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Step-by-Step Guide to Buying a House in Lagos: What Every First-Time Buyer Should Know

Buying your first house in Lagos can be both exciting and overwhelming. From understanding property laws to navigating documentation and budgeting, there’s a lot to consider. Making the right decisions early can save you from costly mistakes and legal complications.

At The Wallington Realties Limited, we’ve guided hundreds of first-time buyers across Lagos, ensuring safe, transparent, and stress-free property transactions. This guide walks you through the essential steps every first-time buyer should know.

Step 1: Determine Your Budget and Financing

Before you start property hunting, know exactly how much you can afford. Lagos property prices vary widely depending on location, property type, and amenities. Consider:

• Available savings for down payments.

• Mortgage options from banks or financial institutions.

• Additional costs, including legal fees, taxes, and agent commissions.

This table provides a clear overview to help you plan effectively.

Step 2: Choose the Right Location

Location is critical in Lagos real estate. Consider factors such as:

• Proximity to work, schools, and essential services

• Security and neighborhood safety

• Future development plans, which may increase property value

Working with an experienced agent helps you identify areas that match your lifestyle and investment goals.

Step 3: Verify Property Authenticity

Before making any payment, confirm that the property is legitimate. Key verifications include:

At The Wallington Realties, we conduct thorough checks on all documents to guarantee authenticity and protect your investment.

Step 4: Engage a Trusted Realtor

A licensed and reputable realtor can save time, reduce stress, and protect you from fraud. A trusted agent will:

• Guide you through property selection and verification

• Handle legal paperwork and government procedures

• Negotiate the best price and favorable terms

Our clients benefit from transparent processes and expert advice from start to finish.

Step 5: Conduct Property Inspection

Always visit the property in person or via a virtual tour. Check for:

• Structural quality of the building

• Existing utilities (water, electricity, drainage)

• Surrounding environment and neighborhood conditions

Inspections help avoid surprises after purchase and ensure your property meets expectations.

Step 6: Complete Legal and Payment Processes

Once you’ve verified the property and agreed on terms:

1. Sign a Sales Agreement drafted by a licensed lawyer.

2. Make payments with proper receipts issued by the seller or agent.

3. Register the property transfer with Lagos State Land Registry to obtain legal ownership.

Proper legal procedures prevent disputes and secure your property for the future.

Step 7: Move In or Rent Out

After registration, you can:

• Move in immediately if it’s a ready-to-occupy property.

• Renovate or upgrade according to your preferences.

• Rent out as an investment property while generating passive income.

Conclusion

Buying your first house in Lagos doesn’t have to be stressful. By planning your budget, selecting the right location, verifying property authenticity, and working with a trusted realtor, you can make a safe and informed investment.

The Wallington Realties Limited is committed to guiding first-time buyers through every step of the process, ensuring legal compliance, safety, and a smooth property acquisition experience.

Start your Lagos property journey today—book a consultation with The Wallington Realties.