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  Have you ever wondered why some spaces are small and comfortable, while other spaces of the same size just feels super inconvenient and uncomfortable, well stop worrying, as we will be looking at one of the concepts that guide proper spatial allocation when designing, planning, leasing, buying, selling, or renting real estate properties. The truth is a lot of building and real estate consultants are not aware of the fact that there is a huge difference between usable spaces and available spaces, in terms of square meters or feet that is, this means when a space is said to be about 100sqm, it does not immediately mean a 100 square meters of usable space, but just a 100 square meters of available space, and not understanding this simple thing continues to cause issues within real estate, as people start doubting each other’s credibility simply because two different space said to be the same square area, practically look and feel different. What is a usable space? In real estate...

  Earlier we looked briefly at land valuation, and just like land, when it comes to building property valuation, all determinants are categorized under location related factors and economic factors, which addresses the issue of property demand and supply, now looking in debt at some of these factors when it comes to building structures, we also find some things interesting: 1       ARCHITECTURE QUALITY: This is what determines the initial public offer in valuation before any other factor is considered, the architecture style from interior to the surrounding landscape, and most especially the building’s design exterior. 2      USABLE SPACE: This is referring to the actual usable space minus circulation, this is as a result of poor spatial design allocation within most buildings, especially when you come across a 200 square meter property having only 100 square meters of usable space, at Built-Advice, we believe for residential bui...

Quickly now, we will be looking at land valuation determinants, although when it comes to anything property valuation, all determinants are categorized under location related factors and economic factors which addresses the issue of property demand and supply, obviously when demand is higher than supply, it causes an increase in valuation, but looking in debt at these factors when it comes to land, we come to find some things interesting: 1.      PROXIMITY TO LANDMARKS: This is practically one of the simplest or easiest ways to increased or in rare cases decreased land valuation, as nearness to notable or popular landmarks can help your land valuation 2.     DEMOGRAPHY: Another easy way to increased valuation is the demographic nature of the environment, be it by age, race, tribe, citizenship, income class, the more notable the better 3.     ROAD NETWORKS: This is probably the most popular determinant for land valuation, as p...

  In life, human needs are never thought, they are usually realized over time, a child is never thought she or he needs air to breathe or food to eat, the hunger for both comes naturally, same way over time young adults, the need to make or earn a living comes up, for many especially those who plan to one day have a family or already have one, there is going to be a desperate need for shelter, that is owning a house. The problem with satisfying this need is the fact that not many understand how this need is exactly met, why? Simply because there is a huge veil of ignorance blinding many, this veil is what makes many weigh their personal wants over their need when it comes to owning a house; this is why I felt the need to write on owning your first house. The basic truth no one tells you, is that there is a huge difference between your first house and your dream house, a lot of people think they are the same, hence why you can find a 40 year old with an averagely good job but yet ...

  The word “affordable” is one of the most abused words in the African real estate market, one would expect for something to be inexpensive or at least have a reasonable price when tagged as affordable, but a complete reverse is usually the case. This is what has set the grounds for this topic, as we will be carefully looking at the concept of affordable housing in relation to Nigeria’s five income classes, Yes five, these five classes can later be categorized into 3 classes, they are; Low income class, with an annual income of #480k and below Lower middle income class, an annual income from #480k to #6m Upper middle income class, an annual income from #6m to #12m Upper income class, an annual income from #12m to #120m Elite income class, with an annual income from #120m and above These 5 classes as you guessed it can further be categorized into 3;   Low income class, which comprises of a staggering 80 million of Nigeria’s 200 million citizens, that is 40% of the total...

Quickly now, we will be looking at the socialist idea behind the feasibility of long term mortgages in Nigeria, using the United states of America as a short case study. Let us note that we will not be going into too many serious details, but simply exploring the idea and its possibility in a country like Nigeria. Firstly we must notes for those who are not aware, that there have at different points in the history of Nigeria, been long term mortgages available to the public, but the obvious infestation of vested interests did not make it a successful venture for real estate investors. A mortgage is simply a legal agreement where a bank or entity lends money, product or services at an interest rate, while holding on to an ownership title or deed of a property or asset, be it a physical or intellectual asset. In general real estate practice, it is a process by which a bank or authorized real estate body/society lends money to approved individuals, to make a real estate property availab...

Quickly, now have you ever wondered what the risk levels are on different businesses?, well say no more, the following outline shows the average success rate on percentage in Africa, for different common businesses you can potentially put your money, time, and intangible assets into; ·          Farming – 40% success rate ·          Tech – 20% ·          Importation – 35% ·          Domestic retail – 50% ·          Mining – 20% ·          Company shares – 30% ·          Oil related services – 15% ·          Real estate – 95% ·          Entertainment – 2% ·          Cosmetic r...