Buying land in Nigeria can be a valuable investment, but buying land without proper key checks can lead to costly mistakes. Buying land requires verifying ownership documents, assessing location risks, and following these five key checks to make a secure and informed purchase.
- Before buying land anywhere, ensure you understand the zoning regulations. Certain lands are zoned for residential, commercial, or agricultural use. Buying the wrong type of land could limit your development plans. Always consult with local authorities or a real estate professional to confirm zoning details and ensure the property suits your goals.
2. Always check if the land is located in a flood-prone zone. If it is, you may need to invest in extensive drainage systems or risk severe damage during the rainy season. Taking these precautions can help you make a more informed decision, ensuring that you’re fully aware of any potential challenges and associated costs before finalising your purchase.
3. Ensure that the land you are purchasing has all the proper ownership documents, such as a Certificate of Occupancy (C of O), Right of Occupancy (R of O) etc.
Without this, you risk legal disputes over land ownership.
4. When buying land, proximity to essential infrastructure such as roads, schools, and hospitals can significantly increase its value. However, make sure these are in well-developed areas to avoid accessibility issues. By choosing land with access to established infrastructure, you not only enhance its marketability but also increase the likelihood of long-term appreciation and investment success.
5. Access the land’s topography before purchasing. Steep or uneven d can increase building costs and may require specialised construction techniques.
In conclusion, buying land is a significant investment that requires careful consideration of multiple factors. Understanding zoning regulations, checking flood risks, confirming ownership documentation, assessing proximity to essential infrastructure, and evaluating the land’s topography are all crucial steps. By taking the time to research and verify these elements, you can avoid costly setbacks and ensure your land purchase aligns with your development plans. A well-informed decision will set the foundation for a successful and sustainable investment.