Buying a home in Lagos, Nigeria, can be an exciting butchallenging process, especially for first-time buyers. With the city's dynamicreal estate market, it's crucial to be well-informed to avoid costly mistakes.Here are ten common pitfalls that first-time homebuyers in Lagos should steerclear of:

1. Skipping Proper Research

Many first-time buyers rush into property purchases withoutconducting thorough research. It's essential to understand the real estatemarket trends, neighborhood conditions, and potential future developmentsbefore making a decision.

2. Ignoring Title Verification

One of the biggest mistakes homebuyers make is failing toverify property titles. Ensure the property has a valid Certificate ofOccupancy (C of O) or Governor’s Consent to avoid legal disputes in the future.

3. Not Hiring a Real Estate Agent

Some buyers assume they can handle the purchase alone, buthiring a qualified real estate agent can help navigate the complexities ofLagos' real estate market. Agents provide valuable insights, negotiate betterdeals, and help with legal documentation.

4. Overlooking Due Diligence on the Seller

Fraud is common in Lagos real estate, and many buyers havefallen victim to scammers. Always verify the identity of the seller ordeveloper, and ensure they have the legal authority to sell the property.

5. Failing to Inspect the Property

Pictures can be deceiving. Visit the property physically toassess its condition, surrounding infrastructure, drainage systems, andsecurity before committing to a purchase.

6. Underestimating Additional Costs

The cost of buying a home extends beyond the purchase price.Consider additional expenses like legal fees, agency fees, survey plans,property taxes, and renovation costs.

7. Not Considering Accessibility and Infrastructure

A property’s location is just as important as the propertyitself. Consider proximity to main roads, public transportation, schools,hospitals, and markets before making a decision.

8. Ignoring the Role of a Lawyer

Real estate transactions involve legal processes thatfirst-time buyers may not fully understand. Hiring a property lawyer ensuresyou don’t sign fraudulent or misleading agreements.

9. Overstretching Your Budget

Many first-time buyers make the mistake of overcommittingfinancially. Ensure that your mortgage or purchase plan aligns with yourfinancial capacity to avoid future stress.

10. Not Negotiating the Price

Prices in Lagos real estate are often negotiable. Don'taccept the first offer; instead, bargain smartly or let your agent negotiate onyour behalf.

Conclusion

Avoiding these common mistakes can save first-time homebuyers in Lagos from legal troubles, financial burdens, and disappointment.By conducting thorough research, verifying legal documents, and seekingprofessional help, you can make a wise investment and enjoy a seamlesshome-buying experience.

If you’re considering buying a home in Lagos and needprofessional guidance, feel free to reach out to us for expert assistance on 📞09025865822, 08058361151, 08088770781
✉ Sales@uragarealestate.com

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