Beginners Guide to Investing in Commercial Real Estate
House hunting can be challenging.
Most times, you might end up spending months going from house to house without arriving at a decision. This is because, it is highly unlikely to find a house that meets all of your criteria spot on and still fits your budget.
However, there are always things to bear in mind when house hunting to ensure that you get the right home for you especially here in Nigeria.
The first and most important thing that determines if that house is yours is your budget. It’s imperative to draw up a budget before beginning your house search and stick to it. Sometimes, you might see a house which seems just like paradise but is way over your budget and you might be tempted to just go over board to ensure you get it. The danger here is that a house doesn’t stop being expensive the moment you buy or lease it. If the house is on lease, you are going to have to keep paying rent every year or as stipulated; so ensure you can afford it. Also, a larger and more expensive house equally translates into higher cost of maintenance. So, budget is key.
The size of your family also matters. It is important to ensure that whatever house you are purchasing will be comfortable enough for your family. Also, in a country like Nigeria where extended families are never too far away, it would be helpful to make provision for this when choosing a house.
There are several factors to consider, such as if the home has safety measures put in place (especially if you have kids), lighting and several others.
Overall, you need to choose something that works for you and your family; the house has to speak to you.
When you go for a house inspection, and you immediately feel at home when you walk into the doors of a particular house, you know that house is for you.