One of the easiest ways to become a property owner in Nigeria is to buy a piece of land. Only when you buy land in Nigeria can you think of ways to develop the land. Gone are the days when Nigerians purchase land at an affordable price everywhere.
The story has changed recently. It is hard to get affordable land in Nigeria, especially in developed cities and towns. Additionally, to buy a piece of land in locations where there are higher institutions or companies, you need to be wealthy.
The good news is that you can still buy cheap land in Nigeria using some expert strategies. This article will help you identify easy ways to get affordable lands irrespective of your location in Nigeria.
How to buy affordable land in Nigeria
Millions in Nigeria are looking forward to becoming a landowner, but the cost of getting land in Nigeria often scares them off. With these strategies, you can get affordable lands in Nigeria;
Buy land before serious development.
When a company or family begins selling land in a particular location, the initial price is always affordable. At the initial stages, the company selling might include incentives to convince their prospect to invest in their properties. You can save more money if you buy land at such times.
One thing to note is that the value of land increases over time. If you are serious with your search, do not hope that the price will reduce. The value of land can only increase over time. Here\’s another reason why you should buy land in such areas early. The reason why many will delay buying is the thought that \”it\’s still a bush, I will be the only one there, Maybe nobody will buy, etc.\” When the company notices that many buyers are developing their land, they increase the price.
At this point, a land that was once cheap will become a hot cake. To be on the safer side and save some money, consider buying early and benefit from the seller\’s early bird sales. Another mistake you can make is to buy a small piece of land because you are not sure if others will invest in that location. You will regret such decisions in the long run because the price of the land will increase.
Buy and pay in installment.
Paying the asking price at once for land in Nigeria is not the easiest thing if you are not rich. Thankfully, many in Nigeria now own land by buying a piece of land and paying in installments. Say a land costs 2 Million Naira; you can spread the payment over three months, six months, a year, or two years. As such, you don\’t need to pay the complete fee for the land at once. Paying for the land at once can be too high for your small income.
Several real estate companies in Nigeria offer you the opportunity to pay in installments. If you plan to buy from a landowner directly, you can also explain your financial limitations and payment plans. Unless the landowner wants to sell the land in large units and at competitive rates, they will consider your offer. Such an agreement means that the land belongs to you after completing payment.
Buy land from corporate societies.
Buying land from cooperative societies is another way to get affordable lands in Nigeria. Cooperative societies often get real estate properties at a pocket-friendly price in Nigeria. Cooperative societies can help you secure loans and get real estate properties. Even if you do not have sufficient funds to finance buying the land, they could help with financing.
Another benefit of buying land from cooperative societies is that they do not inflate the price of the land. Their goal is not to earn excess profits but to help their members secure affordable land. The corporate society knows that price influences the buyer\’s decision. If the price is too high, nobody will buy the land. Ensure to confirm the authenticity of the cooperative society before investing in the land. Investigating will help you be on the safe side.
Buy from the landowner directly.
Another sure way to get affordable land in Nigeria is to buy directly from landowners. One of the reasons why the price of some land can be higher than it should is the effect of the middlemen. The middlemen want to earn some amount on each land for bringing the buyer. The middlemen know that they cannot reduce how much the landowner wants to get on their land. Hence, they inflate the price to accumulate profit from themselves.
If you could bypass the middlemen who often charge as high as 10% of the total value of the land, you can get the land at a very affordable price. You can add up to this money to get more units of land. Bypassing the middlemen will prevent you from unnecessarily enriching their pockets.
Grow Land? Is it possible to Grow-Land? Yes, you can Grow-Land, and this is one of the best ways to become a landowner in Nigeria. Landshop is the pioneer of this strategy, and it helps you become a landowner effortlessly.
To grow land means that you buy land in small units and accumulate until you have enough land to support the project you have on hand. For now, a square meter (sqm) of land goes for as low as N1,500. You can get as many square meters as you want in areas where such lands are available in Nigeria.
If you choose to grow land, the high cost of buying land in Nigeria will not bother you. You can buy the land at your own pace and keep accumulating until you have enough. Now is the best time to take advantage of this method. Who knows, the price might increase in the future.
If your goal is to get affordable land in Nigeria, the strategies discussed in this article will work for you. You can get cheap lands in Nigeria, but you need to decide quickly before the price of such properties increases. Are you interested in taking advantage of the Grow-Land strategy from Landshop? Then, schedule a consultation with us at Landshop today.