Avoid These 5 Traps Before Investing In Landed Properties
Investing in landed properties can be a great way to build wealth and create passive income. Because of these, one needs to avoid these 5 traps before investing in landed property most especially in Lagos.
Buying property in Lagos is good and it is a nice thing for everyone who is a citizen of Nigeria to own one property or the other in Lagos. However, one needs to be careful before buying landed property.
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MUST READ: 5 IMPORTANT DOCUMENTS TO HAVE IN LAGOS AFTER FULL OF LAND
Avoid These 5 Traps Before Investing In Landed Properties
- NOT WORKING WITH A CERTIFIED PROFESSIONAL:
This is a major trap property buyers fall into. You can work with a certified professional like a professional realtor or real estate expert. And if you need one, you can send a direct message below to get one.
- NOT CONDUCTING THOROUGH RESEARCH ABOUT THE NEIGHBORHOOD AND LANDMARKS:
This is very important because a lot of first-time property buyer falls into this trap. Take your time to research the neighborhood and landmarks that surround the property you intend to buy.
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- FAILURE TO PLAN WITHIN YOUR BUDGET:
This is very common among property buyers. These people end up asking for a refund because they didn’t plan their budget very well. Don’t rush into buying property without counting your cost very well. And finally, you can leverage an instalment payment plan.
MUST READ: You can buy 300sqm and Build a Very Good House. See the 3 Reasons you should buy 300sqm of land in Lagos
ATTENTION: Are you looking for land or a house to buy in Lagos with a friendly payment plan for up to 12 months or beyond? Please send a message to us to give you the best so far.
- ASSUMPTION OF VERIFICATION OF PROPERTY DOCUMENT:
So far buying property in Lagos is concerned, and verification of property documents is important. Don’t buy when you are not too sure of the verification. You can request for a survey or deed of the property to ease your verification.
- NEGLIGENCE OF ASKING ABOUT THE LAND TITLE AND TOWN PLANNING REGULATIONS:
There are land titles every property should have. Most people only know of C of O. But we have other titles such as Governor consent, Gazette, and Government excision.
Other common titles are registered survey, a freehold land, or even C of O in view. Know what the title is and do your due diligence on it
In conclusion, It is important to be aware of the potential traps that can catch unwary investors. By following these tips, you can increase your chances of success when investing in landed properties.
Remember that patience, due diligence, and a clear strategy are key to making informed decisions in the real estate market.
For more information and inquiries on real estate investment in Lagos, please call or WhatsApp Peter at +234 901 509 4850 or click on the WhatsApp button on your screen.
