6 Major Factors You Should Consider Before Buying Land

6 Major Factors to Consider Before Buying Land

Becoming a land owner is a major milestone for many people. And it’s the beginning of the journey to building a new home, office or any other desired structure.

But how do you choose the best location for your building?

That’s exactly what we’ll be considering in this blog post.

Major Factors to Consider Before Buying Land

1. Purpose of the land acquisition:

It’s important to consider the purpose of the land and the purpose of the building you want to erect on that land.

Are you building to rent and earn rental income?

Or is it a private residence?

Or is it for commercial purposes like hotel, restaurants, hospitals, corporate offices, amongst others?

Or, perhaps it’s a multipurpose building.

Whatever the purpose might be you need to be sure, so you can choose a location that will be most suitable for your building.

For instance, if you’re building for rental income, you want to build in a location with good level of development…

Because this will help to boost the value of your property and how much rental income you can earn.

2) Proximity to your job or business:

Another important reason to consider before buying land especially when buying to build your dream home is the closeness of your job or place of business to your choice location.

Considering this can save you the stress of wasting time and financial resources on transportation, moving from your home to the office, and back.

3) Availability of necessary infrastructure:

You’ll also need to consider the level of development in the location you’re considering.

Basically, you’ll be looking at the availability of necessary infrastructure like good roads, hospitals, schools, airport, and bank amongst others depending on the purpose for your land acquisition.

Some time ago, I had a relative who purchased land and built his home in one of the towns on the outskirts of Lagos…

And this location is notorious in Lagos for its terribly bad road which leads to regular traffic congestion.

Eventually he couldn’t cope and he had to buy another property and relocate because of the traffic jam challenge…

So think about the availability of infrastructure and how their absence might affect your ability to conveniently live in that location.

4) Security:

Wherever you choose to live, you want to be sure about the security of lives and properties in that place.

This is a very important factor to take into consideration before making a choice of where to construct your building.

Some areas are prone to armed robbery attacks and are not safe for living while some other locations are safer.

Doing some background checks will help you discover if a location you’re considering has a history of being unsafe due to armed robbery, cultism and other vices.

5) Budget:

The price of land varies with location and level of development in the location. For instance, the hot-selling Ibeju-Lekki sells at a higher price than many other locations in Lagos because of the on-going development in the area.

So determining the budget for your land acquisition will help you prepare adequately for your land purchase.

And it will also help your realtor – if you’re working with one – to effectively advise you on the best location to acquire your land based on your budget and other needs.

Another benefit of having a budget is that your realtor can also help you access flexible payment plans based on your budget to help you acquire your land with greater ease.

6) Proper documentation:

You probably know a friend or family member that has been a victim of land grabbers (omo onile) and their fraudulent activities.

It’s a painful experience…

But you can avoid it by ensuring that the land you want to acquire has the necessary land documents.

You can decide to do the due diligence yourself… it might be stressful, but it’s worth it. Especially when you consider the consequences of falling into the hands of the criminal land grabbers.

Also, you can decide to save time and avoid stress by working with Land and Bricks Realty to buy land with peace of mind.

Conclusion

Land acquisition is a major decision and it requires serious considerations and planning.

Taking these factors into consideration will help you make a good decision and become a land owner with peace of mind.

Are you thinking about investing in real estate?

Do you need help with acquiring land and homes from trustworthy and reputable organizations without being swindled by land-grabbers (omo onile)?

Don’t worry, we’ve got you covered. Simply send us a message on WhatsApp or call 0811 027 8930 to make enquiries for your next land and property purchase.

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