Nigeria’s real estate market is full of opportunities. But buying land in Nigeria comes with its unique challenges. Some major cities in Nigeria are currently experiencing high increases in land prices, these ensure investors have high returns on investment. Many investors face scams or disputes, and this is why there is a need for right knowledge to make informed decisions.

We’ll cover key things to know before buying land in Nigeria either as an experienced buyer or first time buyer. The information we’ll share will help you avoid pitfalls and challenges.

Key Things to Know Before Buying Land in Nigeria

Buying land in Nigeria requires very careful steps if you intend to avoid pitfalls. The Nigerian real estate market has risks like fake titles and high costs, in some areas. But with the right information, you can succeed without losing your money into the wrong hands. Here are 10 important points to consider before investing, based on our experience at GLE Properties as a growing real estate developer.

1. Understand the Land Market Trends

Nigeria’s real estate market changes fast. In growing cities like Ibadan and Asaba, demand is high due to growth and population. Land prices rise yearly. Know the trends in your target area or location. For example, Ido Ibadan will experience rapid growth in the next few months with the reconstruction of the road and the train station a few minutes away. This type of development boosts property value over time.

Before putting your money down in any location, research recent sales and future plans. In doing this, you’re being watchful where to put your hard earned money. Stay informed to buy at the right price.

2. Verify the Land Title and Documents

Fake documents are common in Nigeria, amongst various land sellers and agents. Before you buy any land in Nigeria, always check the title and documents, if you’re not sure how, go with a lawyer. Have a good look at the Certificate of Occupancy (C of O) or Governor’s Consent, if you were sold on that. These documents prove ownership and legality of the property.

If you’re unsure what to look out for, outsource to an expert. For instance, you can hire a lawyer to verify some documents provided to you to ensure you’re fully saved from burning money. At GLE Properties, we ensure all plots have proper documents. Our transparent process makes buying land in Nigeria safe. Don’t skip this step to protect your money.

3. Avoid Common Land Scams

Many land sellers and land agents in Nigeria have their scam tricks they use on many buyers in Nigeria. Sometimes, depending on who you are and how they have perceived you the trick could vary from person to person. Some sell the same land to multiple people while others use fake agents. Watch for red flags like low prices or rushed deals. Always meet the seller and visit the site.

4. Check for Land Disputes and Encumbrances

Land disputes are a frequent occurrence and happening in Nigeria. Family claims or government acquisitions can arise at any time which may put you in harm’s way’. Before buying, search for any issues. Talk to people living in the environment about the property you intend to buy, also ensure to check records at the land registry.

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5. Consider the Location and Accessibility

When planning to invest in real estate, location matters a lot. Location is a key factor as regards to value rising, you don’t expect to buy land in a bush and expect a rise in value. Choose land near roads, schools, and markets. In Ibadan, areas like Ido offer good access to Lagos due to its proximity to the train station. Poor location can lower value.

6. Budget for Extra Costs

In most cases, buying land in Nigeria involves more than the price. And most sellers including agents aren’t always upfront with buyers about these costs. Add other fees for surveys, legal work, and possibly taxes. Agent commissions can add up too. Plan your budget to cover these fees.

Meanwhile, for Abraham’s Court Ido, GLE Properties we offer clear pricing with no hidden costs. With flexible payment plans that can help you manage expenses at a split and convenience. We let you know all costs upfront to avoid surprises.

7. Use Flexible Payment Options

Full payment can be hard. Look for developers with installment plans, these plans let you spread costs over time, often interest-free. This makes buying land in Nigeria easier for many.

GLE Properties provides such plans. Buyers can pay in parts without stress. This option suits young investors and families.

8. Hire Professionals for Guidance

Before buying land in Nigeria, always ensure to hire professionals and experts in properties. Never go to inspect or meet with land sellers alone. Use the services of property lawyers, surveyors, and professional agents.

Having professionals right with you when dealing with property purchase sets you on the right path, and this helps you avoid losing your hard-earned money. Professionals help you spot issues you might miss. A good team ensures a smooth process.

Conclusion

Buying land in Nigeria is a big step. Any mistake you make will cost you time and money. But with the right knowledge we have shared in this post, you gain security. At GLE Properties, we draw from real experience in the market. And our trustworthy approach helps you succeed, as a buyer.

Have you been wanting to buy land or house in Ibadan, Epe, Ajah, Lekki, Ibeju-Lekki or anywhere in Nigeria? Reach out to us on +234 806 400 3456 or send an email to support@godslandempire.com. We are ever ready to assist you on your property ownership journey in Nigeria.