Buying a duplex in Lagos through an off-plan sounds complicated until The secret of how top real estate investors leverage off-plan properties to double their profit and reduce the stress of having to pay fully on the first deposit.
Off-plan property sales unlike a property that has been constructed, involve you committing to a purchase before the property itself is built completely. This simply means that buyers have to be prepared to go ahead with the deal before seeing the final result, thereby basing all decisions on initial plans and brochures with 3D designs which should show how the completed development will look in the future.
Off-plan properties either as an investment for resale or as a first-time homeowner will save you millions.
Here are my most important insights on the advantages of buying off-plan real estate property in Lekki Lagos.
They buy with a minimal deposit
Top real estate investors focus on making good profits from investing early into off-plan luxury properties before anyone else hears about the sale, this is done during the Property pre-sales.
This means that they have a first-hand opportunity to choose the best units, buying them at a discounted rate (over 30% discounts). It gives you an opportunity to buy the property with a minimal deposit, It gives you the time to plan and save. top off plan real estate investors use this means to get peace of mind, taking the stress off during a building project.
If market prices are going up – as they do most of the time – buying your home before it’s completed means that by the time you move in, it’ll be worth more than what you paid for it.
Ability to resell the property at a profit
Off-plan purchase gives investors the ability to resell the property at a profit. this means that your investment has already appreciated before completion (you could be making over 30% in profit) That’s some sweet juicy juice you might say right?
If market prices are going up, as they do most of the time – buying your home before it’s completed means that by the time you move in, it’ll be worth more than what you paid, this is how most top real estate investors build big portfolios.
You choose the apartment interior customization of choice
One of the advantages of buying into off-plan projects is the ability to choose the final touches of the interior designs. When buying off-the-plan properties, you get to pick your apartment first (first come first serve). This only means you get the chance to pick the best apartments.
If you wait until construction has finished, you might find out that all the best apartments are gone and only the leftovers will be available and in most cases, these are the ones nobody wants.
Also, the property is brand new and you can have a say on how the interior will be designed. Here the buyers can also have a pick in color arrangements and are often given detailed interiors like the quality of tiles, and toiletries that will suit their budget.
Flexibility from the ability to stage your payments
Payments can be split over several weeks or months, reducing the burden on your bank account. The investment can be spread over the build timeline. This enables you to budget more effectively.
In the end, the vast majority of the payment is not due until completion, which presents a great chance for investors to afford themselves a little more time, in order to save up the full unit costs, or at least limit the duration of higher loan repayments.
Guaranteed new building apartment
Off-plan property purchase means you’ll eventually be owning a brand-new home, that is built with best-in-class materials, coupled with modern fixtures, with good updated architectural provisions such might include smart home capabilities or energy-efficient appliances.
For Top real estate investors, buying property as an investment like off-plan guarantees brand new homes that will also attract tenants who are often willing to pay a premium to live in new spaces which translates to more rental income.
The purchase only means that you will be getting everything brand new, and you are most likely not to incur any further maintenance costs in the immediate future, this therefore can help you in saving costs in the long run.
Here at Dozek Group, we don’t just offer you off-plan properties, We also guarantee good returns on them after completion as a result of the location of your new luxury investment. You might want to consider other things when buying or selling an off-plan property in Lagos