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8 Things to Think About Before Buying Land in Nigeria

8 Things to Consider Before Buying a Land in Nigeria

8 Things to Consider Before Buying a Land in Nigeria

So you planning to purchase a piece of land in Nigeria? Do you want to make an investment in real estate or landed property? If so, you should read this article.

Before purchasing land in Nigeria, there are a number of things to take into account; otherwise, you risk purchasing an unsuitable property. Land purchases are long-term investments, therefore you should be cautious and take all relevant considerations into account before making a decision.

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8 Things to Think About Before Buying Land in Nigeria

I will be showing you the important considerations you should make before purchasing land in Nigeria in this article.

 

1. The Size of the Land 

As an aspiring landowner, this is probably the first thing you want to know. You may have heard terminology like plots, acres, hectares, etc., but you probably don’t know what they mean.

If you want to purchase land in Nigeria, you must take into account the size of the property to ensure that it matches the information provided by the landowner.

For instance, it is your job to verify the extent of the land if the landowner claims it is one plot. Involving a surveyor or a professional in the building sector is one of the ways to verify the accuracy of a land’s size before purchasing it. The surveyor will examine or measure the land to ensure that the information on the survey plan is accurate if the land has a survey plan.

Additionally, in circumstances where there is no survey plan for the land, the surveyor will inspect or measure the property to ensure that the information provided by the landowner is true. After you have purchased such property, the surveyor will also assist in creating a survey plan for you.

 

2. The Soil Type 

To ensure that the land you are purchasing will fulfil your needs, you need also to take its soil type into account. A piece of property with extremely brittle soil might not be good for building construction, and if you do use it, you might wind up spending more money on the project overall.

Make sure the land’s soil type can accommodate the use for which you are purchasing it.

 

3. Topography 

A land’s topography should also be examined before purchase.

Sloppy terrain could increase the expense of building a structure there. Construction of buildings is always more advantageous on flat tablelands. Flooding may occur on land when the topography is poor. A land’s slope may shift in particular ways, which may enhance flooding and eventually lead to erosion.

 

4, Location of the land 

Before purchasing a piece of land, you should also take its location into account because it might increase the value of the property.

A developed area’s land will be more expensive than one that is still being developed. In light of this, you should be aware of how quickly the neighbourhood is developing where the land you want to purchase is located. Land can be found in some places for a reasonable price, but those places are likely to see rapid growth in the near future, increasing the value of the land there.

Markets, especially higher education institutions, transportation, and other factors can spur rapid development in a region.

5, Accessibility of the land (Proximity to Roads)

Easy access to the site of the land you wish to acquire will be ensured by a good road network. Before purchasing land, it is important to think about how you will reach it from a main road.

You can imagine how tough it may be when people purchase property in Nigeria without paying attention to the access route to their property. In some cases, they later learn that the only way to access their property is through someone else’s property.

Before purchasing land, always ensure that the access road issue has been resolved with the landowner. If there is no obvious access road to your site, make sure the landowner provides one to avoid future problems.

6, Price of the land 

You must examine the price of the land you wish to purchase to determine its worth. The price of land can be influenced by its location, geography, soil type, and so on.

If you believe the asking price of the land is not in line with your assessed value, you should consult a real estate valuer to assist you to estimate the capital value of the land so that you do not pay more than the actual value.

7, Available Legal papers 

People continue to neglect to obtain the proper documentation in order to assert ownership of the land they have purchased, even though it may seem like the dumbest of things to forget. It is one of the main blunders or traps that fraudsters or land grabbers try to lure people into.

To assert full ownership of a piece of property, specific documents are required.
Does the land seller have the right to sell the land? is a crucial consideration when purchasing land. Are they actually the owners? It is simple for a thief to pretend as the owner, snap photos of the property, and designate them as “property for sale.”

Land must be legitimately registered before you purchase it, unless you want to register it yourself. In that case, let there be an agreement between you and the land owner because if you plan to register the land yourself, it should influence how you bargain for the price of the property. Check out the Documents to Ask for When Buying a Land/House in Nigeria

8, Security 

How safe is the location where I wish to purchase land, you ask? You must be certain of the area’s security before purchasing any land there.

This is important because it allows you to plan ahead for the security of your property if the neighbourhood is not sufficiently secure. You don’t want to buy land where hoodlums will always disturb you or where thieves will always visit you.