There are a lot of popular myths that come with land investments. What usually brings them up is confusion, anxiety, and tension.
When it comes to investing in land, different questions start coming up like “Do I need to have a lot of money to buy a land?” “How safe are property investments?” or even “Am I not too young to buy a property?”
So, to help you ease the tension, we’ve debunked a couple of popular land investment myths in Nigeria. Let’s go through them then, shall we?
- You Need A Lot Of Money To Buy A Land
This is one of the most popular lines of thought when people want to buy a land in Nigeria. What a lot of people believe is that land is expensive, and for you to buy one, you have to be rich.
Though getting a land has been a significant part of the investment portfolio of wealthy people, it doesn’t necessarily mean that they are the only ones that have a right to enjoy it.
Thanks to the digital age, the myth has been debunked and has become easy to spot. Now, a reputable property agency can have several affordable lands listed on their website.
- Land Is Land; Why Can’t I Pay The Same Price For All?
When you talk about price, the value of land differs depending on different factors like proximity to main roads, the size of the land, its location, and so much more. Hence, all lands are not the same. This must be at the back of your mind when you’re planning to buy a land.
Now, we all know that buying at a low price and selling at a higher one is how we make a profit. However, this does not always mean that the land with the lowest price is the only one that has the potential to get a greater return.
Sometimes, cheap lands lack potential. You could come across some issues that devalue it.
- The Value Of Land Grows Slowly
One last myth that we are going to be debunking is how people think that the value of land grows at a slow rate. Most times, the growth in the value of land depends on if the land is first-rate or not.
If the land is a bit far from urban and residential areas, then its value will grow slowly when compared with that close to the city. Hence, where you buy a land determines the growth rate of its value.
Economic activities, immigration, location, amongst others; these factors usually determine how fast the value of your land will grow.
- You Need Specialist Skills And Knowledge To Invest In Land
Investing in land is just like any other investment; there are going to be risks. However, investors try to reduce the risks they get exposed to. That said, there is no special manual or technical knowledge needed to buy a land.
You don’t need to be a professional in the building trade or know how to grade roads, subdivide plots of land nor how to take soil samples. But, if you need all this information, then you can hire a specialist.
To Wrap It Up
So, there you have it; popular land investment myths that aren’t completely true. Now, you can go get a land without any fear.
1 thought on “These Land Investment Myths Are Completely False”
some really interesting details you have written.