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THINGS TO CONSIDER BEFORE BUYING LAND TO BUILD A HOME IN LAGOS, NIGERIA

Remember, It’s All About LOCATION, LOCATION, LOCATION

This is, above everything else, the most important consideration when buying a lot. Aside from just choosing the right location on a macro scale (i.e. the side of town you want to live on), it’s also important on a micro scale as well: for example, if your lot is part of a bigger real estate subdivision, is it going to be on the side that has a nice view, or the side that’s right next to a highway? If you have children, you’ll want to think about nearby school districts. If you are still in your working years, you’ll also want to make sure you don’t build a house that’s so far from work that you have a commute time that’s longer than you like. If you are retired or retiring, you may want to look into nearby community amenities including medical services, recreational facilities, clubhouses, fitness centers, etc..

Approval and Licences:

Once you zero in on the property, check the builder’s paperwork ranging from commencement certificate for work, environmental clearance and approved building plans. Also ask for the status of the land title and see if the builder has bought the land or has just development rights for it. Here is a list of documents you should check. (a). Title Deed: Check whether the builder has a right over the property. While buying a plot, see the title deed of the land to confirm if the builder has the full right to it. You can also take help from a lawyer to get the deed examined.

DivakarVijayasarathy, Co-founder, MeetUrPro.com, says, “A mere NOC (no-objection certificate) from the panchayat or the local body does not constitute approval by the authority.”

(b). Release Certificate: If you are buying a property in resale, remember that it may have been pledged to get a bank loan. In such a case, you will have to get a release certificate from the bank, which will prove that the loan on the land has been repaid. Check Encumbrance Certificate: It is also important to verify that the land is free from all legal dues.

(c). Verify land use: Verify the land-use zone as per the city master plan for the plot. You can get the plan from the local body office in your respective city.

(d). Approvals by Local Body: Make sure that the entire layout has been approved by the development corporation and the local body of the city.

(e). Property Tax Receipts: If you are buying a property in resale, ask for previous property tax receipts from the seller along with other bills. This way you can ensure there are no pending bills.

Try To Picture Your Neighborhood in 5-10 years

The biggest mistake I see people make when they buy real estate land is that they often get into a “house fever.” By house fever, I mean they fall in love with some aspect or feature of the property that they forget to ask some of the biggest questions.

For example, what developments and properties are likely to be set up around the area in 5 to 10 years.

Know The Property’s Setbacks

What are the setbacks on your lot? (If you are not familiar with the term, “setbacks” are the guidelines that state how close to the border of your property you can build.) Your local building department or owners association will have the answer to this question, and it may affect where you put your house; on smaller lots, setbacks may even dictate the size of the home’s footprint.

Don’t Forget Zoning & Restrictions

Finally, you’ll want to know all about the restrictions on the property. Are you buying land in a community that has Covenants, Codes and Restrictions (CCRs)? Is there an Architectural Control Committee (ACC) that you’ll have to run your design and landscaping decisions by for approval? You’ll want to make sure you know this before you buy the lot, and certainly before you start building.

Zoning is important as well 

Some areas have land that is zoned for either commercial or residential use. You probably don’t want to build a house where you’ll end up with a gas station as your next door neighbor… but even if you are in an area that’s zoned for residential homes, is it zoned for more than one structure? If you want to build a barn, a detached garage, or a “mother-in-law cottage” behind your house, you’ll want to make sure your lot is zoned properly for this, and finding a lot with this kind of zoning may be more difficult than you think.

We hope this has been a helpful list of items for you to consider as you look at buying land.

Contact us at GARNET HOMES for available offers and let us help you work with your budget to make you become a land owner . Kindly call +2348023947494