Thursday, November 19, 2009
Disadvantages of having trees in your house.
Why that Tree in your house is Dangerous!
Although trees are generally a desirable feature of home landscaping, however they can pose a threat to buildings and homeowners in a number of ways.
Although trees are generally a desirable feature of home landscaping, however they can pose a threat to buildings and homeowners in a number of ways. In this special piece we explain to you possible dangers a tree can cause to your building and household members…
One of the major parts of the house that trees have been found to be a dreadful threat to is the foundation. Though has now been generally accepted by building experts that tree roots cannot normally pierce through a building's foundation, they can, however, damage a foundation in several other ways. Firstly, tree roots can sometimes penetrate a building's foundation through pre-existing cracks, while large root systems that extend beneath a house can cause foundation uplift. They can also leech water from the soil beneath foundations, causing the structures to settle and sink unevenly.
Also, leaves and broken branches of trees can block gutters, potentially causing flooding within the house area which can in the end all water to penetrate the building. Apart from that old, damaged or otherwise weak trees may fall and endanger lives and property. Large, weak branches, too, are a hazard, especially if weighed wind storms.
Another potential destructive effect of trees is that roots can potentially penetrate underground drainage pipes, especially when they leak. Water that leaks from a drainage or sanitary pipe can encourage root growth in the direction of the leak, where the roots may eventually enter the pipe and obstruct its flow. A number of house plumbing defects have been traced to tree roots by experts.
It is important that home owners know that trees may be used by insects and other dangerous animals to gain access to the building. In terms of insects and flies, soldier ants and mosquitoes are the ones that easily find tree tops and leaves habitable. To home owners both constitute a health hazard. In the case of rodents and other dangerous animals, Snakes and Bats are known to find tree tops handy to live on. They may in the end gain access to the house and constitute a potential danger to the entire household.
Apart from that, falling trees and branches can topple power and communication lines in the house in which case you may then have to spend huge amounts of money repairing the damage as a house owner. For falling power lines, they can lead to electrocution of unsuspecting home owner especially if it has to do with windstorm from over-night rainfall.
Trees with structural defects likely to cause failure to all or part of a tree can damage your building and nearby buildings. It is important to be able to identify defects in trees around your house to prevent such disasters. The following are indications that a tree has a structural defect: dead twigs, dead branches, or small, off-colour leaves; species-specific defects.
Also, cankers, which are localized areas on branches or stems of a tree where the back is sunken or missing is an indication of a defect. Cankers are caused by wounding or disease common with trees. The presence of a canker increases the chance that the stem will break near the canker. A tree with a canker that encompasses more than half of the tree's circumference may be hazardous even if the exposed wood appears healthy.
Another kind of defect with trees that can pose grave danger to home owners is what is known as advanced decay (wood that is soft, punchy or crumbly, or a cavity where the wood is missing) can create a serious hazard. Evidence of fungal activity, such as mushrooms, conks and brackets growing on root flares, stems or branches are indications of advanced decay. A tree usually decays from the inside out, eventually forming a cavity, but sound wood is also added to the outside of the tree as it grows. Trees with sound outer wood shells may be relatively safe, but this depends on the ratio of sound-to-decayed wood, and other defects that might present.
When a tree leans at more than 15 degrees from vertical it is potential dangerous. Generally, trees bent to this degree should be removed before they cause a major disaster. Trees that have grown in a leaning orientation are not as hazardous as trees that were originally straight but subsequently developed a lean due to wind or root damage. Large trees that have tipped in intense winds seldom recover. The general growth-form of the tree and any uplifted soil on the side of the tree opposite the lean provide clues as to when the lean developed.
Useful Tips in Keeping safe Trees
Source
When planting trees, they should be kept far from the house. It is impossible for the homeowner to reliably predict how far the roots will spread, and trees that are too close to a building may be a fire hazard.
Do not damage roots. In addition to providing nutrition for the tree roots anchor the tree to the ground. Trees with damaged roots are more likely to lean and topple than trees with healthy roots. Vehicles are capable of damaging a tree's root system.
Dead trees within the range of a house should be removed. If they are not removed, the small twigs will fall first, followed by the larger branches, and eventually the trunk. This process can take several years.
Inspect your trees periodically for hazards, especially in large, old trees. Every tree likely to have a problem should be inspected from bottom to top. Look for signs of decay and continue up the trunk toward the crown, noting anything that might indicate a potential hazard.
Binoculars are helpful for examining the higher portions of tall trees for damage.
Avoid getting Cheated by your Builder.
Let me Show you How.
Although trees are generally a desirable feature of home landscaping, however they can pose a threat to buildings and homeowners in a number of ways.
Although trees are generally a desirable feature of home landscaping, however they can pose a threat to buildings and homeowners in a number of ways. In this special piece we explain to you possible dangers a tree can cause to your building and household members…
One of the major parts of the house that trees have been found to be a dreadful threat to is the foundation. Though has now been generally accepted by building experts that tree roots cannot normally pierce through a building's foundation, they can, however, damage a foundation in several other ways. Firstly, tree roots can sometimes penetrate a building's foundation through pre-existing cracks, while large root systems that extend beneath a house can cause foundation uplift. They can also leech water from the soil beneath foundations, causing the structures to settle and sink unevenly.
Also, leaves and broken branches of trees can block gutters, potentially causing flooding within the house area which can in the end all water to penetrate the building. Apart from that old, damaged or otherwise weak trees may fall and endanger lives and property. Large, weak branches, too, are a hazard, especially if weighed wind storms.
Another potential destructive effect of trees is that roots can potentially penetrate underground drainage pipes, especially when they leak. Water that leaks from a drainage or sanitary pipe can encourage root growth in the direction of the leak, where the roots may eventually enter the pipe and obstruct its flow. A number of house plumbing defects have been traced to tree roots by experts.
It is important that home owners know that trees may be used by insects and other dangerous animals to gain access to the building. In terms of insects and flies, soldier ants and mosquitoes are the ones that easily find tree tops and leaves habitable. To home owners both constitute a health hazard. In the case of rodents and other dangerous animals, Snakes and Bats are known to find tree tops handy to live on. They may in the end gain access to the house and constitute a potential danger to the entire household.
Apart from that, falling trees and branches can topple power and communication lines in the house in which case you may then have to spend huge amounts of money repairing the damage as a house owner. For falling power lines, they can lead to electrocution of unsuspecting home owner especially if it has to do with windstorm from over-night rainfall.
Trees with structural defects likely to cause failure to all or part of a tree can damage your building and nearby buildings. It is important to be able to identify defects in trees around your house to prevent such disasters. The following are indications that a tree has a structural defect: dead twigs, dead branches, or small, off-colour leaves; species-specific defects.
Also, cankers, which are localized areas on branches or stems of a tree where the back is sunken or missing is an indication of a defect. Cankers are caused by wounding or disease common with trees. The presence of a canker increases the chance that the stem will break near the canker. A tree with a canker that encompasses more than half of the tree's circumference may be hazardous even if the exposed wood appears healthy.
Another kind of defect with trees that can pose grave danger to home owners is what is known as advanced decay (wood that is soft, punchy or crumbly, or a cavity where the wood is missing) can create a serious hazard. Evidence of fungal activity, such as mushrooms, conks and brackets growing on root flares, stems or branches are indications of advanced decay. A tree usually decays from the inside out, eventually forming a cavity, but sound wood is also added to the outside of the tree as it grows. Trees with sound outer wood shells may be relatively safe, but this depends on the ratio of sound-to-decayed wood, and other defects that might present.
When a tree leans at more than 15 degrees from vertical it is potential dangerous. Generally, trees bent to this degree should be removed before they cause a major disaster. Trees that have grown in a leaning orientation are not as hazardous as trees that were originally straight but subsequently developed a lean due to wind or root damage. Large trees that have tipped in intense winds seldom recover. The general growth-form of the tree and any uplifted soil on the side of the tree opposite the lean provide clues as to when the lean developed.
Useful Tips in Keeping safe Trees
Source
When planting trees, they should be kept far from the house. It is impossible for the homeowner to reliably predict how far the roots will spread, and trees that are too close to a building may be a fire hazard.
Do not damage roots. In addition to providing nutrition for the tree roots anchor the tree to the ground. Trees with damaged roots are more likely to lean and topple than trees with healthy roots. Vehicles are capable of damaging a tree's root system.
Dead trees within the range of a house should be removed. If they are not removed, the small twigs will fall first, followed by the larger branches, and eventually the trunk. This process can take several years.
Inspect your trees periodically for hazards, especially in large, old trees. Every tree likely to have a problem should be inspected from bottom to top. Look for signs of decay and continue up the trunk toward the crown, noting anything that might indicate a potential hazard.
Binoculars are helpful for examining the higher portions of tall trees for damage.
Areas in Lagos to develop and what to develop to get outstanding rental returns!
Though getting a suitable location is one of the keys to achieving success in any real estate investment; it does not however take away the fact that getting it right in terms of the kind of development to put on your land is also as important.
Though getting a suitable location is one of the keys to achieving success in any real estate investment; it does not however take away the fact that getting it right in terms of the kind of development to put on your land is also as important. In this special piece we bring to you some of the suggestions on what you should build to get the best returns on your investment in selected parts of Lagos…
Victoria Island
Victoria Island is one of the locations of Lagos yielding the highest rental returns on real estate; however, one of the very important factors that must be put into consideration before developing what could be considered a profitable property in Victoria Island apart from price trend is the issue of Planning Regulations and Permits. The Lagos State Government’s determination to ensure compliance to its planning laws has made it important for real estate investors to keep themselves abreast of existing planning laws. Today, there are parts of Victoria Island zoned a high-density, medium -density and low-density areas. In the high density areas, properties are allowed to go as high as 10 to 15 floors, while in the medium density areas, properties are allowed to go only as high as 6 floors and 2 floors for the low density areas. While properties in the high density areas have the opportunity of having more units of accommodations, the medium and low density areas are in a way restricted. Some of the high density areas include: Ajose Adeogun, Sanusi Fafunwa and Adeola Odeku to mention a few, while the medium density areas have Luis Solomon, Anifowoshe and Kofo Abayomi and environs. The low density areas are Off Ologun Agbaje, Bishop Oluwole, Oju Olobun, Idejo and Danmole to mention a few.
Based on current market trends, it is advisable that an investor looks more at the high-density areas of Victoria Island for developments that will give the best rental return. Apart from the opportunity of being able to add more units to the proposed development, commercial properties are believed to be the ‘blue-chip’ properties in Victoria and it is only in these high-density areas that they could be profitably developed. It is suggested therefore that a 10 to 15 floors block of open plan office accommodation is the best type of property for this area. To start with, the minimum size of land that would be required is between 1,500sqm to 2,000sqm. Going by current price trend, such a plot of land would be selling for between N400million to N500million.
The development must however be planned in a way that the ground floor would be a basement to be used for parking space and to create more room for parking the first and second floor could also be dedicated for that purpose. The Lagos State Government when giving approvals for high-density commercial development is always keen on developers providing adequate space for parking of cars. Though the design of open plan offices varies, but an average open plan office space with basic utilities like stand-by generator, sewage treatment plant and lift would cost an average of N500million to N600million to develop. For the cost of land and development an average of N1billion could be budgeted with another 2% to 3% of the cost of construction reserved for getting permits and all necessary papers from the government.
The rental income projection after the property has been developed is between N40, 000 to N50, 000 per sqm. It could even be more as recent price trend indicates that some open office accommodations in parts of Victoria Island now goes for between N70,000 to N80,000 per sqm, especially if the property is well maintained and all necessary facilities put in place.
Old Ikoyi
Old Ikoyi is another outstanding location when it comes to the issue of rental returns on properties. It is exhilarating to note that an average flat apartment in Old Ikoyi now goes for between $100,000 to $150,000; the highest any property investor could possibly get anywhere in Nigeria. From the foregoing and based on the current market trend, it is advisable to build a block of luxury flats or town houses in this area. The demand for this type of accommodation in this area according to estate agents who spoke to Castles is now very high. To be able to develop an average of 40 to 50 units of luxury flat accommodation on two blocks in the area, at least a 3,000sqm to 4,000sqm plot of land is recommended. The budget for the plot of land alone should be put to between N800million and N1billion.
The development should however be top-notch in terms of quality of design and finishings. Kitchen must be fitted and entire apartments fully furnished. This is important because of the number of competitors in the market. The better the finishings and conveniences in the building the higher the chances of being able to quickly sell them off of rent the apartments out. For the development of the building, an average of N1billion should be set aside.
Though as ealier mentioned, an average luxury flat apartment in Old Ikoyi now rents for as high as $100,000, to be able to swiftly let-out the apartments and make swift returns it is advisable that the developer comes down to $70,000 to $80,000 per annum. For 50 apartments that is an average of $3.5million to $4million dollars (N576million to N600million) rental returns just in one year if all the apartments were successfully let-out. One other strategy that could be used by the developer to edge-out competitors is to sign longer lease agreements with potential tenants but collect the rent on a yearly basis. No matter the situation, what it means is that in less than 5years, the investor would have been able to recoup his investments.
Lekki Phase 1
With Lekki Phase 1 proximity to Victoria Island, the new bridge linking Ikoyi and the proposed expansion of the Lekki Epe expressway all by the Lagos State Government, Lekki Phase 1 remains an attractive location for would-be Islanders. Like all other Government Schemes the Certificate of Occupancy to plots of land in different parts of the estate spells out the kind of use of development that would be permitted. However, there are parts of Lekki Phase 1 that are purely residential, while there are other places known as commercial zones as well as others for mixed development. As an investor/developer it is important to get acquainted with government’s development regulations of the area.
Because of unclear investment prospects for commercial property developments in the estate, it is advisable that an investor looks more into residential development. However, based on current trends in terms of rental demands and yields, block of luxury flats apartment is suggested. Lekki Phase 1 is largely planned by government as a low-density neighbourhood with development approvals for only two housing units on a plot and a maximum of two floors; as a result a block of 4 or 6 flats is recommended. Though areas of the estate like Admiralty Way, developers are allowed to go as high as four floors.
A plot of land measuring an average of 1,000sqm to 1,200sqm is recommended for this type of development in the estate. It will cost between N80million to N110million going by current prices within the estate. The nature of the soil of Lekki Phase 1 requires the foundation to be either raft or pile, and so the cost of developing the property should be put at an average of N80million to N100million.
In terms of rental yield, a 3bedroom apartment in Lekki Phase 1 currently rents for between N3million to N3.5milion depending on the level of finishings, and so the developer would have been able to make the sum of between N12million and N18million in a year if all the apartments were let-out. The collective rental yield of flat apartments shows clearly why it is better to build a block of flats rather than a detached house in Lekki Phase 1 except for owner occupier reasons. If a block of flour flats built on the same plot of land in Lekki Phase 1 yields N12million, a detached house would only yield a maximum of N6million to N8million no matter the quality of finishings.
Ajah-Ibeju Lekki
The Ajah-Ibeju Lekki axis has also seen appreciable levels of development over the last decade. However, one of the major hindrances to the development of the area is the horrendous traffic situation along the Lekki Epe expressway which has made accessing that part of the Peninsula a difficult task. With the ongoing expansion of the Lekki Epe expressway, real estate pundits still believe that the area holds a lot of promise for property investors.
Recommended for development in this area is also a block of flats, town houses or a twin duplex. Currently a plot of land measuring 1,000sqm that could be used to develop a block of well finished flats sells for between N1million to N15million depending on the location. Moving further down Ibeju Lekki close to Epe, plots of land could be cheaper. It could be as low as N300, 000 to N500, 000.
The projected cost of developing a block of say 6flats because of the need to do a raft or pile foundation is put at between N30million to N60million depending on the location and the quality of finishings; the cost of land inclusive. On the issue of the rental yield, for areas like Osapa and Agungi, the rental projection for a decent 3bedroom flat apartment is put at N1million to N1.2million, while that of Ajah and areas like Sangotedo, Awoyaya and further down is put at N600, 000 to N700, 000 and N350, 000 to N500, 000 respectively.
Yaba/ Ebute Metta
Yaba and Ebute Metta are located on the Mainland, and have some the fastest access routes to the Island. The area is still seen largely as a Middle Class location by development experts based on the current trend of property prices. However, because the population of the Nigerian society that can be classified as middle class no more exist in a way, people that can be considered the low-middle income group now dominates the area.
Apart from some small parts of the area designated as Central Business Districts CBD, Yaba and Ebute Metta are still basically residential neighbourhoods. Because of the high demand for residential apartments in the area mostly for people on the budget class, a block of 2 and 3 bedroom flat apartments is recommended. Getting a suitable land to build for example a block of 6flats in the area may be difficult because most land available in this part of Lagos are not always big in size. However, if as a developer a plot of land measuring between 700sqm and 900sqm is gotten, it will still be good for such development in that area. The property could be a three storey building of 6 or 8 flats (2 and 3 bedrooms mixed).
Land prices in this area vary based on the location. For areas like Adekunle, Alagomeji and environ a plot of land measuring between 700sqm to 900sqm would sell for between N25million to N30million, while in areas like Akoka, Bariga and environ, a plot of land would sell for between N10million to N15million.The cost of developing a block of 6flats in this area is put at approximately N40million including the cost of land. Extra finishings to the apartments is also very important to give the developer an added advantage.
In terms of rental income on the property, a 3bedroom flat apartment in Yaba and Ebute Metta goes for between N700, 000 to N900, 000, while a 2bedroom flat apartment rents for between N400, 000 to N500, 000 depending on the level of finishings. The rental figures of properties inside Tajudeen Olanrewaju estate in the heart of Yaba where a town house apartment now goes for as high as N2million to N2.5million is already a high-opener for property investors in the axis. With stated rental figures, it is expected that a developer would be able to recoup his investment over a maximum period of 15years.
Surulere
Just like Yaba and Ebute Metta, Surulere is an area largely dominated by the middle and low income group. Its central location on the Mainland however makes a viable real estate location. Though parts of Surulere like Bode Thomas, Adeniran Ogunsanya, Ogunlana Drive and others have been commercialized, a larger percentage of the area still has residential uses.
The demand for residential properties in Surulere is still on the high side, when compared to the demand for commercial properties in this axis. Only a few business owners would go extra mile to get an office accommodation in Surulere. It must however be mentioned that properties off the commercialised sides of Surulere today command the highest values in the area. Residential properties off Bode Thomas, Adeniran Ogunsanya and Ogunlana Drive all have flat apartments going for between N900, 000 to N1.2million already.
Developing a block of flats is also suggested for this area because of the high market demand. In the alternative it could be town house apartments of two and three bedrooms. Though difficult to get because these areas have been fully developed, a property on 1,000sqm of land that could be redeveloped to build a block of six flats would sell for between N80million to N100million in the area. In less developed parts of Surulere like Kilo, Ijesha and its surrounding areas a plot of land redevelopable property on a plot of land measuring 1,000sqm would sell for between N25million to N30million. The cost of developing the property is put at between N60million to N80million. Rental yield on the property could be higher if it is well finished and so the developer must endeavour to do something above board.
Ikeja GRA
Just like most government schemes; by design Ikeja GRA is planned as a purely residential location. Over the years, the area has been heavily commercialised altering the initial plans of government for the area. Parts of Ikeja GRA that have been commercialised are Joel Ogunnaike, Isaac John and Sobo Arobiodun streets. On these streets are banks, eateries, offices and several commercial properties.
However, with the seriousness of the Lagos State Government to enforce compliance to planning and development regulations around Lagos and indeed the estate, it is advisable that a prospective investor develops a residential property in the estate to be on a safe side of the law. It is infact doubtful if the government would approve any development apart from residential property in the estate.
Based on current market demands, a luxury block of flats is also suggested. However, government does not permit more than two or three floors development within the estate. High-rise developments are not permitted within the estate as it is planned as a low density neighbourhood. A block of 4 or 6 nos. two and three bedroom flats is good enough. The apartments because of the high-brow location it is being located must be tastefully furnished to attract potential Ikeja GRA tenants, like the upper-middle class company executives.
A 1,000sqm plot of land would be suitable for this type of development. Going by current price index, a plot of land measuring approximately 1,000sqm in Ikeja GRA would sell for between N80million to N100million. The cost of developing the property is also put at between N50million to N60million depending on the level of finishings.
In terms of rental returns, a 3bedroom flat in Ikeja GRA currently rents for between N4million to N4.5million, while a 2bedroom flat apartment rent for between N2.5millio to N3million. What it means is that in less than 10years, the developer would have been able to recoup his investment based on rental yields of the property alone.
Opebi/ Allen Avenue
Opebi and Allen Avenue are currently two commercialised parts of Ikeja even though historical trends show that both areas used to be purely residential neighbourhoods in the 1970s and 1980s. Because of the highly commercially viable nature of the two areas, an open plan office space or shopping mall development is suggested in the area for possibilities of making swift returns on investment. However, off these two areas, current market movement indicates that residential properties command higher values in those areas.
In main Opebi and Allen Avenue a six floors open plan office apartment or shopping mall is recommended. Buildings in these parts of Ikeja are not permitted to exceed six floors because of nearness to the Airport. However, only recently have ten floors development being permitted in the area. The size of land required based on planning regulations of the government is a minimum of 1,000sqm. Regulations of government also require that the size of land for such commercial development must be big enough to create room for 2 cars parking space on average of 60sqm land size each.
A plot of land measuring 1,000sqm in Opebi or Allen Avenue presently sells for between N100million to N110million. Cost of developing such a property is put at between N50million to N60million. Rental returns on the property is put at N15, 000 to N20, 000 per sqm. With such rental figures it is presumed that within 15years a developer would have been able to recoup his investments.
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