3rd Edition of Choice Option Magazine August 2014 | Page 5
Property
6 Tips
to Buying
Luxury
Property
By Ese James
When it comes to purchasing
luxury properties, there are a
few easy steps that should be
taken to avoid disappointment.
After all, you want to make a
good return on your property
if you’re spending a considerable sum in the first place even
if you’re going to live in property for a long time.
and want to attract affluent couples with children, think about schools,
parking and local amenities as well as things to do in the day; recreational centre , hospitals, farmers markets, butchers and spas etc. Crime
statistics for this target group is also something to consider. what’s vital is
Here's are some tips to bear in mind when buying your luxury home. to get a strong understanding of the area and what it will provide for your
tenants.
1. Research the neighborhood
We’ve all got our standards, and if you’re buying in an up market
4. Plans for the area
you’re bound to be more discerning than the average buyer. This is Researching the area is your surveyor’s job; but it’s always good to get a
why it’s important to do your homework when it comes to the area, heads up. Are there new development projects in the pipeline? If there are
you can always make changes to a property but can never alter the positive transformational projects set to get off the ground this could be
neighborhood. In Nigeria, there are at least a dozen areas where
great for rental returns and property prices. It’s also important to look at
the average property price is over millions of Naira, which means
what condition other houses are in your street. If they are run down, deyou’ve a lot of different areas to choose from. From Ikoyi,Victoria
spite being mansions, or are badly maintained; this could still bring down
Island, Banana Island and Lekki etc. There are high demands of
the value of your property.
5. Off-market properties
Some of the most exclusive properties in Lagos are actually traded offmarket. It’s been estimated that millions of naira are traded privately. This
is why it can be worth building great contacts in your neighborhood of
choice through local agents, in order to get the inside story as to brilliant
off-market deals.
6. H \