- February 3, 2023
- Posted by: Chinwendu Nwaeze
- Category: Catalyst Properties, Consultation, Human Capital Development, Investment, Lifestyle, Real Estate
ADVANTAGES OF ACQUIRING A LANDED PROPERTY IN NIGERIA
In acquiring a landed property in Nigeria, the primary and most important stage entails conducting thorough research on the vendor’s title. Therefore, consulting with experienced specialists for advice and guidance is highly advised in order to prevent the typical dangers that comes with the purchase of real estate interests.
We are your best bet if you’re looking to buy land or invest in landed properties so as not to fall prey to fraudsters. You might be wondering why there is so much emphasis on “Land Purchase”. This is because there are many benefits that comes with acquiring a land in Nigeria.
Individuals involved in the real estate industry will always make a statement of “Ownership of property comes with a lot of benefits.”
1. Landed properties produce impressive returns. In other words, land is known generally to be a long-term, tangible asset that appreciates overtime.
2. Purchasing a land 3- 5 years before you plan to build will increase the value of that property. Then, you can get the best price of your land.
3. Leasing is another way land ownership is beneficial. You can increase your returns over the years by leasing out landed properties for a long or short term.
4. Acquiring a land provides financial security and contentment. With a well-drafted strategy, making profits and massive growth as an investor will become a norm.
5. Owning a landed property offers you many options in deciding the use of the land. You can develop it for various reasons like; a serviced apartment, a hostel apartment, a recreational center, a studio etc.
6. You can become your own landlord by owning a land.
7. Land ownership can become a source of passive income.
8. Furthermore, acquiring a land can be an asset for collateral.
ARE THERE ANY DOCUMENTATIONS I WOULD NEED FOR A LAND PURCHASE?
Acquiring a landed property in the Nigeria market can be quite delicate, therefore we would be sharing with you five (5) important documents you must look out for when acquiring a property. Depending on the land, you don’t need all of the documents listed here; but in most cases, you will need to have more than one to be called the rightful owner of the property.
1. CERTIFICATE OF OCCUPANCY(C of O)
2. APPROVED SURVEY PLAN
3. DEED OF ASSIGNMENT
4. GOVERNOR’S CONSENT
5. LAND PURCHASE RECEIPT
For more clarification on each of these documents, Click here to watch the video of the Director’s explanation.
FOUR MERITS OF POSSESSING THE ABOVE MENTIONED DOCUMENTS
- Easy transferability of the land.
- It provides a sense of security.
- Furthermore, it increases the value of the land.
- Also, establishes the status of ownership.
At Catalyst Properties; We Purchase/Sell landed properties, Consult and Construct. We’ll be pleased to do business with you.