Real Estate, Money & The Compromise Of Choice
Realtime is one of the channels I enjoy watching on DSTV, and that's because it shows one of the most exciting programs by my standard, island life. You see, island life is a real estate-esque reality program where people relocate from the big cities in the US to settle for cities with water views, sea life, a calmer neighborhood, great temperature, and stunning atmospheric conditions.
The idea is to buy a condo or own a house closer to the beach. One thing I noticed is that housing is one of the most important things in life. In the modern age, we are in, people do not live in houses anymore for shelter alone, they do so because of comfort, resale value, grandeur, sophistication, and most importantly for investment purposes.
Housing & Advancement
Irrespective of how we experience advancement, housing is one of those human needs that will never go away. It might become more sophisticated and better, but provided people are going to exist, the need to own landed properties would increase, and places that hold industrial value would only increase in price.
As the day goes by, people require facilities as one of those requirements that are necessary for costing a property. In Nigeria for example, More tech people are on the rise. In Nigeria alone, the rate of people who are not into UI/UX programming is on the rise. These people need a decent level of electricity to thrive.
Requirements For different Jobbers
Surprisingly some people who are not 9 to 5ers, are the people who can comfortably pay rent in some sophisticated places in Nigeria, but realtors in Nigeria do not even know. A realtor in Nigeria would mostly give a 2-bedroom apartment, to a person earning 100k Naira in a month, Rather than a tech person who earns over 500$ in three weeks, do the maths, now if you're a bit confused, it's because realtors in Nigeria are not aware of the trends in change.
This is why most of them, hardly understand why young people seem to prefer electricity as the most important facility when looking for accommodation, they simply feel that internet fraud is the only opportunity that the internet provides to make money.
Let's meander a little.,
......So a tech person who is looking to rent an apartment will have some major emphasis on electricity more than accessibility. This is because of the nature of their jobs. These people do not earn money passively, because they're looking to earn on every gig to pay recurrent bills, they'll need constant electricity.
The supply might determine the number of gigs they might be able to access and finish. Some people depend on the constant supply of raw materials and social facilities like electricity to earn their daily pay. So for people like this, their house is not just a home, it's also their business establishment, hence, they'll tilt towards facilities that will help them earn their active income.
Facilities That Are Inevitable
Now, some of the well-paying employment opportunities need electricity, for people who are 9 to 5ers, accessibility and a good road network is something very important. People who are business people would rather have accessibility, meanwhile, a real estate property that offers almost all of these in a well-established location, is always expensive,
because it's the cream de la creme of real estate and it seems to tick all the boxes when it comes to facilities, Sophistication, and features. So basically, the location of a real estate property is another thing. Some locations come with expectations because these places are standard by default.
They automatically carry good road network and accessibility as well as constant electricity. However, there's this sense of scarcity that comes with places like this. It happens because affordability is low, so Competition is among people who have enough resources to get these places.
At the end of the day, compromise and opportunity cost are the biggest aspect of owning or leasing a landed property especially if your budget is somehow capped. When it comes to real estate, people create a list of what they want in a certain budget.
The truth is most of the time, we settle for what's important and compromise on other things because of money
The biggest aspect is the decision-making
when it comes to the impact of the opportunity cost forgone. For example, it's always painful to forgo some of the features and facilities we want when choosing a house, just to have the Main things we desire the most.
Nobody gets what they completely want when owning or renting a property because the higher the purchasing power, the bigger the expectations, desires, wants, and needs. In Lagos, this is very rampant. Making decisions regarding where we want to live is mostly influenced by work or family.
So far, I've come to understand that not everyone's decisions when it comes to renting or owning a house will make sense to another person
We need to be very distinctive, thorough, and careful because when we spend money wrongly on things as life-impacting as housing, it makes brings some monetary discomfort, depending on one's financial capacity.
Interested in some more of my works?
Reviewing A $400 Samsung Galaxy A72 (photos Included)
Hive's Scalability & The Compromise Of Commitments
Money: The Consequences Of Making The Right & Wrong Decisions
The Nigerian Economy: Monopolizing Incompetence
The Experiential Process of Understanding Money
A Case Of Theft On Hive: Here's Why Some People Choose Scam.
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