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Buying your first home is one of the biggest financial decisions you will make as a first-time homebuyer. Most of us want a home that best befits our family not knowing that they are other considerations that need to be put into consideration. It is pretty cool to consider a property that will specifically suit your family but on the other hand, you need to as well aim at a property for the foreseeable future. However, here are vital steps to consider on your journey to owning your first home.

Circumstance to consider before you buy your first home in Nigeria.

1. Have A Budget: Having a budget might either make you afford the property or not. It is subjective, in a situation where you can’t afford the property that meets your need, you might want to adjust your budget. It makes you have a clear goal.

2. Keep In Mind Your Monthly Income: Your monthly income will determine whether you are to consider a house with flexible payment plans, usually off-plan houses. The good thing about off-plan housing projects is that you tend to buy below market value. In addition, buying a fully finished house is not a bad idea as well, it all burns down to your income.

3.Source for finance via a mortgage institution: A mortgage is a loan provided by a bank or mortgage institution that enables an individual to purchase a property. An analysis of how mortgage works are that a potential buyer borrows money from a mortgage institution or bank, the lender uses the money to fund some or all the cost of buying the home. The lender will pay the amount borrowed and interest payment at an agreed time. Before any mortgage institution in Nigeria can lend you money, they have to carry out their due diligence to confirm the authenticity of the property.

Continue reading: https://www.thinkmint.ng/buyrealestate/factors-to-consider-as-a-first-time-home-buyer-in-nigeria/

A survey plan is another property document that is important for every property transaction. It gives an accurate measurement of a parcel of land and also describes it. The survey plan is just like a map of a property as it spells out the location where a particular property is located. As far as Nigeria is concerned, carrying out due diligence without the survey plan is not complete because the survey plan will save you a lot of headaches before you move ahead. If you find yourself in a situation where you are not been provided the survey plan for verification on demand, it is advisable that you should avoid such transactions.

Having said all these, let us take a critical look at what truly a survey plan is, its types, its features, how much it costs in Lagos.

A survey plan is a legal document that spells out the accurate measurement of a parcel of land. Registered surveyors are usually responsible for issues related to the survey plan. However, in running a search on a property, the survey plan is what will be taken to the land bureau for geographical verification of the property.

The cost of producing a survey plan differs from location to location and the size of the land. Also, the cost of the survey is regulated by the Nigeria Institution of Surveyors and Surveyor Council Of Nigeria. The price of a survey plan in Lagos varies from one zone to another.

Features of A Survey Plan
A good survey plan must have the following features:

1. Name of the owner of the land surveyed by the surveyor.
2. Size of the surveyed land
3. Address of the surveyed land or description
4. Beacon numbers
5. A registered seal
6. Signature of the surveyor and date it was drawn up
7. Survey planned number
8. Stamp showing that the land is free from Government acquisition or not.

Continue reading: https://www.thinkmint.ng/buyrealestate/what-you-need-to-know-about-survey-plan-in-nigeria/

A mortgage is a loan provided by a bank or mortgage institution that enables an individual to purchase a property. Mortgages allow home buyers to pay for houses in installments. Despite that, the problem is they are not readily available to home buyers. An analysis of how mortgage works are that a potential buyer borrows money from a mortgage institution or bank, the lender uses the money to fund some or all the cost of buying the home. The lender will pay the amount borrowed and interest payment at an agreed time. Before any mortgage institution in Nigeria can lend you money, they have to carry out their due diligence to confirm the authenticity of the property.

Types of Mortgages In Nigeria

Mortgages in Nigeria is attributed to real estate and it can be classified into two

1. Residential Mortgages: The loan provided by a mortgage institution allows a potential homeowner to buy a flat, house, or land to build a property. On the other hand,
2. Commercial Mortgages: This is the loan provided by a mortgage institution to business owners to secure commercial real estate such as; warehouses, offices, factories, retail outlets, e.t.c
The good thing about mortgages is that they help the citizens of a country to reduce their housing needs which is one of the major needs in the Maslow hierarchy of needs.

Mortgages can be gotten in some selected places in Nigeria such as Abuja, Lagos. The mortgage rate in Nigeria is between 20- 27% if you deal with regular banks but ranges between 6-9% when borrowing from National Housing Fund.

Requirements To Secure Mortgage In Nigeria

The following are required to secure a mortgage in Nigeria

a. Copies of document of the property you want to purchase
b. Introduction letter from your employer or company
c. Bank account statement for the last six to twelve months.
d. Produce a paycheck for the last three-four months to show that you have a good steady income.
e. The lender will produce a valuation report which shows the value of the property. This is done by a property surveyor that will look at its location and state to set value.

Continue reading: https://www.thinkmint.ng/buyrealestate/mortgage-loan-in-nigeria/

Below are the process of how to buy a house with a mortgage in Nigeria

1. Save an initial deposit: Initial deposit of the house you want to buy varies and this depends on the real estate company or developer you are approaching. Also, you need to be aware of the requirement of the mortgage institutions you are approaching.

2. Ensure you can afford it: Making more research on mortgage terms and conditions will also go a long way as it tends to make you more knowledgeable. Usually, repayment of mortgages is required for a certain number of years. You need to be sure if your income can afford to pay back the mortgage. In addition, some mortgage institutions especially banks have mortgage calculators on their websites which will go a long way in allowing you to understand how much you can pay as regards mortgage each month.

3. Identify house buying schemes: House buying schemes are aimed at helping home buyers get access to mortgage loans at a subsidized interest rate. E.g Federal Housing Authority (FHA) mortgage bank, a primary mortgage institution that aims to mortgage facilities to individuals and corporate bodies towards financing, acquisition, renovation, and development of dwelling houses, and commercial and industrial properties.
4. Start sourcing for properties: When looking for properties, ensure you looked for properties that can be financed through a mortgage. Usually, off-plan projects or properties have mortgage plans in place.

continue reading: https://www.thinkmint.ng/buyrealestate/buy-house-with-a-mortgage-loan-in-nigeria/

Short let apartment describes fully furnished luxury apartments that are rented for a short period of time, usually by the months or weeks. Despite the fact that investors have seen it as one of the quick ways to get rich in real estate, some people are not aware that such an apartment exists. Short let luxury apartment in Nigeria ranges from bungalows, duplex; terrace, detached or semi-detached, studio apartments.

However, these kinds of apartments can be found in some selected places in Nigeria; Lagos, Abuja, Portharcourt e.tc. Although, some investors are not aware of the benefit they start to gain due to a lack of information. This is why we will be enlightening you on the investment benefit of short let homes.

Benefits of Investing In Short Let Apartments In Lagos, Nigeria.

Below are the advantages of investing in a short let apartment in Lagos.

Increase in property value: Nowadays people don’t leave their property vacant without getting any benefits from it, instead, they rather rent it out for months to make an extra income. On the other hand, tenants would rather deter a hotel for short let apartments because of the comfort they tend to get, unlike a hotel where you are left with few home appliances like a fridge, kettle, and Tv. However, location matters when investing in short let homes.

Increase income potential: Short let apartments in Nigeria can also serve the benefit of the direct income stream. This because there is no limit to the amount you make weekly or monthly. And don’t get this is possible in places with high foot traffic.

Continue reading: https://www.thinkmint.ng/buyrealestate/short-let-apartment-in-lagos/

If you are an investor, I am sure that you would have stumbled on different land for sale in Ibeju lekki on any social media platforms. But have you asked yourself these questions, where is Ibeju Lekki situated? What are the developments currently going on in Ibeju Lekki? Is Ibeju Lekki a safe place to invest? and so on.

Although, it has been forecasted by experts that lands or properties in Ibeju Lekki will sell for 40 million naira in the next 10 years. This is not just a blind forecast but due to the development that is currently going on. Before we move further, lets us educate you about Ibeju-Lekki.

Ibeju lekki is one of the divisions of Lagos state and it is a local government area of Lekki. The industrial development in Ibeju Lekki is ongoing which includes; Dangote refinery, Lekki international airport, Lekki free trade zone, Pan Atlantic University, and so on.

Ibeju Lekki, the next hot spot in Lagos state, has attracted many real estate developers, investors, and other industry experts. Despite all these, it is also pertinent to also beware of a committed location where you should not buy land in Ibeju Lekki.

Locations to Avoid When Buying Land or Properties In Ibeju Lekki

There are dubious location you need to avoid when you want to buy properties in Ibeju Lekki, some of these locations are;

1. Ode Omi: Ode Omi in Ibeju Lekki is a boundary between Lagos and Ogun state. The majority of the landed properties here have been aside for THE FUTURE SMART CITY in Ibeju Lekki. The SMART CITY is a deliberate attempt by the Lagos State government to establish strong convergence between technology, economic development and also to develop smart, globally connected knowledge-based communities. Land fraudsters have been selling off those lands for money. This is why you need to be careful when investing in this location.

2. Igbekodo village: This another location in Ibeju Lekki close to Siriwon Village before the upcoming La Campagne Tropicana Beach Resort. This is one notorious place where you find fraudsters reselling people’s land without impunity. So ensure you do your due diligence before you buy land in this location of Ibeju Lekki so that you won’t fall victim to a land scam.

Continue reading: https://www.thinkmint.ng/buyrealestate/land-for-sale-in-ibeju-lekki-places-to-avoid/

There are several places to buy a property in Lagos, but what matters is knowing where to buy for good appreciation value. Land investment is one of the most profitable ventures in Lagos and subsequently, Nigeria.

Here is a list of top spots to consider when planning to purchase Land in Lagos

Ibeju Lekki: By most people in the real estate sector this area has already been termed the next Lagos due to the high volume of investments and infrastructure development going on by both the public and private sector. Making it a hot spot for purchasing Land, land there already sells in the range of a million-plus and this will increase further as more investments and capital projects by the government are done there.

Epe: close to the Ibeju lekki axis this is also a very lucrative place to purchase land as the direct investment and inflow of projects and investments in Ibeju lekki would directly affect land appreciation in Epe. Epe is one of the good places to buy property in Lagos. Owning a property in the developing part of Epe is a keystone to wealth.

continue reading: https://www.thinkmint.ng/buyrealestate/top-spots-to-buy-land-and-property-in-lagos/

Epe is one of the major divisions in Lagos state located on the northern side of the Lekki lagoon and few kilometers from Ibadan city. A place for the export of fish, maize, cassava, coconuts, vegetables, rubber, palm produce, and so on. The primary occupation of its indigent is fishing Real estate investment in Nigeria is an investment that is ever-increasing in value. In addition, Epe is the hometown of the former governor of Lagos State, Governor Akinwunmi Ambode.

Investing in landed properties in Epe is now a clarion call to investors who want to make massive wealth from property investment in Nigeria. It has been projected that by 2023, Epe will emerge as Lagos industrial hub and mega smart city. Prices of land in Epe are fast appreciating.

REASONS WHY YOU SHOULD BUY A PROPERTY IN EPE, LAGOS.

Below are reasons why you should buy land in Epe

Epe is part of the location that is not far from the Lekki free trade zone. The Lekki free trade zone is one of the major conservation foundations which covers a large hectares of land. Its function is to reduce the trade barriers between Nigeria and other countries. The free zone is authorized by both the Federal Government of Nigeria and the Lagos state government. In lieu of this, properties in Epe are fast appreciating because several companies are investing due to the proposed and ongoing development. Also, Epe is favorably situated close to the city center, The Alaro city which covers more than 2000 hectares of land in the Lekki free trade zone. The Alaro city has areas for warehousing, schools, hotels, offices, and healthcare facilities

Continue Reading: https://www.thinkmint.ng/buyrealestate/why-buying-land-in-epe-is-a-good-investment/

Have you ever come across a sophisticated real estate listing ad or drove past by it and all you could do was to appreciate its beauty without necessarily knowing what that kind of listings or home is called? The true definition of a dream house differs from people, some attribute it to the interiors, facilities or amenities, locations. But what exactly describes a luxury home in Nigeria? This article describes in minute details what a luxury Nigerian home looks like with pictures to give a vivid understanding.

Before we dive into that, let us describe a luxury Nigerian home or house. Luxury, as the word implies is similar to class, elegance, style. Luxury homes are homes that beget elegance, style, and class to an individual.

luxury property in Nigeria

There are several luxury homes or houses in Nigeria. A good number of luxury properties or houses in Nigeria can be found in Lagos, Abuja, Port Harcourt, and so on. Luxury properties appreciate more than any other properties and they range from different house types; bungalow, duplex, mansions e.t.c

Having enlightened all these for you, let us now dive into the features or characteristics of luxury homes or properties in Nigeria.

Continue reading: https://www.thinkmint.ng/buyrealestate/features-of-luxury-property-in-nigeria/

Are you a first-time homeowner or renovating the old one and you are looking forward to a house design in Nigeria for the house of your dream? It’s generally known that people are fascinated by sophisticated housing designs in Nigeria. Although, most sophisticated and beautiful housing designs are usually owned by top personalities like celebrities, government officials, managers, CEOs, etc.

No matter how sophisticated a house can be, certain principles need to be put into consideration.

Important Principles To Consider For Your Housing Design
These principles include:

1. Location: Location plays a very important role in real estate investment, especially if you are looking forward to generating cash flow income from your investment. No matter how sophisticated the house design is, a good location will surely affects its value.
The Exterior Design: This is also another principle that needs to be considered. Attention to the quality of the exterior design, don’t forget that quality also matters to the interior. The quality of the elements used in designing will air the beauty of the house.
2. Balance: The exterior part of the house matters in its arrangement. A good floor plan plays an important role in the balancing. The size, shape, color, and texture have an impact on the visual weight of the house. A look at the elevation of your house should give an idea of the interior design.

Different Types Of House Design In Nigeria

Below is a list with pictures of the different types of house design that are popular in Nigeria;

Bungalow Design: A bungalow is a small house or cottage that is either single-storey or has a second storey built into a sloping roof (usually with dormer windows), and maybe surrounded by wide verandas. It is one of the common house design types in Nigeria. This type of house design comes with more space.

Glasshouse design: One good thing about these house design types is that they are beautiful with an extravagant style. Glass houses are usually good when situated close to a beach. It’s a modern house design as it gives you a perfect look at the beach or the sea. They are usually owned by top personalities.

Mansion design: Honestly, mansion house design is also a luxurious and modern house design in Nigeria. Every room is so spacious and well sustaining. It offers you a sense of prestige and pride of ownership with a comfortable lifestyle.

Container Homes: This kind of home is built with shipping containers. Asides from the fact that the steel is strong, it also helps to withstand harsh weather conditions. They are mobile, unlike other housing designs. Since metals conduct electricity, electrical works for this type of house need to be done by an electrician conversant with container homes.

Deco design: This housing design was influenced by the bold geometric forms of cubism. The design first appeared in France prior to the world war. Its design combines age imagery and materials. This design is exhibited by a majority of banks, hotels, companies, mosques, etc, some of which are Civic center in Victoria Island; National Theatre Iganmu, etc

Continue reading: https://www.thinkmint.ng/buyrealestate/the-secrets-to-house-design-in-nigeria/

Buying a home in Lagos is the biggest financial decision one can make. As far as Lagos is concerned, it is the dream of many Lagosians to own a home, be it a bungalow, duplex, or apartment. As we all know home is one of the major necessities of life because it gives shelter, security. Water damage from leaking roofs, pipes is a defect that may pose a potential risk to occupants. It is sometimes important to hire a plumber to check all plumbing fittings before you make a deposit for the home you desire.

However, this article will be giving you insight into spots to look out for water leakages in your home.

Vital Spots To Identify Water Damage When Buying A Home In Lagos.

In the bathroom: This is one of the most common places where water damage is evident. Water from the bathroom settles in the wall when there is no easy passage to the drainage systems. Over time, this results in mold. This may cause some health challenges such as skin, eye, and nose irritation.

In the kitchen: It is crucial to occasionally check for leakages under the kitchen sink and pipes. If there is any, it may result in the unhygienic fungus that will later breed cockroaches. This might eventually lead to taking unhealthy foods which will cause danger to health.

In the Ceiling: Regular maintenance of water storage tanks on the top of the building will also help to avoid leaking roofs. Water storage thanks tend to pose significant leakages over time and if care is not taken on time, it can spread through the ceilings and every corner of the wall. This can later become difficult to control.

Continue reading: https://www.thinkmint.ng/buyrealestate/factor-to-consider-before-buying-a-home-in-lagos/

Real estate investment in Nigeria is an ever-increasing –value investment that must not be slept on. Many investors find it difficult to invest in real estate because of the fear of failure, they are being skeptical of investing due to the fear of being duped or scammed by fake real estate agents or companies or notorious land grabbers. However, others believe that real estate investment in Nigeria requires millions of Naira to start. This is not totally true because one of the ways to hacking real estate investment is by investing in developing places that have huge potential to increase returns on investment. For instance, Ibeju-Lekki, an upcoming area of Lagos is going to inhabit a billion-dollar project which cut across Epe too. With this, Ibeju-Lekki has good investment prospects. It’s no gainsaying that the real estate industry in Nigeria is a very profitable industry that has attracted both local and foreign investors.

Important Factors To Consider When Investing In Real Estate In Nigeria
1. Real Estate Acquisition

This starts with carrying out due diligence to discover issues related to the property. The service of a real estate lawyer is usually required in this case for proper guidance. After this has been done, the transaction of property transfer has to be duly signed by both parties.

continue reading: https://www.thinkmint.ng/buyrealestate/understanding-real-estate-investment-in-nigeria/

Over the last few years, property investors and first-time homebuyers do check online websites for a property that interests them before they can buy any property in Nigeria, putting into consideration that there is a need to carry out duly diligence. This had led to the evolvement of several real estate websites. This list is mentioned based on genuinity of the brand, user experience, and google rankings. However, the list is not in any particular order.

Top Five Property Websites In Nigeria
If you’re looking to own a property in Nigeria, below is a list of websites you should go for. This list includes:

Nigeria Property Centre: They aim to be the place for Nigerian property seekers to find details of all properties available to buy or rent. Properties on this platforms are posted by agents, that is the platform have created a significantly effective way for agent and prospective clients to meet. In addition to that, the Nigeria Property Centre allows property hunters to find up-to-date property information, available for free, accessible 24 hours a day to anyone with internet access, and far more complete in terms of the number of properties and depth of detail on each property than through other traditional advertising media. Nigeria Property Centre is one of the leading property websites with lots of users, advertising members, and properties. Their advertisers are property or estate agents, letting (rental) agents and real estate developers who offer properties within Nigeria for property hunters.

Thinkmint Nigeria: Thinkmint Nigeria is a real estate marketing company that is in partnership with top and genuine real estate companies in Lagos, Nigeria. Thinkmint Nigeria offers the Real Estate Discussions and Awards which is popularly known as REDA ,Real estate transactions, digital marketing, Grow Your Wealth with Real Estate Show, and Real life Magazine. Thinkmint Nigeria has helped over thousands of home buyers to solve their real estate needs by securing a genuine real estate investment that yields good returns with a good flexible payment plan option. For the best off-plan and land properties in Nigeria, You might want to consider them. They also give access to the best mortgage plans.

Click here to continue reading: https://www.thinkmint.ng/buyrealestate/best-property-websites-in-nigeria/

If you are buying or investing in property in Lagos Nigeria, it is required that you inspect the property in question. A property inspection can be done physically or virtually because we are now in the digital era whereby you can inspect a property in Lagos Nigeria from abroad. However, it is quite unfortunate that some property investors do not take the time to inspect the property they are buying due to the fact that they are easily carried away with the excitement of buying a new property without necessarily putting into consideration some factors that will aid their decision making.

Property inspection in Lagos Nigeria is an integral part of the home buying process because if done rightly, it saves you a lot of money, energy, and time in the future. This article is meant for people who are willing to buy or invest in a property for the first time or to people who have purchased different properties in the past, property inspection is highly recommended.

Without further ado, let us take a sneak peek into the reasons why you should not underrate property inspection in Lagos Nigeria.

It reveals a critical defect of the property: Property inspection uncover the condition of the property. These defects will aid in raising objections about the property which will help in your decision-making of buying a property. These defect ranges from poor plumbing and electrical fittings, cracked walls and so on if it’s a house.

Knowledgeable about the property: Inspecting a property you want to buy will make you have more information about the property you want to buy and at the same time give you peace of mind. You feel more certain about your investment in terms of the location the property is situated, the safety of the neighborhood, and so on.

Aware of future cost: Property inspection gives you more details of the other costs you need to pay before buying a property in Lagos Nigeria. By identifying the defects a property has, it gives you an idea of the forecast expenses and budgeting decisions.

Click here to read more: https://www.thinkmint.ng/buyrealestate/property-in-lagos-nigeria/

Buying a house is considered a key aspect of the Nigerian dream. This can be very challenging especially for a first-time homebuyer. Over the years, houses in Nigeria have evolved in style, sizes, shapes, and forms. These range from villas to mansions to duplexes and bungalows. With the improvement in technology, there now smart homes that has to maximize home security and remote control of home functions. Choosing the perfect home for your family requires making sure it fits their needs and style of living.

However, it is always better to request the service of a real estate agent when looking to buy houses in Nigeria.

This article undresses the different types of houses built in Nigeria today with their pictures so that you can have an insight, especially if you are a Nigerian abroad who is looking up to having a suitable property in Nigeria.

Types of houses in Nigeria.
Bungalows: A bungalow is a small house or cottage that is either single-storey or has a second storey built into a sloping roof (usually with dormer windows), and maybe surrounded by wide verandas. Bungalows can be of different types; detached, semi-detached. A detached bungalow is a free-standing bungalow within the plot of land. It does not share a common wall or roof with its neighbors while A semi-detached bungalow is a pair of bungalows built side by side, sharing a common wall called a party wall.

click here to read more: https://www.thinkmint.ng/buyrealestate/type-of-houses-in-nigeria/

Every real estate agent wants to go into business in order to be successful forgetting the fact that to be successful, you need to have certain skills that stand you out from the thousands of real estate agents in Lagos who specialize in both commercial and residential real estate.

The question is what are the necessary skills needed to be a successful real estate agent in Lagos Nigeria? Some of these skills include the following:

Integrity: This is the most important factor that any successful real estate agent in Lagos must-have. Can people trust you with their millions? Being dishonest to your clients can affect your real estate career so fast. Also, no one wants to deal with dubious real estate agents. If you are looking to grow fast in your real estate career, then you need to be honest with every prospective client you come across.

Communication skills: As a real estate agent, being able to communicate effectively is another skill you need to acquire. You must be able to listen attentively to identify your client’s needs and proffer a property that truly solves their problem. In addition to that, he or she must be able to negotiate the deal so both parties can participate.

Product Knowledge: As a successful real estate agent in Lagos, you must have knowledge of the product you are selling in terms of the neighborhood where the property is located, major landmarks, property terms and conditions, and so on.

Click here to read more: https://www.thinkmint.ng/buyrealestate/six-6-tips-every-successful-real-estate-agent-must-have/

Real estate fraud in Lagos keeps rising and it has affected a lot of victims. Investors have been defrauded of their hard-earned money by fake real estate companies, agents, and omo-oniles, popularly known as land grabbers. This is why it is always advisable to carry out due diligence before you buy any property in Lagos. With this in mind, we have prepared for you fifteen critical questions to ask a property seller when conducting due diligence in order to avoid being a victim of a real estate scam in Lagos. However, do note that these questions are not limited to the list. Some of these questions include the following:

What is the title of the property or land? This makes you know whether the property you are buying has a titled document or not.
Who are the developers of this property? This question is vital so that you can know who you are dealing with and as well carry out research on them.
Have you visited the land or property in question? This makes you know whether the person or agent you are contacting truly has product knowledge of the property.

Where is the property situated?
If land, what is the topography of the land? By asking this question, you will know if the land or property is dry or swampy land.
Request for the survey plan of the property for investigation.

What are the hidden charges or statutory fees after payment of the property? Statutory fees make you know of the other charges such as the deed of assignment fee, the survey fee, and the developmental fee. However in the case of a house, always ask for the monthly service charge.
Are agency and legal fees required?. If you are dealing with an agent.
Does the property have a building plan?. This is necessary if you are buying a house.

Continue reading: https://www.thinkmint.ng/buyrealestate/critical-questions-to-ask-when-buying-real-estate-in-lagos/

Recently, the Nigerian real estate industry has experienced a boom and this has led to an increase in the number of real estate agents or realtors in Nigeria. While some are there to solve your real estate needs, others are just to dupe you of your hard-earned money. Honestly, anyone can fall victim when dealing with fake realtors or real estate agent because it’s not written on people’s faces. However, there certain features or signs you can use to identify a fake realtor.

Before we dive into that, let’s look at who a realtor or real estate agent is? A real estate agent or realtor is a licensed professional who represents both buyers and sellers in real estate transactions. The big question is, do Nigerian realtors have a license? Yes, not all, while some have others don’t and for the fact that they do not, that doesn’t make them totally unprofessional but it’s advisable for realtors or estate agents to have a license or certification in real estate.



Qualities of real estate agents or realtors in Nigeria, that you can deal with

Honesty and Integrity: Being honest is crucial to a successful real estate career
Problem solver: A true real estate agent must be able to proffer solutions to clients, problems at all times.
Engaging personality: A good real estate agent or realtors must have a great attitude, confident, and knowledgeable of his product.
Attention to details: It is imperative for real estate agents to pay close attention to client needs, organized, and also communicate well.
Knowledge of the Nigerian real estate market: Real estate agents must have adequate knowledge of the Nigerian real estate market in terms of properties that are on hot sales, properties that increase more in value, and so on.
Knowledge of Nigeria real estate laws: This is also crucial to deal with real estate agents that know about the laws backing owning a property in Nigeria.

Having undressed into details the qualities you should expect from real estate agents in Nigeria. Let us now show you how you can easily spot the fake ones.

1. They have no license or authorization from the real estate companies they are working for.
2. They have less knowledge of the product they are selling.
3. They do not pay attention to details and don’t answer your questions in a clear manner.
4. They make sure that you have no or little information about them
5. They ask you to pay into their bank account details not bearing the company’s name.
6. They find it difficult to give a detailed account of the payment plan of the estate you want to buy.

Continue reading here: https://www.thinkmint.ng/buyrealestate/identify-fake-real-estate-agents/

Hunting for a house in Lagos is a herculean task because it is time-consuming. If care is not taken you can spend months looking for a suitable house that meets your needs. However, when you are hunting for a house in Lagos, you need to exercise a lot of patience. It is an obvious truth that house demands in Lagos exceed supply.

This post exposes you to tips on how to hunt for a house in Lagos.

Have a goal: Before you can decide to start house hunting in Lagos, it is pertinent that you have a goal you want to achieve. Decide on the type of house you intend to buy be it an apartment, duplex, or bungalow. Also, location plays an important role when buying real estate in Nigeria, so it is vital that you have a particular location in mind.

The Environment: This is another factor you need to consider when hunting for a house in Lagos. You need to have some information about the location because your safety is important too. No one wants to buy a house in an environment with a vast criminal record. Also, do not forget to make sure the environment is flood-free.

Continue reading here: https://www.thinkmint.ng/buyrealestate/house-hunting-tips-you-must-know-when-buying-a-house-in-lagos/

Hunting for a house in Lagos is a herculean task because it is time-consuming. If care is not taken you can spend months looking for a suitable house that meets your needs. However, when you are hunting for a house in Lagos, you need to exercise a lot of patience. It is an obvious truth that house demands in Lagos exceed supply.

This post exposes you to tips on how to hunt for a house in Lagos.

Have a goal: Before you can decide to start house hunting in Lagos, it is pertinent that you have a goal you want to achieve. Decide on the type of house you intend to buy be it an apartment, duplex, or bungalow. Also, location plays an important role when buying real estate in Nigeria, so it is vital that you have a particular location in mind.

The Environment: This is another factor you need to consider when hunting for a house in Lagos. You need to have some information about the location because your safety is important too. No one wants to buy a house in an environment with a vast criminal record. Also, do not forget to make sure the environment is flood-free.

Work with an agent: Over time, real estate agents have helped home buyers and investors to look out for properties that meet their needs. Despite, the fact that you will be assisted by agents, it is crucial to avoid sweet talks from agents when you don’t like a house so that you won’t regret later.

Examine the house itself: Some houses for sale in Lagos have defects such as poor plumbing, poor electrical fittings, cracked walls and ceilings, and so on. You have to ensure that you inspect the house thoroughly before you sign an agreement.

Read more: https://www.thinkmint.ng/buyrealestate/house-hunting-tips-you-must-know-when-buying-a-house-in-lagos/

Owning a piece of land in Lagos has been seen to be a good investment as it is one of the most sought-after assets especially when you invest in locations where land appreciates fast. Despite the fact that owning a piece of land is one of the most sought-after assets, yet most people have been cheated due to their lack of knowledge about the size of a standard plot. In addition to that, individuals or investors who own a landed property in Lagos are always considered to have a competitive advantage as he or she can become financially stable in the future.


It is pertinent to also note that owning land in Lagos can be so frustrating and this can be attributed to encumbrances such as; land grabbers problem, government ownership, and family squabble, and so on.

However, the sizes of standard plots vary from one location to another due to the availability of land in that area or location. Land sizes in Lagos have been affected by quite a number of factors; economic investment and development patterns, human factors, environmental factors e.t.c.

As a first-time investor or foreigner willing to buy land in Lagos Nigeria, the very first thing you need to understand is the system of land measurements in Lagos.

This article focuses on understanding the different land sizes in Lagos, Nigeria. Without further ado, let us get right into it.

If you are buying your plot of land, it is vital to ask the real estate agent or consultant questions about the plot. Such question includes;

What is the size of a plot of land? What is the size in square meters?


What is a plot of land: This is a term used to describe any piece of land size in Lagos. A plot can be measured in square meters or feet, acres, hectares.

The appropriate plot for house construction is usually 50ft X 100 which can accommodate a standard house in Lagos. However, the two international standard units of measurement for a plot are; Imperial( feet and acres) and metric (meters and hectares).


Some Common Land Measurement Units

Feet: The singular, foot. It is an imperial unit of measurement for length and its equal to twelve inches or approximately 30.5 centimeters.

Acres: This is another imperial unit of measurement used or a large tract of land usually the size of any rectangular plot giving a total of 4,046sqm or 43,560 sq ft.

In Nigeria, 6 plots of land make an acre.

For instance 5 acres = 5 X 6plots= 30 plots

Hectare: A unit of measurement used for a large tract of land. A hectare is about 2 and a half acres of land.

Meter: This is the basic unit of length measurement. It is equal to 100 centimeters.

Square meters: This is used to measure the areas of rooms to houses to lands. The square meter is a fundamental metric unit to the area.


Click here to continue reading: https://www.thinkmint.ng/buyrealestate/understanding-land-sizes-in-lagos/

Investing or buying a luxury Nigerian homes has been considered as a safe investment, whether you intend to own or flip because, in this current state of the economy, luxury real estate investment has been seen as a vehicle to wealth creation especially to investors who want to diversify their investment portfolios.

However, this is only possible if done right and with proper guidance. This article focuses on The Guide To Buying Luxury Nigerian Homes. But before we go further, let us mentally UnCloth into minute details what is meant by luxury real estate.

What is Luxury Real Estate?
The term luxury, according to a dictionary meaning, simply means a state of elegance or comfort especially when involving a great expense.

The term, real estate on the other hand simply means real property which involves land, house, or commercial property like a warehouse, schools, and so on.

Now matching the two definitions together, Luxury real estate refers to real property that gives you comfort and elegance. Also, from a collective definition.

Luxury real estate is so much more than location, that is luxury real estate must be positioned in locations where high-end individuals stay.

Luxury real estate is conscious living, by this I mean, owning a home that has a positive impact on the community.

Luxury real estate is experiential, this means that owning a home that is more sophisticated, such that every corner of a home brings a memorable experience.

Click here to continue reading: https://www.thinkmint.ng/buyrealestate/luxury-nigerian-homes/

Statistics as of 2020 show that an average Nigerian is willing to rent than buy a piece of real estate in Nigeria. This can be attributed to the demand side of Nigeria’s housing market which was analyzed based on the level of income and demographics. As of 2019, the Nigeria population exceeded 200 million in which the people in the urban areas were larger than the people in the rural areas.

In lieu of this, the limited affordability of housing for many Nigerians, most especially the ones in the urban areas is due to low incomes as a result of low economic recession and exchange rate devaluation that has reduced Nigeria’s purchasing power. And this can only be curbed if we have progressive policies and programs can be made to average Nigerians as to how they can have access to affordable land and a variety of housing options.

With the increase in growth in the Urban areas more than a million housing opportunities will be needed.

Having analyzed that, the big question is should I buy a piece of real estate in Nigeria or continue to rent?

Renting has its own benefit due to the flexibility and little to no responsibility. Although people always think buying real estate is more like a sounding decision than to rent. In addition, renting means you can move out immediately after your lease end and on the other hand, you can also move once your landlord or landlady sells the property or turn it into something else.

Another good thing is that if you rent, you tend to know the amount of money you are paying monthly. Also, the cost of maintenance of your housing is always done by your landlord.

Click here to continue reading: https://www.thinkmint.ng/buyrealestate/buy-real-estate-in-nigeria/

Are you currently willing to buy a house in Nigeria or you are currently moving or planning to relocate? Then you might want to consider the metropolitan city of Lagos due to the lifestyle which includes; the exotic beaches and resorts, beautiful shopping malls, owanbe party, business activities, fashionable residential enclave, to mention but a few. If you are looking to reside in a serene and peaceful neighborhood, then this list explores the best places to stay or live in Lagos.

Normally, Lagos itself is loosely divided into two geographical areas, Lagos mainland, and Lagos Island.

Lagos island is the location or area of Lagos separated from the “Mainland” main channel draining the lagoon into the Atlantic ocean, and it’s connected by the bridges, notably the third mainland bridge and the Carter bridge. Living on the island is expensive because of its luxury living. On the other hand, is the Lagos mainland is home to many because it offers more affordability than the Lagos Island to an average Lagosian.

Without further ado, let us now explore the different places to live in Lagos.

Ikoyi: Ikoyi is a place located on Lagos Island and a home of multi-billionaire investments and properties. Ikoyi is connected to Victoria Island, annexed by The Falomo bridge. It housed most of the Government infrastructures and projects, exotic beaches and resorts, expensive real estate, increased commercial activities ranging from banks, shopping complexes, and so on. It’s a fashionable enclave for upper-class citizens.Ikoyi is a place to live in Lagos beacuse, its crime free and a very safe neighbourhood.

Lekki: It’s a city in Lagos state located some kilometers away from Ikoyi and its environs.The development in Ikoyi span through the Lekki axis which led to expensive real estate properties. Lekki also houses fashionable real estate properties, shopping malls, banks, schools to mention but a few.

Ajah: This is also a part of Lagos Island and it is one of the most affordable places in Lagos Island as middle-class individuals reside here too. This place also houses some modern and expensive real estate investment. Although some part of Ajah is affected by the flood as of 2021 there has been some development to curb that. Ajah is also boastful of sizeable shopping malls, restaurants, schools, bank e.t.c

Gbagada: This is a place located on the Lagos Mainland sharing boundary with Bariga and situated between Oshodi and Oworoshoki. Its neighborhood caters to the middle class and upper-class individuals. Gbagada environs are also boastful of banks, fashionable houses, schools, offices, hospitals, supermarkets e.t.c. Living here is affordable compared to Lekki and its environs.

Ikeja: The capital of Lagos state, a place on the Lagos mainland for computer markets known as Otigba in which to some, it’s still known as Computer Village. The Muritala international airport is located here along with Local government administrative headquarters. Being the capital of Lagos State, Ikeja is the seat of the Lagos State Secretariat known as “Alausa” and the offices of the Governor and deputy governor of Lagos state.

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Buying an off-plan luxury property might be a turn-off for most investors because they tend to doubt the authenticity of the developers in terms of delivery and sizes of each housing unit. Although this is a normal feeling among investors because of the fear of failure that arises when investing in property. However, this may not seems right because you tend to see the approved plan for each housing unit before you can transact with the developer or the company in charge. In addition to that, you have the opportunity to carry out your housing measurement again.

This article focuses on;

1. What is off-plan property?
2. Benefits of buying or investing in an off-plan property.
3. Risks of buying or investing in an off-plan property.
4. Conclusion

Off-plan properties are properties or development that is still undergoing construction and so has not been completed yet. This implies that sometimes potential investors won’t have the opportunity to see or view a prototype of the investment they want to invest in. Although investing in off-plan properties have a lot of benefits provided that the location where the property is positioned will skyrocket investment returns.

So what are the benefits of buying or investing in an off-plan property?

One of the commonest benefits of buying off-plan property is that you tend to buy below market value. Let us take, for instance, a luxury finished four bedrooms detached duplex in Abraham Adesanya, Ajah which goes 70,000,000 on outright purchase, if off-plan, might be going for 50,000,000 and with flexible payment plans up to 18 months, with an initial deposit of 5% of the price for the duplex. Now you can see that you are buying below market value and by the time the property will be fully finished, it would have appreciated.

Another important point is that you have the opportunity to contribute your own input into things like interior decoration, kitchen finishing, bathroom tiles, and many more.

In addition, you have the opportunity to know more about the materials used in constructing the building, unlike an already completed building that might have problems ranging from cracked walls to poor plumbing works to electrical installations.

Lastly, you have the opportunity to flip your investment even before completion.

Having explained the benefits you tend to get when you buy into off-plan property, let us now look into the risk involved in buying an off-plan property

One of the major risks is Trust on the part of the developer, the trust issues arise when potential investors find it difficult to believe in the reputability of the developer or real estate company and also on what the property would look like after completion. This why some developers develop a physical prototype for potential investors to see how the off-plan would look like.

Another important risk is that the project may face delays. This problem might be attributed to funds in raising the projects. This is why you need to note in the contract the deadline for the projects. It’s also pertinent for potential investors not to violate the terms of payment between them and the developer.

In conclusion, buying an off-plan luxury property is a good investment if you invest in areas where properties appreciate faster as you will have the opportunity to get a high return on investment. When it comes to location; Lagos, Abuja, some part of Ogun state are good areas for investment as demand for residential properties keep rising in this location. Also, when you buy from the right developer that has track records of what they have achieved so far in the delivery of off-plan properties.

Finally, at Thinkmint Nigeria we advise that when buying an off-plan property, it's best to work with reputable real estate companies.

To buy a house in Lagos is the dream of most Nigerians. It is so unfortunate that investors or first-time homebuyers do experience challenges after buying their dream house. Such challenges range from poor plumbing works, cracking walls, to poor drainage systems which result in flooding of the vicinity. This is why we @ThinkMint Nigeria recommend that you carry out proper checks on the house before you make an initial deposit or sign any contracts.

However, this article focuses on;

1. Areas or location to consider when buying your dream house
2. Property documents you need to know after purchasing your first house
3. What you need to check out for when buying a house in Lagos

1. Areas or locations to consider when buying your dream home.
Lagos, which is known to be the most populous city in Nigeria as well as the second-largest in Africa is known to be divided into two regions; Lagos mainland and Lagos Island. Lagos mainland is known to comprise both rural and urban areas while Lagos Island is a majorly urban region of Lagos where most rich people stay.

Having said this, the cost of living on the island is far more expensive than on the mainland and this in return has affected the cost price of the property in this location. Let us take, for instance, a luxury three-bedroom terraced house in Ikorodu can cost less than 30 million naira while in Sangotedo Lekki costs between 35 million to 40 million. So it is always better for investors to do a little research on the property market on the location that brings good returns on investment.

2. Property documents you need to know after purchasing your first house in Lagos
Before you can have a property document after making a successful transaction on your dream home, it is crucial to know the Title of the land in which the house is built. By ‘Title’ I mean a bundle of rights in a piece of property in which a party may own either a legal interest or equitable interest.

This property title includes; Certificate of occupancy, Governor’s Consent, Government Approved Excision, Gazette, and so on.
Don’t worry, kindly keep in touch as we will put out content to help you on that later.
Having known the different land titles and you have made an initial deposit for that dream home, provided that a receipt of payment has been issued. Below are documents required after making payment for that dream home.

Contract of sale; this shows that a transaction has taken place between you and the company or developer you are dealing with.

Deed of assignment; This is a legal document that shows that the seller or developer or the company has transferred the property to you and it is always given after the conclusion of the property transaction between the buyer and the seller.

Survey Plan; This is also an important property document that helps to reveal the ownership status of the property. It spelled out the size of a parcel of land. With the survey plan, you can know if the property is committed or not.

3. What you need to check out for when buying a house in Lagos
Wall Cracks: Cracks from the wall usually happened when the developer don not put into cognizance the soil test before the foundation is been done for the property. Oftentimes, some developers believe that soil testing is a total waste of money. However, they fail to carry out a soil test and they end up doing the wrong types of foundation which may later affect the physical structure of the building. It’s vital for every property investors or first time home buyers to pay adequate attention to details in terms of the building structure, Wall cracks e.t.c

Sewage systems: Always ensure that you check the sewage systems. Ensure that it is properly channeled and that the borehole system is not close to the sewage system.

Check Plumbing Works and Electrical installations: Ensure that you test the electrical installations in order to ensure everything works fine. Also, ensure you check for water leakages because the pipes used by some developers are substandard.

Carry out your search on the property document: It’s imperative to request a scanned copy of the survey plan of the house you intend to buy so that you can verify the authenticity of the property from the Lands Registry In Alausa Ikeja. Besides, also ensure that you hired a land surveyor to check the coordinate physically as some companies tend to put uncommitted land coordinates on a committed one. In a nutshell, do dealings with reputable real estate companies that will reduce the stress and money you are to spend on property verification. At Thinkmint.ng, we provide you with genuine property in the city of Lagos.

Request for the building plan approval: It is also vital to request for the building plan of the house you intend to buy as that will guide you to know that the building complies with building laws and codes and to prevent people from just constructing as they deem fit.

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