Buying a house or land property in Nigeria is a first time prospect for some home buyers or a onetime decision for others. Some get excited, some stressed, and some do so in a hurry. When you see a property for sale, you sometimes get a feeling of that’s the dream home I want and overlook other aspects that could impact on the property you are buying.
When you get the feeling that, oh this is the best house or land property in Nigeria, you will ask for the property immediately and request to seal the deal. You start asking for the price, without knowing other things attached to the property.
The decision of buying a property in Nigeria Is not something you do in a hurry or rush. It is something you do in a calm manner knowing that any decision you take will definitely impact your lifestyle, affect your family, also your finance. This kind of decision is something you won’t want to regret in future.
Knowing and keeping in the mind the consequences of taking the wrong decision when buying a property in Nigeria, we have enlisted here the things every land, home or house buyer needs to know before buying a property in Nigeria.
We advise, you kindly go through these things. They are very important and determines the future of that property you are buying.
-Most Important things to lookout for before buying property in Nigeria:
These things listed below are the factors to be considered before buying property in Nigeria. These things must be your parameters for determining the choice and trustworthiness of the property. We believe that everyone both home and abroad should have a knowledge and understanding about Real Estate market in Nigeria.
They are as follows:
1. Credibility and Reputation of the Construction Company
Before buying a home property in Nigeria, It is very important to know the reputation and credibility of the company or real Estate Developer that handled the building project. Going the through the profile of the company and knowing their service history is very important. Knowing the previous work done by the company or developer is very necessary. The internet is available to us to make proper research and get good useful information about the company. It is awesome you know what people are saying about the company and how they render there services.
2. Transportation to School, Markets and Hospitals
Our choice of buying a home in Nigeria should be guided by proximity and connectivity of the location to school, hospitals and markets. In every family people go to school, markets and visit the hospital. Checking how far are the nearest schools, shopping malls, markets, hospitals, motor parks, airport and train station from the location of the property is very important. If you save money in buying the property but end up spending more money and wasting energy on travelling far distance it makes no sense. Having the best house in Nigeria is of no use if your children will travel distance going to school. Your ability to get to any place quickly and easily is very important. Consider bad roads, traffic, and other factors that could cause delays.
3. Distance of the property to your place of work
The location and distance of your home to your place of work is a thing to consider. In Nigeria there is this thing of wherever you reside is most likely where everyone in your family live too, and we work almost 6 days in a week, your children will attend their schools in same place. This means a lot to where you buy a home. If the distance between your property and the home is longer, definitely it will lead to high fuel cost, long time of travel, tiredness dues to long travel distance and so many other expenses and risk. So this should be in your mind when buying a home to live.
4. Future Resale Potential
Consider the potential of reselling that property in future if the need arise. Remember that reasons might arise that will require you to change location or want to resell it out in future. This is why you need to look at the importance of resale value of the property. You have to determine whether the property has good resale cost, if it will be attractive in future for someone to buy. That is why it’s very important you take proper look at the resale potential of any property you buying in Nigeria.
5. Rental Potential
Experience and history have shown that in most cases after buying a property, people chose not to live there due to one reason or another. They change their mind and decide to move away from that location, and rent out the property. In such cases, what if you realize that your property have no good rent value, I know you will feel bad. So therefore it is very necessary you look at the rent value in that place where you want to buy your dream property in Nigeria. People that wants to rent the house will be looking closeness of the house to market, hospital, major road, town, schools, parks, different transportation option, good road and light.
6. Standards of living in that location
Before acquiring a property in any place in Nigeria, you need to look at the standard of living in that location. Getting good understanding of the standard of living that area is a very important task to accomplish. Knowing the kind of people living in that area is good, because safety and wellbeing of your family is not something you should trade for anything. You need to know the lifestyle of people staying there. Note, the type of people living in an area makes the area what it is.
7. Nature and Standard of Urban Development in that Area
When trying to buy a property in Nigeria, it’s good to look at the nature and standard of infrastructural or urban development of that area. It’s important you consider how developed the area, what is the potential of fast development is, does it have good amenities or is there possibility of good amenities coming there soonest. Is it closer to a main road, if the property is not close to a main road, then the rate of development will be less. This factors mint be tolerable to you now, but in a long run, it will become frustrating. That is why is necessary to consider the closeness of the property to road and other amenities.
8. Quality of the Construction
The quality of construction of that home matters. While visiting any property for sale, one must ascertain the construction quality. The quality of the construction materials used for the house should be properly looked into. Checking overall look and feel, quality of finish, quality of paints, wiring, fittings, tile, plumbing work, doors and windows. If it’s an under construction property you can ascertain all these facts only by checking the credibility of the property developer or owner.
9. Available Amenities
Almost all residential property today in Nigeria comes with different amenities. To maximize the living experience of the buyer or residents, owners and real estate developers focus on providing this amenities in homes. Parking space, lift, power backup, swimming pool, gym and some others are common amenities that is provided. Even if you are the type that does not need all these amenities, ensuring all these amenities are available will impact the resale potential value of the property. Amenities are things that everyone in the family might need and future of buyer of the property might need also.
10. Cross Ventilation and Flow of Natural Light
Am sure that no one will want a home that is covered with darkness even while the day is bright, also a home that no fresh air comes inside. Cross ventilation and flow of natural light into your home is an important aspect a buyer should considered. They affect your daily lifestyle more than you know. Check the flow of light and air into the building is very important. There can be other nearby structure blocking the flow of light and air, the balcony or terrace might be facing the opposite side, anything can be possible. When you visit the property you want to buy, checking all these things is very important.
Yes, it might be tough for any home buyer to check and determine all these things at a go. But it is advisable you do due diligence in checking out all this things mentioned. If you can’t do it yourself consult someone else to do it.
Propertypointng.com is a leading real estate and property website in Nigeria. Our team of expert are available for this kind of consultation service.
When you get the feeling that, oh this is the best house or land property in Nigeria, you will ask for the property immediately and request to seal the deal. You start asking for the price, without knowing other things attached to the property.
The decision of buying a property in Nigeria Is not something you do in a hurry or rush. It is something you do in a calm manner knowing that any decision you take will definitely impact your lifestyle, affect your family, also your finance. This kind of decision is something you won’t want to regret in future.
Knowing and keeping in the mind the consequences of taking the wrong decision when buying a property in Nigeria, we have enlisted here the things every land, home or house buyer needs to know before buying a property in Nigeria.
We advise, you kindly go through these things. They are very important and determines the future of that property you are buying.
-Most Important things to lookout for before buying property in Nigeria:
These things listed below are the factors to be considered before buying property in Nigeria. These things must be your parameters for determining the choice and trustworthiness of the property. We believe that everyone both home and abroad should have a knowledge and understanding about Real Estate market in Nigeria.
They are as follows:
1. Credibility and Reputation of the Construction Company
Before buying a home property in Nigeria, It is very important to know the reputation and credibility of the company or real Estate Developer that handled the building project. Going the through the profile of the company and knowing their service history is very important. Knowing the previous work done by the company or developer is very necessary. The internet is available to us to make proper research and get good useful information about the company. It is awesome you know what people are saying about the company and how they render there services.
2. Transportation to School, Markets and Hospitals
Our choice of buying a home in Nigeria should be guided by proximity and connectivity of the location to school, hospitals and markets. In every family people go to school, markets and visit the hospital. Checking how far are the nearest schools, shopping malls, markets, hospitals, motor parks, airport and train station from the location of the property is very important. If you save money in buying the property but end up spending more money and wasting energy on travelling far distance it makes no sense. Having the best house in Nigeria is of no use if your children will travel distance going to school. Your ability to get to any place quickly and easily is very important. Consider bad roads, traffic, and other factors that could cause delays.
3. Distance of the property to your place of work
The location and distance of your home to your place of work is a thing to consider. In Nigeria there is this thing of wherever you reside is most likely where everyone in your family live too, and we work almost 6 days in a week, your children will attend their schools in same place. This means a lot to where you buy a home. If the distance between your property and the home is longer, definitely it will lead to high fuel cost, long time of travel, tiredness dues to long travel distance and so many other expenses and risk. So this should be in your mind when buying a home to live.
4. Future Resale Potential
Consider the potential of reselling that property in future if the need arise. Remember that reasons might arise that will require you to change location or want to resell it out in future. This is why you need to look at the importance of resale value of the property. You have to determine whether the property has good resale cost, if it will be attractive in future for someone to buy. That is why it’s very important you take proper look at the resale potential of any property you buying in Nigeria.
5. Rental Potential
Experience and history have shown that in most cases after buying a property, people chose not to live there due to one reason or another. They change their mind and decide to move away from that location, and rent out the property. In such cases, what if you realize that your property have no good rent value, I know you will feel bad. So therefore it is very necessary you look at the rent value in that place where you want to buy your dream property in Nigeria. People that wants to rent the house will be looking closeness of the house to market, hospital, major road, town, schools, parks, different transportation option, good road and light.
6. Standards of living in that location
Before acquiring a property in any place in Nigeria, you need to look at the standard of living in that location. Getting good understanding of the standard of living that area is a very important task to accomplish. Knowing the kind of people living in that area is good, because safety and wellbeing of your family is not something you should trade for anything. You need to know the lifestyle of people staying there. Note, the type of people living in an area makes the area what it is.
7. Nature and Standard of Urban Development in that Area
When trying to buy a property in Nigeria, it’s good to look at the nature and standard of infrastructural or urban development of that area. It’s important you consider how developed the area, what is the potential of fast development is, does it have good amenities or is there possibility of good amenities coming there soonest. Is it closer to a main road, if the property is not close to a main road, then the rate of development will be less. This factors mint be tolerable to you now, but in a long run, it will become frustrating. That is why is necessary to consider the closeness of the property to road and other amenities.
8. Quality of the Construction
The quality of construction of that home matters. While visiting any property for sale, one must ascertain the construction quality. The quality of the construction materials used for the house should be properly looked into. Checking overall look and feel, quality of finish, quality of paints, wiring, fittings, tile, plumbing work, doors and windows. If it’s an under construction property you can ascertain all these facts only by checking the credibility of the property developer or owner.
9. Available Amenities
Almost all residential property today in Nigeria comes with different amenities. To maximize the living experience of the buyer or residents, owners and real estate developers focus on providing this amenities in homes. Parking space, lift, power backup, swimming pool, gym and some others are common amenities that is provided. Even if you are the type that does not need all these amenities, ensuring all these amenities are available will impact the resale potential value of the property. Amenities are things that everyone in the family might need and future of buyer of the property might need also.
10. Cross Ventilation and Flow of Natural Light
Am sure that no one will want a home that is covered with darkness even while the day is bright, also a home that no fresh air comes inside. Cross ventilation and flow of natural light into your home is an important aspect a buyer should considered. They affect your daily lifestyle more than you know. Check the flow of light and air into the building is very important. There can be other nearby structure blocking the flow of light and air, the balcony or terrace might be facing the opposite side, anything can be possible. When you visit the property you want to buy, checking all these things is very important.
Yes, it might be tough for any home buyer to check and determine all these things at a go. But it is advisable you do due diligence in checking out all this things mentioned. If you can’t do it yourself consult someone else to do it.
Propertypointng.com is a leading real estate and property website in Nigeria. Our team of expert are available for this kind of consultation service.
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About the Author: Isaac Grant Prayer
