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There are several real estate tips that lead to a successful property investment. Some are real estate tips for buyers, while others are real estate tips for sellers. Some real estate investors who earlier bought properties will later need to sell them for a profit. That’s why all real estate investors should know these essential real estate tips for buyers and sellers that can positively impact their property investment. 

Real Estate Tips For Buyers

Below are important tips to adhere to maximize your property investment in Nigeria.

Time the Market

In all industries, the forces of demand and supply determine prices – affordability. Generally, prices surge when demand surpasses supply, and vice versa. So, it’s important to time the market to ensure prices dip before jumping in. A seasoned real estate agent can help with the right timing if you find it challenging.

Consider the market statistics (property value, rent, ROI, market crashes, cost of renovation etc). There is a quote that “The figures don’t lie”. They help you understand the market trend and the best time to enter the market. 

Location is King

A plot of land in a good location is better than an acre in a very remote village. It’s fair enough if the environment is highly developing and close to a commercial city. 

If you want to reside there, ensure it is close to your point of basic supplies, utilities, children’s school and your workplace. Also, ensure the area has basic infrastructure like a good network of roads and electricity.

Turnkey Rentals

Instead of engaging in direct property flips, investors can lease the property before putting it out for sale. This makes it a lucrative cash cow that’s attractive to its new owner because it starts earning from day one. It can also boost the property price, ROI and ease of sale. 

Triple-net Lease

On a normal lease or rental, investors are responsible for insurance, maintenance and, property taxes. A smart move is to reach an agreement with your tenant to bear all responsibilities, especially if the property is an office, business or industrial building. 

Live Your Expertise Per Time

Investors’ earnings are in direct proportion to their expertise. That’s a good reason to start small when you are a beginner, even if you have a huge capital. Increase your property investment as you grow in expertise. The burden of larger property investment might be too heavy for an amateur. 

real estate tips of the dayReal Estate Tips For Sellers

This section focuses on important tips every investor should know before selling their property.

Price It Smart

Valuing your property in a way that is neither too high nor too low is essential for a quick sale and not leaving money on the table at the same time. An over-priced property will scare buyers away, while an under-priced property leads to lower ROI for the investor.

Stage the Property Right

Staging your home is a smart investment that can help sell your property quickly and for the highest possible price. Using furniture, textiles, and artwork, a professional stager can create an inviting atmosphere that helps buyers visualize themselves living in the space. Staging can also maximize the potential of your space, make your home more appealing and stand out from other properties in the market.

Professional stagers remove personal items and clutter to create a cleaner, more spacious feel that can make your home appear larger than it is. By making your home move-in ready, staging can justify a higher asking price and potentially increase your profit margin. Overall, staging is a wise investment that can create an emotional connection with potential buyers, leading to a quicker sale and a higher selling price.

Get Great Pictures for the Property

Taking good pictures is crucial in attracting potential buyers when selling a property. Hire a professional photographer, declutter and clean up the property, use natural light, highlight the best features, use high-quality images, and edit the pictures to enhance their quality. These tips will help capture the best property features and make it look attractive to potential buyers, ultimately helping to sell the property more quickly.

Minimize the Cost of Home Improvement

The costs of renovation and home improvement add to the total costs of the property. If not put in checks, they may spike the property price and make it too expensive compared to similar properties in the market. Investors should therefore do basic improvement of the property instead of a complete restructure of the entire property. 

Concluding Remark

These real estate tips for buyers and sellers are some of the best on the internet. They will be useful to beginners and professionals. You may not need all the tips at once, but you will always need one or more of them when investing in real estate.

As a potential property investor who has more questions on the subject matter call +2348037843617 or email us at [email protected], and we will respond within 24 hours.