If you eventually decide to invest in landed properties after much consideration, well, the time you spend considering your investment options worth it determines whether you’re making the right decision. But that’s not all; you also need to buy the right land. How do you go about this? That is what will be answered in this article. Below are some factors you should consider when buying land.
When buying land in Nigeria, you need to ensure that the dimension of the land is the same as what the land owner claims. For instance, if a land owner tells you the land is a hectare, you do not just go for it, rather, making sure the land is actually an hectare will be the smart move to make.
You ensure the accuracy of the acclaimed size by involving a surveyor. And in cases where the land already has a survey plan, the surveyor will measure to confirm that what is on the plan is in tandem with what the owner says.
OK, it’s not yet time to go for your chequebook; hold on. Remember that you are buying the land for a specific intended purpose; hence, the need to consider the soil type to be sure the land will serve the purpose for which you are buying it.
For example, a swampy land will not be suitable for building construction, but will be for fish farming – whatever it is you want to do with the land, be sure the land can do it.
The shape of the Land
The shape of the land, determines to a large extent, the use to which it can be put. Note that some land shapes will make you lose some spaces which should have been included in the proposed building.
An irregularly shaped land may also prove to be a huge task for an architect, forcing him/her to opt for designs that are less than satisfactory and money consuming. Save yourself the hassle by going for a land that perfectly suits your need.
Before buying a land, you’ll be smart to consider its location, as the location of a land can prove to be a valuable asset in the future.
There are areas where land is cheap but will attract development quickly in the near future. Even if the land is not that valuable at the moment, consider the fact that factors such as proximity to main roads, and closeness to big projects will prove to be drivers of value in the nearest future – be a smart investor.
Some of the things that attract quick development are higher institutions, roads, industries, markets…
The importance of topography cannot be overemphasized. Note that sloppy lands tend to attract more cost during building construction, while plain lands are generally preferable.
A land with sloppy or undulating topography tends to encourage flooding and with time, you may have to battle with the menace of erosion for the rest of your operations on the land.
Price of the Land
Okay, this list was compiled in no particular order, if it was, the price of the land should be on top of the list. The topography, soil type, and location of the land all influence the price of the land.
If you think the asking price of the land is not in tandem with your assessed value, then you may want to involve a real estate valuer to help you determine the capital value of the land so as to ensure you do not pay a price that is higher than the actual value
Ask yourself, “is the area in which the land is located secure?” try as much as you can to go for a land that boasts of a certain level of security. Trust me; you really do not want to buy land in an area where hoodlums and thieves will act as if you are their crush.
This article does not contain all the factors to be considered before buying land. To be honest, you really do not have to go through all these hassle to buy a land; all you need do is call on the service of a reputable real estate firm to help you with all the process involved. Click here if you need land anywhere in Nigeria at pocket friendly price.
For Enquiries, Click here