The land buyer’s checklist

The land buyer’s checklist

Everyone dreams of owning property. Whether you’re two days away from owning one or five years from owning property, here are ten things you should look out for before buying land in Nigeria.

1. Pick a trustworthy team, including a real estate agent, an architect, and/or a contractor

The first step is all about getting the right people to aid you in navigating this process. Buying land in Nigeria, particularly Lagos can be overwhelming. You need to cross-check and double check everything. To do this effectively, you need to work with a committed team that puts your interests first. Choose a company you can effectively communicate with. Here at Sevic PDC, we ensure complete transparency; we’re a team of trustworthy people you can rely on.

2. Ensure the land you’re looking at is safe for building

 

Read more: There’s land and there’s land!

 

If you are looking to own land in Lagos, you can’t buy just any vacant land. You should look out for the following: is it a suitable site to erect a building? Is it a swampy area? How much sand fillIng would you need? Would you need to spend money on grading the land or taking out trees?

Now, these questions are the reason for site visitation. NEVER buy land without a site visitation. If you can’t make it, ask a trusted family member or friend to undertake this venture. At Sevic PDC, we insist on scheduling a site visitation for you and we will commute you to and from the site. Our goal is to ensure you make the best deal possible.

3. Conduct a soil test

I can’t stress the importance of this. If you’re going to own property in Lagos, ensure the land drains well. This is to avoid future damages and water retention in buildings. Even if you can’t hire a professional to conduct a proper soil examination, an inexpensive alternative would be to go for an inspection a few hours after it rains. Also, avoid coastlines; most coastlines are susceptible to flooding.

The quality of the soil determines if it’s fit for a septic system. They’ve been cases especially in Lagos, where the fluid from the septic tank infiltrates into other areas of the building. LekkiVale Estate is spread across six hectares of 100% dry land and we’d love to show you just how well it drains especially after it has rained a storm.

 

Also read: How to recognise a good land sales deal

4. Ensure the zoning classification permits you to build

Unless you’re a farmer, you’re most probably buying land to build. Although it might not look like it, Lagos has a master city plan.

Do your research to ensure you don’t buy land that’s been committed for Government use. No one can forget in a hurry how Governor Fashola demolished over 2000 homes that were constructed along with major road plans or on committed lands. It doesn’t matter how long it takes, eventually, the Government always goes back to the master plan. You don’t want to fall a victim, ask questions.

Demand a survey plan, to ensure the land you’re buying has been allocated for residential/mixed development use.

5. Plan ahead and assess your financing options

This is a good place to say, avoid cheap lands. Lands in Lagos are generally affordable but not cheap. The location and title of the land determine to a large extent the cost of the land. Lands located at Ikorodu and lands located at Ikoyi don’t have the same price. Depending on where you’d like to buy land, do your research to have an estimated cost of land in that region.

Get your finances in order and budget appropriately to avoid getting stuck halfway. Most real-estate firms like ours give you the option to either pay outrightly or spread your payment across a given period of time. This gives you the liberty to choose the most suitable payment option for you.

At Sevic PDC, we offer an extremely flexible payment plan extending up to twelve months on all our estates. Our goal is to let your own property at your financial pace, without the pressure of having to pay immediately.

 

Read more: What makes LekkiVale Estate stand out from other estates

6. Make sure all necessary amenities are available at the property

When buying land, everything matters, from determining if the land is located along a major road to if it has access to power, water, and mobile communication.

The real-estate company you decide to work with should give you a full master plan for the estate. Avoid lands located far away from the closest major road. LekkiVale Estate is located along the Lekki-Epe Expressway, with a plan to provide 24/7 water and power supply.

7. Obtain recent co-ordinates of the survey of the area

A survey plan basically determines the exact coordinates of a property. This is to ensure the plot of land you’re buying falls within the stipulated co-ordinates. Your seller should show you a recent survey plan to help you determine exactly where you’re buying.

8. Verify land documents

Have a lawyer conduct a title examination. Land titles are a big deal.

The title on the land you intend on buying determines if you’re going to have full rights on the property or not. Basically, avoid lands that do not have a C of O or Governor’s consent. You can settle for a Gazette but even that requires full verification. A C of O is the officially recognized land document in Nigeria and it is extremely easy to verify its authenticity. You can get a lawyer to verify the authenticity of the land document or you can do it yourself at the Land Bureau Department at Alausa, Ikeja.

All you need is a copy of the land document, your seller should be able to give you this document. Well, if they aren’t willing to release this document, it is a clear sign you might need to jump ship!

At Sevic PDC, we are ever-delighted to walk you through the process of verification, giving you a copy of all the documents required for a successful verification process. All our estates have a C of O land title.

9. Evaluate potential ROI on the property

In plain English, invest in an area that has high economic growth potential. A good real-estate company should recommend hot zones to buy land that guarantees high ROI returns. It’s only wise to buy land in a growing area, rather than a declining area.

Currently, Ibeju-Lekki is a prime real-estate hub. This area is the fastest growing area in Lagos with explosive growth potential. Let’s just say, if you missed out on the chance to acquire property in V.I, Ikoyi or Lekki, then this is the ideal opportunity for you. LekkiVale Estate located at Ibeju-Lekki is strategically located opposite The New International Airport with an estimated ROI of up to 400% in the next 4-5 years.

10. Make a decision

If you’ve gotten to this point and you have a plot of land in mind, make the decision to buy now. Lands in specific areas get sold out by the minute. You need to understand that you aren’t the only one looking to invest in a particular area and the more you procrastinate, the higher the cost and likelihood of missing out on a fantastic opportunity.

 

Also read: How the 2019 elections might your investment at Ibeju-Lekki

 

Let’s get you started, call us today at 09081234564/09095757575 or send us an email at info@sevicpdc.com and be a part of LekkiVale Estate.

Click here to Book an Appointment

 

Lekki Airport: How the proposed Airport at Ibeju-Lekki might affect you

Lekki Airport: How the proposed Airport at Ibeju-Lekki might affect you

On average, it takes about 1hour 45mins to go to the Murtala Muhammed International Airport (MMIA). If you live in Lagos unless you’re driving by 3 am, you might get stuck in traffic. Lagos is home to 21 million people, making Lagos the most populous city in Africa and home to many multinational corporations.

 

Naturally, there’s a large influx of people streaming in and out of town. Due to the pressure on the only existing airport, former Governor Babatunde Raji Fashola initiated the new international airport project at Ibeju-Lekki. The new airport expected set to lessen the pressure on the dilapidated federally owned Murtala Muhammed International Airport and serve the fast-growing industrial Lekki hub, the Lekki Deep Seaport and Dangote’s 650,000bpd refinery, among others.

 

Other than serving its primary purpose, the new airport will boost residential as well as commercial infrastructure. Ibeju-Lekki has already bagged massive projects like the Free Trade Zone, taking it a step closer to becoming the next commercial hub of Africa.

What do all these mean for you?

Location Advantage

Firstly, if you’re a frequent traveller, living near an airport is the superb choice for you. Owning a home in LekkiVale estate offers you accessibility and a chance to skip traffic and parking space issues at the airport. You get to fly in and out of town with ease without having to plan a whole day around it. No more fear of missing your flight should ‘Lagos roads’ get crazy. The areas surrounding airports enjoy well-paved roads and connectivity. This is an excellent place to mention the fourth mainland bride scheduled to commence development by the end of the year, December 2018. This region will attract a huge population influx all prying to take advantage of its endless opportunities. Equally, proximity to an airport speeds up the level of development of the neighbourhood. Ibeju-Lekki is bound to emerge as a commercial destination, witnessing explosive expansion in infrastructure and developments like retail outlets (ShopRite is currently building an outlet at Ibeju-Lekki), malls, hotels (same as the Oriental hotel), schools, entertainment zones and restaurants. This level of development guarantees a high standard of living and access to premium services and amenities. LekkiVale Estate guarantees world-class amenities like a community centre, swimming pools, sports arena, gym and green zones.

 

Read more: How to recognise a good land sales deal

Investment Opportunity

It presents an opportunity for an assured sustainable investment. But before you go signing checks, you need to understand the importance of land titles and pricing. 90% of the lands located close to the airport do not have a C of O land title. Usually, most of the titles you’d see there is either excision in progress or Gazettes. This explains the gross price discrepancies between different real-estate companies. Before paying for any plot of land at Ibeju-Lekki, make sure it has a valid C of O title. Granted, your agent might tell you that a Gazette or excision in a process is a ‘done deal’ and that you have nothing to worry about, however, if you’re familiar with how the system works in Nigeria you’d understand that unless you have valid documents there’s no guarantee.

Value Appreciation

Properties located at the outskirts of an airport appreciate by to 40% value appreciation in the first few years after the completion of an airport and the rate goes up to about 80% when its activities fully commence. LekkiVale Estate is strategically located close enough for you to reap all the benefits associated with living close to an airport yet far enough to avoid the downsides of living too close to the airport like noise pollution and potential health side effects. The added advantage of convenience boosts housing costs. An example worth noting is Southlake, Texas, one of the nation’s wealthiest communities and home to high-ranking corporate executives, media personalities and professional athletes. Here, the average home price is about $800,000 and the DFW runway – sitting a mere 230 yards away – is one of the community’s big draws. “These executive and other white-collar workers are purchasing homes with quick access to the airport because they are air travel intensive,” John Kasarda, an airport business expert and consultant, also told Forbes. “People in finance, auditing, marketing, consulting, media, they’re the people that are clustering near the airport.” While noise pollution and potential health side effects are worrisome, it’s helpful to consider the advantages of living near an airport as well. Perhaps the biggest perk of all is that you will be – at the risk of sounding obvious – close to the airport. This means your travel time to any domestic or international destination will be reduced, something especially coveted by frequent fliers.

 

Also read: Did You Say You Can’t Afford it? You Might Just Be Wrong

ibeju-lekki-lekki-free-zone

 

The Bottom Line

Living near an airport has its pros and cons. On the plus side, air travel will be very convenient and you’ll be able to save substantial time. On the downside, noise, pollution and health risks could be very real concerns, depending on the proximity to the airport, how busy it is the flight paths and even the type of aircraft used. 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. Once again, do not miss this AMAZING opportunity.

 

Read more: What makes LekkiVale Estate stand out from other estates

 

Call in today at 0908123456409095757575. Send us an email at info@sevicpdc.com and let us give you the investment of a lifetime.

You can also chat with us on WhatsApp: 09095757575 09081234564

 

 

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