Houses For Sale Lagos Nigeria - Free House For Sale Tips

Houses for sale Lagos Nigeria - When buying a house for sale there are a number of factors to consider. These factors if neglected or overlooked can lead to investing your hard-earned money in Nigeria real estate that is not worth the amount you paid for it.

Here are some home buying tips that will ensure you make the right decision when considering buying a new home or an old house.

1. Evaluate your budget

Obviously, the first thing to do is to evaluate what amount you have to invest in real estate.

As a human, you have a number of responsibilities on your shoulder. And as the typical economist will say, "human wants are many but the resources to meet them are limited".

In the light of this, when considering purchasing houses for sale, you need to determine how much you can reasonably afford to invest in purchasing a home in view of your other financial commitments like the amount dedicated to your personal development and your family upkeep.

2. Decide the kind of property

Now that you know what you can realistically afford to invest, the next natural question is: what kind of houses for sale can this amount you have buy?

A potential client called me recently and said he wanted to buy a bungalow in Victoria Island. I asked what his budget was and he said five million Naira. To him that sounded like a big budget but in reality, it was peanuts in terms of property prices in Victoria Island. If you are familiar with house prices in Lagos Nigeria you will know right away that houses for sale in Victoria Island are far from being that cheap.

In simple terms . . . the client's budget was ridiculous for the kind of location he desired.

So, be realistic. Your budget can only afford what it can afford.

If the type of houses for sale your budget can afford is a luxury flat or duplex in Ikoyi, go for it. But if it can only afford a plot of land at Akute, Ogba or Ayobo, then don't be proud. Just go for what your budget can afford.

3. Avoid the fallacy of procrastinating

Many people procrastinate or postpone making a buying decision when they find that the budget they have cannot buy Nigeria real estate or houses for sale in their choice location. For example, a man may desire to buy a duplex in Magodo GRA. But then he discovers that his budget or finances can only afford a bungalow in Ogba.

What should this man reasonably do?

First, let's consider what some people do when in this kind of situation.

Some people when faced with this kid of situation decide to postpone the buying decision and opt to bank what they have instead. Why would they do this?

Well, they do this because they believe the solution is to keep on saving and saving until they save enough - perhaps after a couple of years - to buy their choice property in their choice location.

There is a big problem with that kind of reasoning.

First, property prices will rise during that period of saving. So, when you return a few years down the road, the price of the property you intend to buy would have gone up considerably.

Second, the interest on your saved funds in the bank is meager compared to what you would have earned if you had plowed that money into real estate investing, even if it meant buying a small house at the time you did.

My advice?

Invest what you have now in the class of property your current budget can buy . . . even if it is a piece of land. As prices of

homes for sale changes or appreciate, your property value will also appreciate.

Years down the road when you now have additional funds, you can sell off your initial property at a higher price and add you current savings to it to buy your dream property in your dream location.

4. Use the services of Attorneys or Agents

Real estate attorneys can be a big help in ensuring you buy a property that is free of legal tussle or government acquisition. So, use their services when thinking of buying a home or a piece of land.

Real estate agents can also be of great help when it comes to property search and locating houses for sale that match your taste and budget. Using their services can also save you a lot of trouble.

Click HERE for more home buying tips.

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