Buying Land In Nigeria? Common Mistake To Avoid

Here go relatively few mistakes that we make when buying land especially when you are so excited and eager about owning your first plot of land. I know right! They are not easy to get out from though, it’s time – consuming and It can be very costly and very frustrating.

Imagine! having to not go through all that.

But the truth is, there are easier ways to sort out things related to land investment.

Let’s get started.

Do your research before purchasing a land

Most people do a lot research before making major purchases, say a car or a television set or even a mobile phone and try to determine the worth of the product before putting in their money. The same diligence, if not more, needs to be shown while investing in a plot of land.

Know the Property’s (Land) Setbacks

What are the set-backs on your plot? (If you are not familiar with the term, “setbacks” are the guidelines that state how close to the border of your property you can build.) Your local building department or owner’s association will have the answer to this question, and it may affect where you put your house; on smaller lots, setbacks may even dictate the size of the home’s footprint.

Try to Picture Your Neighbourhood in 5-10 years

I mean what harm can it do? If you don’t mind me saying. the biggest mistake people make when they buy real estate land is that they often get into a “house fever. Laughs! Just like “Purchasing the latest ride’” Buy house fever, I mean they fall in love with some aspect or location of the property that they forget to ask some of the biggest questions.  when buying a land ask questions; for example, “is there any chance a major street could end up adjacent to my property? “be inquisitive.

Never underestimate the expenses

Determining the expenses prior to making the purchase is very important. There are various costs of maintenance that come along with the purchase of land not to mention the taxes or bills associated with it. All these expenses must be calculated in detail so that the process of purchase goes smooth.

 Avoid doing everything on your own

Many prospective assume that they know it all, or that they can close the entire deal on their own. Though they might have had experience in the past, there’s no one to turn to if you get an unfavorable deal. A prospect buyer should make the most of every possible resource. Try and befriend experts who help them make the right purchase. These experts should be capable enough to bring to notice the slightest discrepancy in the process of making the purchase.

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