LIVING IN IBADAN #NIGERIA – LAND & PROPERTY PRICES IN IBADAN (REAL ESTATE IN IBADAN)
- April 11, 2021
- Real Estate Business
Real estate in #Ibadan is the next thing. The land mass of the…
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.