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On this post i would like to answer one question i got a while ago. The question was on factors to be considered before buying a plot of land in Nigeria and i believe with the help of this post, i’ll be able to give a better answer.
In Nigeria, there are many reasons why one may decide to buy a plot of land. As you know, land has a lot of uses which could be industrial, domestic and what have you.
Well, there are several factors to be considered, but for the sake of clarity, i will just pick 5 of these factors while listing out the others.
Among the factors to consider before Buying a plot of land in nigeria are:
1. Size Of The Land
As i mentioned above, land is a very important aspect of production. So it is very important that you know your needed size of land as this would help you know if the land on sale will serve the purpose.
Aside from this, You are also advised to ensure the size of the land is equivalent to whatever the seller says it is so you do not over spend your money.
It is often recommended you take a long a registered surveyor who will inturn ascertain the dimensions of the land and work out the total land area in relation with your intended project.
2. Where Is The Land Located?
This is just one question you must provide answer to as the location of the land plays an important role in determining the price of the land.
Land is often valued through the location. This simply means plots of land located along a developed area will be more expensive than those located in undeveloped or developing areas.
Hope you get the difference?
Aside from that, there are areas with high potentials. Land in such areas will be cheap especially if the area has the potential of attracting development in the future.
Also Read: The Advantages Of Real Estate Investment
Having known this, it is therefore very important that you observe the level of development in the area before you buy land there.
Also understand that markets, schools, good roads and closeness to industries, higher institutions are factors to lookout for as they often bring about a rapid development.
3. Is the Land Rectangular In Shape?
This is another important factor you must consider before you buy that plot of land. Do you know that the shape of a plot of land could affect the aesthetics of your intended project?
Yes, always go for a plot of land that is rectangular in shape as triangular shaped land could lead to loss of land space.
As an experienced Civil Engineer, i know its often hard to connect the sides of an irregular piece of land. This is the duty of an architect though, but try as much as you can to get a plot of land that is rectangular in shape.
You will be glad you did
4. What Is The Price Of The Land?
Have you tried to marry the price of the land you’re about paying for with the location of your business, its shape and accessibility?
Until you have done this, do not pay for it unless you’re willing to leave the land for a far far future purpose.
I think its best to involve the services of a surveyor and an estate expert as they stand a better chance of explaining things to you.
5. Proximity To The Road
Just how close is the land to the highway? will it be easy to access the land from the road? You must ensure the land is one you can easily access from a nearby major road or any good road at all.
This does not mean that there are no good plots of land located deep in the woods, but its better you buy that which is close to a road for easy accessibility.
This might also help the land appreciate for you in the future.
Also ensure that the land owner has made arrangements to map out roads within the area as this might often lead to issues with other buyers too.
Also Read: Everything You Need To Know About Production Of Blocks In Nigeria
Also Read: Everything You Need To Know About Production Of Blocks In Nigeria
Other Factors to be considered before buying a plot of land in nigeria include:
6. How available are the legal papers of the plot of land
7. On what kind of environment is the land located? is it a swampy land?
8. How would i Secure the Land? Is the area i am buying the said plot of land secured enough to prevent the land from being stolen from me or encroached on?
9. Nature of the Soil
A land located on a swampy area is usually cheaper than a plot located on a firm soil.
10. Topography
if the land is sloppy, just have it at the back of your mind that unless it is going to plant crops (Some crops though), you will spend a lot in order to make the land level.
Also, a flat land is usually preferred unlike that on a hilly terrain.
Well, i have listed 5 major factors to be considered before buying a plot of land, i also listed 5 other factors that are also important and i would like to urge you to see all these factors as very important factors as far as buying of land in nigeria is concerned.
Do have a good time and remember to share with others too.
