A subsidiary of Wichtech Group with a wealth of experience in Residential, Commercial and Mixed-Use Developments. Wichtech Homes is focused on delivering optimum results while working with experienced architects, engineers and highly skilled units of all specialties.
We have completed Semi-detached houses, Off-plan/Ongoing Projects such as: Maisonettes, Flats, Penthouses and Terraces.
Lagos: Mojisola Onikoyi Ikoyi, Banana Island Ikoyi, Osborne Foreshore Ikoyi, Abuja: Maitama.
Factors such as the calibre of people, significant security and other premium facilities available creates desirability that creates very high demand in these locations.
Off-plan property refers to a property or development that is still in its construction or planning phases, and so hasn't been completed yet.
An off-plan property investment means purchasing a property before the actual construction is complete. It’s committing to an idea before seeing the final result.
One of the benefits of this type of property investment is the pre-construction or early construction sale price. Buyers get a low entry price which gives a very high probability of investment appreciation even before the project is ready for occupancy. Hence the most crucial part of an off-plan investment is getting a great location. In other words, purchase prices are significantly lower than the average while you can attain strong Capital Growth or even resell at a Profit before completion. Off-plan purchase also gives the opportunity to buy the property with convenient deposits and staged payments. Buying at early stage also gives the advantage to have an input into the central décor and general fittings. In some cases, there are specific upgrades offered free of charge to early buyers.
Identifying a location with the potential of being successful investment is paramount. It’s strongly advised for buy-to-let investors to consider the level of rental demand in that particular location as well.
We have a well-established reputation and good track-record that can be verified. In addition, we also work with experienced architects, engineers and highly skilled units of all specialties. We encourage our subscribers to check on their home or unit several times while it is under construction and give feedbacks.
As with any type of investment, there is an element of risk. However, you can mitigate the risk by purchasing in key locations (like ours) where demand will be there for the foreseeable future. In addition, we build with quality in mind while our projects are delivered with the best impression.
Most off-plan projects have what is known as long-stop date in the contract. This is the point at which the development should absolutely be finished. The long-stop date usually factors in some delays in case they appear (unforeseen circumstances). Anywhere from 6-12 months from the original completion date. If the development isn’t completed by the long-stop date (although has never been the case for us), then the developer is in breach of contract and investors can either choose to remain in the development with interest being paid on their deposited funds for the delayed period or an estimated rental value of the unit being paid to the investor for the delayed period.
Firstly, you inspect the project construction site while we provide copies of the land document and building plan approval to be verified by your legal team. A draft copy of the sales contract will also be made available before any financial commitment.
Although you can customize your unit but it’s likely going to be limited and at the discretion of the developer (chargeable to the investor depending on the type of changes to be made).