TOP 5 THINGS TO CONSIDER WHEN LOOKING TO BUY A HOUSE IN NIGERIA
Buying a house is a thing of joy and is one of the most lucrative investments you can ever do because it has a high return on investment (ROI) and landed properties like houses don't depreciate, it’s not affected by government policies. It’s an investment that gives peace of mind when done well.
Beyond buying a house there are things to be considered when looking to acquire a house in Nigeria, especially in Abuja, Lagos, Ibadan, and Portharcourt. These things are very relevant, and they will serve as a guide when looking to buy a house in Nigeria.
- An essential factor to consider when buying a house is the location of the property (house). Buy a house in a location that gives you easy access to the major necessities of life. These include roads, water, light, place of work, banks, shopping malls or markets, and place of worship. This will save you a lot of time, resources, and energy.
2. Verify the seller of the property before buying.
There are some critical questions you need to ask yourself before deciding on buying a house. Questions like who is selling the house? Who is the owner of the house? Is it the original owner of the house, any of his relatives, or family members? Which name appears on the original document for the house? These are a few questions you need to ask and verify before buying a house in Nigeria. This will prevent you from buying a house from the wrong person.
3. Thoroughly check the condition of the house to avoid future regrets.
It is likely that when you buy an old house, you will have to renovate it a great deal. This might cost more than you expected, which I know is not something you would wish for. This is the reason why inspecting the condition of a house before buying it is very critical
4. Ensure the correct documents are collected after making payment for the house.
After payment has been made for the property, the following documents are essential that you collect: (i) the contract of sale (ii) the purchase receipt (iii) The building plan (iv) original copy of other relevant documents in possession of the seller of the house.
5. Hire a real estate agent to help manage the property: A trusted real estate agent is as critical to a house buyer as a lifeguard is to an inexperienced swimmer. Real estate agents help to safeguard your property especially if you are staying outside the location where you bought the land. If you are staying outside the country and bought a house in Abuja it would be wise of you to hire a real estate agent to manage the house for you. Although some people don’t like the idea because they feel it will attract extra costs. We believe that if you put all the things that have been mentioned in this article into consideration before buying your next house, you won't have any issues.
Do well to share this article with a friend as well so that they will also be well informed before buying a house.