Finding your dream home can be overwhelming, but at the end, you’ll appreciate all the effort put together in making your dream come true. Moreover, many usually search online and on various platforms, seeking the “perfect luxury home” to invest in. But what exactly do you think makes a luxury home, anyway? Do you think it is the price, location, or even the type of building?

Let’s find out what defines a luxury home, how and where to acquire one, most especially in Lagos State.

What is a luxury home?

It’s difficult to give an exact definition of a luxury home that encases the air of affluence, because what you call a luxury home may actually not be a luxury home in another location or when defined by another person.

From a broad view, a luxury home can be said to be out of the ordinary; it signifies quality, extraordinary, unusual, classic, refinement and provides the best comfort one desires in a home. Just like beauty, luxury is said to be in the eyes of the beholder. In the world of real estate, it means the need for greater privacy, comfort, classy lifestyle, a good economic hub, excellent road network and security.

However, achieving your desired luxury home may involve lots of finance and good knowledge of real estate here in Nigeria.

What features define a luxury home?

1. Location and neighbourhood

Location is part of the main features that define luxury homes. For instance, in Lagos, most of the luxury homes are located in the major cities of the state, such as Ikoyi, Victoria Island, Lekki, Ajah, Ikeja, Magodo, among others. Meanwhile, the location of a luxury home has to be prime, pricey and aspiring in every area. Thus, in Lagos, the location of an estate or property also brings about differences in the pricing.

With such a luxurious neighborhood, it draws the attention of elites in the society to have their investment or home in such location. It also invites the attention of a few due to its price range. With this in place, luxury developers always target these prime locations to maintain the brand value.

2. High price definition

The luxury homes in Lagos are very expensive and only affordable by the moneyed class in the society. For example, a property in Banana Island can be selling for as high as N500 million and above; such is not affordable by everyone. In general, the lowest price one can pay for a luxury home begins with N50 million and increases from there. Hence, luxury home in Nigeria is for the haut monde in our society.

3. Lavish exquisite amenities

From the interior decorations to the outdoor setting are mostly incorporated with the most exquisite amenities. Luxury homes are designed with the best modern architectures, some lavish amenities like mini theaters, gym, playground for kids, walking tracks and others.

4. Quality

Luxury home speaks quality, from the high-end ultra-modern kitchens fully inbuilt with double ovens, heating drawers, etc., to the world-class sitting room settings, outdoor settings and many more. There are also smart home features such as a security system, curtains that can operate both on a smart thermostat and sunlight.

5. Premium privacy and best security system

Luxury home comes with high premium privacy and the best security system perfect for the owner’s safety. This is one of the great reasons why many elites in our society invest in a luxury home, most especially in Lagos.

Benefits of luxury home

1. Best security network available

The most important benefit of luxury homes in Lagos is the availability of great security. This is mostly available in the area or estate and even neighbourhood where the luxury home is located. This kind of security differs from the normal ones available in other areas. For instance, the kind of security available at Omole Phase 1 is quite different from the one available at Akiode in Ojodu, even though they’re in the same local government area. It’s quite a world-class form of security, making the area free from crimes such as kidnapping and theft. Most of their buildings include smart locks, CCTV camera and fire alarms to keep the place safe. They’ve also a perimeter fence and gatehouse for security check into the entrance of the luxury home.

2. Accessible roads

Many of the luxury homes in Lagos have a good road network, creating an easy flow of movement. Most of the streets are tarred or interlocked.

3. Good drainage system

This is one of the health benefits of luxury homes. They provide a well-structured drainage system for usage; thus reducing any form of environmental pollution, which helps protect residents from any health hazard and flooding.

4. Availability of both basic and social amenities

Most luxury homes in Lagos have a great availability of both basic and social amenities, such as electricity, bore-holes, indoor amenities like swimming pool for relaxation, sports facilities and recreation centres are available too.

5. Proximity for major development

The majority of our luxury homes are situated in good locations with major developments in Lagos.

Where to find luxury home in Lagos?

Here’s the list of major areas in Lagos where one can get a luxury home.

1. Ikoyi Axis: Ikoyi is one of the most affluent and popular areas in Lagos and main base for the extreme rich and upper-class residents in our society. It’s under Eti-Osa Local Government Area with most popular estates like Banana Island, Dolphin Estate, Foreshore Estate and Parkview Estate. Ikoyi is definitely not a place for every Tom, Dick and Harry. The area is exclusively for high net-worth individuals or investors.

Banana Island is ranked by Forbes as the most expensive area in the nation Nigeria. This is a main hub for high income earners and land prices range from N1 million and above per square metre. For renting, that’s N20 million for a 4-bedroom apartment yearly. The area is well landscaped providing good paved road, green space and all the major amenities and top recreation centres that comes with a luxury neighbourhood. It has major top occupants like Kola Abiola, Mike Adenuga, Oluremi Obasanjo, etc., and companies like Globacom, Forte Oil, MTN, among others.

Dolphin Estate is another highly respectable area in Ikoyi with an affordable area for middle-income earners. The average asking price for properties in Dolphin Estate goes for N90 million and the most costly house goes for N100 million.

2. Lekki Axis: This includes places such as Lekki Phase 1, Victoria Island, Victoria Garden City, Ajah, Sangotedo and parts of Ibeju Lekki. You can acquire your desired luxury home in this neighbourhood from Mobil Estate, Goshen Beach, Pinncok Beach, Ocean Bay, Mayfair gardens, Foreshore Estate, Friend’s Colony Estate, Lekki Garden Phase 4, Diamond Estate, and many others. In most of these estates 2-bedroom flat goes from N1 million to N4 million for rent; 3-bedroom flat from N3 million to N5 million for rent; 4-bedroom semi-detached sells for N50 million to N250 million. Landed property for N40,000 per square metre to N200,000 per square metre.

3. Ikeja (Mainland): Most luxury homes in mainland are found mainly at Ikeja GRA, Ogudu GRA, Omole Phase 1&2, Okupe Estate, Shonibare Estate, G-CAPPA Estate, Ismail Estate.

Omole Phase 1&2 are located at Berger axis in Ojodu LCDA. It has mostly top celebrities, politicians and wealthy Nigerians living in the area. A 5-bedroom duplex goes between N120 million and N300 million. A plot of land sells for N70m to 200m. In Shonibare Estate, a 4-bedroom duplex goes between the range of N200 million and N300 million. A 5-bedroom apartment house sells between N250 million and N300 million.

•Isong, a real estate consultant can be reached on: Dennis@Landproperty.ng or Whatsapp/Call +2348164741041.

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