6 Things You Should Know Before Investing In Ikorodu Real Estate

All over the globe, it has become stale news that investing in real estate is one of the best steps to take as an individual. The reason is that decades down the line, you can still make some good returns. A bungalow you bought for 2 million Naira, in most interior parts of Ikorodu, like Ijede for instance, may fetch a whopping 10 million naira in 5 years.  This is why savvy investors are putting all they have into acquiring real estate across Lagos, and Ikorodu isn’t an exception.
If you are considering owning a property in Ikorodu because you just yearn to, or a friend is telling you to, whatever it is that is the driving force, it is really important that you are armed with the right information.
Here are some facts you can use.

1. Ikorodu Is Vastly Populated
Ikorodu might be on the outskirt of Lagos compared to places like Ikeja, Ketu, or even Oshodi, but it is still packed with humans like almost every other part of the mega city.
Ikorodu is vastly populated, and it’s growing. There are plenty of people here!
So, whether you are investing in real estate because you want it to be your new home, or want to build a rental property, you should rest assured knowing that there are a good number of people who may find a need for your investment.

2. There are Times when Traffic Gets Heavy
Places like Egbeda, and Mile two, amongst others, are places famous for their problems of very heavy traffic at peak hours of the day. It might interest you to know that Ikorodu also has this problem. In fact, driving in Ikorodu can be so frustrating you might want to give up.
This is obtainable mostly in the mornings as workers rush to work and children go to school, and also in the evenings as residents return to their homes.

3. Roads Are Terrible In Both Seasons
As Nigerians, it is not strange at all to see bad and dilapidated roads. This is the case in some areas in Ikorodu. The rainy season and the dry seasons are both culprits of discomfort. The Odoguyan bus stop road for instance in Ikorodu can be so bad during the rainy seasons that you might want to boycott it.
The dry season isn’t an exception of discomfort too, as the bad roads get dusty with every vehicle that passes leaving a swirl of dust behind.

4. Rent Is Relatively Cheap In Ikorodu
If you are looking to own a house for rent in Ikorodu, it is important that you know you might not be making a fortune from it just yet. This is because when it comes to the issue of rents, some people may not want to pay a premium for an apartment the way people in the main Lagos Towns do. This may be attributed to the economy; so care has to be taken in knowing how much you want to invest in your house so you won’t be disappointed with how much it makes.

5. There Is a Constant Power Supply In Nearly Every Part of Ikorodu
If there is anything the people in Ikorodu can boast of, it is the fact that there is a nearly constant power supply. When compared to what holds sway in places in Lagos Mainland – like Yaba, Gbagada, and Ojota, amongst others, Ikorodu ranks higher in terms of power supply. As such if the idea of using your generators minimally sounds good to you, you may want to intensify plans to own a property in Ikorodu.

6. Housing Development Is Taking Over Ikorodu
There is a scramble for real estate in Ikorodu, as people who already have properties do not mind acquiring more. This is because to a good extent the town is developed. Amongst suburbs like Mowe, Agabara, and most interior parts of Akute, some people prefer to own properties in Ikorodu.
If you are operating on a shoestring budget, and are looking for a place where you can get pocket-friendly land, then you may want to look within Ikorodu. More and more people are acquiring lands there. It might interest you to know that for as little as 250,000 you can get a half plot of land in places like Igbogbo, Ijede, Ogijo, and Eruwen, amongst other places today.

NOTE: This however might not be the case tomorrow.