Should I invest in an ongoing project or a completed property?
Both have their unique advantages, but understanding the differences can help you make a smarter choice—especially if your goal is to resell, rent, or use the property for Airbnb income.
1. Understanding Both Concepts
Ongoing Projects (Off-Plan Properties):
These are properties still under construction or in the developmental phase. Buyers invest before or during construction, often at a discounted rate. Developers typically offer flexible payment plans, making it attractive for investors with a mid- to long-term view.
Completed Properties:
These are fully built and ready-to-move-in properties. Buyers can inspect the physical structure, interior finishing, and surrounding environment before purchasing. It’s an option that provides immediate possession and usage.
2. Which is Safer to Buy?
Completed properties tend to offer higher security for cautious buyers. You can see what you’re paying for—no surprises about location, finishing, or project delays. It’s ideal for individuals who want peace of mind and immediate returns through rent or personal use.
However, ongoing projects can also be safe—if purchased from reputable developers with a proven track record. Conducting proper due diligence, checking land titles, and ensuring necessary government approvals are in place can make off-plan purchases just as secure.
3. Value and ROI Potential
When it comes to value appreciation, ongoing projects often deliver higher Return on Investment (ROI). Why? Because you’re buying below the market price. As construction progresses, the property’s value appreciates—sometimes by 20–50% before completion.
For example, an apartment bought at ₦60 million during construction could easily sell for ₦80 million upon completion, especially in high-demand locations like Lekki, Gbagada, or Abuja.
In contrast, completed properties appreciate at a slower rate because they’re already at peak market value. However, they offer immediate cash flow through rent or Airbnb, making them perfect for investors seeking short-term income.
4. Which Offers More Flexibility?
Ongoing projects offer payment flexibility—you can spread payments across 6, 12, or even 24 months. This makes real estate more accessible to younger investors or those with limited upfront capital.
Completed properties, on the other hand, require full payment almost immediately, which can be financially demanding but grants instant control and income potential.
5. For Resale, Rental, or Airbnb—Which Wins?
- Resale: Ongoing projects often yield the best resale profits when timed right—buy early, sell upon completion or shortly after.
- Rental: Completed properties are the clear winner—you can start earning rental income immediately.
- Airbnb: Again, completed properties dominate since they’re ready for furnishing and short-let use without waiting for construction to finish.
My advice: If your priority is immediate use, rental income, or Airbnb profit, go for completed properties. But if you’re playing the long game—aiming for higher appreciation, flexible payment, and stronger ROI—then ongoing projects are your best bet, provided you buy from a trusted and transparent developer.
In Nigeria’s fast-growing real estate market, both options are valuable. The safest and most profitable investment isn’t just about the stage of the property—it’s about who you buy from, where you buy, and how strategically you buy.