Finding Your Dream Home in Lagos: A Simple Guide
Finding your perfect home in Lagos, Nigeria, is an exciting deal! It takes good planning, a clear budget, and careful checking of all the necessary paperwork.
Whether you plan to build a new space or acquire a finished residence, here are the essential steps for navigating the Lagos property market:
Financial Clarity and Budget Setting
- Before you look at any property, you must set a comfortable budget. This budget covers the whole journey, not just the initial home cost.
- Know the total amount you are comfortable spending, whether from savings, a mortgage, or payment plans.
- Always include the other necessary costs like legal fees, agent support fees, government taxes, and the cost of furnishing or finishing your home.
Explore supportive payment options:
- Traditional Home Funding (mortgage) is available through banks.
- The National Housing Fund (NHF) offers lower rates for eligible contributors.
- Developer Support like flexible installment plans or ‘Rent-to-Own’ schemes can spread the cost over time.
Location and Property Choice
- Where you choose to live is the biggest driver of value in Lagos. Pick a place that fits your lifestyle and offers good potential for future growth.
- Consider your daily travel and how close you are to major roads like the Coastal Highway, Lekki-Epe Expressway, or planned rail links.
- Focus on areas with rapid infrastructure growth (like the Sangotedo Lekki-Epe corridor); these areas often see great appreciation in value.
Choose your pathway with trusted partners:
- Work with reputable real estate agencies or developers with a strong history.
- Hire a trustworthy company to find land that has been properly verified. Avoid risky, unverified deals.
Peace of Mind: Checking is Key
This is the most critical step to protect your future property. Never skip the legal verification stage.
- The property must have a clear, valid ownership document, like a Certificate of Occupancy (C of O) or a Deed of Assignment.
- Hire a qualified real estate lawyer to check the property’s history at the Lagos State Bureau of Lands, Court Registry, etc. They confirm the true owner and check for any government claims.
- Inspect the property physically at different times. Check the structure, water supply, and neighborhood activity.
- Your lawyer must review every document and agreement before you make any major payment.
By following these simple steps with professional guidance, you greatly reduce the risk and move closer to owning the home you have always wanted in Lagos.
At Blissville, we aim to make this journey easy and transparent. We provide the expertise and verified opportunities you need to step into your new home confidently.