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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Being a Telecom technician if am looking to rent a place, one of the first things I will check is the internet connection of that area, is that place a good coverage base from the base station, normally electricity isn't much of an issue here until now that SA is now subjected to load shedding.
I was reading your article with a drifting mind toward Benin, I intend to be working from home in the meantime when I arrive there, I hope I am not going to be seen as a fraudster for working from home like creating content on Hive, etc.
Over here in SA, working from home is becoming a norm, some are even preferring it over having to travel daily to work.
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Internet connection is widespread in most developed places here, unless you start going to rural or riverine areas, I tell you. Electricity is always a thing in Nigeria, because it's one of those ammenities we have that not totally accessible to everyone.
In Nigeria, when you work from home it's difficult to get a good place, because everyone wants to rent their house to a 9 to 5er, else you're perceived as a yahoo boy. Sincerely.
SA is already sophisticated, Nigeria is still playing catch up.
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I hope Nigeria catches up sooner, the country is too wealthy to be in such a state.
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I don't think it will, we're still busy voting in bad leaders, TBH.
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A good way to save money and improve your quality of life is to move out of the big cities. In many places you can pay 50-75% of your wages on rent alone.
Yeah, that's what I've done over the years, moving out of the bigger cities, I think I'll still keep doing that.
As of now living in a rented Home for studies and this place is quite fine though facilities like electricity, water, internet and other stuff is easily available that too not in any big city.
Just sometimes internet issue becomes a real trouble... I'll always prefer these qualities in any land or house at first. Less expenses
and ease to adjust in such environment.
Internet issues are no problem in Nigeria, unless in riverine or rural areas. I guess everyone wants the the right facility for less money..
Awesome!
I've been in rural area and it was much better there than city. Heh! Yeah, everyone wants but only few Gets it.
Our needs may be different, but one general principle I apply to everything is that the simpler it is, the better
Well, that's right, we have different needs. But we generally have principles that are collectively applicable. Thanks for coming through.
I think there's a tilt from living in the big cities to suburban areas or even farther out from the cities. From my perspective, these are usually the best places to live because they cover the basic amenities and more. That's one of my basic criterias. Less noise.
Yeah, I think the big cities gets too overcrowded and hence it begins to loose some of the basic qualities and facilities as well. Hahaha, less noise is good too, especially for people who work online
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I think it depends on the people's needs. If internet and electricity is required, there is no going around it and some of the rich people might also think that is what they need. In the US, we generally don't face much issues with this but there will always be areas where things are better maintained. So they are more expensive and people are willing to pay for those advantages.
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Well, I use to think internet and electricity are ammenities that should come with any property. In Nigeria, you'll have to pay to live in some certain areas to get this.
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Sorry for an off-topic comment.
There is a common problem I am facing to use leo interface,I cant use tags in my post normally.
#ctp, #finance, #pob, when I set such tags,posts are unable to be posted.
A preview pops up as, you havent shown any tags.
How to fix such problems?
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Click on the arrow on the right to add tags.
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Brother, the problem is much grave.
Tags arent saved and thats why the application asks for another try at setting tags.
I did it 15 times consecutively, it was the same result every time.
Anyway,thanks for your time and suggestion.
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When you add tags, click on the send it arrow button for it to save.
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Lo de una casa lo mas cerca de la playa es genial, ya que el ser humano necesita sus momentos de recreación que mejor lugar que la playa.
I always preferred the simple life. But even having a simple life comes with lots of opportunities and options to pick from, so a competition will always be out there no matter what you prefer
I prefer the simple opportunities too, but I guess there's always something we're willing to give off to achieve that.
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Saludos, siempre sueño con una casa de playa solo para ir a pintar y estar mis vacaciones, antes estaban a muy buen precio, hasta fui a ver varias para comprar, pero después de la inflación en nuestro pais todo aumento mucho, espero las cosas cambien para comprar una. gracias por tu post.
Housing is a bit more than just a place to put your head under. I remember hustling hard to find this house I stay in and checking fast.com to see how MTN works in the are...Jokes on us though, the network was good on just that day and has been manageable a majority of the time. We turned down a house because of Network...
My house mate who trades NFT has lost some transactions because of it too. We also got a bad deal for the light they provide in the area, we mostly use generators for everything
Living in the cities nowadays is so expensive but it also offer almost everything you need. But if I have to chose, I will chose to live in countryside.
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When it comes to the realm of property ownership or rental, it's not uncommon for individuals to experience unmet desires, wants, and needs, especially when their purchasing power is higher, leading to heightened expectations. This phenomenon is particularly pronounced in the bustling city of Lagos. Numerous factors, such as work commitments or family dynamics, significantly impact the decision-making process when it comes to choosing a place to reside.
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