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How to Determine the Highest and Best Use for Land

When it comes to land acquisition – one of the most important factors in getting this number reasonably accurate is to understand the “highest and best use” for a property. The question of a property's highest and best use is something all appraisers aim to address – and the issue is particularly relevant to appraisers and investors who are working with vacant land. When a vacant lot doesn't have any pre-existing improvements on it, there can be many potential uses for the property (depending on how the owner wants to use it, and what the local zoning regulations will allow), but even when there are several possibilities, there is only ONE highest and best use. Highest and best use is always the use that would produce the highest value for a property, regardless of its current use. The reasonably probable and legal use of vacant land or an improved property that is physically possible, appropriately supported, financially feasible, and that results in the h...
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Why Real Estate is The Safest Investment Option In Nigeria

It takes money to make money . Someone once told me to forget about building wealth if I wasn’t willing to take the risk of investing in long-term ventures. They are typically two types of investments: long-term investments and short-term investments. Each option comes with its benefits and the level of risk involved. Typically the economy you find yourself in determines the sort of business you should invest in. Nigeria, for instance, is an emerging, middle-income, mixed economy with rapidly expanding manufacturing, financial, service, communications, technology, entertainment and real-estate sectors. Although fairly stable, the Nigerian economy is immensely influenced by its political stability and transference of power. Each political tenor typically comes with new policies and in most cases hinders the furtherance of the past tenor’s developments. In a country that typically operates like this, investing in real estate is one of the few safe investment options that har...
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