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How To Buy A House In Nigeria

Buying a house in Nigeria connotes various legal requirementsand key procedures to be followed. The first key step towardspurchasing a property in Nigeria is to engage a lawyer who canverify the proposed house to be purchased. It is only a lawyer whowould ensure one does not run into legal troubles with propertytitle after purchase, and also by Nigerian laws, it is only alawyer that is statutorily permitted to prepare legal documents(instruments) for transfer of an interest in any property for afee.

how to buy a house in nigeria

Finally, it is essential to involve a lawyer when one intends tobuy a house in Nigeria, as the responsibilities and roles of alawyer concerning buying property are all-encompassing. Primarily,the solicitor must investigate the property title, prepare orreview the property contract and agreement among others.

Whether you want to invest in real estate or simply buy a home to live in, the house buying process can be exciting and stressful at the same time. Making appropriate preparations and having the right mindset, can help you find the right property with the least amount of stress.

To many, buying a piece of property in Nigeria seems harder than climbing Mount Kilimanjaro, well it is not as hard as that. Owning a home in one of the choicest cities in the country like Lagos, Abuja, Port Harcourt, Calabar and the likes can be a time-consuming and expensive investment so you have to be extra careful. You need to know what to look out for in a house and also the buying process as well before you settle on a building. To help you join the ever-growing list of landlords in Nigeria we will guide you through the home buying process in Nigeria.

Before you set out to buy a house in any city in Nigeria, you need to have a budget. A lot of people set out to get real estate without properly setting out money or knowing exactly what they can afford. Buying a house might be the biggest purchase of your life so it is not the same as buying a dress or a new phone. Without a budget, you might end up buying on impulse, and sometimes spend more than necessary. From legal fees for buying a house in Nigeria to property levies to agency fees, there are extra and sometimes hidden costs you need to be aware of.

Buying a property translates into you investing in real estate irrespective if the house is for personal use. As an investor, you want to get the best value for your money and that often translates to the best return on investment. Before purchasing a home in Nigeria, you want to evaluate the potential growth in investment in a particular area before you throw your hard earned money at it. You need to choose the type of property and location wisely.

If you are confident with the house, you need to confirm the documents of the house is authentic and also verify that the documents were complete. If you are getting a house in Lagos for example, the Bureau of Lands of Lagos state will know if the property is registered as a government acquired property and if there are pending litigation or issues on the property. Verification is a very important thing as it confirms the validity of your purchase and saves you from fraudsters or any future heartache with the government.

With everything in place, you should make all payments regarding the house with your lawyer. After making payment, make all efforts to collect every related receipt forms. Documents required for land purchase in Nigeria include the deed of assignment, contract of sale, letter of allocation, affidavits, purchase receipt, deed of gifts, letters of administration, e.t.c.

Buying a home in Nigeria is a time-consuming and expensive investment. Therefore, it is important to know what to look for in a home and understand the buying process well, before you settle on a house. Luckily, we understand your concerns as a potential home buyer and we will guide you through the process.

Despite the decline in the economy of the country, there has been growth in the real estate sector of Nigeria, many people are still buying houses and we can help you to join the list of homeowners in Nigeria. Our platform offers you the best properties for sale in the country from verified real estate agents and agencies.

Our website has a wide selection of houses for sale, including mini flats, Terraces, bungalows, duplexes, detached houses, studio apartments, flats, mansions, mini estates, penthouses, semi-detached homes, and townhouses, available in all states and designed to accommodate everyone's level of comfort.

To many Nigerians, being a homeowner is the key to happiness and financial freedom. Investing in real estate is regarded as a profitable niche, but deciding to rent a house in Nigeria also has its advantage. If you are caught between buying a house and renting a house, read on to discover what to consider before taking a life-changing step.

Whether you choose to buy a house or rent a house, your personality and life choices matter. The Housing market 2022 reports include plans to provide more housing options to Nigerians which means there are more options to explore when renting a house.

In certain cities in the Nigeria property market, it's cheaper to own a house than rent one. If you are financially capable of taking up the cost that comes with buying a house, then you can go ahead to buy your dream home, but if you are financially struggling with an irregular income, renting a house is preferable.

You should also know that there are mortgage payment plans available in the housing market 202. However, you can save yourself from draining your emergency funds for mortgage payments when the paycheck isn't forthcoming, if you rent a house.

Irrespective of the expenses involved in buying a property, more people would prefer to buy a house than to rent one. Buying a house helps to build stability and a sense of belonging where you can raise a family and create the dream home you want.

Whether you choose to buy a house or rent a house, we are always here to cater to your housing needs. Contact us at Green Bliss Projects today to get the best deals for homeownership and property management.

This process is often the safest and most secure way to buy property in Nigeria. A registered and certified real estate company or agent usually provides diverse services to their clients. Their services range from selling lands and buildings to helping their clients to build houses.

Even though the Naira/Dollar exchange rate plays an important role in building a house in Nigeria, particularly if the materials you will be using are imported, you can still build a standard house with the estimate that we shall be providing below.

If you want your house to be as standard as possible, then you have to employ the service of an architect to help you draft a building plan. Consulting a professional architect for your Nigerian house plan will allow you to give your house a sense of direction.

This is the last expense to incur. With an estimate of 2 million to 6 million Naira, you can successfully do the finishing of your house. This includes flooring, tiling, painting, fixing the doors and windows, wiring, and plumbing.

Separate property can become marital property if it is mixed with marital property. For example, if one of the spouses uses money they had before the marriage to buy a house for the couple, that money might become marital property.

The court can order the home to be sold. If one of the parents has custody of the children, the court can delay the sale (usually until after the child has graduated high school). The court can also give the house to one of the spouses. This will be decided by all the things that affect equitable distribution.

Exclusive occupancy rights give one spouse the right to live in the house. The other spouse must find somewhere else to live. These rights can be given to the parent with custody of the children if the court has delayed the sale of the home. They can also be given for the safety of one of the spouses while the divorce is happening. Courts can give orders of protection, which can make the person the order is taken against to stay away from the home.

The housing demand is caused mostly by the large amount of young professional people in Nigeria, who want to enter the real estate market. In Nigeria, the median age is 18.2 years and half of the population is less than 18 years old. This should all but guarantee a strong demand for houses for many years to come.

Playing close attention to the property market in your area is a smart way to position yourself to benefit from great deals. When it comes to buying a house some of the things that could have a bearing on the timing of the purchase include personal and market factors. Here are a few things you need to keep in mind that will help you figure out when to buy a house.

In the first place, if your finances are a mess then you will not be able to afford a house. Moreover, if your credit rating, as well as your credit history, are poor, then you will not qualify for a mortgage. In addition, you will also require savings for a down payment. Furthermore, additional funds will be required for upkeep, maintenance, and tax payments.

Another very important consideration is the actual time of the year to deem best to buy a house. However, each season has different elements that impact the timing of a purchase differently. Moreover, the market forces of supply and demand can also be quite seasonal. There tend to be more property listings during the warmer seasons. This means that supply increases and the market will suit buyers. But supply and demand are extremely volatile. The increase in the supply of properties in warm seasons leads to lower property prices. This, in turn, attracts more buyers, thus increasing demand to a point of surpassing supply leading to increased property prices. As such, be vigilant with your observation of market fluctuations and pay attention to property prices in order to determine when it is best to buy. 041b061a72


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