7 things To Avoid When Buying A Property in Nigeria

Everyone knows buying a property in Nigeria is very risky, but accommodation is a basic need, these are 7 things you should avoid whenever you’re buying a property.

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#1 – Never buy a property without verification
Ensure you verify before paying for a property, regardless of your relationship with who you’re buying from, this would avoid getting scammed and you buying government acquired lands in Nigeria.

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#2 – Never buy a property without collecting ownership documents

It’s a terrible idea to pay for a land or house and you don’t have any document to prove ownership has been transferred to you. These documents can be in form of Deed of Assignment, Survey etc.

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#3 – Don’t buy a property and then abandon it

Most Nigerians who buy land just leave it without developing it, some don’t even know the plot where their land is located. Never abandon a property, even if you plan to buy and keep, at least do a fencing and occasionally be clearing the land.

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#4 – Never buy cheap properties in Nigeria

Cheap doesn’t mean a property below N1m, cheap properties are those selling below the standard price of a location. If you buy a cheap property, it will come back to haunt you, because you will spend more than the amount you’re avoiding, that’s if you don’t even lose the property.

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#5 – Don’t buy a property you can’t conveniently afford

When you’re choosing a payment or installment plan to buy a house or land in Nigeria, avoid choosing beyond what you have right now, it’s not advisable to buy a property with a fund you’re expecting.

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#6 – Don’t buy a property without a clear purpose

Some Nigerians buy a property especially around Lekki and Ibeju-Lekki, because they have friends or relatives that bought there. Avoid buying a property because that’s where others are buying, instead have a clear purpose, either you plan to stay there or invest there.

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#7 – Avoid buying a property in Nigeria without involving a professional
At least try to involve one of either a property consultant or lawyer, you can involve both too, these professionals would help you avoid legal loopholes and get the best for you based on your budget.

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So, have you bought a property already or you’re searching to buy a place in Nigeria, ensure you’re avoiding the 7 things mentioned above, and also consult us for further assistance.

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