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Important Things To Consider When Buying A House In Nigeria

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Are you prepared to purchase a home in Nigeria, possibly in Lagos, Port Harcourt or Abuja? When that happens, you’ll undoubtedly have a lot of queries, including where should I buy? What actions do I have to take? What paperwork do I need? How much are the legal costs? Plus more.

 You may find some of the answers to these questions in this brief house purchasing guide, along with some other crucial advice.

The process of purchasing a property can be exciting and stressful at the same time, regardless of whether your goal is to invest in real estate or simply live there. You can find the ideal property while experiencing the least amount of stress by making the necessary preparations and adopting the right mentality.

Make the best decisions for yourself by using this checklist of items to think about before buying a home. Our checklist addresses house seeking, what to look for when buying, the hidden costs of home ownership, avoidable mistakes, and crucial inquiries to make before deciding to buy a property.

How To Purchase A Home In Nigeria.

It takes a lot of time, patience, and planning to buy a house. The complete home-buying process is outlined in these 8 easy steps:

·         Conduct research

·         Determine your budget and set aside a deposit.

·         Determine your eligibility for a mortgage or housing program.

·         Make use of a real estate agent

·         Begin looking for a home

·         Make an offer on a house

·         Get the house examined

Complete the transaction

Tips And Considerations For Buying A House

The complete process of purchasing a home was described in detail in the preceding section. We will go over those procedures in more detail with the checklist and advice that follows for buying a home. Then, you’ll know exactly how to purchase a home in Nigeria.

Give Your Search For A Home Some Time

You must set aside enough time to look for a home, say two months. Then, you’ll need more time—say, another one month—to finalize a contract. Finally, allow yourself an extra month or so in case you need to do some repairs before moving in.

An acceptable time frame is five months to locate, purchase, and move into something suitable.

Instead of rushing into a home purchase that is not suited for you, it is always preferable to take your time and select a property that suits your needs.

How Much Can You Spend?

Setting a budget for your home is essential,since it will help you concentrate on homes that you can truly afford. You may have a choice in mortgages that let you pay for a home in installments.

It’s excellent if you already have money set aside to buy your property. Determine your net monthly income if you require home financing or a payment schedule.

To achieve this, add up your earnings and subtract your outgoing costs. This will provide you with a ballpark figure to work with.

What Kind Of Home Would You Want?

What kind of home are you looking to purchase? What qualities do you find essential, desirable, and undesirable in a home?

·         Bungalow or a flat?

·         Penthouse or a duplex?

·         The smart home

·         4, 2, 3, or 2 bedrooms?

·         What number of restrooms?

·         Kitchen size?

·         Do you need room with a closet?

·         You need a garage?

·         Size of the yard

·         Do you desire a pool?

·         Home in a developed area?

·         New construction or an older home? plus more!

Your responses will enable you to carry out a needs-based, targeted home search. Create a list of features that are a need and retain it for future use.

Keep Your Expectations In Check.

Unrealistic expectations may ultimately cause you to feel frustrated and let down. You must therefore have a reasonable budget.

Beware Of Unforeseen Expenses

The price of purchasing a home is not solely determined by the asking price. There are additional expenses to take into account, such as:

Home furnishings, such as couches, mattresses, tables, and chairs.

Electricity, water, gas, etc., utility fees

Additional fees, such as service fees, property taxes, etc.

Infrastructure charges for drainage, roads, etc.

Insurance: Are there any plans that must be purchased?

Closing costs, such as those for home inspections, title searches, and agent fees.

Select The Ideal Real Estate Agent

Although some people may believe they can succeed on their own, knowledge really is power. Knowing this information makes a real estate agent priceless. Any property search and eventual transaction must take into consideration an agent’s network, counsel, and knowledge of the real estate markets.

Additionally, a lot of homes are really sold prior to being listed online. Consequently, it is worthwhile to establish a relationship with an agent in order to be informed as soon as anything suitable becomes available.

Location Selection

In real estate, location matters a lot. Locations that are in high demand will cost more than others. Undeveloped areas, however, may offer tremendous returns on investment.

Why is a place an excellent location? To mention a few, a central location, good transportation, wealthy population, and a multitude of attractions. Security, access to energy, and the road system are further aspects that are more directly relevant to Nigeria.

Discover The Listing Costs For Homes In A Specific Location.

The internet has made it simpler than ever to get free housing data and information.

Do a fast search on one of the top property portal websites once you’ve decided what kind of property you want and where you want it to be located. Then, you’ll know roughly how much money you need to set aside to purchase a particular style of home in a particular community.

Visit The Area To Get A Sense Of It.

You can renovate a house, but its location will never change; you can’t move your home from one location to another.

Before making any purchases, it is advised that you visit the neighborhood in question. Consider what you like and dislike about the location. Are the parks appealing to you? Is it the peaceful setting? Maybe it’s the upscale eateries?

Don’t forget to interact with the people while you are there; ask them questions to learn as much as you can.

What are the neighborhoods’ chances for the future?

Make some queries about the neighborhood’s future prospects before submitting an offer on a house. What is being planned or constructed nearby?

Are there any new roads being built? Will a brand-new mall be opening soon?

By doing so, you’ll be able to identify all the factors that could have a favorable or bad impact on your future home and way of life.

When viewings are taking place, ask questions.

Your chances of finding your ideal property increase as you become more informed.

As a result, in order to receive clarification and information, you must ask the vendor questions. So, inquire about things like how long the house has been on the market.

If you locate a property you really like, you might find it helpful to go back and look at it again. Plan a night viewing if you previously attended during the day, and vice versa. This will give you a thorough understanding of both the home and the surrounding area.

Prepare Your Camera And Take Notes And Images.

Given that you will probably be touring several homes, it is a good idea to take pictures of any significant home characteristics. You can also make brief notes if necessary. After that, you can review these images and notes to help you choose your ideal house.

Prior to taking any photos, it is nice to ask for permission.

Deal Breaker List For Purchasing A Home

Arrange a second or third viewing of a home you’ve fallen in love with in order to assess it and search for any potential issues. Get a second opinion about the property by calling a friend or an authority. If you identify significant issues before making an offer, you may be able to avoid paying expensive survey fees.

·         Check the ceilings for stains, leaks, and cracks.

·         Check for moisture on the walls, windows, and flooring.

·         Are the windows and doors functioning properly?

·         Could you please turn on the lights?

·         Are the electrical outlets working?

·         Check the plumbing to see if the faucets work. Do bathrooms flush?

·         Do heating and air conditioning systems actually work?

·         Is the area covered by a mobile network?

·         Take a look at the roof; does it leak during a downpour?

·         Look at the building’s exterior to check for any signs of structural deterioration.

·         You shouldn’t let minor issues prevent you from purchasing a home.

Unless you physically construct something or create it yourself, nothing is ever flawless; even then, there will inevitably be flaws. Therefore, don’t let the interior wallpaper or the outside paint color deter you from making an offer if you locate the ideal-sized duplex in a nice neighborhood that is within your price range.

You ought to have sufficient funds after paying the house’s reasonable asking price to make the necessary repairs and renovations before moving in.

Will You Ever Be Able To Sell This Property?

Before making a commitment to purchase a home, it is crucial to take into account how simple it is to sale one. There may be drawbacks to a property that you are willing to ignore, but will others?

Consider every reason why the house might not have sold if it has been on the market for a while. Most of the time, it’s just that the asking price is too high. Other factors, though, including loud neighbors or a bad parking spot, can also exist.

Be Patient, New Homes Are Constantly Being Listed For Sale.

Always proceed with caution; finding the proper home demands time and a cool head.

There’s no need to fear if your fair market value bid for a house is rejected if another person beats you to it. Unless you truly desire it, you shouldn’t go make a blind offer on another house.

You’ll ultimately find something if you keep looking. When that happens, don’t forget to perform the necessary pre-offer checks. Never make an offer for something you do not like or for which you have not done your due diligence.

Prior To Paying For The House

A professional house inspection and a thorough final assessment of the property are a must. Once the documents for the house have been verified, you may move forward with the paperwork. For this, a real estate lawyer should be retained.

Time To Begin Your Home Search

Every home you choose will ultimately have advantages and disadvantages. You must determine for yourself what elements you cannot live without, what elements you cannot live with, and what elements you are willing to give up


Remember that while it’s crucial to take into account all the factors we talked about when looking for your dream home, no house will be without at least some flaws. Even the house of your dreams can require new roof, bathroom renovations, or appliances

Although the objective should be to discover a home that meets the majority of your necessities and some of your wants, no single residence will be able to satisfy all of your requirements.

Purchasing a new house can seem stressful, but if you know what to look for and what questions to ask, the entire process will be much more manageable.

Home buying in nigeria

If you want to buy a house in Nigeria, specifically in Lagos, Deka Real Estate can help you. Get in touch today and lets discuss your property needs: +234 0882023568

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