High returns and capital growth are two essential qualities to seek when investing in real estate, and both may be readily attained when buying off-plan. Benefits of buying Off plan properties developments are currently seeing some of their highest sales levels, and this trend is only growing due to the opportunity to negotiate fantastic discounts either before or during the building process.
When compared to pre-built buy to let property, purchasing off-the-plan property has a somewhat different purchase procedure; nonetheless, once familiarized with the overall process and the added benefits, investors frequently find off-the-plan property to be an exceptionally viable investment option.
Buying off-plan has several advantages, and the following are a few of the most significant ones:
Table of Contents
- Purchase costs are considerably below average.
- Strong Capital Growth Is Possible.
- Possibility Of Reselling At A Profit Before Finishing
- Staged Payments And Small Deposits
- How to Profit from Off-Plan Property Investments
- Benefits Of Buying Off Plan Properties
- Examine the benefits of buying off plan properties in Lagos, Nigeria, using Yorkville Apartment as a case study.
- GET A UNIT IN YORKVILLE APARTMENT BY CALLING OUR SALES AGENT
Purchase costs are considerably below average.
The possibility to secure the acquisition at a lower price than market value is one of the key benefits of buying off plan properties. This occurs frequently because of developers wishing to sell a particular number of units before marketing the development or demonstrating a certain level of sales. As an added incentive, some developers sometimes provide further discounts to investors who buy many properties at once. Due to our capacity to sell a large number of homes swiftly and effectively, Switchlanes Investment Limited negotiates directly with developers to achieve the best discounts for their clients on off-the-plan property.
Strong Capital Growth Is Possible.
A property buyer that benefits of buying off plan properties profit mostly from rising home prices. If a property is bought in 2019 but won’t be finished until 2022, when it is eventually constructed, the buyer will have seen their property’s worth increase each year. This can significantly increase the value of a house, particularly if it was initially purchased at a discount.
Possibility Of Reselling At A Profit Before Finishing
Investors can decide to put their home up for sale and sell at a greater market value because it is very likely that your property will increase in value before completion. Despite the fact that this can be a viable approach for investors seeking to turn a profit quickly, renting out the property would result in considerably greater capital growth benefits as well as monthly rental revenue.
Staged Payments And Small Deposits
Some off-plan offers come with the bonus of tiered payments, depending on the developer and the home. These payments allow investors to buy property without making a sizable down payment and can help stretch out the expense of the purchase.
Call us right now to learn more about buying off-plan properties” Because of our solid connections with developers, banks, and receivers, we are able to find the lowest prices on reduced homes in Lagos, Nigeria. Off-plan developments from Switchlanes Investment Limited are offered in a variety of great locations and offer immediate equity.
How to Profit from Off-Plan Property Investments
Buy and Hold: A straightforward strategy that you benefit from buying off plan properties.
With this strategy, the buyer keeps their investment for a longer period of time and considers the discount they receive as the cherry on top.
For people who are new to real estate investing, only this approach is advised. It is less complicated, riskier, and requires less consideration of variables. With a tiny down payment, you merely lock in the discounted price of a house you want to buy.
Say you ultimately receive a 20% off-plan discount of a property you want to buy. You might think of this as money that you can use to invest in other things. Perhaps used as a deposit for a different housing development or for land banking outside of the city.
Price reductions can reach 50% or more by the time building is complete in a Real Estate market where prices are constantly rising, like Lagos.
Recommended Reading: How To Consider Real Estate Investments In Nigeria AND How To Get Started
Benefits Of Buying Off Plan Properties
Purchasing off-plan gives investors and homebuyers the opportunity to purchase a property at a lower price than if they wait for the building of their preferred house to begin or when it is eventually completed. Additionally, because the selection may be limited after building commences or concludes, purchasing off-plan may be the only chance to obtain a property with a certain location or set of characteristics. Additional benefits of buying off plan properties include:
1. You can negotiate a purchase price that is less than market value.
2. Significant capital growth is possible.
3. It makes it possible to profitably resell the property.
4. It offers you the chance to purchase the property with a small down payment.
5. It allows time for saving and planning.
6. Provides investors with peace of mind, reducing their tension during a construction project.
7. Growth in equity.
8. The property is new and unspoiled.
Examine the benefits of buying off plan properties in Lagos, Nigeria, using Yorkville Apartment as a case study.
An estate called Yorkville Apartments has apartments that are made to your exact specifications as well as exquisitely constructed luxury houses that add comfort, luxury, and appreciation over time.
Yorkville Apartment is strategically located at Lekki Scheme 2, by Abraham Adesanya Ajah Lagos. The Yorkville Apartment will include elegantly finished and partially finished:
Apartment with Bedrooms and Penthouse
Two (2) Bedrooms Apartment
Two (2) Bedrooms Penthouse
UNITS AVAILABLE DOWN BELOW
1. ₦35,000,000.00 – 2 Bedroom Apartment
2. ₦2,000,000.00 – 2 Bedroom Penthouse
In conclusion, purchasing off-the-plan homes is a wise investment if you choose locations where homes value quickly and can generate a significant return on your investment.
Just give our sales representative a call at Switchlanes Investment Limited to speak with our sales representative about the ideal property for you.