What is the Best Way to Buy Cheap Land in Nigeria

Saturday, 30 October 2021

What is the Best Way to Buy Cheap Land in Nigeria

It is no longer news that real estate investment has helped a lot of Nigerians build wealth both now and in time past. But as a youth that still hustles to keep body and soul going, it is important to ask "How can I buy cheap plot of land In Nigeria?". This is often a question that results in discouragement when a proper answer is not given. We shall try to provide the necessary answer to this question on this post today!

how to buy cheap plot of land in Nigeria


Best Way to Buy cheap Plot of land in Nigeria

So now we shall be discussing the various options available to you when it comes to buying a cheap plot of land as a Nigerian.


Buy Before the Development Starts

One of the easiest ways to buy cheap plot of land in Nigeria is to always search out areas where there are available plot for sale and ensure you buy these plots (as much as you could afford). You are buying this plot of land and keeping it for a couple of years before development starts proper.

One of the benefits of buying plots before development starts in the area is that if you're financially strong enough to accumulate as many plots as possible in an area with high potential, you stand a chance of selling at a higher price when people start buying at a later time.

From my personal experience, people that buys plots of land earlier actually regrets not buying more than 1 plot because they realize they could've made more money if they did so!

Remember that Lands appreciate daily and whatever you bought a plot today, you'll always sell higher even a month after. Remember also that even if your plots are located in an area that has never known development, so long as the place is situated close to a road, near to a city or popular spot, your investment will yield profit in no time!


Join Corporations

There are a lot of Corporative societies in Nigeria today! One of the many benefits of corporative societies is their ability to get real estate properties at a lower price! I Must not fail to remind us however that there are different types of corporative societies, While others exist to help members secure loans, there are those that exist to help members secure real estate properties especially plots of land at a very cheap price.

What you have to do is ensure the goal of your corporative society is well spelled out before you join and start buying through them.

Corporative Societies are often able to get land offers, make proper research to ensure the land is not a shady one and call for buyers after accurate information about the land has been obtained.

Being a member of a registered and reliable cooperative society in Nigeria is a sure way to buy cheap plot of land in Nigeria for yourself.


Buy Directly From Land Owners

If you could not find a good corporative to join, couldn't secure plots in your area before the prize went up, don't give up! Another way to buy a cheap of land in Nigeria is to reach out to landowners directly.

Directly buying plots of land from landowners removes the middlemen's effect on price. 

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Do you know that sometimes a middleman gets around 10% of the total cost of a plot of land if he brought the buyer to the seller? Now this 10% remains in your pocket if you were able to reach the landowner directly.


Always Consult Your Legal Team

Ok, let's assume you have found a good plot of land to buy and are ready to make the necessary payments to complete the buying process. Do you know that plot of land could still be taken away from you if your deal had no good documentations?

Do you know having a Legal practitioner read, prepare and document property documents like Deed of Transfer could make it more legit and would always turn away dubious sellers?

Aside from turning away dubious characters from putting your money on a siege, consulting a legal practitioner would ensure you append your signature in a document that wasn't written to confuse and put yourself in Future trouble


Use Real Estate MarketPlaces

Real Estate Marketplaces like Jiji, Nigerian Property Center, Fortunehill Homes help you search for properties available for sale in your city. Aside from making it possible to find these properties, you could also use the filter tool to set the cost range for the property you desire to buy.


Conclusion: Buying Cheap Plot of Land In Nigeria

It is not a difficult thing to find and buy a real estate property in Nigeria anymore. So long as you have the money required to buy a property, you could follow any of the options suggested above to find a property that suits your needs and enjoy peace of mind! 

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