own a home in Lagos

Guide on How to Own A Home In Lagos

It’s exciting that you are planning to buy your own a home in Lagos, most especially if it’s your first.

Whether you are looking to start a family, relocating or upgrading your home to your present living standard, you have taken a great step in realizing one of your basic dreams.

Choosing your future home could be one of the most important decision you will make.

Whatever the case maybe we are ready to serve your interest on a maximum level.

Becoming a homeowner i Lagos is an achievement everyone would like to attain, and we will do everything we can to make this dream a reality for you.

Let’s take you through it…

We are here to help you get the ideal home, which meets your objectives and is tailored to your specific needs. Our innovative services and excellent personal attention to details makes it easy for you to become a homeowner! See for yourself as you go step by step through this easy and useful homebuyer’s guide. Follow this guide and notice how simple it will be for you to make the right decision on your home buying decision.

You will find out:

1. What to do Before You Start Looking for a Home in Lagos
2. Selecting a Real Estate Professional help you own a home in Lagos
3. Making the Search Easy
4. Do a Thorough Home Inspection
5. Making an Offer
6. Purchasing Your Dream Home
7. About SORS Investment Limited
8. Evaluation Checklist

Click here to download the Evaluation Checklist to own a home in Lagos

Guide on How to Own A Home In Lagos 1

Own a Home in Lagos

What to do Before You Start Looking to own a Home in Lagos

Buying a home in Nigeria is a time-consuming and expensive investment. Therefore, it is important to know what to look for in a home and understand the buying process well, before you settle on a house. Luckily for you, we have a great team of professionals who understand your concerns as a potential home buyer and we will guide you through the process. Before you begin the home buying process, it is essential to know how much is budgeted. This is one of the most important aspects of the process as it makes easy for you to know the type of home you can afford, the possible locations and your expectation of the final home you get. This can be a guiding path before you and your real estate agent begin looking for a home. If you are thinking of mortgage, getting prequalification from your financial places would be the best idea. In getting pre-qualified, you will know what price of the home you can afford and what your monthly payments will be. The best part of this step is that we put everything in writing. Too often, buyers start looking for a home or start looking at homes, before they know what they can afford or even if they can purchase any. It’s important to know what you can afford and how you want your payment plan structured so you are ‘not living for your home’, and more importantly, whether or not you can buy.

Selecting a Real Estate Professional to Help you Own a Home in Lagos

Now it is time to find a real estate professional to help you find your dream home. A real estate professional is an expert who knows exactly which homes are for sale and which ones can meet your requirements and desires. Finding the right agent takes balancing credentials and chemistry, you want to choose someone you like, after-all you might spend the next six months working together. But your agent also needs to be able to safeguard your financial interests, so you might need to look out for someone trustworthy, you can rely on. A good agent will listen carefully to your priorities and won’t waste time on properties that don’t fit the bill. Don’t just call the first agent available at your disposal and to win you need someone who plays in the areas where you’re looking to buy. Expert agents should be up on market trends, know about local schools, commute times, and under-the-radar red flags, like the flood-prone area that’s been proposed for the neighborhood.

Discuss your budget with your agent or show your agent your pre-qualification certificate in the case of a mortgage. With this, your agent will be able to pre-select homes that are in your price range. Additionally, your agent can provide you with information about different neighborhoods where you might want to live, as well as suggestions that you may not have considered. Your agent can also give you practical advice about what you should look for in a home and when it is time to make an offer on the home you wish to purchase, your agent will be there to help.

A real estate professional plays a very important role in the home buying process and should be selected with care. Before selecting your agent, ask for recommendations from family and friends and interview several agents, to have a better idea of what each one is like and what each offers you. The relationship between a real estate professional and a buyer should be one of the mutual respects, similar objectives and frequently, a written agreement which specifies the terms and conditions of the agent’s representation of the buyer.

The ideal real estate professional

➔ Understands your needs and objectives.

➔ Is professional and dedicated to doing a good job.

➔ Knows the area where you want to live.

➔ Knows how much you can spend on a home.

➔ Has excellent references from other clients.

➔ Treats you with the respect that you deserve.

➔ Gives Post-buying support

Click here to download the Evaluation Checklist to own a home in Lagos

Making the Search Easy

Location, location, location to reduce the number of homes that you visit, you should begin by deciding what factors are important to you, such as the approximate cost of the home and the location, and then you can begin to determine more specific details, such as the neighborhood, the characteristics of the home, and the type of dwelling (i.e., condominium, townhome, or traditional single-family home). The location is the factor that most affects the value of the home in Lagos. The majority of homebuyers are prepared to sacrifice certain characteristics and preferences of their home, in order to be able to purchase a home in the area or neighborhood that they most prefer. This is a very important insight because you can almost always make some adjustments or do some remodeling, such as adding on another room or putting in a pool in the backyard, to have everything you desire in your home. But once you have moved into your home, it does not matter how many improvements you make, you will not be able to move this home from the city to the suburbs, or from the west side to the east side of the city! Here is a list of the top seven questions potential buyers ask about a neighborhood:

1) Does it have good schools for my kids?

2) Is it a nice neighborhood? 3)

Is it in a good shopping district?

4) Is it near my/my spouse’s office/work location?

5) Is it near my/my spouse’s family and friends?

6) Does it have a low crime index/how safe is it?

7) Is it close to parks and recreation areas?

Click here to download the Evaluation Checklist to own a home in Lagos

Make Sure You Do a Thorough Home Inspection

Before you begin searching for a home, it is important that you decide what characteristics you want in your home. Use the handy Evaluation Chart provided on the last line of this post to note down the desired characteristics of your dream home, and use it to evaluate how the different homes you’ll look at, meet your desires. Make several copies of the chart and carry them with you as you search for the ideal home, keeping in mind which characteristics you consider essential in the home you’ll purchase. If you fill in the information as you look at homes, you will be able to remember the pluses and minuses of the different homes you see and can evaluate the homes fairly, using the same criteria regardless of when you see them. Once you have decided which characteristics you want your dream home to have and in which neighborhoods you are interested in living, you should begin to view homes for sale with your real estate agent. During this period, it is important that you make a thorough evaluation of the properties that you visit. Get accustomed to viewing properties with a critical eye. Inspect each home thoroughly, making sure you look at and evaluate each area that you consider important for your abode. Feel free to take pictures or video so that you can remember what you liked or disliked in each home, and make sure that you keep detailed notes on your Evaluation Chart.

Making an Offer

How do I determine the real value of the home? Before you make an offer, you need to determine how much the home is really worth. Your real estate agent can help you by providing information about other homes in the neighborhood that have recently sold. This way, you can compare the selling prices of the different homes to feel confident that you are offering a fair and sufficient amount. There are also a number of other services available on the Internet that can provide estimated property values and recent sales within the general area. After payment, immediately take physical possession of the property and file necessary documentation with the government. Gone are the days when you buy a landed property and “leave it to appreciate”. More often than not, such properties are resold by land grabbers (“Omo Onile”) to third parties. The amount usually spent on fighting to get the land back would have been used to build on the land. If the property does not have a certificate of occupancy, you can commence the processing. If it does, you need to obtain the Governor’s Consent to the transaction. With these Guide in mind, you can safely acquire a real estate property in Nigeria.

Click here to download the Evaluation Checklist to own a home in Lagos

About SORS Investment Limited

SORS Investment Company Limited is a leading real estate and facility management company in Nigeria, Lagos. With over 25+ years combined experience, SORS Investment offer sales of Corporate real estate, Residential buildings as well as provide facility maintenance for buildings. SORS Investment Company drives the engagement and well-being of buildings, people, workplace, process, and technology. With a full range of Real Estate & Facilities Management Expert, all informed by 25+ years of experience and market leadership. We believe in clear and transparent partnership, and True Facility Management solutions which are configured to deliver optimal performance given your specific desires, and low-priced budget. We bring this together through the use of big data insight, technology, and operational excellence. It’s our goal to keep our clients valuable happy, helping them to make confident and informed real estate decision. Down to the smallest details, our values inform the way we do business as a result of our holistic approach to real estate and facility management.

Click here to download the Evaluation Checklist to own a home in Lagos

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