- December 6, 2018
- Posted by: Editor
- Category: Advice
Buying property for the first time can be as unnerving yet exciting as gaining admission into a school, going on a date with someone you’ve never met before or preparing for your wedding. They all have the propensity to be great investments however, the common denominator with these events lies in one thing: adequate preparation.
In Nigeria, the average age for owning a landed asset is 30 years with a middle class income of NGN500,000 – NGN1,500,000 monthly or savings over time. However, the most important thing is that you are mentally and financially ready to own a home in which case, we’ve got a few tips that would definitely come in handy.
Penny wise, Pound foolish
When you hear or see “buy property for as cheap as ……” and you know that it is ridiculously cheap compared to the going market price for that kind of property in the area, kindly run as fast and as far as your legs can carry you. Such deals are usually time bombs because it’s either the seller isn’t the original owner or such property is falling apart but doesn’t look the part. Diligence is key.
City on the hill or Lily of the valley?
Look out for the topography of the area. Is the ground sloping towards or away from the house? This is necessary for water flow control. The earth’s climate is rapidly changing and Africa – especially Nigeria – isn’t left out in the fun so you wouldn’t want to have the short end of the stick especially in the rainy season. Know about and be available for site inspections or get a good inspector who can find the little details that might elude you.
Welcome to your Hood
The location of your neighbourhood is and the disposition of your potential neighbours is crucial to owning property in Nigeria. For example, you definitely do not want to exit the very wonderful Lagos traffic characterized by the cacophony of blaring horns only to run into neighbourhood noise or drama. Secondly, everything worth doing in life has to be intentional so your ideal neighbourhood should be populated with courteous individuals with thriving careers and businesses. This is good for value-added networking.
Hiring a trustworthy broker
This is the most important of all. Many real estate firms are more attentive to their pockets than your needs, which is terrible for repeat business. Finding excellent professionals who are as interested in your needs as much as you are and solely aim at satisfying them might feel like finding a needle in a haystack but you might want to look no further. Bricks & Tierra specializes in trustworthy brokerage that will leave you with testimonials for aeons to come. We are not just committed to meeting your needs to the fullest but we desire to build and keep lasting relationships with all our clients. We will be excited to work with you.
“Real estate just got realer with Bricks and Tierra.”