The real estate market in Nigeria is rapidly evolving and most developers are beginning to adopt the offtake system of purchasing a property. An offtake agreement is an agreement that a buyer makes with a developer. The developer agrees to sell the property at an agreed price while construction is in progress. An offtake agreement usually occurs before or during the construction of the property.
Buying a property at offtake has tremendous benefits such as the following:
For the Buyer
An offtake agreement allows you to buy at a comparatively lower cost, which appreciates in value once construction is completed. Offtake prices are typically lower than the cost of a fully constructed property.
Buying at offtake allows you to save more and as a plus, you benefit from instant value appreciation of up to 10% once the building has been completely constructed.
An offtake agreement functions as a hedge against future price fluctuations. As an offtake buyer, you’re insulated from fluctuations in the money market, for instance, weakening of the naira against the dollar.
Buying at an offtake allows you the freedom of expression. You’re given room to voice your expectations, tastes and what you want in terms of designs required in your building. This saves you the extra cost of renovating an already constructed building to suit your taste.
The developer also benefits from the offtake agreement in the following ways:
For the Developer
An off-taker purchase allows the developer to recoup a large chunk of their investment and prevents long-vacant periods after construction. It’s common to see buildings stay vacant for up to three years after construction, in which they’d have to factor in depreciation. The system also allowed for a reduction of void before the building is constructed. Offtake agreement facilitates the easy transition from construction to occupancy and increased value of the property.
The offtake agreement gives the project the extra nudge to guarantee the completion of the project in the future.
Factors to consider when buying a house and how it can affect your child’s development
Steps to buying a house can be very daunting and discouraging. It takes lots of mental strength and patience to buy the right home. Several studies show that the home a child is raised in can affect their cognitive and socio-emotional development. Factors like pollutants, noise, crowding, chaos, housing instability, school and the quality of neighbourhood can play a key role in a child’s mental and emotional development. For instance, numerous studies reveal that chronic noise exposure early in childhood can interfere with reading acquisition. Another study linked overcrowdedly or poorly maintained apartments to aggression, anxiety and depression during the early stages of development. A disruptive or unsuitable housing environment can induce stress at an early stage, triggering a host of developmental problems like slow or poor language development, deficits in reading, impaired cognitive development and a host of other issues.
Of course, how a child turns up doesn’t depend solely on the home you buy. It is a complex mix of factors mainly genes and environmental influences. However, how the family is structured and the factors to consider when buying a home can have a profound effect on your child’s well-being. Beginning from infancy and running through adolescence.
What does this mean to parents or intending parents?
Before choosing where to live or which home to buy, consider the long-term effects your neighbourhood will have on your children. The neighbourhood here includes the environment at your home, interaction with other neighbours and the overall ecosystem of the community you choose to live in. For instance, although there are many exceptions, kids that were raised in the barracks back-in-the-day tend to have certain character traits. The Barracks were usually crowded with loud noises, invasion of privacy and in some cases a lot of adult exposure. This sort of environment affected a child’s understanding of the world and how things work.
Here are some of the ways the environment can affect your child’s health and development:
The quality of the home a child is raised in can either improve or deteriorate the health of a child. In situations where the family’s at the brink of homelessness or eviction, neglect of the child is common. Also, consider the costs of housing in relation to other factors like food or health care. You need to make sure you don’t go broke from buying a house and then be unable to pay for other basic necessities.
Where your house is located should not be underestimated. When it comes to buying a home, don’t simply inspect the house, examine the locality as well. What is the area known for? What kind of neighbours would you have?
You definitely wouldn’t want to live close to neighbours who party into the night or close to a car park that’s always rowdy.
Tips for buying the perfect home for your family
Buying a home to raise a family is a bit complex than just buying a regular house as an individual. An individual may settle for almost anything but kids require a lot more attention and a stable environment. Consider having a decent home as a vaccine that gives your child resilience and immunity against future threats. These tips include the following:
Location is everything. You could find an incredible house at a perfect price but it could still be unsuitable if it’s located in an unstable neighbourhood. You may think you can keep the stuff you don’t like outside your walls but they usually find a way to creep up the walls.
The location of the home you’re buying should be top priority. Consider the following questions: Does the area have safety issues? What’s the distance to school? What are the available health facilities? Is there access to shops? Are there provisions for extracurricular activities like a playground for kids? What’s the demography of your neighbours?
Pay a little less attention to trivia things and focus more on getting the right features that would help you and your family feel safe and properly nurtured. You will feel more confident as a parent and homeowner.
Choose the right Amenities
Evaluate the functionality of the home. Consider the size of your family in answering questions like; is the kitchen and dining room space sufficient? Is the laundry room spacious enough to fit a washing machine? What about the number and placement of sockets and doorknobs especially if you have an infant?
Is the closet large enough? Can you conveniently place a cabin for extra storage? If you value outdoor activities, is there a yard? How easy is it to clean the house?
A house with glass walls may not be very practical or suitable for a family with young kids.
Safety and Size
The size of your family determines how much room you need. Determining the right size for a family typically depends on preference. Certain building designs may actually be dangerous for your infant child who would crawl wondrously around the house. Consider the layout, fixtures and furniture in the house. Find out if built-in closets or cupboards can trap your toddlers inside or are the stairs safe?
Do countertops, tables and shelves have sharp, dangerous corners? Are the wiring and sockets out of reach or at least childproof? Is there an open pool nearby?
Safety concerns also extend beyond your house. Ask around for information about the crime rate of the area. How close is the house from a major highway? Is traffic moderated? Are the streets safe for kids to cross? Do drivers slow down or do they ignore road signs?
Are there any factories or other sources of pollution that may affect your children’s health?
The answers to these questions will determine to a large extent the well-being of your children and your peace of mind.
At Sevic PDC, we believe that homes should be comfortable, safe, convenient and affordable. We’re developing LekkiVale Estate with your family in mind, putting in place amenities suitable for you and the whole family. LekkiVale Estate captures the essence of nature, safety and accommodates the proper live-play environment for your family.
Your dream house could be one call away. Call us today on 09081234564, 09095757575 and we’ll walk you through the entire process of buying a home at the most affordable rates in Lagos.
Inspired by the warmth of home and the love of lavish living, SEVIC PDC brings you a paradigm of urban living; aligning the finest elements into developing LekkiVale Estate in Ibeju Lekki. LekkiVale Estate succinctly captures the heart of luxurious, scenic living in one location – Lekki Free Trade Zone, Dangote Refinery Lekki, La Campagne Tropicana Beach Resort, Deep Seaport and many more. From our prime homes optimized to deliver exceptional comfort, to our secure lush lands. LekkiVale is an aspiration of ALL home patrons across the country.
LekkiVale creatively blends nature and modern architecture. Here, stylish apartments overlook lush greeneries, skillfully demarcated by well-paved roads and magnificent street lights. Our homes are fully constructed and finished.
WHY CHOOSE LekkiVale Estate?
LekkiVale Estate is located in one of Lagos’ fastest growing regions at Ibeju Lekki. Lekki is fast transforming into West Africa’s most successful and prosperous residential zone. This economically thriving zone is home to some of the finest schools, restaurants, hospitals and road network systems in Lagos. Owning a home at LekkiVale Estate places you at the centre of it all.
Education and Workforce
The Lekki region is home to some of the best primary and secondary schools in Lagos like the Greensprings School, Corona Schools Lekki, Pan-Atlantic University, and Lagos Business School (LBS) amongst others.
The Lekki region is home to some of the most highly qualified workforce is Lagos, making it a great location for networking.
Nearly 50% of Lekki – Ibeju Lekki’s residents are employed in high-value knowledge jobs
Ibeju Lekki is recognized as a fantastic and serene place to live and raise a family.
LekkiVale Estate features
Finance and Business
LekkiVale Estate is strategically located to provide unprecedented connectivity to Sangotedo, Lakowe, Ikoyi, Victoria Island, Lagos Island, Lekki and the rest of Island.
The Ibeju Lekki area is just a few kilometres from the bustling commercial streets of Lekki and Victoria Island; both of which are Lagos’ commercial centres.
Ibeju Lekki is filled with branches of various banks, with ATM spots easily accessible.
Easy and fast connectivity to the rapidly growing Ibeju-Lekki region.
LekkiVale Estate is strategically located on the Lekki corridor, bordered on the West by Lekki Free Trade Zone, Dangote Refinery Lekki, La Campagne Tropicana Beach Resort, Lakowe Gulf course, Funtopia Park and the Atlantic Ocean to the South. LekkiVale Estate gives you all it takes to experience a vacation on a regular day.
LekkiVale Estate benefits from excellent road connection to the Lekki-Epe Expressway way linking to Lekki, Ikoyi, Victoria Island to the west and Epe to the east. LekkiVale Estate is essentially a convergence of two rapidly growing economic strongholds of Lagos; Lekki and Ibeju-lekki.
…a brilliant new way to invest in real estate
Nestling between the thriving Lekki V.I region and the emerging Ibeju-Lekki area is a 10km2 site in the heart of LekkiVale Estate currently undergoing an incredible metamorphosis.
LekkiVale Estate offers you a once in a lifetime investment opportunity with a possible ROI of 20% in just two years.
Location:LekkiVale Estate is located in rapidly developing region with existing infrastructure like the gatehouse, roads, paved roads, working drainages, power, clean water, 24-hour security patrols, and the serene beautiful golf course.
LekkiVale Estate is also a few kilometres from the emerging Ibeju-Lekki region, which is expected to generate over than 70% of Lagos wealth by 2025. Easy accessibility to Victoria Island, Ikoyi and the rest of Lekki.
Occupancy Rate: LekkiVale Estate is located within Ibeju Lekki with an estimated occupancy rate of 60%, half of which is being constructed. The region has a high occupancy rate with most of its houses and lands selling out within a period of 12 months; coupled with the annual population influx rate of 3.2% in Lagos and the projected 800,000 expected to move to Ibeju-Lekki.
Security: LekkiVale Estate offers a solid and safe investment option with a valid C of O. Authentic and hassle-free property documents.
Flexible payment plans: 10% initial payment and balance spread over 12 months.
LekkiVale Estate Features
There’s never been a more perfect time to invest in real estate.
Comparison between investing in LekkiVale Estate and Money Market Instruments.
*This table below shows the proposed ROI on LekkiVale Estate in comparison to Treasury bills and Time Deposits.
Yield on outright purchase
Yield on instalment purchase
Yield on Treasury Bills
Yield on Time Deposits
Time Deposits interest rates are set at the Banking sector average of between 10-12% for 365 days
Treasury Bills interest rates are set at CBN average at 13.5% for 365 days
ROI on LekkiVale Estate increases yearly in response to value appreciation and an increase in demand for houses in the region.
Immerse yourself in true moments.
Here, neighbours become friends, moments turn into memories and weekends feel like holidays.
Every aspect of LekkiVale Estate radiates a lifestyle of sheer relaxation and soft elegance, well deserving for you and your family.
From our modern buildings to our unmatched amenities offering:
A central connection of treated running water
24 hours centrally generated power supply
Well paved roads and covered drainages
Top notch 24 hours security and access control
Green areas and Kids Park
…revel in peace and tranquillity.
Drive from the uproars of city life into a veneer of nature. Here, rich horticulture flow within the large spaces between buildings.
Getting to and from LekkiVale Estate couldn’t be more convenient given its strategic location. LekkiVale Estate is a 10 minutes’ drive from the Lekki-Epe Expressway, which connects to the rest of Lekki, Ikoyi, V.I and Lagos Island environs. It offers quick access to public transportation and only 30 minutes from the proposed Lekki airport.
With over 200 plots available at LekkiVale Estate. The plot sizes here range from 450m2 to 600m2. Don’t miss out of this unique opportunity to build your dream home or get the ultimate real estate investment. LekkiVale Estate has a valid C of O, making this property truly remarkable.
A VIBRANT, SIZZLING NEIGHBOURHOOD
In an area brimming with life and colour, your neighbourhood is a reflection of the fountain of youth, a thriving economy and the fresh familiarity of nature. Choose an apartment from a variety of arrangements and be a part of a neighbourhood that offers something for everyone.
LekkiVale Estate showcases ultra-modern, power saving architectural structures, designed to deliver world-class housing standards. At Sevic PDC, we offer you SIX free architectural designs to choose one from. This is to eliminate the lengthy and stressful process of conceptualizing, designing and building your dream home. Our unique designs save your money, spares you time and take you one step closer to the development of your home.
Your hopes of LIVING IN A MASTERPIECE – begins with ONE DECISION.
Sports / Recreation Area
In addition to our beautifully structured community, LekkiVale Estate strikes the perfect balance between Work, Life and Play. Our multi-sporting centre is equipped with a gymnasium, pool, tennis court and basketball court. Our goal is to give you the opportunity to explore, get physically active with friends and family.
At LekkiVale Estate, we make your weekends feel like a vacation. Our generously placed gardens and green areas give you the soothing aroma of nature. You get to invite friends over for a game, get the family around for a barbecue or simply stroll down the serene walkways. Here, nature is a step away.
Well Planned Layout
LekkiVale Estate is carefully structured and designed to deliver a holistic living experience. We have positioned jogging trails, strategic green zones and a commercial centre at the heart of the estate for easy access and shopping. It promises to meet your every need, placing street lights along the pavements and daily maintenance of all common area.
ACCESS CONTROL & TOP NOTCH SECURITY
We offer a 24/7 state-of-the-art security system, you can truly have peace of mind and the best in secure living. Our security system includes: