Buying a home is considered a key aspect of the Nigerian dream. While it is exciting to buy your first home, it can also be challenging for a first-timer. After all, there are so many steps, tasks, and requirements, and you may be anxious about making an expensive mistake.

It is easy to even get emotional about buying a home, especially your first one. You will spend a great deal of time and effort getting the right one, save up for your down payment and furniture, and look forward to creating many memories. People generally have trouble keeping their emotions in check when it comes time to relocating from an old place to a new one.

Making the leap from “renter” to “owner” can be more complicated than it seems. Before you’re handed the keys to your new home, there are a wide variety of questions you should ask; such as a successful homebuying experience is all about getting the details right from start to finish from the seller, developer or real estate company.

Maybe you’ve thought about owning a home in an estate for some time but assumed you could not afford it. Perhaps changes in your life have forced you to find a new place to live. In either case, here is a rundown of the questions you need to ask before you buy and what you can expect from the buying process itself, plus tips to make life easier after you buy your first home.

1. Payment Plan

Now, there are several houses you can buy and pay later in Lagos with installment plans, in case you can’t buy outright. Although, these payment plans vary from one developer/real estate companies to another, as well as one estate in Lagos to another. Payment plan varies between 3, 6, 12, 18, 24 and 36 months. You’ll have to deposit a certain amount of money and spread payment within the specified time that you have decided to go for.

2. What Title Document Covers the House?

There are important house/land documents in Nigeria that can be used to certify the legal ownership status of any land in Nigeria. When buying a house, you need to ask; Does the house have a Certificate of Occupancy and Governor’s Consent? You can also ask to see the approved survey plan of the property.

 3. Are There Any Encumbrances on the Property?

An encumbrance is a claim against a property by a party that is not the owner. An encumbrance can affect the transferability of the property and restrict its free use. You need to ask; are there any encumbrances on the property. Is the property is free from Government acquisition, interest, claims from cooperate or individual entities?

4. What do I Get After My Complete Payment?

After payment has been made, the seller has to give you a Receipt, Contract of Sale, and Deed of Assignment.

5. What Are The Facilities Available?

Buying a home is, for most people, a once in a lifetime decision and getting all your wishes checked the first time makes sense. Amenities and facilities improve the living situation, some of them are indispensable while others are avoidable. The location, layout (number of bedrooms, bathrooms, balconies, and the layout of the kitchen) and construction design is very important.

But, a home is often the biggest purchase you make in life, and it’s a purchase that follows you around for years. Do your homework before you buy and inspect the home yourself or have a professional inspector follow to uncover problems that you may not find otherwise. A home inspection is an additional way to protect home buyers. Home inspections often uncover flaws in a home or condo, and provide home buyers with a better understanding of what kind of condition a property is in before purchasing it. And happy house hunting!