It’s common knowledge that real estate is the long-lasting kind of investment and the safest there is, as well. And for this reason, most people want to own real estate in Nigeria. With good reason too, all things considered.
However, real estate is admittedly capital intensive; and this is what poses the biggest barrier to owning property in the country. One of the best assets to own is unarguably real estate, and many of the world’s most renowned millionaires have at one point, or another used real estate to generate passive income and simultaneously secure their wealth.
Oftentimes a lot of people are discouraged from investing in real estate because of the perception that one needs to be wealthy to invest in real estate or that real estate is expensive to own.
While real estate has a higher entry price compared to stocks and bonds, there are still several easy ways to begin your journey as a real estate investor without breaking the bank.
Here are 3 ways you can invest in real estate on a budget
Invest in co-ownership schemes
Co-ownership is an investment scheme that standard real estate development companies usually offer. The scheme enables two or more investors to contribute funds to acquire a single property for rent or resale. A facility manager is assigned to manage the property and share the rental returns amongst the co-owners of the property. This investment strategy can be done with friends, colleagues, and family.
Learn more about our co-ownership offers here.
Get a mortgage plan
The good old mortgage is a great option to consider when you have a low budget. In Nigeria, most federal institutions, and banks provide mortgage support for staff members. If you work in the private sector, you can encourage your human resources personnel to include mortgage support in the employee welfare packages or join a cooperative society that offers mortgage loans to members.
Request for a flexible payment plan
Many notable real estate developers offer flexible payment plans on lands and rental properties to remove the pressure of one-off payments. When you find a suitable property, you can negotiate for a personalized, flexible payment plan and pay for the property in bits. Some real estate companies offer up to 24 months of payment plans.
Explore our affordable property offers with flexible payment plans
Real estate investing is a great way to take up your finances and set yourself up for financial independence. If you are just getting started, speak with an experienced property advisor who can set you on the right track and save you the cost of falling for scams or making critical investment mistakes. Get in touch with us today.
