First-Time Home Buying Guide for Nigerians

Amid the growing global housing crisis and economic uncertainties, 2024 sparked a renewed focus on sustainable housing solutions, particularly in Nigeria. At the heart of this movement is a practical buying guide designed to empower individuals with the knowledge and tools needed to secure safe, affordable, and lasting homes in today’s challenging market.

This guide is tailored specifically for Nigerians searching for prospective home opportunities within the region. The vast ongoing property development within the country presents a plethora of options but the hinderance of high agent fees, real estate fraud and possible illegal buildings serves as a deterrent and points to the essence of informational guides before purchasing homes.

Harmony Garden and Estate Development Limited, the highest ranked real estate entity in the country provides secure housing opportunities in Lagos, Abuja while they expand the possibilities of bringing their services to every corner of the nation. The company is renowned for offering genuine land titles, premium locations, and strategic developments tailored to modern living while still considering it important to guide any prospective home owners out there.

In this home buying guide, we detail home ownership concepts and things to look out for when purchasing real estate properties anywhere in Nigeria from within or outside the country and why we advice Harmony Garden and Estate Development as your best option.

Home Buying Guide Breakdown

Assess Your Financial Readiness
Before beginning your home search, take a deep look at your finances. Calculate your total income, monthly expenses, and current savings. Determine how much you can comfortably allocate for a down payment, mortgage, property taxes, and other recurring costs. Also, consider your job stability and long-term financial goals to ensure you’re truly ready for this investment.

Explore Financing Options
Most Nigerians rely on some form of financing to buy a home. Learn about the available mortgage plans from commercial banks, mortgage institutions, and federal housing programs like the National Housing Fund (NHF). Compare interest rates, repayment periods, and eligibility requirements. Understand how pre-qualification and loan approval processes work so you can prepare the right documents.

Choose the Right Location
Location is one of the most critical factors in home buying. Consider areas with strong infrastructure, road networks, power supply, good schools, healthcare access, and proximity to your workplace. Security, neighborhood reputation, and long-term investment value should also guide your choice, whether it’s in Lagos, Abuja, Port Harcourt, or an emerging suburb.

Research Property Types
Not all homes are created equal. Decide whether you want a flat, a detached or semi-detached house, a duplex, or to buy off-plan (a property still under construction). Each type comes with its own pros and cons in terms of cost, space, maintenance, and resale value. Factor in your family size, lifestyle needs, and long-term plans when making this choice.

Understand Legal Requirements
Real estate fraud is common in Nigeria, so it’s crucial to carry out proper due diligence. Verify all documents including the Certificate of Occupancy (C of O), Deed of Assignment, and Survey Plan. Engage a professional real estate lawyer to handle verification of ownership, land history, and any encumbrances. Don’t skip this, legal missteps can cost you your investment.

Inspect the Property
Always inspect the property in person. Check for construction quality, plumbing, wiring, roofing, ventilation, drainage, and finishes. Look for signs of poor workmanship or hidden defects. Harmony Garden and Estate Development permits onsite inspection to realtors and prospective buyers alike. If possible, bring a trusted building professional or engineer with you for a more technical evaluation.

Negotiate and Close the Deal
Once you’re satisfied, negotiate the price. Most sellers are open to discussions. Request a formal offer letter or draft of the sale agreement. Review every clause with your lawyer, ensure all fees are disclosed (agency, legal, survey, etc.), and make payments through traceable channels like bank transfers. Ensure the title transfer is done legally and documented.

Plan for Moving and Maintenance
After purchase, plan your move and any necessary upgrades or renovations. Set a realistic budget for furnishing, security installations, and basic repairs. Also consider ongoing costs such as estate dues, utility bills, and property upkeep. Regular maintenance will protect your investment and ensure your home stays safe and comfortable.

Harmony Garden Properties

Harmony Garden and Estate Development Limited is a prominent real estate and property developer in Nigeria committed to building and serving the nation’s real estate market as far as Lagos, Abuja, Ibadan, Port Harcourt and all across Nigeria. The company backed by iconic national recognition as one of the top-selling firms in Nigeria.

Whether you’re buying a home for personal use or investing for future gains, choosing Harmony Garden means choosing peace of mind and maximum returns.