Buying land in Nigeria especially in Lagos can be a very difficult decision to make.
As a Real Estate Consultant in Lagos, who has helped a lot of people buy and sell their land here in Lagos. I have come to really understand that before buying Land that there are some things you need to carefully consider.
Location is the number one thing to consider when buying land in Nigeria. This is the foundation to other things you need to check.
The location will determine what value the land will be in the future because a land in a developed area will cost more than a land in developing area.
Another reason to consider location when buying land, is that you need to consider if the location of the land is fast attracting development.
why do you need consider location:
1. If you’re making an investment, don’t buy land with no resale value.
2. If you’re aiming on starting up a business, don’t buy land completely isolated from potential customers.
3. If you’re looking to build a house, don’t buy land you can’t build on.
2: Neighborhood and Landmarks
Yes you need to check who are going to be your Neighbors before buying a land.
A lot of people make this mistake before buying land. The landmarks in that neighborhood are the key to how fast an area will develop and the value of the land and how fast will the land appreciate.
Checking the environment will help to know the land you want to use for housing purpose is safe to live around, because you don’t want to live in a polluted environment.
You need to consider the environment where the land is located and know how it is currently affecting those living there presently in order to guaranty your safety while living there.
You need to know how secure the area you are planning on, before buying land there.
Security is a vital issue and must be considered when buying land.
5: Government Restrictions.
It is important to know the area is under government restricted area before trying to buy land and this will help you to know the plan of government for that area. For instance: government will not allow you to build a factory in a residential area or build a sky scraper in an area where is mapped out for bungalow.
You might be saying that this is not important, but you will know how important it is to check if the land you bought is accessible or not, and I believe you don’t want to beg your neighbour before you can access your land.
Always make sure that the area you are buying has good road network before buying land.
7: Title Document.
Buying a land without getting the necessary documents is a recipe for disaster. The reason why you would request for a certificate after the completion of a course is the same reason you need to get the necessary documents needed. It is essential you ask for the proof of ownership from the seller before carrying out any transaction. If a seller cannot provide enough proof, it is a red flag pull out from the transaction. Thank You