Investing in real estate is a major financial decision, and in a dynamic market like Nigeria, it’s important to approach the process with the right information. Here are five key considerations before making your property purchase:
- Location: This remains the most critical factor in real estate. Consider accessibility, infrastructure, security, and the potential for value appreciation. Urban centers and developing areas like Abuja and Lagos offer good prospects.
- Documentation: Always verify the land title and documents. Ensure the seller has a Certificate of Occupancy (C of O) or other government-recognized titles. Engaging a trusted legal expert can save you from costly disputes.
- Purpose of Purchase: Are you buying for personal use, rental income, or long-term investment? Your goal will influence the type of property, its location, and financing.
- Developer Reputation: Investigate the track record of the developer or seller. Check reviews, ask for references, and visit completed projects. Scitygate Real Estate prides itself on transparency, quality, and customer satisfaction.
- Budget and Financing: Understand the total cost involved—including legal fees, agency fees, and potential development costs. Consider flexible payment plans or mortgages if available.
Making the right decision now sets the foundation for secure and profitable property ownership in the future.