How to secure you and your children’s future in Nigeria

Secure Real Estate FuturePeople have different opinions on how to secure theirs & their children’s future through savings, insurance, assurance, investments, etc. It depends on which is convenient and works for each individual.

People see that they can secure their future by saving money in banks which appreciates on the amount saved as well as the interest rate the bank offers. Others may prefer the insurance & assurance option, while some invest in shares.

In order to secure you and your children’s future you have to consider the following:

1) Is it short or long term

2) How much do you have to invest

3) How flexible/convenient is the payment plan

4) What kind of returns, if any, do you want from the investment

5) How secure is the investment and the entry and exit factor

6) Is the ready market for the investment

If all these above with other factors are addressed then one can confidently make the right option as long as proper/professional advice has been given on same so as not to be a victim of bad investment.

Hence the question:

How can I secure my future?

What legacy can I secure for my children?

A secure long term investment with flexible and convenient payment structure, especially when the returns are high, is advisable when thinking of your children’s future or even your own future, as long as it doesn’t demand so much from you in the present.

Land/Property as it were is one investment that is extremely secure due to its appreciable nature, especially in locations of high economic, social, commercial and infrastructural activities. It is a long term investment and its gestation period attracts high returns which continues to increase over the years as long as activities increase within and around the location in question.

Though land is capital intensive in nature we have gotten to the era where Real Estate Developers have strategized ways of making it convenient for people to buy property through the introduction of instalment payments spread over a long period of time to up to 36 months depending on the cost.

When thinking of a secure investment for your children or even yourself for the future, land/Property should surely come to mind because of the following reasons as compared to other investment options:

  • It has high returns and continues to appreciate in value
  • There is a ready market for land as it could be seen as a necessity of life because without it practically all human activities would be hindered.
  • Land/Property can be used as collateral when applying for loan
  • Land/Property can be used to generate streams of income.

History has proven that places which used to be bushy or forests after some years become residential or commercial locations as activities spread towards such area.

Taking Lagos as an example, places such as Lekki, Magodo GRA, Mowe, Ikorodu etc. used to be inhabitable but now major activities exist in these areas. As more activities spread, more areas develop and more investment opportunities are prevalent.

Let’s take these practical examples:

  • Imagine you plan of owning your own place in 5 years and you buy into one of such land investments which can result in you residing in the location or purchasing property in another location through the proceeds from the returns of your investment. The beauty about such investments is that you have the option of instalment payments so you can conveniently pay for your investment and carry on with other expenses.
  • Imagine you have a children and you need a means of paying for schooling and having a legacy for your children that will last a life time. You could invest over a period of time by which time you would have more than enough funds to take care of your children’s future, especially when the investment appreciates over the years.

In this case, why not invest in property in promising areas but are presently affordable, especially when you have to pay on instalment basis, having in mind that it is for your future or even for your children.

If you need ideas of promising locations and credible property development companies, reply this article, indicating your interest.

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