Real estate and changeOluwakemi Adeyemo
A few years ago, I got concerned about a dear client’s business continuity (I can be that nosy because if my clients are in business, then I am also in profitable business as well). So I asked what plans were in place to diversify business because of some changes in the sector of that business. Gladly, plans and implementation were ongoing to manage and navigate the inevitable change in the sector.
There is the saying that “make hay while the sun shines”. I believe this saying is to encourage deliberate actions at the appropriate time. The sun is a constant and has a 24-hour cycle with a varying degree of intensity. Just as change is a constant, has a cycle and its impact is in varying degrees.
Countries of the world are currently going through changes. Sometimes the change is rapid and other times it is slow. The change directly impacts the economy either positively or negatively and immediately or after some time.
Dear reader, do you think the real estate business is changing?
Do you notice if there have been changes in real estate preferences in Nigeria and around the world?
Well, I have noticed a lot of changes just like I did some years ago when I first saw the co-working space concept on CNN. I discussed it with the organization where I worked back then. By the time it was implemented, it was too late to make a profit.
You see, there are cycles with every entity or idea. It is a fundamental law and only a few entities have exceptions to the law of changes or cycles.
Nigeria like every other country of the world is going through changes planned or unplanned for. The pre-colonial era, colonial era, post-colonial era, democracy, military era, Arab Spring, Brexit, US-China trade war, freedom or revolution era, etc.
In all of these changes irrespective of the cause, there will always also be some constants. A wise investor will not ignore these changes yet watch out for constants. I believe you are one wise investor who;
- Will not continue to invest the exact same way he or she has done before now.
- Will consider critically any investment and figure the cost before committing resources to it.
- Will consider what can and will change about that investment and how soon
- Will simulate possible changes and prepare ahead.
- Will be able to logically take on investment at the nick of time or know enough to back off or change strategy.
Real Estate investment has cycles just like every other kind of investment. The cycles come with changes. Again, there are cycles within a cycle which an investor must be aware of and work around.
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