Best Locations For Real Estate Investment In Abuja
If there is any business with a high profitability margin, then it’s investing in real estate. But that is if it’s done the right way. In this article, we will be looking at the best locations for real estate investment in Abuja so make sure you read till the end if you are interested in this business.
8 Important Things To Consider Before Investing In Real Estate in Abuja
Type of Property
It’s important to first of all be certain that the type of property you want to invest in is a good investment option and if the property is within the budget you are willing to spend on it.
Budget
What is the budget that is comfortable for you to invest in real estate? Knowing this will help you determine the property type that you can afford and the locations where it is easy to find such properties.
When sorting out your budget, you might want to factor in some other charges like bank charges, agency fee, and renovation costs.
Location
It helps to consider whether you want to invest in an expensive location like a more central area or in places that are easily more affordable.
Purpose of Investment
What do you want to do with the property you are investing in? Do you want to turn it into offices or a commercial place? Knowing the purpose you are investing in real estate in Abuja will help you decide what location is best or what property size is ideal for you.
Property Value
There is no point in investing in a property that will cost you a fortune to renovate before you can rent it out. That is why you want to do thorough research about the market value of the property.
Expected Return of Investment
Knowing the return of investment you expect to get from a property will help you determine the kind of property you want to invest in to get the expected ROI. You also want to know about the appreciation of the property you want to invest in to determine if it’s worth the risk.
Payment Plans
When you get your budget sorted out, you want to put plans in place for payment. Are you going to be taking a bank loan? Will you be doing a one-time payment or is it going to be in installments? You might want to consider paying in installments as it would offer you the flexibility to raise the money you need instead of paying high interest to the bank.
Real Estate Laws
Investing in real estate in Abuja is a huge thing. So you don’t want to go into it without getting familiar with the laws and also the taxes you will be paying. You might want to consider hiring a lawyer for this to avoid putting yourself in any uncomfortable situations.
Now, let’s look at the best locations for real estate investment in Abuja.
Best Locations For Real Estate Investment In Abuja
Abuja is experiencing a surge in population and the demand for properties is on the rise. The real estate scene in Abuja will only wax stronger as time goes on so it is actually a wise choice to invest now.
There are two categories to consider when thinkig about the best locations for real sstare investment in Abuja.
You are either planning to invest in already developed and expensive central areas or you probably want to take advantage of the locations in Abuja that are still in the process of development. These areas have a high real estate potential because a lot of people surely want to rent properties that aren’t so expensive. So it would be a win for you to tap into these areas.
The best locations for real estate investment in Abuja if your preference is for expensive and central areas :
- Gwarinpa
- Garki
- Jabi
- Asokoro
- Maitama
The best locations for real estate investment in abuja if you are targeting developing areas:
- Lugbe
- Mpape
- Jahi
- Lokogoma
- Mabushi
