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Ultimate Guide To Buy a House in Nigeria

Ultimate Guide To Buy a House in Nigeria

The ultimate guide to buy a house in Nigeria information on this page will not only help first-timer but would also serves as a guidance for anyone who is planning to buy a house especially when you do not know have much knowledge in real estate. The decisions you make when buying a house can either cost you a lot of money or save you some money. 

If you are thinking of buying a house and do not know how to go about it, here is our step by step ultimate guide to buy a house in Nigeria.

Owning a house is a big commitment there is a lot of work attached to this process whenever you are purchasing one because It requires a great deal of time and effort.

These 10 steps in this ultimate guide to buy a house in Nigeria can help make your home purchasing process a simple task and also help you with tips on how to make an ideal choice when buying a house.

1. Start With Research Early

Before you start reading real estate content on magazines & newspapers, take note of specific houses you are interested in. Keep yourself informed on the latest developments surrounding that house as long as they remain available.

The Ultimate Guide To Buy a House

Use this opportunity to also take note the asking price of the property and the kind of neighbourhood where the house is situated. This will give you the required insights on the trends and happenings in the neighbourhood where you plan to move to.

2. Set A Budget

Setting up a budget is an important point to be considered in the ultimate guide to buy a house in Nigeria. A budget allows you to plan ahead of time. Your budget should include the money set aside for decoration of the property and renovation, where necessary. We recommend that you should search for a house that is not more than 3 or 5 times your annual household income.

If you have already decided to purchase the property, make a 20% upfront installment payment to show the seller how serious you are. Also, you can could a tangible amount of money for debts, levies and other obligations.

This payment must be made based on your budget; never go against your budget for any reason. First of all, you should make a calculation on how much money you can generate for a particular property. 

This move allows you to make some sacrifices and put things aside for your initial installment. Also, you should also try out a Savings Plan, to help you save up some cash for your budget. 

3. Secure A House Mortgage/Loan

Before you start searching for a home in Nigeria, you should know the amount of money that you can spend. 

The most ideal approach to do that is to get prequalified for a home loan. To get prequalified, you simply need to get some financial information which will be given to the mortgage banker.

The Ultimate Guide To Buy a House

For example, your mortgage banker or loan adviser may request you to get a document of your salary, savings, and investment. This is one of the criterias used by the loan advisers to determine the total amount of asset you have.

Your loan banker will audit this data and disclose to you the amount that they can loan you. This will help you understand the price range of the homes you ought to be looking for.

When you plan on buying a house, you have your very own needs when picking a home loan. Some are keen on keeping their regularly scheduled instalments as low as could be expected under the circumstances.

Also, you should also ensure that you can get pre approved for credit. This process involves submitting your monetary archives, and other documents such as W-2 statement, bank account statement, payment stubs so your bank can confirm your money related status and credit.

Banks have a wide scope of intensely valued credit programs, loans, and excellent customer support. 

You will have to answer a lot of questions to answer from your bank when you are applying for a loan to buy a house. Having an experienced financial adviser to help will simplify the entire procedure for you. 

4. Find A Reliable Real Estate Agent in Nigeria

Real Estate Agents are individuals who play significant roles when it comes to purchasing or selling a home. They can assist you with the data analysis of homes and neighbourhoods that aren’t effectively open to people in general.

Real Estate agents are middlemen who coordinate some activities in the real estate business. They intercede for the buyer and seller of a particular property. 

If you are thinking of going against a real estate agent, you should reconsider your action because they are the centre of the whole deal.

Get a reliable real estate agent and get more information needed to get a house. Also, you should know that a lot of real estate agents are paid commissions by the merchant of the house. This is a strong reason why you need to get a transparent agent, not a hungry agent that would rip you off your money.

5. Start Visiting Available Houses in Nigeria

After you must have completed the first four processes, you should also start visiting the available houses around the area.

It would be useful to take notes of the specifications of the available houses using a detailed checklist of what you want; and what was provided on every one of the houses you visited.

Evidently, you will get to see a lot of houses before you even select on. Ensure that you take notes of every house you enter, this will be a great help to you during the selection process. 

It might be difficult to recall your experience in every house you enter, however, taking notes, pictures and videos will make you remember quickly.

At this point, you can work with your real estate agent to arrange a reasonable offer that is around your budget. Compare the houses offered to you by the agent to other houses in the neighbourhood.

After you have made a concrete agreement with the landlord and you arrive at an agreed price, the house will be yours (partially). This is the timeframe it takes to complete the house purchasing process and own the building.

6. Do a Home Inspection in Nigeria

Going for an house inspection is a must factor to be considered in the ultimate guide to buy a house in Nigeria. You need to do a house inspection to understand what is damaged or missing in the house such as bad wiring, leaking roof, cracked walls, etc.


Ordinarily, offers are dependent on a home assessment of the property. This is why you need to critically scrutinize the exterior and interior of the house. 

A careful examination of the property allows you to see the damages and know what to fix. 

This assessment secures you by allowing you to renegotiate your offer and even pull out from the deal if  you discover damages on the property are excess.

This area is very crucial because the damages on the building could be more than the actual value of the property.

Both you and the dealer will get a report on the house inspection discoveries. After then, you would then be able to make a choice and know if the merchant will have to fix anything before bringing the deal to a close.

Before the deal closes, you will have a stroll through the house, which allows you to confirm if the damages settled upon have been repaired.

7. Meet Your Neighbours

You neighbours have the power to determine if you stay in the chosen property will be peaceful or filled with turmoil. 

You need to get closer to your neighbours so they can help you understand the new location, the rules guiding the area, the power supply in the area and also brief you on the previous owners in that property. 

8. Have the House Appraised

You can have the house appraised yourself or using a third-party agency.  A house appraiser is a person who estimates the value of a house and other properties.

You should find an experienced house appraiser who will organize an appraiser to give an autonomous value of the estimation of the house you are purchasing. 

The appraiser should be an individual from another organization, that isn’t legitimately connected with the seller, real estate agent and bank.

The examination will let every one of the gatherings included realize that you are paying a reasonable cost for the home to help you understand if you are being cheated or not. It also helps you understand the value, just in case you plan to resell the house. Therefore; the importance of an house appraiser should not be ruled out in the ultimate guide to buy a house in Nigeria.

9. Prepare All The Necessary Documents

Documentation is one of the most vital factors to be considered in the ultimate guide to buy a house in Nigeria. As you can see, there is a great deal of administrative work associated with purchasing a house. Your lawyers and bankers should control the deal and ensure that the dealer is the legitimate owner of the house you are purchasing.

Once that is done, get them to prepare all necessary documents that would allow you to transfer the property to your possession and make you the legitimate owner of the property.

10. Close the Deal

At completing all 9 steps, the final step in the ultimate guide to buy a house in Nigeria is to ensure all documents are completed and rightly signed . You will sign all of the documents required to finish the purchase of your house, including your loan and bank reports. Once this is done, you are prepared to move into your new home.

The Ultimate Guide To Buy a House


As you can see from this detailed ultimate guide to buy a house in Nigeria is much more than meeting an agent and bargaining. There is a lot of delicate processes that you need to understand so you don’t have any problems controlling your property. If you can complete all 10 processes, I can assure you that the whole process would be smooth.

 Thanks for reading and do not forget to post unlimited free ads on to reach more potential buyers… to POST HERE

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