1. Decide if buying a home is right for you
Although 86% of people in Nigeria want to own their own home, it’s not always right for everybody all the time – some people end up with big regrets. so always ask is buying right for me?
There are a number of things you need to think about before setting off on your home hunting quest – not considering whether you can actually afford it. The question now is can I afford to buy a home?
2. Decide on your budget
If you are already a homeowner, decide whether you want to sell your house or flat before you buy. It can be dangerous in a rising market, but there are upsides. In particular, you will be able to pounce quickly when you do find the home of your dreams, and you won’t be trapped in a housing chain.
3. Decide where you want to live
- If you want to move to a new home close to where you already live, there is little to decide
- If you want to move to a different part of town, or across the country, then deciding the area is more difficult and time-consuming.
- This is a very important decision – get it wrong and you will either be unhappy with where you live or face the costs of moving again. You must do your research thoroughly.
4. Choose a specific property
- Once you know the area you want to live, you should start researching the properties in that area thoroughly so you really get to know the local market well
- You need to visit as many properties as possible and make sure they are no hidden surprises.
- It’s also important to understand whether the property is freehold or leasehold, and that it is not on a short lease.
- You need to visit as many properties as possible and make sure they are no hidden surprises.
5. Create an accountability group
One of the beautiful advantages of the modern age is that despite being in self-isolation we don’t have to truly be alone. Video conferencing makes it possible to communicate with large groups of people at any time of the day. Here are some ways you might want to start creating accountability with your peers:
- Set up a daily morning meeting with other real estate agents in your market where you all touch base with each other and share your intentions for the day.
- Create a skills sharing pod where each member of the group gives a presentation about an area of their expertise each week. You can learn a lot from other real estate agents who have deeper knowledge in areas you’re less experienced in, plus you can share your talents with others.
- Organize an industry-wide virtual happy hour where you can mingle with not only real estate agents but mortgage brokers, leasing agents and marketing professionals. Organize virtual games or mixers you can play during the happy hour to get everyone participating in the conversation.
6. Call BEMD properties
At Bedum Estate Management and Development helping your real estate is what we do.
