Being unable to afford to pay for a plot of land is the number one reason non-land owners give as to why they haven’t bought a plot of land yet. Yes! They have a legit point.
Let’s face it, with our current Nigeria economy, it is challenging to pay upfront for a property. Before I start selling to on why you should buy properties from us, I’d like to share a story. This story might save you twenty years of hard work and savings.
Recently, one of our clients told us his story, read below…
“I bought a plot of land last year around Magodo for N8Million. After making full payments, I started sorting out my papers but then, I was informed and even queried that the land I just bought was actually government land. At first, I thought the problem could be sorted out, and all I needed to do was contact the seller but all my efforts to contact the seller and surveyor has proved abortive. To date, no trace of them. The land is currently under siege by government officials. I cannot believe people can do such a thing and get away with my hard earned money. This problem has given me sleepless nights. How do I come to terms with the fact that I might have just lost my money to fraudsters?”
*Client’s name and phone number have been withheld for confidential reasons.
The only thing worse than not owning property is paying for the wrong property. You do not want to let your money go down the drain or fall prey to endless court battles over issues that could have been averted. Before taking the decision to buy land, you must make proper inquiries. These are questions you must find answers to:
Who are the sellers?
In the event of a fallout, how do you contact the sellers?
Where is the property located?
What is the land title?
What are the available payment plans?
Paying for the land is a process and it’s ok to be unable to pay upfront. The first step is to ensure to meet real-estate professionals who can show you the following:
- Articulate, concise land documents.
- Professional and prompt real-estate services.
- Flexible payment plan, allowing you to start with as low as N100,000 monthly.
Whether you are buying to resell, or you are buying for personal use. Below are five key factors you need to consider before putting your money down:
Zoning of the property
Every state government has a master plan for the city. Of course, it might not look like it especially when there are no infrastructural developments. Verify and ensure the land you’re paying for hasn’t been allocated for government use like marked for a railway track or reserved as a nature park. Once you know the zoning classification (e.g. – residential, mixed-use, roads/railways, industrial, agricultural, etc.) Once you identify the state use of the land, you can easily determine if it’s a fit you or not.
The Topography of the Property
When buying land, you need to understand the topography of the property. This might just save you thousands of dollars that would otherwise be spent on leveling the land. Lands with unpredictable elevations, cliffs, valleys, ravines and more can have a huge impact on the build-ability of a property. Find time to inspect the land before sales. It’s important to chip in here, choose the right seller who’ll make it a point of duty to take you for site visitation.
Is the Property Located in a Flood Zone?
In some parts of the country, particularly in Lagos, are many areas susceptible to flooding during the rainy season. You need to know beforehand if the property is at risk of flooding before paying for the property. In other words, the rainy season is probably the best time to buy landed property, as a lot would be exposed during this period.
Access to Water Supply
Let’s just say until our water system becomes super-efficient; if there’s no way of getting water, do not bother paying for the property. Ask questions! Find out the plan especially if it’s going to be an estate. Can you drill a well in order to access clean water? Or is there going to be some central water system? Make sure you find out, the same thing goes for electricity.
Read more: The ultimate land buyers’ checklist
Title of the land
This land is my land (but…) court cases, omonile trouble, and government wahala. This is likely the most critical factor on this list. Your goal should be to buy land with a registered C of O title. C of O is an issued document by the state government to property buyers, proving that they are the legitimate owners of the land. This title goes for land that can be used for; residential, commercial or mixed development. Well, if you must buy from native owners(Omonile) of the property, make sure you do your findings to confirm that the land hasn’t been acquired by the government or sold in the past.
Choose a Real Estate Partner That Has Your Back
To cut the long story short, you could either go through the rigorous, time-consuming process of finding out the aforementioned information or you could relax and have someone else do the job. Land verification isn’t the easiest thing to do, it takes weeks or even months to get your findings right. The wise option is to leave this complicated job to the real-estate professionals who know what they need to do.
Better still, save yourself the stress and buy into LekkiVale Estate. Here are four amazing reasons you should check out LekkiVale Estate:
- LekkiVale is located in Ibeju-Lekki; the growing commercial and ultra-modern commercial hub of Lagos. This area has attracted massive investment and infrastructural developments including an airport, seaport, shopping complexes, refinery and many more.
- LekkiVale has a registered C of O land title.
- LekkiVale is a planned residential estate with a detailed layout including a water system, parking lots, street lights, electricity plan, security, and many more amenities.
- With as low as N756,250, you can become a landowner with a property in LekkiVale.
LekkiVale Estate at Ibeju-Lekki gives you a one-time offer to join the rise of the new set of millionaires, billionaires, and Landlords in Lagos.
Call in today at 09081234564, 09095757575. Send us an email at email@example.com and let us give you the investment of a lifetime. So, why should you bother calling us today? …Because we understand what Home means to you.