Amazing Property

If you’re thinking about moving, there are a lot of factors to consider aside from the house itself. Homeowners associations are one example. Living in a community with a homeowners association can have its benefits but also its downsides. It’s important to be well-aware of the implications of living in a community with a homeowners association before you make an offer on a house. The Basics: What Is An HOA? An HOA is a governing body in a community, and you’ll often find they’re present in gated neighborhoods, planned communities, and apartment and condo buildings. An HOA is funded and operated by residents, and there’s a board of directors. HOAs have meetings, create budgets, and are responsible for enforcing regulations and rules. The rules set by an HOA are legally enforceable. A well-run HOA can improve property values because they work to make sure the community maintains a certain standard as far as how homes and lawns look. Poorly run HOA...

The bad spot at Joju, Sango Ota road in Ogun State These times are not really the best for professionals and housing market in Sango Ota, gateway to Ogun State, as the once vibrant town has seen property values decline by over 60 per cent due to the deplorable state of roads in the area. The development has impacted negatively on rapid economic development, housing growth and land prices. For instance, rents have dropped significantly by over 50 per cent while vacancy rate has continued to rise. The Guardian gathered that Sango Ota corridor, especially along the Lagos – Abeokuta expressway had been in a sorry state over two-years with residents and travellers having a bitter experience, especially during rainy season. The roads are riddled with potholes while motorists spend longer hours to navigate the axis and oftentimes at the mercy of miscreants, who take advantage of the dilapidated infrastructure to exploit road users. The bad condition of roads have also contribute...

Aerial view of Abuja, Federal Capital Territory. • Demand sustainability, transparency in new process Following the Federal Executive Council (FEC) approval for the resumption of the Federal Capital Development Authority (FCDA) land swap initiative, property developers and government officials are divided over prospects of the scheme. While some property developers believe that years of suspension have cast a doubt on the programme and devaluation of the naira will escalate cost of infrastructure, others say a new start will boast housing delivery and attract foreign investors. The initiative worth about N1 trillion initiated under Senator Bala Mohammed-led administration was specifically designed to remedy the infrastructure deficit in the federal capital through swapping land with private investors, who would in turn provide the necessary infrastructure. Under the scheme, Greenfield lands are granted to real estate developers who would provide infrastructure such as, ro...

Homeowners See Nearly 20% Equity Jump in a Year | Realtor Magazine Internet Explorer does not currently support REALTOR® Magazine search. IE users, please download Firefox, Chrome, or Edge. Existing homeowners may be feeling richer since they've received a notable boost to their home equity over the last year. Homeowners with a mortgage have seen their equity climb nearly 20% year over year, according to a new report from CoreLogic, a real estate research firm. In the first quarter of 2021, the average homeowner gained about $33,400 in equity over the past year, the study shows. Idaho, California, and Washington saw the largest equity gains at $70,900, $69,600, and $65,800, respectively. “Homeowner equity has more than doubled over the past decade and become a crucial buffer for many weathering the challenges of the pandemic,” says Frank Martell, president and CEO of CoreLogic. “These gains have become an important financia...

Has getting a loan changed since the start of 2020? Here’s what you need to know about getting finance in order to buy your first home in 2021. For all of us, 2020 threw up plenty of unexpected challenges. For those trying to buy a home, there were likely even more. However, going through the home loan process is now easier than ever and if you’re looking to buy in 2021, here’s what you need to know. You’ll need to be prepared Whether you think you’re ready to buy immediately or it’s something you’re working towards, start researching and seriously considering your options now. Have a conversation with your bank and find out what you need to get organised. Know what you need and start doing your research even if you think you’re not quite ready to buy. Picture: Pexels “Do your homework on properties before buying and speak with a lender,” NAB Mobile Home Loan Specialist, Belinda McGovern tells realestate.com.au. “Look at ...

PHOTO: GEP As inflation continues to spiral, major building materials markets in some parts of the country have witnessed a surge in prices, leaving many private developers jittery over maximising profits on housing projects. Manufacturers are passing on the rapidly rising cost of raw materials to their customers, adding to concerns that inflation, which increased by 18.76 per cent in March from the previous 17.92 per cent recorded in February 2021 may put further pressure on the economy. The increasing cost has also put the hope of becoming potential homeowners by Nigerians in limbo. About 60 per cent of the total cost of building construction goes to materials while the remaining 40 per cent is spent on labour. Prices of essential building components like sand, blocks, roofing sheets, tiles; paints and wood have witnessed an increase in prices by over 15 per cent in the past one month in cities across the country. Most of the developers still rely on imported materials. Last...

The Lagos HOMS launched by the state government under the scheme This insinuation far from the truth, says official Mrs Titi Akinlowo’s dream was to have a roof over her head and become a property owner in Lagos; eight years after, her hope seems dashed. To actualise that vision, she had visited the Lagos State Mortgage Board (LSMB) to subscribe for the Home Ownership Mortgage Scheme (Lagos HOMS), a government initiative created to encourage and support home ownership of First-Time Buyer (FTB) residents to purchase decent and affordable homes. Then, several projects were on the card, her interest was on Ogba housing scheme, which was at the foundation level. Surprisingly, she was told the project was over subscribed. When all efforts failed, Akinlowo also made attempt to buy into Igando scheme, named after the first civilian governor of the state, Alhaji Lateef Kayode Jakande Gardens, comprising 492-flat commissioned recently. But her move again didn’t yield any fru...