What you must know before you buy your home in Nigeria

Joining the property market is exciting but also expensive and extremely stressful. This is regardless of whether you are using an offline or online based realtor. It is for this reason that you need to prepare thoroughly before you start searching for real estate for sale in Nigeria. If you are preparing to buy your first home, the following tips will help you better navigate the real estate market in Nigeria.

Decide what you want but be flexible

From Nigeria luxury homes to run-down properties, you will be spoilt for choice. To avoid quagmires, start your search with a pen and paper. Write down the things you wish to see in your future home. How many bedrooms; do you need a private garden; how big should the parking be; do you need a home in a school district? Be realistic and remember that you cannot always find everything in one piece of property. Having a crystal clear brief will help you sift through the real estate for sale in Nigeria, save time and find the perfect property for you. Make sure you save the address of the best houses you find through property search tools.

Do the math and clean up your act

Real estate does not come cheap. We can’t all afford to pay for our dream homes in cash. Speak to an independent financial adviser or your bank to get advice on how much you can really afford and the type of mortgage you can qualify for. Don’t forget to account for additional charges such as the cost of hiring a realtor, survey fees, home insurance and furnishing costs.

To qualify for the best mortgage rates, it is important that you get your finances and credit in order. How is your credit score? If it is poor, you will either fail to qualify for financing or have to deal with unfair interest rates. To clean up your act, you have to pay your debts, register on the electoral roll and simply do everything possible to improve your credit score. If you don’t have a permanent address, get one.

Commit only when you are ready

No matter how attractive the Nigeria luxury homes are, never commit before you are ready. Buying a home is a huge commitment. You have to be absolutely sure that to rent a property in Nigeria will not be better than buying one. Factor in all the expenses and make sure you can keep up with the payments. Consider the HOA fees, property taxes, homeowner’s insurance and so on. Can you really manage all the associated expenses? If your answer is no, then buying real estate may not be a great idea for you right now.

Understand the home buying process

Last but not least, you have to familiarize yourself with the home buying process. There is a lot to know. An experienced real estate agent will guide you from search to closure.

If you are interested in real estate for sale in Nigeria, Emperor Realtors is a great real estate company to seek help from. This is a leading real estate company dedicated to streamlining the purchase process and guaranteeing positive results to its customers. With a team of experienced, knowledgeable and passionate realtors holding your back, you can be guaranteed of the best property purchase experiences in Nigeria. There is a property search tool to facilitate your search.

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