MACAULAY OAKS
Construction Real Estate

MACAULAY OAKS Sticky

By Omotosho Tobiloba 30 0

MACAULAY OAKS is an amazing gated estate with 50 serviced plots located in Ibeju Lekki, Lagos State.

It offers a variety of amenities such as basketball and football courts, gym house, accessible road network and drainage systems to make life more comfortable for its residents.

Each land provides ample space to build upon creating it as the ideal setting for any project

The area is surrounded by properties such as ITUNU, TIWA, and AMEN ESTATE PHASE 3 which are selling at an average price of 25-30 million naira per plot.

This makes it a great investment opportunity for those looking to purchase land in the region

Our land, which is located in the same area and has similar infrastructure to other properties around us, is currently being sold at a promotional price of N12M for 500 sqm and N7M for 300 sqm.

This offer represents an incredible bargain compared to what you would find elsewhere!

This makes it an excellent opportunity for long-term financial growth and stability.

Investing in land is one of the most secure and profitable ways to invest your money as it always appreciates over time.

If we look back at how much properties such as Lekki, Ikate, Salem was selling for before compared to now, you can see a significant increase in value.

Our land is strategically located in the center of a government-focused and future development area, with new seaports, airports and refineries being built nearby.

We are confident that this will bring more progress to our region as civilization continues to move forward around Ibeju-Lekki and other parts of the country.

Investing now while the prices are low is a smart business decision, especially with the current high inflation rate. You can watch your money multiply; and we would be delighted to help you make wise investments for maximum returns.

You can be confident that you will make a return on investment (ROI) of more than 60%, which is higher than the current or future inflation rate.

The real cost of rental in lagos Nigeria
Construction Real Estate

THE REAL COST OF RENTAL PRICES IN LAGOS NIGERIA.

By Omotosho Tobiloba 34 0

Lagos is one of the fastest growing cities in Africa. Apart from being the hub for entertainment and the likes, it also houses famous actors, musicians, and comedians.

Lagos may be the smallest state in Nigeria based on landmass but it has the highest number of residents.

Since Covid 19, house rentals in Lagos have sky-rocketed about 20%. Due to the effects of this, Landlords have increased their rent over their properties.

Lagos is divided into two sections and it includes Mainland and Island.

The island is considered as the hub for the rich and affluent, hence it is more expensive while there are some places on the mainland, such as Ikeja, Magodo, Ilupeju, that are also expensive.

But one of the biggest surprises renters in Lagos are beginning to learn, is the true cost of renting an apartment. Many times, the cost of the apartment is usually higher than the amount that is it was listed for.

Hence the need for this topic; when looking for an apartment in Lagos, you must factor in some hidden charges. This will help you set up your budget so that there are no surprises when you eventually make your choice.

Here are some hidden charges you should know about rental properties;

  • Agency Fee

This is the fee you pay to the agent who facilitated the renting process for you. The fee is not usually fixed (some collect as much 15% of the total cost of house). But understand that the more expensive the house is, or its location, the more the agent/Agency fee.

  • Agreement fee

This is the fee you pay after you have agreed to rent the apartment space. It is usually created by the owner of the property and it is disbursed at his own digression.

  • Commission

This commission is also created by the owner of the property and it is usually used to settle the agent/agents who helped you secure the space.

  • Damages/ Caution Deposit:

This is money paid to the Landlord for damages that the tenant may incur on the property while living there. If there were no damages made, the money is supposed to be returned, when leaving the apartment.

  • Service Charge

 This is the fee you pay for services rendered in some properties, services rendered varies and it includes, water, power, waste disposal, security, This cost is included in the rent and varies by property.

  • Hidden Costs and Benefits

These are the additional living expenses, costs or benefits a prospective tenant will incur by choosing to live in a specific place in Lagos.

Hidden cost like the cost of commuting from your new house to your work, how close is your kid’s school to the new property? How safe and secure is your new neighbourhood?

These costs can add up and make a significant impact on personal finances in the long run, like factoring them into your choice at the start can save you lots of money and hassle.

Do you have a budget and location in mind or you need help in creating a rental budget? Oakwood Heights Ltd is here to help make your renting in Lagos hassle free, Get in touch with us today!

Land
Construction

DIFFERENCE BETWEEN BANK ASSET AND LAND BANKING

By Omotosho Tobiloba 62 0

An asset is a resource with economic value that an individual or corporation owns or controls with the expectation that it will provide a future benefit. They are classified into current, fixed, financial, and intangible assets.

But today, we shall focus on Bank assets and land assets only.

Bank assets are referred to as Current assets. They are the ones an owner can convert into cash or cash equivalents within a year through sale or account payments. They include, cash, mutual funds, marketable securities, accounts receivables, goods and services, supplies, etc.

While Land assets are considered as Tangible assets. They are the ones you can touch, feel or see. Meaning they are any physical or measurable items an individual owns or company uses for its operations.

Land assets are also known as fixed assets. Fixed assets are assets which are purchased for long-term use and are not likely to be converted quickly into cash, such as land and buildings.

Below are some of the advantages of securing land assets;

If you are looking to purchase a property, we can help you choose the right properties, the right location, and at a competitive cost.

Blog Construction

TOP BEST INNOVATIVE REAL ESTATE COMPANIES IN NIGERIA

By 113 0

Getting a home is one of the most expensive purchases you’ll ever make. So, you want to make sure the company you work with is reliable and professional. We’ve compiled a list of the top best Innovative Real estate companies in Nigeria. Whether you’re looking for a house, an office, or a retail space, this list will help you find the perfect fit.

 

Oakwood Heights Limited

  • This is a real estate company known for their reliability, innovation, professionalism and integrity. They work with the clients budget with the mission of providing simple and affordable housing. 

 

  • They provide a number of services including Joint Ventures, Property Development, Agency Services. more services

 

  • They also provide many innovative products like the Oakhome ownership build-up, Oak staff mortgage scheme, Oak flexi.  more products

 

  • This company is a one stop shop for credible and reliable stress-free housing transactions.

 

Contact details

Address: 1b Omorinre Johnson close, Lekki phase 1

Website:  https://oakwoodheights.com.ng/index.php

Email:  oakwoodheights1@gmail.com

Phone: 09064881704

 

DPKay Homes

DPKay Homes is a private real estate development company in  Lagos, Nigeria. Their focus is to bring clarity to, and demystify the process of buying and selling real estate in Nigeria. They have 4 branches across Lagos, 1 in canada and are said to have trained over 1000 independent marketers.

 

Contact details :

Address: Suite 1, Level 4 Dominion Plaza, Lekki Expressway, Agungi Area, Lekki Lagos

Phone number : +234 706 400 1779

 

Dradrock

Dadrock is a real estate company that is into the development and sales of properties in Lagos.

They pride themselves on the core values of innovation, integrity, customer satisfaction, and excellence.

 

Contact details :

Address: House 2 Crescent Cross Estate, Hakeem Dickson Link Road, Elf Bus Stop, Lekki Phase 1, Lagos.

Email: info@dradrockng.com

Phone: +234 (0)802 547 6152

 

Refin homes

Refin homes mission is to create a culture of seamless homeownership and building communities. They are a community of builders set to establish, develop, strengthen and increase economic activities within identified localities.

Some of their products include; Home assurance scheme, Flexi-home owner, Instant Homeowner,  REFin edge etc.  

 

Contact details:

Address: 3/5 Boyle Street Onikan, Lagos.

Phone: +234 1 6327536/7, 09060730073

Email: contactus@refinhomes.com

 

HomeHunt Nigeria

Home hunt is an innovative app that allows an agent/landlord or developer to advertise their properties and also allows a buyer to search, find, view, rent, and lease or buy a property.

Payment is made by the buyer directly into the partner bank (Brent Mortgage bank).  The bank holds the funds in trust for the buyer until the translation is duly completed and verified before releasing the money to the seller, thereby ensuring a stress and fraud free transaction.

 

Property buyers can now buy property from anywhere in the world without worrying about fraudsters because the buyers pay directly to the mortgage bank (Brent Mortgage)

 

Contact details:

Email: HomeHunt.nigeria@gmail.com

Website: www.home-huntapp.com

Phone : 08158359542 

Construction

PROPERTY REDEVELOPMENT: WHAT YOU NEED TO KNOW

By 155 0

Whenever the subject of property redevelopment is raised, some people restrict their definition to demolishing an old building so that a new one can be built. However, redevelopment is restructuring of a current building or complex to make the it fit with present market trends. 

Property redevelopment can occur in different sizes. It can be small or big, or it can be about revitalizing a specific community or site. Let us run through some of the common property redevelopment types you should be aware of. 

Refurbishing existing buildings

An existing building can be improved upon or renovated to enhance the property’s value while tweaking the building to adjust it to present market trends. 

Demolition of current buildings to erect new ones

Whenever a property isn’t of any use again or does not add any value to a community’s real estate, demolishing the current building becomes a viable option. This is not just about demolishing an old building and installing a new building. Rather, the building that is about to be constructed has to align with the changing market trends. 

Redeveloping a contaminated industrial yard

This has to do with instances where a former industrial yard has been vacated for one reason or the other. Such lands are mostly contaminated and cannot be inhabited immediately. The redevelopment would include having the area cleaned up before any new construction can be carried out. That will contribute to an increase in that site’s value. 

 

Every property redevelopment process has to go through three distinct phases. We will highlight the different phases below for your kind understanding. 

Environment site assessment (ESA)

This stage is divided into two, namely ESA Phase 1 and ESA Phase 2. This first phase is basically about identifying the environmental state of the proposed site. This assessment phase is considered a necessity because you may not be able to tell if the place is contaminated with your naked eyes. The second phase assessment is the same thing but more comprehensive than phase 1. 

Developing a response action plan

If any contamination is identified, a Response Action Plan has to be developed. The response action plan or RAP happens to be a carefully orchestrated lineup of activities required to manage the site’s contamination effectively before the project commences fully. Items like site clean-up objectives have to be captured as part of the response action plan. 

Verifying the implementation of the RAP

This is the final stage of any property redevelopment process. In this stage, a verification is carried out to determine if what was drafted in the Response Action Plan is being implemented as planned. The documentation of the actual method used to clean up the contaminated site would also be captured in this document. 

Conclusion

Property redevelopment is a term with diverse definitions. It is a term that can be applied to various real estate reconstruction processes.

AGE OF INTERNET of THINGS; WILL MACHINE CONTROL OUR LIVES?
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HOMEOWNERSHIP: HOW NIGERIANS IN DIASPORA CAN OWN PROPERTIES AT HOME

By 113 0

Buying a property anywhere around the globe can be a stressful process. Nigeria is not an exception to this experience. That said, purchasing a property in Nigeria seems to be more challenging for a number of reasons. Some of the issues include fraudulent practices, quality of the property, transparency of the process, developers’ trustworthiness, delivery timeline, and the inadequacies of the present real estate regulations in the country. Issues like these make the process of buying a property more difficult for those living outside the shores of Nigeria. 

As a result of these challenges, Nigerians in the diaspora have developed various strategies to help mitigate the risks of losing their hard-earned money to developers that cannot be trusted. Some have adopted the measure of trusting the property development process to family members or relatives that can be trusted. In other instances, the interested parties have had to fly down to Nigeria themselves to personally ascertain the progress of things. These measures have also failed because we have seen so-called trusted family members disappoint on several occasions. 

Do you live outside Nigeria and have racked your head on how to safely purchase a property in Nigeria without getting a heart attack? The following tips can help. 

Purchase from trusted developers

Developers are quite many in Nigeria and trying to choose one that is trusted can be tricky. This is where you need to do thorough research and ask questions where necessary. You can send someone to verify the authenticity and capability of any developer you have in mind. Request for previous jobs they have done in this regard before committing yourself to anyone. Oakwood Heights Limited is one of the trusted developers with proven track records. Kindly get detail information from their website www.oakwoodhieghts.com.ng. You can also get properties from the Homehunt App, kindly visit www.home-huntapp.com for more information on how the App works.  

 

Get a lawyer

Buying a property without the guidance and advice of a lawyer will be at your detriment. It would help if you have someone who is grounded in the Nigerian legal system. They have a better idea of how real estate transactions are done in the country. 

The lawyer can assist you in reviewing the papers of the property to be sure there are no legal loopholes. And when a lawyer is included in such projects, the builder would want to get the job done as soon as possible. 

Include other professionals

If you are going for an old property, you should secure the services of a qualified engineer or a registered surveyor. These professionals will help evaluate the property’s quality and ensure you are not paying anything higher than the worth of the property.

Monitor the project

Even after taking all the above steps, you still need to find a way to monitor the project yourself from wherever you are. If it will be inconvenient for you to travel down to see the project yourself, collaborate with someone around to help you do that. It’s a good thing we are now in the digital age. With photos and videos, you can keep a close eye on the progress of work. However, if you notice anything strange, you can stop sending funds for the project until you are convinced about the level of work done.

Thank you.

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ISSUES AFFECTING THE REAL ESTATE INDUSTRY IN NIGERIA

By 163 0

Although there are limitless opportunities for turning in huge profits in the real estate a market in Nigeria, it also suffices that serious limitations are plaguing the market. Some of these factors have been responsible for the industry’s slow growth over the last few decades. Anyone planning to invest in this business should reflect on these issues and think of how they can get past them. This article will be reeling out some of those factors for you to be aware of. 

Liquidity

The ability to quickly convert real estate investment into cash whenever necessary is one thing that keeps motivating investors into this market. However, the story is slightly different because converting your investment into cash is not as easy as what you get in other climes. 

Trying to source basic info like deal prices, leasing activity, property ownership, and supply can be quite challenging. In Nigeria, you might end up spending a great deal of time converting your investment into cash because of how information is disseminated. That’s the more reason you cannot afford to work with a quack real estate agency. 

Omo-Onile

This is another factor that has managed to set the industry back by many years. These guys can be a real pain in the ass. They appear to be more pronounced around the western regions in Nigeria. These guys will make you pay a certain amount of money at almost every stage of the building project. From the foundation level to the plastering to the roofing, you have to pay specific levies. Otherwise, these guys will stop the job. 

Unfortunately, this ugly trend has negatively influenced the costs of completing any building project within such locations. However, with an experienced real estate company, you can be properly guided about where you can invest your hard-earned money without inviting this nightmare to yourself. 

Advanced fraud 

Countless people have fallen to real estate fraudsters in Nigeria over the last five years or so. Individuals who were only looking for property for their personal use have made the bulk of the victims. Sometimes these guys make their services look so genuine by taking you to sites that are not theirs. 

Gone are those days where you throw your hard-earned money into real estate investment in Nigeria. This is not the time to do a real estate transaction with an agency without any record with the authorities. Instead, you can patronize agencies that have had a good track record to their name. Patronize a trusted and experienced company like Oakwood Heights Limited and a host of others, and you can be sure of getting good value for your money. 

Conclusion

The Nigerian real estate industry is where the good, the bad, and the ugly are all in attendance. Don’t try to cut corners by walking with the wrong guys. And just because a seller is offering you a good deal doesn’t mean it is worth it. Oakwood Heights Limited ensures you follow the right channels in acquiring any property in Nigeria.

 

For inquiries, please reach out to us on 07047214004 or send us a mail at info@oakwoodheights.com.ng

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INVESTING IN NIGERIA’S REAL ESTATE INDUSTRY: WHAT TO CONSIDER?

By 146 0

Nigeria has been a promising destination for both local and foreign investors when it comes to real estate investment. From the business hub of Lagos to Abuja, where you have the political whims and caprices, a lot has gone down in the real estate industry. And it is not just about companies and individuals buying for commercial reasons; others are also purchasing property for personal use. 

Therefore, if you are looking to invest in the Nigerian real estate space anytime soon, you need to be aware of certain factors. This article will be briefing you on some of those factors;

Nigerian real estate laws 

Several laws regulate how real estate business in Nigeria should be conducted, with the most popular being the Land Use Act 1978. As stipulated in the law, the Governor of the state has the sole right to control and administer the land space within his jurisdiction for the good of the state’s citizens. The Governor grants the right of ownership to whoever is applying for ownership of land. And that makes it irresponsible and unlawful to have a land space transferred to anyone without the knowledge and consent of the Governor. 

Real estate acquisition

There are a couple of legal processes you are expected to go through before someone can transfer a property to you. From conducting due diligence on the land to the actual post-completion stage, you are meant to complete every process. 

For instance, you are expected to secure the Governor’s consent, get the document stamped, and make sure the document is properly registered. All of these processes will not happen in a week. It takes time to accomplish these procedures. You may require more than three months to fulfill these three legal procedures, depending on how fast your papers are processed. 

Real estate and foreign investors in Nigeria

Usually, you cannot invest directly in a property in Nigerian as a foreigner. But, thanks to the Acquisition of Lands by Alien Laws, foreigners are now free to invest in real estate in Nigeria, with the condition that the property in question gets the necessary clearance or go-ahead from the state governor. 

Another way to invest in real estate in Nigeria as a foreigner is by going through corporate bodies registered in Nigeria. The potential investor has to be sure the state government has approved the property they intend to invest in. 

Conclusion

The real estate industry in Nigeria is developing rapidly, and investors are making a hell of money off the property business. Hence, if you are looking for a real estate agency that can guide you through all the processes required by Nigerian Law, Oakwood Heights Limited is here to serve you. Whether you are a Nigerian or a foreigner, we can help you by ensuring you don’t go through hell to acquire property in Nigeria.

 

For inquiries, please reach out to us on 07047214004 or send us a mail at info@oakwoodheights.com.ng

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CREATIVE FINANCIAL STRATEGIES FOR NIGERIA’S REAL ESTATE INDUSTRY

By 168 0

A major problem real estate investors are faced with is how to finance their real estate investment. Securing the ideal financing is a key factor in earning money in the business of real estate. An investor’s two most common methods to buy their first investment real estate or property are loans from a bank or cash transaction. Though these are acceptable means of financing the purchase of a property, not always the best and only options. 

The use of alternative solutions for securing finance can be a valuable way to quickly set up your real estate business and broaden your investment portfolio. This is why at Oakwood Heights Limited, we consider creative real estate financing methods when investing in real estate to enable our customers to secure deals that they otherwise may have missed out on.

So what is creative financing for real estate investment? This article will provide you with a guide to creative financing for real estate investments and share some unique, insightful, methods of financing real estate.

What Is Creative Financing for Real Estate?

Creative financing for real estate is a term that refers to all non-traditional ways of acquiring an investment property. There are various reasons why real estate investors might want to consider non-traditional ways of financing a property. A major reason is the lack of flexibility of typical loan terms and strict requirements that banks impose on borrowers. 

There are several types of creative financing methods for real estate. These techniques vary in terms of credit requirements, loan flexibility and processing speed. Below are the four (4) most effective creative financing methods.

  • Seller or Owner Financing

Seller financing is one of the simplest ways to acquire real estate without the assistance of a bank or lender. It is often used by real estate investors who do not qualify for lending by financial institutions. The investor and seller work out the cost price and terms of the financing agreement, and the investor agrees to pay the seller directly and in instalments until the purchase is complete.

  • Personal Loans

Due to strict credit requirements associated with obtaining loans from deposit-money banks, many people tend to ignore personal loans. In some situations, personal loans can be effective. For instance, investors with good credit scores and small or no equity should strongly consider this creative financing option. It offers a short term of repayment.

  • Lease Options

This is also referred to as rent-own purchase. It is also a simple method to invest in real estate without finance from any bank or lender. It is different from seller financing. In this case, the seller reserves ownership of the real estate and acts as the landlord, while the real estate investor will function as the leaseholder or tenant. The investor only holds an option to purchase the real estate as they are not obliged to purchase the property.

  • Short-Term, Asset-backed, Bridge Loans

This is also a creative means of financing the purchase of a real estate investment. It is asset-based and secured by a mortgage. An investor accesses this loan with the intent of closing the deal within one year. It is recommended for a fix-and-flip type of real estate investment. Here, an investor uses the loan to finance the purchase of the property and renovates the property with his fund. The investor pays off the loan when the property is sold. 

For inquiries, please reach out to us on 07047214004 or send us a mail at info@oakwoodheights.com.ng

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NIGERIA REAL ESTATE: THINK OAKWOOD HEIGHTS LIMITED-THE SMARTEST INVESTMENT FOR YOU

By 139 0

Nigeria is going through a rapid shift in population from rural to urban areas. According to the World Bank, with a population growth of 2.6%, Nigeria’s population is on a steady increase. Villages and cities are becoming larger as more people live and work in cities and towns. This is due to social, economic and environmental changes, which provide an opportunity for sustainability. This has increased income levels, a better quality of living standards than rural areas.

Despite the challenges facing this country’s real estate industry, the facts highlighted above seem to have prompted new investors to explore the industry more. Oakwood Heights Limited is one of such experienced, transparent and successful investors in nation’s real estate industry.

Oakwood Heights Limited is a property development company established to create and construct affordable housing units for Nigerians with a major focus on mid-low working-class professionals. 

Suppose you are looking for consistent gains on your money and investment as the world economy begins to recover from the effect of the pandemic. In that case, it’s time to take a good critical look at real estate investment.

Billionaire Andrew Carnegie, a Scottish-American industrialist and philanthropist, notably said 90% of millionaires obtain their wealth by investing in real estate. Real estate is tangible, solid and beautiful. For smart investment in the real estate space, “think Oakwood Heights Limited”.

In this article, several innovative products and services tailored towards your smartest investment needs and delight are discussed in this article; with a view of providing you with positive cash flow and value for your investment.

Oak Home Ownership Build Up

The product allows you to gather the minimum equity of fifty percent of the property’s value you wish to purchase. Oakwood Heights Limited would let you occupy the property while we provide the balance of 50% via rent to own or a mortgage.

Oak Staff Mortgage Scheme

This mortgage scheme is designed for staff of specific organizations like companies, corporations parastatals, etc the purchase and repayment is based on the pay structure and salary of staff of these organizations.

Oak Flexi

The Oak Flexi gives you the privilege to access NHF at 6% per annum, coupled with a mortgage loan to purchase a property of your choice.

Developers Market

This service provides a platform that allows real estate developers to advertise and sell their properties through Oakwood Heights Limited. As a developer, all you need to do is to contact us for the terms and conditions related to this service; follow the required procedures, and upload the said property on the platform.

Diaspora Delight

This product offers Nigerians in Diaspora the opportunity to purchase properties at their choice locations and get positive cash flow. Oakwood Heights will facilitate access to such properties, provide a convenient payment platform and put in place mortgages for interested customers where applicable.

Conclusion 

As a developing economy, the real estate space is evolving fast. Real estate appreciates more reliably than other investments. Therefore “think Oakwood Heights Limited” for your smartest investment opportunities in the nation’s real estate industry.

For inquiries, please reach out to us on 07047214004 or send us a mail at info@oakwoodheights.com.ng