from.
Real Estate in Nigeria is a very lucrative business and here are the top ten reasons that make LekkiVale Estate stand out from other Estates:
Residential real-estate developments are increasingly popular in Lagos as the demand for affluent living soars. But, not all estates in Lagos meet the expectations of its residents. LekkiVale Estate is a low-density residential development, offering you total opulence at the heart of Ibeju-Lekki. LekkiVale Estate is primarily developed to provide housing units to the growing demand for comfortable and affordable homes at the Lekki Peninsula. This estate has taken into consideration all that’s needed to transform a home into a rus in urbe.
1. Dry Land
LekkiVale Estate is spread across 6 hectares of 100% dry land. It has good soil properties that drain rapidly after a heavy downpour. Lagos’ climate is primarily wet season than dry season which, triggers flooding in certain parts of the city.
Estates located along coastlines run the risks of being flooded during the wet season. Living in an area prone to flooding can damage your properties, wreck your cars and cause inaccessibility. All these can lead to downtime and increase expenses in repairing damaged properties, causing residents to lose valuable time and money.
A Landlord’s House
2. Leveled Land
LekkiVale Estate has eliminated the need for a sand filling. Sand filling drastically increases the cost of constructing a building. For instance, 20 tons of filling sand costs N 30, 000 (prices vary) add this cost to the cost of land and building cost. A sand filling is required in most areas in Lagos to build a solid foundation. In a bid to cut down cost and give you more value for money, LekkiVale is strategically located on the level ground requiring no sand filling.
3. Ample Parking Space
The average middle-class Lagosian family has two cars. Unfortunately, most estates are tightly built making room for one car or joint parking space with other residents. The implication is, where to park becomes a problem or if there’s sufficient parking space for two cars, then there’s apparently no space left for anything else.
LekkiVale Estate is designed with your family in mind. We’ve taken into consideration the need for a yard and ample parking space for up to three cars (depending on the plot size). Our goal is to ensure, you finally get to host a barbecue night and invite all your friends and family over for some quality bonding time.
4. Valid Land Titles
If you’ve ever bought property in Lagos, you’d know that unless you have all the necessary land documents verified and in your hands, you’re ownership status is not confirmed. We’ve encountered countless clients who were lured to purchase property with inconclusive land documents like the ‘excision in process’ land title.
LekkiVale Estate has a Global C of O. We encourage all our clients to verify the land documents before making the decision to buy. We’ll give you a copy of the C of O document and guide you on how to verify its authenticity at the Land Bureau Office at Alausa, Ikeja. We’re putting your security first to ensure you make the best deal possible.
5. Well Planned Estate roads and drainage system
LekkiVale Estate is tactfully planned and laid out to ensure ample space between buildings, well-paved roads and street lightings at every corner. LekkiVale’s drainage system is designed to carry heavy downpour and securely enclosed to prevent blockages.
6. Exquisitely Finished homes
LekkiVale Estate showcases modern architecture at its peak on this side of the west. We’re offering you five bespoke architectural designs to choose a preferred option. These architectural designs worth N200,000 will be given to you for free. Consider our architectural designs a welcome gift; welcoming you into a community that believes in family.
7. 24 hours Security
LekkiVale Estate implements a 24/7 top-notch security policy for the total protection of your entire family. We’ve put in place provision for 24 hours security check on entry and within the estate at strategic corners. We’re also working with local security agents to ensure prompt response in case of an emergency.
8. Stay Healthy Longer
LekkiVale Estate is designed to promote community lifestyle and encourage healthy living. Our recreational centre offers several programs to benefit every resident. Typically, people who exercise regularly have lower blood pressure, delayed onset of diabetes, lower heart disease rates, overall increased longevity and are generally happier people. Our goal is a build an active, happy community. Equally, our numerous green areas serve to freshen up the air while creating a beautiful view.
Our recreation centre contains the following:
Park and play area for kids
A fully equipped gym
There is something for everyone. What we know for sure is; families that play together, stay together. On the income side, properties with a recreational centre attract higher ROI over time. Fun charms everyone!
9. Central power generator and water supply
LekkiVale Estate plans to power the entire estate from a central power source. This way, you’re assured of 24 hours power and water supply. You no longer have to worry about the ‘Nigerian’ epileptic power supply.
10. The Ibeju-Lekki factor
Ibeju-Lekki is generating all the buzz in the economic development sphere in Lagos state. This region is expected to be the prime commercial hub of West Africa by 2025. What better way to be part of this evolving economic hub than to live at the heart of it all?
LekkiVale Estate gives you the best of both worlds; commercial excellence and nature’s glory. It’s like taking a break from a sky-high office, to dining by the beach on a workday and then, resting your head in a château.