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Many Nigerians prefer to build their houses from scratch, as opposed to purchasing a completed one. However, there’s a growing appetite for ready-made buildings, because it skips the hassles of construction, and save time. If you’re planning on going this route, you’ll probably appreciate tips for first-time homebuyers. This article will provide you with this.

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What follows is a discussion of 6 things you should consider before acquiring a home.

Decide on Your Budget

How much are you willing and able to commit to buying a home? Are there any houses that fall within your preferred price range? If they exist, are they located in places you’d like to live in? You need to answer these questions before deciding to make a purchase. Other cost considerations include legal fees, upgrades, and property taxes.

Examine Your Options

You will be pouring a fair bit of money into acquiring a house, so you’ll have to do due diligence on the options you’re presented with. You will aim to identify something that meets your needs. Factors worth weighing range from the presence of infrastructure to security, and the potential for an appreciation in value.

Work with a Competent Agent

There’s no shortage of real estate agents, but finding one that’s competent should be your priority. Go for an agent with a reputation for delivering excellent service. Their suggestions, ability to spot great homes, and negotiation skills will help you achieve your goals.

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Inspect Property

Be sure to inspect the homes you’re going to choose from. Pay attention to their physical condition, and look out for possible damages and defects. Are there cracks, leaks, gaps, weak spots rusting surfaces? What’s ventilation like? Is the area prone to flooding? These are just some of the things you ought to find out about.

Ascertain the Authenticity of Property Documents

You must determine the authenticity of the documents associated with the property you’re acquiring. You can ask a lawyer to help examine them and carry out background checks where they’re needed. Validating documents will keep you from falling prey to fraudsters or having your home taken from you via corrective action from the government.

Think About Financing Options

Unless you’re paying fully with your own money, you’ll have to think about available options for financing your purchase. If you opt for mortgage providers, you should compare the interest rates and terms on offer from multiple institutions before choosing one.

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Final Words

You will find our tips for first-time homebuyers helpful if you follow them in your move to acquire a home. With them, you can secure a living space that’s worth every naira you spend on it.

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This article was first published on 17th February 2025
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ikenna-nwachukwu

Ikenna Nwachukwu holds a bachelor's degree in Economics from the University of Nigeria, Nsukka. He loves to look at the world through multiple lenses- economic, political, religious and philosophical- and to write about what he observes in a witty, yet reflective style.