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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.Sign up for the Connect Nigeria daily newsletter
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.Register to attend the CN Business Mixer
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.Find our comprehensive listings of businesses in Nigeria here (https://businesses.connectnigeria.com/)
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