TOP 5 WAYS TO PURCHASE CHEAP LANDS IN LAGOS

• Isochukwu
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It is disheartening that the majority of Lagosian prefer to rent rather than buy a home, with statistics showing that roughly 70% of Lagosian believe buying a piece of land in Lagos to be a fantasy that cannot be realized. I have to admit that purchasing a property in Lagos can be very stressful and risky. Many Lagosian try to avoid purchasing properties as much as they can because doing so can result in a wasteful investment if they choose the wrong agents. This explains why some residents of rented apartments in Lagos have constructed their homes in their villages. The first step in owning a home in Lagos is purchasing a plot of land; however, contrary to popular belief, you can purchase a plot of land in Lagos for less than N500, 000.

The first five stages to buying affordable land in Lagos are:

1. Have an intention or desire to purchase land. Find a good piece of land in the area of your choice; read magazines, journals, and articles on how to buy properties in Lagos; browse property websites; and build your interest in buying a piece of land by making it one of your long-term or short-term goals. You don’t need money to do any of this.
2. Regularly save. It may sound like common sense advice, but saving a portion of your income will result in a large sum of money at the end of the year. You can even join a group called Esusu that saves money on a monthly basis. Saving even N20,000 from an income of 80,000 NGN per month will result in 200,000 NGN in ten months, making it easier to purchase land.
3. Use your savings to pay. The truth about saving monthly is that it allows you to be focused, determined, and diligent. When you know that you have to save, you cut costs. You won’t spend as much on shopping and your life seems more organized. However, investing your savings on something tangible is important. We’ve already mentioned one of the easiest ways to save, buying a piece of land with your savings makes it a lot easier.
4. Pay in instalments. There are mortgage plans that allow you to obtain houses and pay with ease, so if this is what you want to do, fine. However, it is extremely important to be consistent with the payment. If the property costs 500,000 NGN, you can pay 200,000 at first.
5. Use reliable and trustworthy agents. Patronizing bad agents is one of the causes of land fraud. You need to make sure the agents are of reputable identity.

CONTRIBUTORS:

• ISOCHUKWU MICHAEL
• AYENI OMONIKE