According to available statistics, Nigeria has a housing deficit of 17 million units and 3.2 million units in Lagos State! This is huge considering our estimated population of 200 million people. Payment of rent takes at least 47% of monthly take-home. Hence, owning a house is a big deal, but totally worth it.
Getting that dream home in a cosmopolitan city such as Lagos is a huge dream and on so many people’s bucket lists. The joy of getting your own house(s), is unquantifiable. Perhaps, you have made a list of prospective houses to choose from, or maybe, you have no idea on how to get started.
Buying a house is a huge step, and the feeling can be electrifying, however, it’s important not to be too enthralled, thereby not taking into cognizance crucial steps to take in doing so.
There should be an expectation, know what your priorities are, in fact, you should list out these priorities and inform your realtors about them just before the house hunting process begins.
Here are a list of 5 things to consider just before you purchase a house in Lagos State;
You probably have heard this several times, however, the location, particularly in a state as busy as Lagos is imperative and a contributory factor in making a purchasing decision. The choice of a location is up to you, except of course in cases where your realtor advises on a different location, which also matches your preference(s).
In selecting a location, you may want to consider the proximity to places you frequently go to such as your office, place of worship and some other factors. You also need to survey the environment or neighborhood, ask questions to see if it is a place you are comfortable living in.
The importance of a budget cannot be overstated. Through budgeting, you get to know how much you are willing to spend for the purchase of your desired home. The budget also defines the style of housing (in terms of the housing layout, size and aesthetics) you want to opt for. You should look to working within or/and around your budget.
Getting a Realtor
You sure do need the service(s) of a realtor or real estate agency before purchasing a house in Lagos State. The realtors and real estate agencies are professionals in the field, who not only take away the large chunk of work of searching for your choice home, they also help sort out the paperwork, provide expert opinions, handle property inspections and negotiations, help work within your budget, plus they also have some of the best closers.
It’s in the Detail
You should also see things for yourself. Check out every detail, from the plumbing, to the electricity, to the various fixtures, security and the aesthetics. Payment should be made when you are satisfied with what you see!
Age of the House
You will also need to check and consider the age of the house. If it is a newly constructed house, then you are going to be the first occupant, but if it is a relatively old house, then you should check out the maintenance culture of the house, just before you make a purchasing decision.
Buying a house in Lagos is a big decision, and you will want to make sure you get everything right. Well, hope these tips help!