Off-Plan Investments: A Gamble or the Smartest Move You’ll Ever Make?

Tunde had always dreamt of owning property in Lagos, but every time he checked prices, they seemed to soar beyond his reach. One day, a friend introduced him to an off-plan development; a property still under construction but available for purchase at a lower price.

At first, Tunde was hesitant. “Why should I pay for something I can’t see yet?” he wondered. But after reviewing the developer’s track record, he took the plunge, securing a three-bedroom apartment in a promising new estate. The price? Significantly lower than completed properties in the same area.

Fast forward two years. The estate was fully developed, and his apartment’s value had nearly doubled. While others were now struggling to afford homes in the estate, Tunde smiled, he had locked in his price early and could sell at a profit or move in without the financial strain.

Off-plan investments are not without risks, of course. Delays, changes in design, or unreliable developers can be concerns. But with proper due diligence; verifying the developer, checking approvals, and reviewing the contract, investors can secure prime real estate at a fraction of its future cost.

So, is off-plan investment a gamble? Maybe. But for those who understand its potential, it might just be the smartest financial move they ever make. Would you take the risk?