Buying your first home in Lagos is an exciting milestone, but Nigeria's property market has unique challenges that every first-time buyer should understand before signing anything.
1. Verify the title document first
Always demand a Certificate of Occupancy (C of O) or a Deed of Assignment with Governor's Consent. A survey plan alone is insufficient. Engage a qualified property lawyer to trace the root of title before paying any deposit.
2. Use a registered estate surveyor
The Nigerian Institution of Estate Surveyors and Valuers (NIESV) maintains a register of licensed professionals. Always hire one to conduct an independent valuation — sellers frequently overprice by 20–40%.
3. Know your target neighbourhoods
Lagos property prices vary enormously. Lekki Phase 1 and Victoria Island command premium prices; Ajah, Sangotedo, and Ibeju-Lekki offer more affordable options with similar infrastructure growth potential.
4. Factor in agency and legal fees
Budget an extra 5–10% on top of the purchase price for agent commission (typically 5%), legal fees (1–2%), and survey costs.
5. Don't skip the physical inspection
Visit the property at different times of day. Check drainage during rainy season, verify electricity supply (EKEDC load-shedding patterns vary by area), and test the water supply.
6. Confirm there are no encumbrances
Instruct your lawyer to run a search at the Lagos State Land Registry to confirm no outstanding mortgage, court order, or family dispute exists on the property.
7. Negotiate payment milestones
Stagger payments: pay an initial deposit (10–20%) after title verification, then the balance only after all conditions in the sale agreement are met.
8. Consider proximity to your workplace
Lagos traffic is severe. A property 15 km from your office can mean 2–3 hours of daily commute. Prioritise locations on major transit corridors like Lekki-Epe Expressway or Lagos Island.
9. Understand community levies
Estate residents typically pay monthly or annual service charges for security, refuse collection, and road maintenance. Factor these into your ongoing costs.
10. Use Yard to find verified listings
Yard verifies all listings on the platform, reducing your exposure to fraudulent or misrepresented properties. Download the Yard app to browse current Lagos listings with transparent pricing.