Top Ten Mistakes House Buyers Make in Nigeria

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September 26, 2018

While mistakes are inevitable, with the right practices, they can be controlled. Buying a house in Abuja requires an extensive knowledge, and whoever intends to own a house needs to take into consideration some of the points mentioned below.

Having an unrealistic Expectation

Most house buyers get into their search for a house to buy with a blueprint of heaven on earth in their imagination. This might cloud their view of every option offered to them as below par and in the end, endanger their chance of genuinely enjoying the eventual choice they opt for seems they might still have the gut feeling they settled for less.

Improper Inspection:

Inspecting a property requires more than checking the immediate surrounding and the interiors of a building; there are some technical details which one must also take into consideration before finalizing the deal. Inspection can only be effectively executed by a professional.

Emphasis on Aesthetical appearance:

Of course, having an aesthetically appealing building comes with its perks as they appeal to our emotional side. The most important element in a building is its architectural structure. The building’s lifespan depends largely on it. A flaw in the architectural structure can’t be easily spotted by a layman.

Delaying/Neglecting the Paperwork:

While this is a mistake that no one in any part of the world should be culpable of, House seekers in Abuja should take extra caution in the acquisition of all the legally required papers to successfully transfer the ownership of a home.

Not engaging the service of a Broker:

Admittedly, people have been buying and selling properties long before the establishment of real estate as a profession, the advent of Real Estate Brokers further ensure that you acquired the properties at a reasonable cost as they can accurately gauge the price range of any landed property. A professional real estate firm can also properly predict your profit range in the nearest future if you decide to sell it.

 

Buying in an area with little social amenities

While no Nigerian society really has all the basic social amenities required to live a comfortable life, you should try as much as possible to stay away from purchasing a building in an inaccessible area with little or no social amenities as your property will most likely not increase in value and you will definitely spend more on providing them for yourself.

Not engaging in proper Background Check:

To save yourself from future heartbreaks or avoidable legal hurdles, you must do a proper check on the legal status of the building from all relevant agencies in the state and also confirm the authenticity of the owner.

Neglecting the Importance of Social Survey:

The fact that a particular house is cheap and has good qualities should not be the only decisive factor considered before making the payment especially in situations where you intend to leave in that house.

Do a societal survey to determine whether or not you can cope with the crime rate of that area. You can either use the public record of crime rate or perform an independent survey on your own.

 

Not properly reading through the purchase agreement:

An agreement once signed becomes binding on the buyer and the seller. It will be of great benefit for you to acquire the service of a property lawyer who can properly translate the wording contained in the transfer document to you.

Not using a Real Estate Firm:

The importance of using the services of a real estate company when buying a house cannot be overemphasized. Not only do they guarantee you a legally binding and cheap deal, but they are also the only comprehensive package that can totally avoid all the aforementioned mistakes. At Rural Homes, we are a team of highly experienced professionals across all relevant fields with years of experience in the construction, maintenance, buying and selling of properties across Nigeria.

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