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  The same way there are wrong ways of investing in other business sectors, is the exact same way within real estate, and it all starts when an investor lacks the very basic knowledge and understanding behind the investment broker to investment and profitability correlations. It’s quite simple, as an investor before putting money into any kind of business, you need to understand that an investment is the act putting money, asset, time or effort into something, in this case a business, and doing so in expectation of a sort of profit, gratification or any other kind of satisfaction, also one need to understand that an investment broker is a firm or person who is firstly meant to be more knowledgeable about the business than you are, and secondly monitor the affairs of your money, asset, time and effort in that business. So two things you must know and understand properly are the; 1.      Type of returns you are expecting from such a business and 2.  ...

  Quickly now, Have you ever wondered why recently, there has been a serious increase in the cost of housing within Lagos state and its neighbouring states, especially how apartment rents have tripled in the last 10 years, like why is it that way? Is it because of the exchange rates or economy? Is it due to little to no regulations? Well the fact is; it was bound to happen, why? Simple and for the lack of a better phrase, “the World has its eyes on Africa”, and guess what else, Lagos is unconsciously expected to be the nucleus of what is coming. Let’s start by referring to the big apple, talking about the vibrant city of Newyork, a lot of Africans, particularly Lagosians are yet to come to terms with the fact that Lagos will be expected to be to the entirety of west Africa, what Newyork is already to America, talking about the buzzling population and business, in Newyork, renting an apartment is super expensive, a 2 bedroom apartment goes for at least a million naira monthly, t...

  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...