What To Know Before Buying A House In Nigeria
One of the most reasonable financial decisions you’ll make in your lifetime is purchasing a house, It is impossible to be too prepared, nobody wants to spend so much money on a house without being careful and well informed.
Buying a house in Nigeria can be tedious as it involves a whole lot. In fact, a lot of people have backed out from buying properties all cause they feel it’s strenuous and requires a lot of processes.
This seemingly strenuous process can be simplified and made achievable. Thus buying a property can be made easy if you follow the following steps.
1. Have a good knowledge of the type of property you want to purchase: Find out about the type of property you want to purchase. Ask yourself questions like why are you interested in that particular property? Is your reason due to a long term goal? Will it still interest and excite you in years to come? Have a good reason for purchasing every property.
2. Have a specific area in mind and know the value of your choice location: Have a choice area in mind and fully understand the value of your choice location this will help you know and evaluate the value of your investment.
3. Know how home buying process works: You need to make Research and learn everything you need to know about buying a home in Nigeria, Ask questions from professionals, Know about the documents involved in the buying process, I mean it involves a lot of money, so put in extra effort in making sure you are going through the right channel.
4. Meet with House owners in the area: It won’t hurt to visit the area you have in mind, find out about the neighborhood, learn as much as possible before making a down payment. It helps you to be informed of affordable properties, proximity areas to your location of interest and advantages of living in the neighborhood.
5. Use a trusted agency: A real estate agent will help protect your interest and guide you through the buying process as they are professionals although some individuals are resistant to using them because they always get a cut from the sales price, they are helpful when it comes to negotiating a suitable price and they also help to navigate home inspections.
6. Have a backup: Sometimes a plan B is needed, you should be prepared if there are no properties in your chosen area, you should have a backup. If you can’t afford properties in your chosen area, you can consider areas in close proximity instead of backing out.
7. Be Ready: Once you have saved up your money, try not to procrastinate if not you’ll end up using it for something else. besides, properties in well-developed areas always end up taken fast so make sure you are ready to make at least 30% of the payment once you have satisfied yourself and done adequate research.