10 Reasons Why Purchasing Land in Nigeria Is a Smart Investment
Land investment and acquisition are not well-understood concepts. The majority of people have no idea how land acquisition works. Even fewer individuals realize that buying land is a wise strategic step for diversifying your portfolio. You certainly don’t want to be one of them.
There are many people who have never considered purchasing a property. You might be wondering, “Is buying land a good investment?” ”. People aren’t always eager to go outside the box when it comes to their money, which is understandable. I’m not suggesting that buying land is the be-all and end-all of investing, but it is something you should consider putting in your portfolio.
At the very least, you owe it to yourself to learn about the many sorts of real estate investing. The majority of people are aware of the more opulent and glamorous real estate strategies. House flipping and renovation shows have taken over the airwaves. Robert Kiyosaki made investing in townhomes and other types of real estate look simple.
No one is talking about why land is a great investment. That presents you with an opportunity. These 12 reasons will convince you that land is a fantastic investment, and will make you want to put your money in the dirt – literally.
1. Land is a Finite Resource
There isn’t any more land being created! I know Elon Musk is planning to colonise Mars, but the country lines in the twenty-first century are quite well defined. In the United States, we have a limited amount of land. Buildings can be replaced and demolished, but land is a valuable and scarce resource that is only available in limited amounts.
Land is the well-behaved, obedient child of the investment world. It is impossible to take or destroy land. You are not required to put up any more effort. Nothing needs to be protected, maintained, or renovated. There isn’t anything to ‘do.’ Land will always be valuable in its natural state!
2. Land Gives You Peace of Mind
Buying a property that can be ‘done’ to one day is an important part of investing in land (e.g. suitable for building or housing). This will ensure that you don’t have any maintenance to “do” right now, but that your land will be valuable in the future.
3. Land is a Tangible Resource
Land, unlike shares or stocks, cannot evaporate or vanish. Even if the world decided tomorrow that money is merely a useless piece of paper with no value, the land will still be valuable. Whatever the global economic situation is, it will be something solid and physical that is yours. Ownership does not alter with changes in the currency and monetary values.
4. Land has Low Competition
There is little competition in this real estate niche. The majority of people (especially those with a lot of money) are only interested in the flashy and glamorous components of real estate investing, such as condo buildings, projects, house flipping, and multi-unit properties. It’s not their fault; practically everyone is concentrating on that location. Across the country, these approaches sell-out conferences and consume TV networks. However, sometimes you have to be where others aren’t in order to win.
5. Land is Inexpensive to Own
Land is a relatively affordable asset to hold over time. There are no mortgage or utility expenses to pay. There are no additional fees associated with the greatest internet bundle. There is no need to replace the roof. Property insurance is not necessary, and even if you do opt to buy it, it is inexpensive. Property taxes are low — I’ve seen lots with annual property taxes as low as $3. THERE ARE THREE DOLLARS! That’s the equivalent of a cup of coffee. Your item is quietly gaining in value while costing you nearly nothing.
6. Land is Great to Hold Long-Term
Land investing is not for the faint of heart or for those hoping to make a fast buck by flipping a property. It’s for someone who doesn’t have any imminent plans to develop their land. It’s for the patient, astute investor who’s willing to hold for the long haul or pass it down as a family heirloom. It’s for investors between the ages of 10 and 15, who want to diversify their money. Land is a good long-term investment since it allows you to benefit from rising values. Especially if you purchase in an area that is expected to increase.
7. Land Increases in Value
Land is less expensive to purchase than established real estate simply because it is undeveloped (evident, right?). It hasn’t been improved or added to in any way that makes it more value. For less than $1,000, you may buy a valuable and high-quality piece of land. If you do your homework and make sure the land is in a good location for development, it could be very appealing to future developers. You could sell that property for up to ten times what you paid for it! That’s a quick profit!
8. Land is Easy to Purchase
When buying land, you don’t have to take out a costly bank loan or a mortgage with exorbitantly high interest rates. It’s possible that you won’t need a loan at all. In most cases, if it’s a private transaction, a credit check isn’t even required! Many private sellers, including myself and my company, Compass Land USA, provide reasonable financing plans that make buying land on any budget possible. And you nearly always have the option of paying cash for land. Land is rather simple to acquire, and you can buy it whenever and anywhere you choose in the United States.
9. There’s Lots of Land Available
Many unoccupied landowners are interested in selling. People frequently purchase a property that they had grand intentions for but never got around to, or a property that they inherited and didn’t really want to begin with. Perhaps they’ve recently been through a traumatic event and are wanting to simplify their lives. Maybe they’re just looking for a quick buck.
Maybe the owner resides out of state and has no emotional attachment to the property. When you combine low niche rivalry with high availability, you’ve discovered a well-kept investing secret. You get to choose from the best of the crop!
10. Land is Easy to Buy
Purchasing land is simple. The entire process, like most things these days, can normally be completed remotely – entirely online. This is a really appealing feature! You don’t have to go 2,000 miles if you live in Kano and want to invest in Lagos real estate. You simply make use of a credible real estates company like Earth and Sands Transactional and go from there. You can do everything from the comfort of your couch using your phone! It’s a straightforward procedure that allows you to electronically sign documents and transmit money. So simple! We make purchasing land easy and secure at Earth and Sands. You’ll have one less thing to worry about in an already simple process.
11. Land Gives You Freedom
Freedom! You can be creative with land and shape it into whatever you want. You can keep it for a lifetime and pass it down as an heirloom. You can buy land, accumulate some money, and keep it for ten years before constructing your ideal home! You can also build your own golf course, paintball arena, or dirt bike track; the possibilities are unlimited!