Ogba on a N5million budget
With its quick
transport links to Ikeja (about 10 to 30 minutes depending on time of
day, Ogba can be considered ‘central’ and following from this, prices of
property are generally over the N5million limit. However, due to the
various Government and LSDPC estates in the location, there are some
flats which are on the market in this price range. One such estate is
the LSDPC Oluwole Community Estate where a two bedroom flat advertised
by Victor Okpera & Co for N4.5million. A typical Government flat,
the finishing is modest and the two bedrooms are of an average size with
a bathroom and toilet. This particular flat is on the ground floor of
the prototype 3 floor blocks and there are four clusters with three of
such blocks in each cluster. Oluwole Estate with its high density
environment sadly will have to accept the tag of barracks so it cannot
be recommended as a dream home. On the flip side with rents in the
N300,000 to N350,000 per annum range and the possibility of negotiating
the sale price to N4m (average price in the estate) the 7.5 to 8.75%
return is above average. No wonder, most owners there have let out their
properties.
sight…..but it is a good buy to let
budget property.
Yaba: minutes to Marina for N20million
The exotic
sounding new estates in Yaba: Silvercrest Park, Heliconia Court, Lavender Estate, Jacobs
Mews, Grace Court etc. also have exotic prices as they start from
N50million. The obvious infrastructural facilities of Yaba, whose main
roads have undergone a makeover and the proximity to the Marina via the
Third Mainland Bridge accounts for this pricing. That is why the advert
of Olasunkanmi Eyo & Co of N20million plots at Adebisi Street, near
Panti Police station is quite interesting. With the plots large enough
to build duplexes or block of flats, you can build your own Heliconia
Court or Lavender Estate. There are some questions about the level of
the water table in the area so some investigation should be done. Also
with the title document of receipt and survey, make sure you have a
lawyer in tow during the negotiations.
A mansion with a rooftop garden for N28million
A five bedroom mansion, master bedroom and guestrooms en-suite with
their own private balconies. That is not all you get in this Hollywood
sounding house. You also get a roof top garden that can comfortably seat
50 people for entertainment as well as a 2 bedroom bungalow with its
own separate entrance. Sadly, this property is not in Ikoyi or Victoria
Island but in Abisogun estate, Alafia. Alafia is located at Orile, just
before the bridge to Eric Moore, Surulere. City Solicitors admit that
the road to the house is not tarred but argue that it is motorable and
is a short distance from the main entrance to the estate. A certificate
of occupancy covers the property.
Friends Colony, Agungi N70m, normal Agungi N55m
What a difference a fence, gates, wide roads, covered drainage,
drinkable water, street lights and security makes. In fact the
difference can be computed to N15million. In Agungi, a suburb in the
Lekki axis, which like other unplanned estates like Osapa London, Idado
etc. the expectation is that the road will not be tarred, you will have
to provide your own security, borehole for water, PHCN poles to bring
electricity to your plot and join the neighbours to erect street gates
for security. Here 4 bedroom detached houses go for between N55million
and tops, N60million. In Friends Colony, an estate built by the same
developer of Northern Foreshore estate, the price starts from
N70million. According to Fematec International Limited, this is because
Friends Colony is not on the ‘omonile’ level!
So, make your pick, where do you want your own budget home?
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