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Eko Atlantic: New Structures to Spring up Soon

For several years now, work has been going on with governments, companies and individuals buying landed property in the area known as Eko Atlantic, close to Victoria Island.

This area of land is expected to take shape in the next two years and the developers say that they are looking at making the area compete with United Arab Emirate. This means that it is going to be a giant in real estate investment in Africa. Already, some people are saying that Eko Atlantic will soon be the most expensive real estate area in the whole of Africa.

The promoters of the Eko Atlantic area are said to be Lebanese and the Syrian president, who visited the site sometime ago, said he is really impressed by what he saw.

Eko Atlantic will soon boast of duplexes, towers and apartments estates with high quality standards for the people who are able to afford it.

What You Should Know About Buying Mortgage Life Insurance

Before you buy a house, it is a good idea to look at all of the costs. The mortgage payment is the biggest one, but there are a number of other things that you need to consider as well. If you know everything that you will have to pay, it is much easier to make a budget that will really work.

First, you may want to think about buying mortgage life insurance. This is a policy that pays out if you pass away, paying off your home so that your family does not have to worry about it. This is not for everyone, as it adds a monthly bill, but it can give you peace of mind if you are the main breadwinner in the family.

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The Cost of Building a Home in Lekki

If you live in Lagos and you have a high taste for homes, you may have dreamed of perching in Lekki, just as many Lagosians have been dreaming. You have a wonderful opportunity to live among the brightest minds in the city if you live around Lekki, Victoria Island, or Ikoyi.

Lekki Peninsula lies very close to Ikoyi, Victoria Island, and Ibeju-Lekki area. If one is not very careful, it is easy to associate the northen parts of V.I to be Lekki. However, it is noted that Four Points Sheraton Hotels marks the boundary between Lekki and Victoria Island.

It is not very easy to determine how expensive it is to build a house in Lekki, as specifications differ and the area; which is sand-filled portends a lot of challenges to construction companies that must take careful measures, lest the newly built building be swept away with water.

Given a rough estimate, experts in the real estate industry revealed that it may require about N16 million to N20 million to finish a beautiful, well laid-out building on the Peninsula. Here below, you can find an estimate that suggests how much you can set aside for this project. Remember, these figures are not conclusive.

A Real Estate Expert's estimate of 2 Units of 5-Bedroom Flat

1. Average plot size 450sqm or 648 sq meter.

2. Raft foundation = 3 million.

3. Masonry work = 2.5 million.

4. Rooms: 11X11ft because of the sparse land since there has to be extra 14 ft free, (10 ft in the front for the parking space), the remaining at the backyard.
Decking and extra masonry = 5 million.

5. Roofing, furnishing, and utilities = 5 million.

This is a rough estimate. However, you can contact your engineering consultant to learn more and don't be shocked when the consultant seems to ring a different bell. prices and expertise differ from individual to individual.

It is hoped that this short bit of information on the cost of building a house in Lekki will guide you through your building project objectively.

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