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10 Ways to Get a Good Deal on Your Home in Nigeria by Dennis Isong

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10 Ways to Get a Good Deal on Your Home in Nigeria by Dennis Isong

 

 

 

Buying a home is one of the biggest decisions you’ll make in your life. In Nigeria, where the real estate market can be tricky, it’s important to be smart and careful when looking for a good deal. This article you are about to read will give you 10 useful tips to help you make sure you’re getting the best value for your money when buying a home in Nigeria.

1. Do Your Homework on the Area

Before you even start looking at houses, it’s crucial to learn about the area where you want to live. Different parts of Nigeria have different prices and benefits. Some areas might be cheaper but far from good schools or markets. Others might be more expensive but safer or closer to your work.

Take time to visit different neighborhoods. Walk around, talk to people who live there, and get a feel for the place.
Ask yourself:
– Is it safe?
– Are there good roads?
– How’s the electricity supply?
– Is it close to important places like hospitals, schools, or your workplace?
– What’s the community like?

2. Set a Realistic Budget

It’s easy to get carried away when you’re looking at beautiful homes, but it’s important to stick to what you can afford. Before you start house hunting, sit down and figure out your budget.

Think about:
– How much money you have saved
– How much you can borrow from a bank
– Your monthly income and expenses

Remember, buying a home isn’t just about the price tag. You’ll need to think about other costs too, like:

– Lawyer fees
– Taxes
– Repairs or renovations
– Moving costs

Make sure you have some extra money set aside for these things. It’s always better to buy a slightly cheaper house and have money left over than to spend everything on the house and struggle later.

3. Use a Trusted Real Estate Agent

A good real estate agent can be your best friend when you’re looking for a home. They know the market, they have connections, and they can help you find deals that you might miss on your own.

But be careful – not all agents are trustworthy. Here’s how to find a good one:
– Ask friends or family for recommendations
– Look for agents with good reviews online
– Check if they’re registered with the Nigerian Institution of Estate Surveyors and Valuers (NIESV)
– Meet with a few different agents and see who you feel comfortable with

4. Don’t Rush – Take Your Time
Buying a home is a big decision, so don’t feel pressured to make it quickly. Some sellers or agents might try to rush you, saying things like “This deal won’t last long!” or “Someone else is interested in buying this house!”

Don’t fall for these tricks. It’s better to take your time and make sure you’re making the right choice. Visit the house more than once, at different times of the day. This will help you notice things you might miss on a quick visit, like noisy neighbors or bad traffic at certain hours.

If you feel rushed or pressured, that’s often a sign that something isn’t right. A good deal today will still be a good deal tomorrow.

5. Get a Professional Inspection
Never buy a house without having it checked by a professional inspector. This might cost a bit of money, but it can save you from much bigger costs in the future.

An inspector will look at things like:
– The foundation of the house
– The roof
– Electrical systems
– Plumbing
– Signs of pests or termites

They might find problems that you can’t see with your own eyes. If they do find issues, you can use this information to negotiate a lower price or ask the seller to fix the problems before you buy.

6. Check All the Legal Documents

In Nigeria, it’s very important to make sure all the legal papers for the house are in order. This can be confusing, but it’s crucial to avoid problems later. Here are some key documents to check:

– Certificate of Occupancy (C of O): This shows that the government has given permission for the land to be used for housing.
– Survey Plan: This shows the exact boundaries of the property.
– Deed of Assignment: This shows that the current owner has the right to sell the property.
– Tax clearance: This shows that all taxes on the property have been paid.

It’s a good idea to hire a lawyer who specializes in real estate to help you check these documents. They can spot any problems and make sure everything is legal and correct.

7. Negotiate the Price
Don’t be afraid to negotiate! The first price the seller asks for is often not their final price.
Here are some tips for negotiating:
– Start lower than you’re willing to pay. This gives you room to go up.
– Point out any problems with the house that might lower its value.
– Be ready to walk away if the price is too high. Sometimes, showing that you’re willing to look at other houses can make the seller more flexible.
– If the seller won’t lower the price, see if they’ll include other things, like furniture or appliances.

Remember, negotiating isn’t about winning or losing. It’s about finding a price that’s fair for both you and the seller.

8. Consider the Future
When you’re buying a home, don’t just think about your needs right now. Think about the future too.
Ask yourself:
– Will this house still be good for me in 5 or 10 years?
– If I have children, will there be enough space?
– Is the area likely to improve or get worse over time?
– Could I easily sell this house if I need to move?

Buying a home that will still be good for you in the future can save you money and stress in the long run.

9. Compare Prices of Similar Homes

To know if you’re getting a good deal, you need to know what other similar houses cost. This is called “comparing comparables” or “comps” for short.

Look at houses that are:
– In the same area
– About the same size
– In similar condition

You can find this information online, through your real estate agent, or by visiting open houses in the area. If the house you want is much more expensive than similar houses, that’s a sign that it might be overpriced.

10. Trust Your Instincts
Finally, trust your gut feeling. If something feels wrong about a deal, even if you can’t explain why, it’s okay to step back and think more.

Maybe the seller seems too eager to sell quickly. Maybe the price seems too good to be true. Or maybe you just don’t feel comfortable in the house.

These feelings are important. Buying a home is not just a financial decision – it’s also an emotional one. You should feel good about your choice.

Dennis Isong is a TOP REALTOR IN LAGOS.He Helps Nigerians in Diaspora to Own Property In Lagos Nigeria STRESS-FREE. For Questions WhatsApp/Call 2348164741041

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ZENITH BANK LIGHTS UP AJOSE ADEOGUN STREET, USHERING IN THE YULETIDE SEASON

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ZENITH BANK LIGHTS UP AJOSE ADEOGUN STREET, USHERING IN THE YULETIDE SEASON

ZENITH BANK LIGHTS UP AJOSE ADEOGUN STREET, USHERING IN THE YULETIDE SEASON

 

In keeping with its acclaimed annual tradition, Zenith Bank once again set the stage for the Yuletide season with the Light-Up of Ajose Adeogun Street and Roundabout, Victoria Island, Lagos on Saturday, 23 November 2024. The Light-Up ceremony was performed by the Group Managing Director/Chief Executive of Zenith Bank Plc, Dame (Dr.) Adaora Umeoji, OON.

ZENITH BANK LIGHTS UP AJOSE ADEOGUN STREET, USHERING IN THE YULETIDE SEASON

The Light-Up ceremony is a Corporate Social Responsibility (CSR) initiative of Zenith Bank. Now in its 18th year, the beautiful Christmas decoration, which transforms the entire stretch of Ajose Adeogun Street (home to Zenith Bank’s Corporate Headquarters) and Roundabout into a breathtaking yuletide wonderland, has come to be recognized as an iconic tourist attraction, bringing visitors from far and wide who visit with their families and friends to take pictures and enjoy the ambience of the street.

Speaking during the ceremony, Dame (Dr.) Adaora Umeoji said “Over the years, Zenith Bank has hosted this spectacular event, transforming the entire Ajose Adeogun Street into a breathtaking yuletide wonderland. Our beautiful and elaborate Christmas decorations have become a centre of attraction and shared on social media platforms globally. As we light up the street tonight, we celebrate the essence of Christmas and Zenith Bank’s unparalleled CSR. Our customers will always be at the centre of all that we do in Zenith Bank.” She urged everyone to imbibe the message and spirit of Christmas which is about love, kindness, generosity and respect for humanity, and thanked the Lagos State Government for creating an enabling environment for the initiative.

She also praised the efforts of Quantum Markets, who have been responsible for the annual decorations, for their expertise and creativity in putting together the lovely decorations. In her words, “I want to thank the management of Quantum Markets for all the beautiful, creative and innovative ideas they keep coming up with. Quantum Markets always make it bigger and better every year, and we are always looking forward to it.”

Zenith Bank remains committed to furthering the economic, cultural and social development of its host communities. The bank’s sustainability and CSR initiatives are hinged on the belief that today’s business performance is not all about the financial numbers – the bank believes that an institution’s social investments, contributions to inclusive economic growth and development as well as improvements in the condition of the physical environment, all constitute a balanced scorecard.

As a testament to its contributions and social investments in its host communities and the society at large, the bank was recognised as the “Most Sustainable Bank, Nigeria” in the 2023 and 2024 International Banker Banking Awards and “Most Responsible Organization in Africa” at the Sustainability, Enterprise, and Responsibility (SERAS) Awards 2021.

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Top 10 Places Where Smart Money Flows in Lagos Real Estate in 2024 by Dennis Isong.

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Top 10 Places Where Smart Money Flows in Lagos Real Estate in 2024 by Dennis Isong.

Top 10 Places Where Smart Money Flows in Lagos Real Estate in 2024 by Dennis Isong.

 

 

Last week, my friend Chidi called me in a panic. “Bros, I just inherited ₦50 million from my extremely wealthy uncle, and my wife wants us to buy land in Banana Island!” he exclaimed. I couldn’t help but laugh. “Chidi,” I replied, “with ₦50 million, you can’t even buy a decent-sized parking space in Banana Island.” That’s the reality of Lagos real estate – a market where dreams meet practicality, and smart investors look beyond the obvious.

Top 10 Places Where Smart Money Flows in Lagos Real Estate in 2024 by Dennis Isong.

As Lagos continues its relentless expansion, new investment opportunities are emerging in previously overlooked areas. Let’s explore the top 10 real estate investment hotspots that promise significant returns in 2024.

1. Sangotedo
Once considered the backwoods of Lekki, Sangotedo has transformed into a real estate goldmine. With the completion of several major road networks and the presence of notable institutions like the Lagos Business School, property values here have appreciated by over 40% in the last two years. The area offers a perfect blend of residential and commercial opportunities, with land prices still reasonable enough for medium-scale investors.
2. Ikorodu North
Don’t roll your eyes just yet! Ikorodu North, particularly around Ijede Road, is experiencing unprecedented development. The ongoing road expansion project and the proposed Fourth Mainland Bridge access point have triggered a surge in property values. Early investors are already reaping rewards, with some reporting up to 60% appreciation in just 18 months.
3. Epe
The quiet transformation of Epe into a major industrial hub is perhaps Lagos’s best-kept real estate secret. With the Lekki Deep Sea Port now operational and the Dangote Refinery nearby, Epe’s real estate market is on steroids. Focus on areas around the Lekki-Epe Expressway and the new Epe Resort Road.
4. Badagry
History is repeating itself in Badagry, but this time with property values. The completion of the Lagos-Badagry Expressway project has opened up unprecedented opportunities. International investors are quietly acquiring large land parcels here, particularly around the Free Trade Zone area. The planned seaport project makes this a long-term investment goldmine.
5. Abijo GRA
Situated between Ajah and Ibeju-Lekki, Abijo GRA represents the new face of luxury suburban living in Lagos. The area benefits from excellent infrastructure and proximity to major developments along the Lekki corridor. Property values here have shown consistent appreciation, with a remarkable 35% increase in the past year alone.
6. Isheri North
This area’s transformation from a flood-prone zone to a prime real estate location is nothing short of miraculous. Improved drainage systems and the completion of several estate projects have boosted investor confidence. The proximity to both Lagos and Ogun states makes it a unique investment opportunity.
7. Bogije
Located along the Lekki-Epe Expressway, Bogije is experiencing a real estate renaissance. The area benefits from its strategic location between developed Ajah and the industrial hub of Ibeju-Lekki. Land prices here are still relatively affordable, making it attractive for both individual and institutional investors.
8. Agbowa
Don’t let the distance fool you. Agbowa is emerging as Lagos’s new industrial frontier. The state government’s focus on developing this area as an industrial hub has sparked interest from real estate investors. Early birds here stand to gain significantly as industrial development drives residential and commercial property demand.
9. Alimosho
As Lagos’s largest local government area, Alimosho continues to offer diverse real estate opportunities. The focus areas are around Ikotun-Igando and Ayobo-Ipaja axes, where improved road networks and the proposed rail line are driving property appreciation. The high population density ensures steady rental income for residential properties.
10. Ibeju-Lekki
Despite being an obvious choice, Ibeju-Lekki deserves its spot on this list. The area around the Lekki Free Trade Zone continues to appreciate, driven by industrial developments and improved infrastructure. However, smart investors are now looking at secondary locations within Ibeju-Lekki, particularly areas around Eleko Junction and Akodo.
Investment Tips:
Due diligence is crucial. Always verify land titles and obtain necessary documentation.
Consider infrastructure development plans when making investment decisions.
Long-term holds typically yield better returns in Lagos real estate.
Partner with reputable real estate professionals for guidance.
Keep an eye on government policies and development plans.

Remember Chidi? He eventually invested in two plots in Sangotedo instead of chasing the Banana Island dream. Six months later, a major tech company announced plans to build their campus nearby, and his property value jumped by 25%. Sometimes, the best investment opportunities aren’t in the most obvious places.

As Lagos continues its march toward becoming Africa’s premier megacity, these locations offer varying degrees of opportunity for different categories of investors. Whether you’re looking for quick appreciation or steady long-term growth, understanding these hotspots’ unique characteristics and growth drivers is crucial for making informed investment decisions.

The key to success in Lagos real estate remains the same: buy where development is going, not where it has been. As we navigate through 2024, these areas represent the sweet spot where opportunity meets affordability, promising significant returns for discerning investors.
Dennis Isong is a TOP REALTOR IN LAGOS.He Helps Nigerians in Diaspora to Own Property In Lagos Nigeria STRESS-FREE. For Questions WhatsApp/Call 2348164741041

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Why Nicholas Auto Solution Is The Leading Automotive Solution in South Africa ….Reasons To Patronise Them

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Why Nicholas Auto Solution Is The Leading Automotive Solution in South Africa

….Reasons To Patronize Them

Evan Esar said “Some men take good care of a car; others treat it like one of the family”. Interestingly, Nicholas Auto Solution is arguably the leading automotive solution in South Africa. Owned by HRH, Dennis Ainabel Iseghohimen, NAS as the company is known for excel as the haven of auto solution to all brands of vehicles.

As reflected in their mission statement which is to serve customers and always deliver the highest level of customer service; to develop their team and strive to constantly improve; and to conduct themselves  in an environmentally responsible manner, testimonies from customers affirm the fact that NAS is the best place to pamper your wonders on wheels.

Checks revealed that they provide excellence in motion with leading automotive solutions, and expertise in fast, affordable, and reliable auto services.

Why Nicholas Auto Solution Is The Leading Automotive Solution in South Africa
….Reasons To Patronise Them

According to Kailash Rabikissoon , “I highly recommend this company if you need your car serviced or repaired , the staff is very friendly and honest and they are well trained in what they do, i previously took my 335i to them for a service and I’m really impressed with their level of expertise and service”.

TK Komape commended their  Excellent customer  service.  “Clutch repair on the automatic Suzuki Dzire was  excellent. Car starter was also repaired and the car is 100%. They are professional and responsive. Recommended”

Elijah mc master “Wonderful Service treated me very well and assistance and hospitality is great.Definitely recommend this Car Service Company, Went for my Brake service and repair and am satisfied.Thank You So Much.

Services”

Shailin Naidu “Excellent service. Brought my Citroen C3 in with an overheating problem,went to multiple places and couldn’t find the cause. It’s finally sorted now”

Shakhin Dinna, “Perfect service, my car was repaired in time with excellent service from the employees”

Kaiyal Ramsamy, “Brought my citi golf in for an engine swap, pleased with the results. Thanks NAS and team”

Leigh Cooke, “Excellent service by NAS Team. Quick response, efficient repair and reasonable rates”

gloria kamana, “The service was amazing and quick

I was treated like a queen. I recommend you guys to try NAS”

Osaretin e “Dollar6ix” Asemota, “Job was perfect and service is excellent”

HRH Dennis Ainabel Iseghohimen is the Chief Executive Office of the popular Nicholas Auto Solutions in Johannesburg, South Africa. His accomplishment has made him excel amid his contemporaries.

The well-achieved engineer, HRH Dennis is also the founder of the broken wall foundation, where he caters for aged men and women in the society, in terms of welfare and shelter. However, In South Africa, he is also a strong supporter of Nelson Mandela’s foundation.

Over the years, His Royal Highness Dennis Iseghohimen has been putting smiles on the faces of people around through his foundation, the Repairer of Broken Wall Foundation, whose responsibility is to help those aged from the age of sixty and above in his community in Edo State, Nigeria. The foundation has been in the front runner to empower people with their challenges.

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