Introduction to Off-Plan Houses in Lagos
The term “off-plan” is widely used in real estate to describe homes purchased before construction is complete. Unlike land, off-plan refers exclusively to housing projects initiated by developers with no existing structures in place or structures not yet fully completed.
Understanding what an off-plan house entails is essential for buyers in Lagos, as it helps to avoid pitfalls and make informed decisions. Investing in an off-plan house in Lagos can be highly rewarding, offering numerous financial and customization benefits.
What is an Off-Plan House?
An off-plan house, sometimes called a pre-construction home, is a property purchased before its completion. Buyers collaborate with real estate developers, who construct the house according to agreed specifications.
Off-plan houses can range from studio apartments to duplexes, terraces, high-rises, and maisonettes. If you want to buy a house belongs to the market value, then consider an off-plan house.
ATTENTION: Buying Off-plan is profitable in Lagos when you are buying it from a reliable company with a good track record of delivery. Send a message below to invest in off-plan house in Lagos:
Why Buy an Off-Plan House in Lagos?
Investing in an off-plan property offers several advantages:
- Affordable Pricing
Purchase below market value and enjoy significant savings compared to completed homes in the same area. - Property Appreciation
As construction progresses, the value of the property increases, providing excellent returns on investment. - Flexible Payment Plans
Spread payments over 12, 18, or even 24 months, depending on the developer’s terms. - Project Monitoring
Buyers can oversee the construction process, ensuring transparency and quality. - Customization Options
Modify interior layouts to suit your preferences, such as expanding a master bedroom or adjusting the kitchen size.
SEE THIS: How Real Estate Mortgage Works In Nigeria
What to Look Out for When Buying an Off-Plan House in Lagos?
- Developer’s Track Record
Research their past projects and client reviews. - Project Details
Request brochures, 3D videos, and floor plans to understand the design and scope. You can send a DM to us on WhatsApp to get the best brochures of off-plan houses in Lagos. - Reputable Realtor
Partner with a knowledgeable realtor like me to monitor the project and ensure accountability. Talk with me to guide you through.
- Due Diligence
Verify the developer’s credibility and investigate the project thoroughly. I can help you and recommend a property lawyer who can do that.
Advantages and Disadvantages of Off-Plan Houses
Advantages:
- Affordable prices
- Flexible payment options
- Customization opportunities
- Project Transparency
Disadvantages:
- Potential delays: There might be a little delay as a result of building materials or unforeseen circumstances.
- Risk of incompetent builders: You will be at a disadvantage if you invest through incompetent builders or developers
- Challenges with unreliable developers: Not all developers are reliable. So you need to be careful and carry out some background checks.
ATTENTION: I can help you invest in off-plan projects with reputable companies. Send a message below to get started.
Off-Plan vs. Finished Houses: Key Differences
- Payment: Flexible for off-plan; outright for finished homes.
- Customization: Extensive in off-plan; limited or nothing in finished homes.
- Monitoring: Possible in off-plan; not feasible with finished homes.
READ THIS: 7 Things to look out for when buying a house in Lagos
Steps to Acquire an Off-Plan House in Lagos
- Engage a reputable realtor like Peter Oyedepo (Lead consultant for Sureland Realtors Ltd)
- Select a reliable developer.
- Evaluate the project location, title, and details.
- Choose a payment plan that suits your budget.
- Monitor the construction process regularly.
10 RELIABLE REAL ESTATE COMPANIES YOU CAN TRUST WITH OFF-PLAN HOUSE
- Veritasi Homes and Properties
- Evermark Homes and Properties
- Tribitat Real Estate
- Nedcomoaks
- Ace Real Estate
- Zylus Homes
- Finebricks Investment Limited
- Dealinchers Realtors Ltd
- Adozillion Homes and Properties
- Zenco Properties
NOTE: Those companies mentioned above has a great track record of offplan houses being delivered. Most of their houses are being at off-plan and people are living in there already.
To know more about those real estate companies, please reach out to us and we will be glad to work you through the process.
READ THIS: THE POWER OF INITIAL DEPOSIT WHEN BUYING PROPERTY IN NIGERIA
7 Top Places to Buy Off-Plan House In Lagos
- Ikeja: From studio apartment to even commercial real estate.
- Victoria Island (VI): High-rise buildings are mostly sold here.
- Ikoyi: Another place for off-plan houses in Lagos is Ikoyi.
- Lekki Phase 1: There are a lot of off-plan houses in Ikate and Lekki Phase 1 respectively.
- Chevron, VGC, and Orchid: You can also get some off-plan houses here.
- Ajah: From Abraham Adesanya to Okun Ajah, there are amazing off-plan houses.
- Sangotedo: You will get premium off-plan here as well.
Conclusion
Buying an off-plan house in Lagos is a profitable and flexible investment. From affordable pricing to the freedom to customize, it offers numerous benefits for homebuyers and investors alike.
For expert guidance and the best deals, contact Peter via WhatsApp at +234 901 509 4850 or click on the WhatsApp button on your screen.
