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.

.
#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.

.
#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.

.
#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.

.
#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.

.
#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.

.
#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.

.
#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.

.
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.

source

Related posts

LIVING IN IBADAN #NIGERIA – LAND & PROPERTY PRICES IN IBADAN (REAL ESTATE IN IBADAN)



Hi guys,
Real estate in #Ibadan is the next thing. The land mass of the…

Read More

Investing in Real Estate In Nigeria in 2021: Build Your investment Portfolio With Land Banking



What do you know about land banking? Have you ever made a profit investing in Land?…

Read More

Inside this 6 Bedroom Duplex in an exclusive estate in Abuja, Nigeria



Contact Me: fcu.officialmailbox@gmail.com

#Nigeria

source

Read More

Join The Discussion

Search

June 2021

  • M
  • T
  • W
  • T
  • F
  • S
  • S
  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30

July 2021

  • M
  • T
  • W
  • T
  • F
  • S
  • S
  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
0 Adults
0 Children
Pets
Size
Price
Amenities
Facilities

Compare listings

Compare