Life will always humble you, no matter what. There are times we feel we are right about many things, and in most cases, we are wrong—no matter how wise we think we are. You really can't bring back the old times—I mean, the hours already spent.
This time last year, I remember telling a friend of mine about a plot of land that was available for sale. Her response at the time was that she couldn’t buy land in a remote place, let alone build there. She was confident in her decision and even promised not to change her mind, even if the area eventually developed.
During that period, I brought her along with one of our friends when I was about to pay for two plots of land. As of that time last year, it was selling for ₦350,000 per plot. I can't remember the exchange rate to dollars back then.
I paid, and about two to three months later, I learned that land in that area was already selling for ₦500,000 per plot. That was in November last year, a profit of ₦150,000 in just three months. Early this year, the price increased again to ₦700,000 per plot. As I’m writing this, the cheapest plot of land in that area is now going for ₦1.2 million.
Today, that same friend visited with her husband and told me she needed half a plot. I had to let her know that she couldn’t get half a plot for less than ₦600,000. All of this happened in less than a year. That’s over a 300% increase in value. If I decide to sell the plots I bought, it would be a big plus for me. But I don't even have any intention of selling now since I’m using the land for farming and raising animals.
She kept lamenting, saying that if she had known, she would have listened to me and bought a plot. Well, maybe I was just lucky this time around because I’ve also heard stories of people who bought land and ended up regretting it.
In all, it's always better to do due diligence and proper findings before investing in any landed property. If it were a car, once you buy and take possession, that’s all. But land is not like that. You can buy land today and tomorrow. You might forget you ever did, because it can be seized or resold to someone else without your knowledge.