Becoming a home owner in one of the choicest areas in the Nigeria cities like Lagos, Abuja, Port Harcourt, Enugu, Uyo, Kaduna, Jos and the likes can be a time-consuming and expensive investment so one have to be extra careful. You need to know what to look out for in a house and also the buying procedure as well before you made up your on a building. To assist you join the ever-growing list of home owners in Nigeria, here is a guide you should go through in the property buying process in Nigeria.
Know how much you want to spend
Before you plan to buy a house in your choice city in Nigeria, you need to have a budget. A lot of people set out to get real estate without properly outlining their budget or knowing exactly what they can afford. Buying a house might be the biggest purchase of your life so it is not the same as buying a car or clothes.
Have proper knowledge of the property
Buying a property in Nigerian city such as Lagos translates into you investing in real estate irrespective of the purpose i.e if the house is for personal use or commercial. As an investor, you want to get the best value for your money and that often translates to the best return on investment. Before purchasing a home in Nigeria, you want to evaluate the potential growth in investment in a particular city or town before you throw your hard earned money at it.
Is it necessary to hire an agent?
It is not compulsory you hire an agent before going out to look for properties but investigating on the reliable one will definitely help you a lot. Trained real estate professionals can use their wealth of knowledge skills and experience to assist you buy the best property. You can search for properties on Nigeria’s real estate platform, kerehomes and find real estate agents and realtors with your choice properties as well as choice location.
Carry out cooperate search and study of the choice property
It is sometimes necessary to do the inspection with someone who is knowledgeable in property standard, two ideas are better than one and one person may understand what you did not know. You’ll be able to renegotiate the price or not buy if you found something abnormal about the property.
If after inspection you still love the house, then you are to
i. Investigate the house,
ii. Find out the who the owner of the property is
iii. Who is selling the property
iv. Who the previous owners were and
v. Why the house was put up for sale etc.
Make payments and request for every documents.
After making a decision to get the property, make payment, and collect all necessary receipt ,forms and Documents required for land purchase in Nigeria including the deed of assignment, contract of sale, letter of allocation, affidavits, purchase receipt, deed of gifts, letters of administration and other relevant documents as specified by ministry of lands or land authorities.
File your documents and do change of ownership with Ministry of land and housing authorities
This step is important as it give you the legal right as the owner of the property. If the property already has a Certificate of Occupancy, you’ve got Governor’s consent for it which is great. If it does not, then you start processing your Certificate of Occupancy as soon as possible.
Start today...Own property tomorrow
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