Property Prices: what are the factors to consider?

Real estate is regarded as one of the most viable investment options in most parts of the world. The reason for this is that when you compare the ever-increasing global population, and the finite quantity of landed resources, investors who are prudent enough to acquire landed property at the right time are more than likely to sell at a higher price in the future demand will continue to outstrip supply. While this principle is simple enough, there are some circumstances under which the general trend may not apply. There are other factors at play in determining the level of value appreciation or depreciation that a piece of property may experience over time. Here are some factors that may affect property prices:

Demographics:

The age, cultural background, income level and marital status ofpeople that make up a particular location can change over the course of time. This change can make a location more or less desirable for potential inhabitants, hence affecting the value.

Infrastructure

The availability of infrastructure such as transportation systems, communication networks, drainage and electrical systems, as well as access to markets, recreational centers and business district can transform less desirable areas to prized locations.

Interest rates

Changes in interest rates can greatly influence the decision to purchase property. Mortgages enable potential property owners to secure their desired assets with manageable payment plans thus sharp changes in interest rates attached to mortgages can influence the decision to enter into such arrangements.

The Economy

Economic indicators can provide an insight to the health of the property sector in any country. Where there is high unemployment, low capacity to manufacture, and general inflation, there is bound to be a knock-on effect on the level of activity in the real estate sector.

Government Policies

Waivers, taxes and subsidies are some tools with which government regulates the property sector. Governments that make intentional efforts to boost demand for property can fast-track the growth of the real estate sector.

Conflict

The ability of potential property owners to secure their lives and property within a location is a critical factor in determining whether they would be likely to make a purchase. Civil, regional and political conflicts can significantly reduce demand for property within affected areas.

Technology

The Covid-19 pandemic has boosted the work-from-home culture. Experts believe that in future, more businesses will adapt to this system, and consequently, many highly coveted business districts will have vacant office spaces, as remote work becomes more common practice. In future, technology could become an increasing factor in every aspect of human existence, including real estate.

Climate Change

With the increasing effects of climate change, coupled with the rise of disasters such as floods, landslides, erosion, famine, deforestation and desertification, areas previously in high demand could lose their value or even cease to exist. It is virtually impossible to mitigate against all risks associated with acquiring property. However, an understanding of the trends as well as some inside information can provide a guide for real estate investment.

Creating A Home Office: A step by step guide

It’s 2022, and the world is still dealing with a pandemic. The Coronavirus-19 outbreak of late 2019 has proven to be one of the most significant events of the last century. It has affected us in ways that we never imagined; one of these is the rapid increase in remote working practices. Previously, the idea of working from home was viewed less favorably and the lack of physical presence was seen to be a hindrance to proper collaboration and bonding between working teams. However, in 2020, people all over the world were forced to find ways to be productive while holed up in their homes during quarantine. The unintended consequence of this is that working from home has become part of the norm in today’s work environment.

So how can one ensure peak productivity while working from their home? It’s all about creating a space that allows you to do your best work. Here are some tips to help you do just that:

Avoid working from your bed or couch

As tempting and “comfortable” as this may seem, it can cause harmful long-term effects such as insomnia, bad posture, heart disease, and weight gain.

Set it up

Get a desk and chair of the right type, light, and other things you need for work. Sit upright while working for maximum productivity.

Create a study room

If you are fortunate to have a room in your home that isn’t being put to good use, consider converting it (or a part of it) to your office away from the office.

Set a routine

Create specific periods for work. If people around you understand that you are busy within certain periods, they will be less likely to interrupt.

In the absence of a study room, create a workspace

Find a corner in your living room or bedroom where you are less likely to be disturbed. Make sure that it is clean, devoid of clutter, and properly ventilated with plenty of light.

Use ambient sounds

Research shows that ambient sounds improve productivity, creativity, concentration, and mood. However, if you work better in a completely quiet environment, feel free to do what works best for you.

Working from home provides a sense of flexibility that could in the end prove beneficial. It eliminates time and resources spent in commuting, provides the opportunity to spend valuable time with loved ones, and also separates one from potentially toxic working environments. However, there is a possibility of being out of touch with the outside world. People who work remotely for extended periods tend to find it difficult to return to physical office due to bad work habits formed during remote work. It is important to maintain healthy work ethics while navigating the new work-from-home culture, thrust onto us by the pandemic. Communication is key. Consciously ensure that you are reachable. Have a functional internet connection. Use tools like Zoom and Skype to keep face-to-face communication with your colleagues or customers going. And finally, step out once in a while and interact with the world in real-time. It will do you a world of good.

smart home, misa

Smart Homes: Luxury or Necessity?

The phenomenon known as the Internet of Things has allowed us to link our electronic devices to the internet and control their functions with mobile apps. This game-changing innovation has taken humanity further into the digital age and created many new possibilities for early adopters. But the trend is not without opposition. To many technophobes, Smart Home technology seems like an unnecessary expense. Smart technology need not be seen as something that negates this idea though; Smart Homes can save you money and provide many other benefits as follows:

For security

There is nothing more important than the safety of life and property. A Smart security system equipped with cameras, motion sensors, emergency locks, and alarms is a sure way to ward off intruders and keep an eye on the activities of domestic workers who have access to your home

Free time

Think about the time and energy expended carrying out mundane tasks. Smart technology will allow you to hand over some chores to an automated system, giving you the time and freedom to get actual work done or enjoy relaxation time with friends and loved ones. We all know how important rest and leisure time is to maintaining health and productivity

Cost-saving and energy efficiency

A home fitted with Smart lighting, a smart thermostat, and smart power outlets is a wise long-term investment. You will never have to worry about forgetting to switch off your appliances before leaving the house. It could also eliminate the risk of fire outbreaks.

Home time

It costs less to stay at home than to go out in search of entertainment. A cozy living environment fitted with Smart entertainment can be a cost-saving venture in the long run. Instead of regular trips to the cinema, sit back and enjoy a movie with a Smart television connected to a projector. It is also the perfect way to bring the family together regularly on a tight budget.

As technology improves, manufacturers will continue to find ways to innovate around previously existing products, including Smart Home technologies. The widespread availability of these products will cause prices to lower and make them more assessable to the populace. In time we will learn to embrace them to the point where it will be difficult to remember what life was without them. They will become necessities, not luxuries.

Making the best of being a Landlord

YOUR RIGHTS AND RESPONSIBILITIES

The accumulation and deployment of passive income has been identified as one of the means through which people build wealth; One sure way of achieving this is particularly investing in property for the purposes of leasing or renting out. This puts you in a position to receive periodic payments from an asset that will also appreciate in value. However, being a landlord has its own set of challenges which can cause problems if left unaddressed. The ability to tackle these challenges will depend on your knowledge or where you stand as a property owner, your rights and responsibilities, So, what are these rights and responsibilities?

RIGHTS

The right to own property in any part of the country subiect to the consent of the federal or state authority, as the case may be.

Right against compulsory acquisition of property by the government or another citizen for private use.

The right to compensation in the event of an acquisition of property for public use.

The rant to issue a notice to quit to a tenant

The right to issue a 7-day notice after a notice to quit has expired.

The right to enter a let property even though while it is occupied by a tenant.

The right to renew or not renew tenancy.

The right not to reimburse a tenant for repairs done while occupying the property.

The right to review rent at the expiration of an existing tenancy.

RESPOSNIBLITIES

The responsibility to not discriminate against potential tenants on the grounds of ethnicity, gender, race, religion and so on.

The duty to keep to the terms and conditions of the tenancy agreement.

The responsibility of keeping the property safe and secure.

The duty of ensuring that the property is vacant, safe, clean, and safe on the day that the tenant moves in.

The duty to make sure the property is free of health hazards of any type.

The duty to allow the tenant space and freedom to enjoy the property without frequent unnecessary visits.

The responsibility to insure the property.

The duty to pay taxes and any other fees that the tenant is not responsible for.

The duty to reimburse the tenants for any repairs they carried out on the structure meant to be carried out by the landlord

Working with agents

WHAT YOU NEED TO KNOW TO GET YOUR PREFERRED RESULTS

Why is there a sector identified as a real estate agency? Why do real estate agents exist, and why are they essential in real estate transactions? In reality, sealing a real estate deal is not as easy as it may seem. There are many steps, processes, and possibilities to consider before a deal is complete, and having a competent guide is a great idea if you are looking to avoid making mistakes that could cost you a fortune or a lawsuit.

WHAT DO AGENTS DO?

  1. Real estate agents act as intermediaries and negotiators between buyers and sellers.
  2. They provide realistic valuations of property based on the current trends.
  3. They can determine which properties will become more or less valuable over time.
  4. They find buyers that can offer more.
  5. They know the processes and regulatory policies.
  6. They take potential buyers on property tours.
  7. They understand real estate marketing and can vastly reduce the time it takes for you to find a buyer for your property.

Having established the need for agents, you must also consider ways that you can assist them in getting your preferred results. Here are some tips.

1. Verify. Ascertain your agent’s level of experience and aaexpertise before engaging their services. It is always aaadvisable to work with agents who are attached to aarespectable firms.

2. Co-operate. Open up on your needs and be open to receiving advice.

3. Be realistic. Don’t make your agent’s job more difficult aaby setting unrealistic targets or restrictions.
4. Control your emotions. Emotions can cloud judgment. aaAllow your agent to make informed decisions and aaprovide guidance on the eventual decision.

5. Be prepared to walk away. It can be disappointing aawhen a deal doesn’t pull through. You must be aawilling to take your agent’s advice if they are not aaconvinced that you are getting the best deal.

Self Care

In business, decisions are often made based on perception and trust. While the presentation is not the be-all and end-all of sealing a deal, it plays an important role in creating a strong first impression that earns you the respect of potential clients and business associates as soon as you step into a room.

Grooming and self-care are no longer optional for people seeking to make a good impression. Additionally, the grooming process can be incorporated into one’s daily routine in such a way that it becomes an enjoyable experience. It all depends on how and where this takes place. Having a bathroom that serves as a center for rejuvenation and self-care will give your grooming experience a massive

1. Renovate

Upgrade to a design that exudes class and luxury

2. Accessories

You would be amazed at the variety of useful items that you can find.

3. Lighting

A well-lit bathroom creates a refreshing ambience and facilitates proper grooming.

4. Scents

Air fresheners, scented candles, soaps, shampoos, and body washes provide a revitalizing aroma that starts you off nicely every day.

5. Sound

Stay in touch with the news or your favorite podcast or mood music as part of your bathroom routine.

Remodeling your bathroom provides the added benefit of enabling you to meet certain safety stan- dards. Water leakage through old and cracked tile surfaces can cause severe property damage and cause you to incur significant maintenance costs in the long run. Re-tiling, when necessary, can pre- vent this. Upgrades like slip-resistant floors could also help to prevent potential bathroom accidents. So, renovating your bathroom is not just a vanity project, but an investment. The sooner you hop on the trend, the better.

LandScaping

BOOSTING PROPERTY VALUE WITH A TOUCH OF COLOUR AND NATURE

Are you looking to renovate a piece of property for resale? This post might just put you in a position to boost your chances. Studies have shown a direct correlation between the presence of a well-managed landscape in a piece of property and its value compared to other properties of the same kind, in the same neighborhood; provided the greenery is not excessive. This provides a business case for why greenery should be considered essential in any plan to boost property value and reap profits.

Flipping a house can be a major task. In certain instances, it may require ripping it all apart and starting afresh, while other projects might only require minor adjustments like repainting or refinishing to match modern tastes. Whatever the case, if you want to take your re-modeling to another level, consider transforming it from a simple, functional piece of property to a masterpiece that creates a sense of wonder and nature, capturing the five senses and leaving prospective buyers with no option than to decide to purchase

While landscaping is generally associated with gardening, it is not limited to this. Landscaping also involves sodding, installation of retaining walls, driveway interlocking, and a host of other processes that can make an enormous difference in how your piece of property is perceived. For an added touch, flowers can provide an undeniable aesthetic value and a refreshing ambience. Landscaping could also refer to the interior, not just exterior so you can thrill your potential buyers with the reassuring feeling of being surrounded by green plants, coupled with the sweet smell of flowers, which fill up awkward spaces in the home, and serve as decorative items, literally bringing their immediate environment to life..

 

Buying your first home? Part 1

Albeit daunting, buying your first home is an exciting journey. Here are some tips to help you make the process a little less stressful and more profitable.

The costs ?

The very first thing you need to do is work out if owning is for you. Can you afford to pay not only the monthly mortgage payments or the instalment payments, but the running costs of a home too ? Do the sums!

Use the right property finders

Gone are the days when a stop at an agents office was the only way to see how much folks were advertising a house for.
There’s a plethora of property search sites out there for research, also remember that Some homes are sold before they appear on the sites, so get pally with a local estate agents to hear as soon as a place hits their books.

Consider resale potential

If you don’t want to live in the property until you die, consider ease of resale.
This may be your true dream home but will it be for others?
If the property has been on the market for quite while, mull over why it hasn’t been shifted. Are people put off by the location, parking or accesibility ?

Thinking of a new home?

As a result of working from home, we have focussed our minds on where and how we live, time has been taken to do renovations and DIY projects all across the country.
That said, it was also a time for any of us to deeply reflect and start to explore the possibility of new spaces, newer and modern living spaces.

New build properties come with the very best in energy efficiencies, quality build materials, and the peace of mind of well managed developments.
if you are looking to renovate your current home, don’t hesitate to get in touch, we’ve renovated over 50 units since lockdown, and can’t wait to see how we can transform your space.
For those who are looking to move entirely we’ve rounded up some of our best new homes located in some of the most sought after areas of Lagos.

Bayview Estate
Ikate Elegushi, Lekki

7 admiralty
Admiralty road, Lekki 1

Tamari
Osborne II, Ikoyi

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MISA Nigeria Limited is an integrated real estate and property development company specializing in the construction and delivery of high-quality bespoke housing. We also offer sales and lettings services, facility management and real estate advisory services (planning approvals, conveyancing and others).

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