Most people consider the process of buying land as an expensive and complicated investment and would rather rent an apartment, this is quite disheartening because a land investment is capable of producing serious cash flow and it’s one of the best investments on earth.
Buying a piece of land is not as expensive as people think, those who are a little short on budget can still fulfill their dreams of owning a piece of land. For instance, in Lagos today, you can get a piece of land for as low as 800k.
Here are easy steps to getting a cheap piece of Land.
1. Desire to Buy a Piece of Land
Without knowledge on the benefits of land investment, you won’t see the need to invest. One benefit of investing is that the value of your land increases overtime. If you don’t have the desire, you will never buy one.
Buying land should be one of your long-term or short-term goals. Build your interest by making research and reading up articles on how to buy properties. Locate a good piece of land in the area of your choice. There are also many online platforms where you can access available lands for sale, check out these websites to find the land that fits your budget. You don’t need money to do this.
2. Save Monthly
The time and conditions to buy a land may not be right for you now, but that doesn’t mean you can’t save up to buy one. This may sound cliche but saving part of your income monthly will yield a lot of money at the end of the year. When you know that you have to save, you’ll be more responsible and organized in your spending.
Give yourself a time frame and create a budget plan that’ll enable you save. Saving as low as 20,000 NGN off an income of 80,000 NGN monthly will make 200,000 NGN in ten months, thus, buying land will be more convenient.
3. Pay in Installments
If you are short on budget it is easier to pay in calculated parts. These days lands are sold with a flexible payment plan. For instance, if the property costs 800,000 NGN, you can pay 400,000 at first. There are also mortgage schemes that allow you to get properties and pay gradually. So if you’d rather do this, it’s not a bad idea. However, it is very important to be consistent with the payment.
4. Patronize Reliable Agents
There are trusted real estate companies that help simplify the process of buying lands, they have information on lands for sale at various prices with the right documents. To avoid a wasteful investment, ensure you make use of a reputable agency. You can also check out properties for sale free of charge on property listing sites to have a picture of your dream land.