Have you ever been in a situation where its categorically clear that you missed the opportunity to purchase a particular land, that yielded 100% increase from the initial purchase within a very short period of time?
Nowadays people share their experiences on how they regretted missing out of purchasing properties in some certain locations, most especially when such location was at its pre-development stage and prices of properties as at that time were relatively low and affordable.
There was a time when people said VI, Ikoyi and Lekki was too far and yet people keep migrating towards these areas. Today, the story has changed for those who choose not to migrate into these locations just because they said it was too far.
These locations have now become a hub for both residential and commercial real estate, social and other economic activities to the regret of many who refused to tap into them.
Lagos state is the heart beat of Nigeria’s economy and if you look at the rapid manner of development of this growing city, you will agree with me that nowhere is too far most especially when it’s comes to real estate investment.
Ajah downward to Ibeju Lekki (often referred to as the new Lagos) is another growing city and a major potential goldmine for eagle-eyed investors that see potential at the slightest opportunity.
Most times people complain how far Ibeju Lekki is but the question here is —
‘it’s far from where’?
From your house or workplace?
The truth is before you go into any real estate purchase, you should have a goal, and this is the 1st Commandment of real estate investing. When your goals are pre-defined, its helps you to know where to put your money and also help you recognized and take advantage of opportunities that suit your investment objectives.
Now, if you have an 8am -5pm job won’t be changing anytime soon and your goal of purchasing a land is for you to build and move in with your family then it’s important you consider location and its proximity to your place of work.
However, if the above isn’t the case then I don’t see why distance should be a barrier to your land purchase or real estate investment. When objective of buying a land is for investment purpose, then distance should not form part of your decision making criteria. Instead what you should be more concern of is the value appreciation you stand to enjoy when development happen and the future prospects of the location you choose to invest in.
As an investor with an eagle-eyed, you should be positioned to see goldmine where others sees bushes, forests, swamps and Ocean. There was a story of a popular industrialist and socialite who bought a large expanse of land and built a massive estate just after Chevron Head Office in Lekki, Lagos when the entire neighborhood was a thick forest. Most people thought he was crazy and foolish back then for taking that action. However, today the story has changed, the value of the area has appreciated over 1000% and thus this eagle-eyed investors is smiling to the bank.
Another eagle-eyed investor is the developer of the red brick homes Amen Estate located along the eleko beach road in Ibeju Lekki. This particular investor had positioned himself in this area long time before the Lekki Free trade, the Dangote refinery and other development that are springing up there.
I can imagine the price this smart investor bought land in that area as at about 10 years ago and the level of appreciation he would be enjoying now. Amen Estate phase one houses about 400 families at the moment. Celebrities like Funke Akindele, Comedian Akpororo droves all the way from VGC down to Amen Estate Phase 1 to secure a home just because of the class of building and architectural masterpiece this estate is offering.
Amen Estate Phase 2 is currently selling adjacent the Phase 1 for N15M per 600sqm. I can bet you in the next 5 years plots in this estate and environs would be selling from N30M above.
If you’ve read the article 3 factors that influence property value appreciation in nigeria, you will see some of the factors that contribute to appreciation of land and properties that you can always make reference to in your next real estate investment decision makings.
The gospel truth about Ibeju Lekki is that it has a great potential for huge value appreciation and a highly rewarding place to invest for investors with the eyes of an eagle.
Final Thought on Why Distance Shouldn’t be a Barrier to Your Real Estate Investment in Ibeju Lekki.
As a real estate investor, be like the eagle and take your chance on available deals that comes your way. Many fantastic deals will not ordinarily appear attractive to every day individual, but as an eagle-eyed investor always sees a gold mine where others see mud, forest and swamps.
Always view and see beyond your sight when thinking of buying for investment purposes in real estate