A new window of opportunity has opened for prospective homeowners and investors as the property market received recently the Live, Earn and Transfer (LET) initiative that allows them to live or invest in mansions, villas or townhouses at upscale and secure environments.
Typically, this initiative gives a homeowner the opportunity to live in his home, be it a mansion, villa or townhouse, at most sought-after and secured locations such as South East and South West Ikoyi, Banana Island, Victoria Island, Lekki, Ikeja GRA, and Abuja.
Homeowners can, through this initiative, potentially earn annual rental income while living in their homes and watch their investments grow in value overtime. Thereafter, they transfer assets to their loved ones and family members as an inheritance and, by that action, have their wealth outlive them.
The initiative, which is coming from the stable of Cadwell Limited, is a never-done-before, everlasting architectural masterpieces of mansions, villas and townhouses which the company has categorised as ‘life-cycle assets’.
“We envisioned this initiative as a place for homeowners to ‘live, earn and transfer’ (LET). Typically, it completes the human life cycle but, uniquely, keeps the legacy going. In-so-far as life has become more fast-paced and competitive, we realise that people are busy and can barely keep track of their loaded work and family schedules let alone plan for the future.
“All these efforts are clearly geared towards the pursuit of one aspiration or the other, hence there is no other meaningful aspiration than to think wisely and buy into the ‘life-cycle LET’ concept”, explained Nekpen Emokpae, Cadwell’s head, concepts and marketing, in a statement in Lagos.
The new initiative is part of the outcomes of the company’s recent decision to reposition as an investment-led company in their belief in the infinite investment nature of real estate. They have decided to be the apostles of such message.
“We examined the market, identified the imbalance in demand and supply, and came up with this noble idea to correct the market’s unevenness which effectively made us reshape and rescope our product concept and design”, Emokpae added.
Globally, the first stage in the life cycle of a real estate buyer or investor occurs between the ages of 25 and 35. This is when young adults are coming into their own, getting married, starting families, and growing their businesses; it is no wonder, therefore, that this demography typically accounts for 30 to 40 percent of first-time home buyers globally.
It is usually at this point that most young professionals start to seriously prepare and plan for the future, they understand that there is a need to invest in a home, especially in a secured environment for their families to be happy and healthy. This is also the time they begin what Cadwell refers to as the “aspirational pursuit” of a new generation of primary and secondary homeowners.
“We intend to help this new and matured generation find the right path home, perhaps build castle of life-cycle assets that will enable them to finish well”, Emokpae assured.
Homeownership is fundamental to life and existence and the realization that a cold and hungry person has no desire to actively pursue self-actualization underpins its importance. Emokpae reasoned that understanding this basic concept was fundamental to knowing the key role real estate played in life.
“Developers or investors, tenants or homeowners, government or individuals, everybody engages in the business of real estate one way or another. While on earth, no one is fulfilled until he or she owns a piece of the earth”, she noted.
CHUKA UROKO
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