HOUSE HUNTING TIPS
It’s not as hard as it sounds to figure out where to buy a house. When buying a house for the first time, there are a few things to watch out for. You don’t have to choose between a nicer house and a better place to live. Both have to match. The goal is to get the best property in the best place.
So, if you want to buy, you should think about where the best place is to buy the property you want to get the most value. For a purchaser, “value” may mean “comfort” and “status.” For a real estate investor, “value” may mean “real estate profit” and “property appreciation”. I can’t say enough about how important location is when buying real estate. In real estate investing, it makes a difference of 70–90%. So, if you want to be successful at investing in real estate, you need to know what to think about before buying a house in Nigeria.
SOME BEST LAND AND HOUSE HUNTING TIPS
- Places on the rise. You can buy land or a house on Banana Island. A piece of land there, on the other hand, can cost as much as N652 million ($1.8 million). It’s clear that not everyone can pay for it. Smart real estate agents tell investors to look at places like Ajah, Lakowe, Eleko, Ibeju Lekki, Mowe Ofada, and places near the Lekki-Epe Expressway that are on the rise. The opportunities in Lekki and Ikoyi have slowly spread to these places, and real estate investors there are already happy. So, if you want to buy a house or a piece of land in Lagos, Nigeria, these are some of the best places to look.
- The reason for wanting to buy the house or piece of land. Before you buy a house in Nigeria, you should also think about why you want to live there. People buy a house or a piece of land to live in or to use for business or as an investment. If you’re buying a house to live in, make sure it’s close to places you go often, like your job, a place of worship, your kids’ school, a hospital, grocery stores, etc. Those who are buying for business or investment should make sure it is in a place where business is booming.
- Commercial Hubs Close By. You should be close to a commercial hub if you think an area is the best place to buy a home. As development continues to spread to nearby towns, the value of your property will go up a lot. The influx of people boosts business, and the large amount of money that comes with it raises the value of property and rent.
- The rules and policies of the government. Through its town planning office, the government sets aside different places for different uses. Some land is set aside for farming, while other land is used for schools, roads, bridges, stadiums, industries, etc. These places are on land that the government bought. Anyone who puts money there is just throwing it away. It would be smart to buy a home near these places. People will work in and take care of the facilities there, and these people will need a place to sleep.
- Infrastructure and Getting Around. If you don’t know how to choose a house or piece of land to buy, you might be swayed by how it looks or how much it costs, but in the end, you might love the house but not the location, or the other way around. How does it feel to have to roll up your pants so you can walk through a puddle of water on the street to get to your house? Or to have to leave your car at the bus stop because the roads aren’t passable?
- Good Quality of Life in the Neighbourhood. When buying a house for the first time, it’s also important to look at the values and way of life of the people who already live there. Are they bad, rude, dirty, stupid, etc.? How do their kids act, and how will that affect your kids? When looking for a place to buy a house, a smart person should think about these things.
- Safety and Security. I know for sure that you don’t want to buy a house or a piece of land where pipelines leak oil into your well, boreholes, and streets. You don’t want to risk living in a place where there will be pipeline explosions or a lot of industrial waste. It goes without saying that no one wants to live in a place where their life, family, or property is in danger. Before you buy a house or a piece of land, make sure you do background checks to make sure your life and things will be safe.
- Closeness to Things to Do and Have Fun. One important tip for finding the best place to buy a home in Nigeria is to look at how close it is to places where you can have fun. You should live close to places where you can relax and have fun if you want to keep your mind and social life healthy. Recreation shouldn’t be too far from home, at worst.
So far, I’ve done my job by telling you what to watch out for when buying a house in Nigeria for the first time. Using these tips will help you find the best places in the country to buy a house. Don’t forget how important a property’s location is. It can make or break an investor in real estate. In the end, keep in mind that a good house in a bad area is a bad house.