Understanding Property Investment in Nigeria; OnPlan Property

The real estate industry has a wide range of options and platforms for investors to choose from. It is always advisable to choose an option or platform that aligns with your financial budget and investment plans.

In the previous post, we looked at the pros and cons of investing in Off-plan Properties. In this post, we will be looking at the second type of property investment plan, which is On-Plan Property. This would help you make an informed decision on which type to go for. 

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What Is An On-Plan Property? 

On-Plan Property can also be referred to as “already built” property. It is any property that has been completed and is ready for immediate use. Unlike off-plan properties where you can only see the finished design on paper or in pictures, On-Plan properties have already been completed with the finishes and designs put in place. 

This type of property plan is for investors who want to make immediate profit from their investment and it also has its pros and cons. 

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Pros and Cons of Buying an On-Plan Property

On-Plan property also has its advantages and disadvantages. Some of the pros of buying off-plan property include;

  • There are relatively minimal risks involved as what you see is what you get. With on-plan property, the property is already at its finished stage. 
  • You get to enjoy your profits immediately whether you intend to live in the property or to rent out for residential or commercial purposes. 
  • There is no problem of the company’s failure to deliver in due time as the property is already. 

 

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Cons of On-Plan Property Investment

  • You would be buying the property at a higher price compared to off-plan property. 
  • You would most likely have to make an all in one payment than when you’re buying off-plan property. 
  • You have little or no control over the design of the house as it’s already completed before purchase. 
  • More often than not, the best units or plots are usually taken by early investors who might be off-plan buyers.

 

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These different property plans exist to give investors the opportunity to choose which one works. Investors have to carefully consider all the factors and elements that would affect their investments in the long run. 

MKH Investment provides real estate investors multiple property investment options whether on-plan or off-plan. Our properties are strategically located to give you maximum profit. You can contact us by clicking here for more information. 

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