Hmmm, Epe. This reminds me of a conversation I had yesterday. I was talking to a lady on the phone. She had reached out to me, wanted to acquire some lands so I hopped on a phone call with her.
We discussed some properties we have at Ibeju-Lekki, she said the price was more than she budgeted. So I introduced the ones we have at Epe and the first words out of her mouth was, ‘Epe is too far’.
That is why I decided to write this article today because I know many people have the same wrong notion. In fact, many people have missed life changing real estate investment opportunities because misguided notions like this.
When Lekki was developing and selling for peanuts, many people missed it by subscribing to the wrong belief that it is waterlogged and thus an unwise investment.
For many people that was the only thing that made them not to buy. They had the money. They had the opportunity but they passed it up on the wrong belief that Lekki is a wet land and thus a bad investment.
3 Worst real estate advice you may have heard from a friend or family that you should never take
The same exact thing is happening today with Epe and Ibeju-Lekki. The only difference is that instead of it being waterlogged, the new excuse is that it is far.
I don’t want you to fall victim to this wrong belief same way many people fell for the Lekki is waterlogged one years ago. After all the same land they said is waterlogged and thus a bad investment later started selling for hundreds of millions in Naira years later..
So what role does distance play in your real estate investment decisions? How far is too far?
The answer comes down to one thing; your purpose for that property.
Are you buying it to build your own residential house that you and your family will live in or are you buying it strictly for investment purposes?
The only time distance should be a major factor in your decision making process should be when you are buying a property where you and your family will reside.
If it is land, then you are buying it to build a house for you and your family. If it is a house, then you are buying it to move in with your family.
That is the only time that distance should be a major factor to be considered because distance is relative.
Epe is far?
“Epe is far”. Okay, far from where exactly?
“Lekki is far”. No problem, but far from where?
For someone who is working or conducting business at Victoria Island. Who leaves by 7am. Epe might be too far. Some parts of Lekki might even be too far for them and their family.
So obviously it will be very unwise for them to acquire residential property at Epe.
However when your purpose for acquiring a property is purely for investment purposes. Nowhere is too far.
I repeat for emphasis, Nowhere is too far.
This lady I spoke with yesterday said that what made her start thinking about investing in real estate is because 7 years ago they had the opportunity to buy Ibeju-Lekki for just ₦400k. Just ₦400k.
But no one was living there. It was mostly uninhabited so they turned down the opportunity. Today you won’t get a full plot of land at Ibeju-Lekki with proper title for anything less than ₦20 million.
That is why Lagos real estate market is the best performing in the whole of Africa. Goldman Saccs rated Lagos as the number one destination to invest in real estate if you want to get extraordinary ROI in the whole of Africa.
As far as Lagos state is concerned. Nowhere is too far.
Yesterday I was talking to a lady on the phone. She had reached out to me, wanted to acquire some lands so I hopped on a phone call with her.
We discussed some properties we have at Ibeju-Lekki, she said the price was more than she budgeted. So I introduced the ones we have at Epe and the first words out of her mouth was, ‘Epe is too far’.
That is why I decided to write this article today because I know many people have the same wrong notion. In fact, many people have missed life changing real estate investment opportunities because misguided notions like this.
When Lekki was developing and selling for peanuts, many people missed it by subscribing to the wrong belief that it is waterlogged and thus an unwise investment.
For many people that was the only thing that made them not to buy. They had the money. They had the opportunity but they passed it up on the wrong belief that Lekki is a wet land and thus a bad investment.
The same exact thing is happening today with Epe and Ibeju-Lekki. The only difference is that instead of it being waterlogged, the new excuse is that it is far.
I don’t want you to fall victim to this wrong belief same way many people fell for the Lekki is waterlogged one years ago. After all the same land they said is waterlogged and thus a bad investment later started selling for hundreds of millions in Naira years later..
So what role does distance play in your real estate investment decisions? How far is too far?
The answer comes down to one thing; your purpose for that property.
Are you buying it to build your own residential house that you and your family will live in or are you buying it strictly for investment purposes?
The only time distance should be a major factor in your decision making process should be when you are buying a property where you and your family will reside.
If it is land, then you are buying it to build a house for you and your family. If it is a house, then you are buying it to move in with your family.
That is the only time that distance should be a major factor to be considered because distance is relative.
“Epe is far”. Okay, far from where exactly?
“Lekki is far”. No problem, but far from where?
For someone who is working or conducting business at Victoria Island. Who leaves by 7am. Epe might be too far. Some parts of Lekki might even be too far for them and their family.
So obviously it will be very unwise for them to acquire residential property at Epe.
However when your purpose for acquiring a property is purely for investment purposes. Nowhere is too far.
I repeat for emphasis, Nowhere is too far.
This lady I spoke with yesterday said that what made her start thinking about investing in real estate is because 7 years ago they had the opportunity to buy Ibeju-Lekki for just ₦400k. Just ₦400k.
But no one was living there. It was mostly uninhabited so they turned down the opportunity. Today you won’t get a full plot of land at Ibeju-Lekki with proper title for anything less than ₦20 million.
That is why Lagos real estate market is the best performing in the whole of Africa. Goldman Saccs rated Lagos as the number one destination to invest in real estate if you want to get extraordinary ROI in the whole of Africa.
As far as Lagos state is concerned. Nowhere is too far.
I am Ugochukwu.
Send me a Whatsapp Message
