|Join Nairaland / LOGIN! / Trending / Recent / New|
Stats: 2,862,031 members, 6,866,265 topics. Date: Tuesday, 17 May 2022 at 06:01 AM
Special Announcement! Don't Buy Land In Mowe,lotto Or Pakuro For Now. / Cheapest Places To Buy Land In Lagos - Co-tenant / THE BEST TIME TO BUY LAND WAS 5YEARS AGO....THE NEXT BEST TIME IS NOW!! (2) (3) (4)
|Don't Buy Land Because Others Are Buying by drewe20(m): 12:26pm On Feb 04, 2020|
Most times people who want to buy land often fall victim of what is called Bandwagon Effect. They buy because others have bought. They use the fact that others have bought and have probably started building as a yardstick for determining if the land is good or not. They say “all this people that have bought cannot be wrong”. This is a wrong strategy and I’ll tell you why. We once surveyed a parcel of land (about 1 acre) for a client and in the process of registering the land; we found out that it was in a government committed area. We had to inform the client quickly. The man had started fencing and had invested a lot of money into the land. When we told him the status of the land and explained the implication, he thought about it for a few minutes and said “Surveyor, don’t worry. Look at these other people that are building already. As long as it’s not only my property that will be demolished when government comes, I am not bothered”. I was really surprised! But you see, this man is a young successful businessman and he probably has other properties. If he loses one property, he has others.
Before purchasing land, ask yourself if you can afford to lose your investment. If you can’t, make sure you do your due diligence on the property before paying any money. Don’t buy because others are buying. You don’t know if they have other properties aside that one.
In Lagos state, knowing the status of a land before purchase is extremely important; especially in Ibeju-Lekki & Eti-Osa local government area because the amount of committed and government acquired lands in these 2 local governments is massive.
|Re: Don't Buy Land Because Others Are Buying by drewe20(m): 6:45am On Feb 08, 2020|
|Sections: politics (1) business autos (1) jobs (1) career education (1) romance computers phones travel sports fashion health |
religion celebs tv-movies music-radio literature webmasters programming techmarket
Nairaland - Copyright © 2005 - 2022 Oluwaseun Osewa. All rights reserved. See How To Advertise. 30