Tips to Properties Aquisition in Nigeria

Tips to Properties Aquisition in Nigeria

Tips to Properties Aquisition in Nigeria | When it comes to buying a property there are several interconnected steps that make up the process.

First time property buyers are often individuals or families.

Who have taken time to save and are looking forward to using their money to purchase a property that they will treasure.

For many, the purchase of a property is the first single largest investment that they will ever make.

The fear of getting it wrong could make the entire process overwhelming but if we approach it with a process mindset, systematically.

We stand a higher chance of getting a good outcome.

Tips to Properties Aquisition

See also: Top 15 Pros/8 cons Online Supermarket in Nigeria

1. Clarity:

Clarity is the first step in the process.

You need to clarify exactly what you want and why you want it depending on your present situation.

This is a decision you can make alone or with your family.

The decision as to where to live will affect the whole family.

If you are married and your spouse is going to be contributing towards the project.

Or supporting you while you are executing the project then you should carry them along.

Read on: 43 Most needed Equipment for Poultry Business in Nigeria

The resources available to you and your timeline are also important.

If you have a shortage of either money or time then this will determine your approach.

It is possible to go on this journey alone but it is far better to have a support team of professionals who will help smoother the search.

It is advisable that you engage the services of one or two real estate agents or property professionals.

A real estate agent or property professional possesses the knowledge.

Or contact that you need to actualize your dream.

Tips to Properties Aquisition

See also: Tips to Start Local Chicken Raising Business in Nigeria

It is also not a good strategy to engage several agents.

Real estate operates on information and those engage in the business.

Have different ways of knowing the properties in the market .

They also relate with other professionals in a way that leverages relationships to get a better deal.

For these professionals to be able to assist you in your search.

They will be interested in at least your answer to two basic questions.

They would like to know which area you are interested in buying.

And how much money you are prepared to spend.

Tips to Properties Aquisition

See also: 8 Needed Tips for Fitness Trends Business in Nigeria

These are questions on location and budget, they are both connected.

The amount that you have available for this project may restrict you to certain areas and properties within certain price ranges.

In calculating the amount that you have available for this project.

Do not forget to make provision for transaction costs such as agency and agreement fees.

Selecting an area to live should not be solely about price range.

It should be about lifestyle and the type of neighbourhood that you intend to live in.

When it comes to evaluating a neighbourhood.

It is better for you to have some basic issues in mind that could be used to compare an area with another.

See also: 12 Tips to Level-Up your Business in Nigeria

Depending on what you consider a priority now.

The common areas of emphasis include proximity to schools, shopping centres, markets, security, and transportation and other conveniences or infrastructures.

If an area you are not familiar with.

You should endeavour to visit the area at various times of the day or week in order to have better perspective about the area.

Asking questions from those you know who live in the area could also make the situation of the area clearer.

Tips to Properties Aquisition

See also: How to Start Airline Business in Nigeria

Physical inspection of a property is one of the key ingredients of real estate decision-making process.

It is true that in this age of social media you can look at pictures.

Or watch videos about a property but take my word for it.

Physical inspection beats all these other methods.

Because it allows you into the look and feel of a property.

It has been suggested by some that you should inspect at least 12 properties.

Tips to Properties Aquisition

Read on: How to Build Farm Pond in Nigeria

There is no hard and fast rule about this.

If you know exactly what you want and you find them in the first property proceed.

However, if you are not sure that you have found the right deal then keep on searching.

Finally, you need to be ready before you begin and be ready to act once you begin.

There are those who begin their property search with the intention of getting their finances

In order after they have found their desired property.

See also: 12 Tips to Start Florist Decoration Business in Nigeria

This does not always work out well.

Since you do not control the transaction time.

And the property seller has no obligation to wait for you.

Before you begin, if you have a plan to sell an asset.

And use the proceed to buy this property go and dispose that asset first.

Tips to Properties Aquisition

See also: Top 50 Nigerian Dishes for money making Business in Nigeria

If you plan to apply for a bank loan.

It is important that you get pre-qualified first.

So that you will not be disappointed or unduly delayed by the bank.

When the opportunity to buy a property presents itself.

The idea is that you should be ready to act without any delay once the opportunity presents itself.


Copyright Warning!

We work really hard and put a lot of effort and resources into our content, providing our readers with plagiarism-free articles, original and high-quality texts. Contents on this website may not be copied, republished, reproduced, redistributed either in whole or in part without due permission or acknowledgement. Proper acknowledgement include, but not limited to (a) Proper referencing in the case of usage in research, magazine, brochure, or academic purposes, (b)"FAIR USE" in the case of re-publication on online media. About possible consequences you can read here: What are the consequences of copyright infringement? BusinessHAB.com is a property of GotoSchool Limited and we have all legal actions at our disposal to take within and outside the internet in effort to protect our intellectual properties. All contents are protected by the Digital Millennium Copyright Act 1996 (DMCA).

Tags: , , , , , , , , ,

Leave a Reply

Your email address will not be published. Required fields are marked *