You know the buzz that has been trending about things to know before buying a house in Lagos… ehen, let’s talk about it! Buying a house is one of the biggest investments you can make, and if you’re looking to do it in Lagos, there are some serious things you must consider. Lagos real estate is not for the faint-hearted; one wrong move and you may either overpay, get scammed, or be stuck with hidden costs nobody told you about.
The good thing is, this guide will help you navigate through the Lagos property market with confidence. And guess what? You can even use this guide when renting an apartment! All na collabo. Whether you’re a first-time buyer or just looking to invest, these are the 10 things you need to know before taking that big step.
1. Location is everything
In Lagos, where you buy a house is just as important as the house itself. Do you want a quiet neighborhood like Ikoyi, or would you rather enjoy the commercial hustle of Yaba? Consider the following:
- Proximity to your workplace
- Traffic situation in the area (because Lagos traffic is not smiling)
- Access to good roads, markets, and hospitals
- Security in the neighborhood
The right location can save you stress, time, and even money in the long run.
2. Budget Beyond the Purchase Price
If you think buying a house in Lagos only requires money for the house itself, think again. Other costs include:
- Legal fees (for documentation)
- Agent fees (if you’re working with an agent)
- Survey and registration costs
- Service charges (for estates with security and maintenance)
Budget wisely so you don’t get stranded halfway.
3. Verify Land and House Ownership
Lagos real estate fraud is real, and you don’t want to fall victim. Before making any payments, ensure the property has proper documentation. The key documents to check include:
- Certificate of Occupancy (C of O)
- Governor’s Consent
- Survey Plan
- Deed of Assignment
It’s best to work with a trusted lawyer to verify these documents so you don’t buy “air.”
4. Inspect the Property Like a Detective
Don’t just take beautiful pictures as proof—go and inspect the house yourself! Some houses look fine on the outside but have serious plumbing, structural, or electrical issues. Things to check include:
- Water supply (is there constant water?)
- Power supply and wiring
- Flooding history (some areas in Lagos flood badly)
- Structural strength (cracks on walls, weak ceilings)
Don’t rush. A proper inspection can save you years of stress.
5. Know the Hidden Costs of Living in an Estate
If you’re buying a house in a gated estate, understand the service charges. Some estates have monthly or annual fees for:
- Security
- Waste disposal
- Water supply
- Street maintenance
Ask for a breakdown before committing—some fees can be ridiculously high.
6. Understand Lagos Land Titles
Land titles in Lagos can be confusing, but they determine if your house is legally yours. Some land types you should be aware of:
- Government Excision: Land excised by the government for private use
- Gazette: This is an official government publication that records land excisions, ownership, and boundaries, providing legal clarity on property rights.
- C of O: The highest form of land ownership
- Governor’s Consent: Approval from the government for a land transaction
Don’t assume. Ask questions and verify before you pay!
7. Negotiate Like a Lagosian
In Lagos, everything is negotiable—including house prices. Sellers will always quote a higher price first, so negotiate smartly. Don’t rush to pay without bargaining; you might save millions just by negotiating properly.
8. Consider Future Development Plans
Lagos is growing fast, and some areas will appreciate faster than others. Before buying, ask:
- Is the area developing?
- Are there upcoming government projects or road expansions?
- What’s the expected future value of properties in the area?
If you buy in a developing area now, you could make huge returns in the future.
9. Work With Trusted Real Estate Professionals
Whether it’s a lawyer, agent, or surveyor, working with the right professionals will make the process smoother. Avoid “Ogas at the top” who promise to help you secure land without documentation, they are usually fraudsters!
Always go through registered real estate companies or agencies for security.
10. Patience is Key
Buying a house in Lagos is not something you rush into. Take your time, do your research, and verify everything. If a deal sounds too good to be true, it probably is. Lagos real estate is a long-term investment so you should make the right choice.
There you have it—10 things to know before buying a house in Lagos! This applies to either buying or renting.
P.S: If you’re looking for an investment that goes beyond just owning a house, Project Lacasa is one of the smartest real estate investment options in Lagos right now. Instead of buying a single property and managing it yourself, Project Lacasa offers structured investment opportunities that allow you to own a stake in a thriving real estate development with long-term wealth-building potential.
Kindly follow and Contact us via the following platforms:
