Author name: jimohlawal1

Living * Real Estate Benefits of Owning a Home VS Renting By Realtypros Admin Real estate investments have existed for so many years but not everyone has tapped into this. There are so many financial potentials for investing in real estate. Imagine the benefits of investing in real estate, do you think you would be able to retire comfortably when the time comes? Real estate investing when done correctly, is one of the most profitable investments with a potential for success. Below are 6 benefits of real estate investing: Serves as a hedge against inflation: Often, investors are faced with the fear of inflation. Stocks, for instance, require more money to purchase with an increase in inflation with real estate investing, this is not as investing in real estate hedges you against inflation. As the price level goes up, so does the rental income you get from your investment values and property. This means that real estate investors are protected against both the immediate and long-term effects of inflation. Real estate investment Provide Cash Flow for Retirement: Real estate investing, when done properly, is a stable way to increase wealth over time, it can provide cash flow for retirement. Simply put, it can serve as a supplement in your retirement days with income from rental properties.  Real Estate Appreciation: The value of real estate is said to increase well over time. The benefits of real estate investments involve the appreciation of capital assets. What this means is that if you invest in real estate now, 40 years from now, the value of your property would amount to so much. With a good investment, you can turn a profit when it’s time to sell. Rents also tend to rise over time, which can lead to higher cash flow. Passive Income: With real estate investing you can literally make money while you sleep. By investing in multiple properties that generate income to cover expenses, you have the luxury to enjoy, instead of spending so much time on a 9-5 job.  Real Estate is a Stable Investment: Unlike the stock market real estate does not fluctuate or crash. It would not suddenly experience a price change; it provides steady cash flow. This makes it a safe and stable investment. Real estate properties won’t immediately change in price based on capital contributions or because of political volatility. This makes real estate a safe and stable investment. In many cases, real estate investments offer attractive tax benefits to the owners too. When it comes to owning a home or renting, there is always so much which is debated about. Both sides have valid reasons to which is better, so it can get a bit confusing. Renting is an agreement where a payment is made to the owner of the house (landlord) to reside for an agreed period. Renting is often seen as a waste of money but that’s not so. You would always need a place to live. Renting offers flexibility and a predictable monthly expense. The downside of renting a home, however, is sometimes you are faced with unpredictable rent increases each time your lease is up for renewal. Therefore, buying a home is always advisable.

Living * Real Estate Essential Land documents you must know before buying a land in Nigeria By Realtypros Admin Owing to the growing population, the purchase of land in Nigeria has been in high demand. People aspire to own land in Nigeria, expatriates aspire to take a share of the lands to serve a commercial or residential purpose. With the growing demand for landed property, it’s a pity that only about 12% of land purchasers know and comprehend what land documents truly mean and the reason which they serve. When purchasing a land, it is imperative that one must understand the documents which governs land transactions. Having title documents that are important and recognized by different government rules and laws on such landed properties is one of the most significant methods for making a claim for land ownership as well as in any landed properties. There are 6 Basic title documents relevant to landed property ownership in Nigeria which are: Certificate of occupancy: A certificate of occupancy is a document issued by a local government agency or building department certifying a building’s compliance with applicable building codes and other laws and indicating it to be in a condition suitable for occupancy. A certificate of occupancy is evidence that the building complies substantially with the plans and specifications that have been submitted to, and approved by, the local authority.   Deed of assignment/conveyance: This is a very important document. It traces the history of how the property or land has reached the present owner till date. It is important so it must be demanded and given to the buyer of the land after the closing of the transaction of a land or property. It contains some significant information for a real estate transaction. For one, it spells out the date when the ownership of the property transfers from one owner to the other. The deed also gives a specific description of the property that is included in the transfer of ownership.   Deed of lease: It is also known as Governor’s Consent. This land document is obtained whenever you buy land with C of O. It’s the land document that lets the Governor and the public know that the land in question has changed hands. The Deed of Lease was used to transfer property especially government properties in Ikoyi, Surulere, Victoria Island axis of Lagos state during the mid-70s and 80s after the promulgation of the Land Use Act. Deed of Lease is important to have in place if you are considering selling your business or selling your commercial property as a landlord.    Deed of sublease: This is another relevant legal document. A deed of sublease could refer to a document by which a tenant or lessee sublets a part or all leased premises to a third party.   Land certificate: This refers to a document issued by the land registry to the owner of registered land as a proof of ownership of a piece of land. Prior to the promulgation of the Land Use Act of 1978, it was issued by a government’s land registry for registered freehold or leasehold lands in Nigeria. Land Certificate was usually issued to owners of landed properties when the Property Conveyancing Law of 1959 was still in effect.   Survey Plan: This is a document which explains the measurements and boundaries of a parcel of land to give an accurate measurement and description of that land. It discloses the true ownership status in any property’s transaction. It reveals if any land is not under any government acquired or committed lands/area. Although not everyone can afford to own a home, its benefits are endless. You grow equity, stabilize your budget, and have a long-term investment. There are also diverse options on how to turn in profit, and you get more freedom. You owe it to yourself to find out which works best for you.

Living * Real Estate Benefits of Owning a Home VS Renting By Realtypros Admin When it comes to owning a home or renting, there is always so much which is debated about. Both sides have valid reasons to which is better, so it can get a bit confusing. Renting is an agreement where a payment is made to the owner of the house (landlord) to reside for an agreed period. Renting is often seen as a waste of money but that’s not so. You would always need a place to live. Renting offers flexibility and a predictable monthly expense. The downside of renting a home, however, is sometimes you are faced with unpredictable rent increases each time your lease is up for renewal. Therefore, buying a home is always advisable. Buying a home is the biggest financial decision many people make, and it comes with a lot of peace of mind and security. It makes you feel good as you have a space that is truly yours. You do not have to be plagued with the worry of waking up to an eviction notice or worry about moving so much. Its benefits are endless. Below are a few benefits of owning your own home: Home ownership is a better long-term investment: When it comes to renting a property, you make the landlord richer by paying monthly or yearly rents. Home ownership, on the other hand, is an important asset which would always appreciate over time. You can choose to invest in buying a home today and sell it in the next 10 years and get massive returns on your investments. If you rent a property for 10 years, however, you won’t ever get any of your monthly rent payments back. The value of homes has risen and are expected to continue rising in the future, making home ownership a profitable long-term investment. Gain equity as property values continue to rise: Equity is the difference between the market value of your home and the amount you owe the lender who holds the mortgage. In simpler terms, it’s the amount of money you’d receive after paying off the mortgage if you were to sell the home. Increasing property values mean that the money you spend on your home will provide significant returns in the long run. Rents continue to increase: The cost of renting has and would continue to increase over time so if you rent you would have to deal with an occasional price increase. For example, you could rent a house for #450,00 now and in the next couple of years or months, the rent would go up to #500,000 or even #600,000. If you own a home and decide to pay #450,000 in mortgage the price of your home will remain the same. Owning a home comes with security than renting: With owning a home you have a feeling of security. Renting can be quite an uncomfortable experience and can become financially and emotionally draining. Renting can mean that you never really know where you’ll be living next as you can be evicted from your apartment by an unhappy landlord or one who wants to sell his property. Owning a home comes with control: The beauty about owning your home is you call the shots, and you are the captain of your boat. With renting, you can’t really alter your home to suit your needs as the house does not belong to you. There must be a constant need to seek the permission of the landlord before making major adjustments. Renters who constantly have a need to change or modify their home would also have to deal with changing residences which would bore a hole in your pocket. Home ownership means you can make improvements to your home, and home improvements usually lead to increased home value, both financially and in daily home life. Home ownership comes with Sustainability: In relation to your financial gains, owning a home can help create a sustainable future. As a long-term property renter, there would be a lack of sustainability because an integral portion of your disposable income is channeled towards housing expenses which are not stable. As a homeowner, you have more disposable income, unlike the tenant who must pay for rent from his disposable income monthly or annually.