Landed properties are one of the most expensive purchases you will make during your lifetime, and it is normal to be nervous about the entire process. During this process, you will get lots of advice from friends, family, and colleagues which might get you more confused. Most people who have taken bad pieces of bad advice ended up with a lot of regrets.
Ibeju Lekki is a place with lots of potentials but most investors tend to be careful with details before putting in their money. Here are the 10 worst pieces of advice we have ever heard about buying land in Ibeju Lekki ;
1. It is not important to purchase a landed property in Ibeju Lekki now until the price is right
This advice is wrong because it is always advisable for land buyers to purchase plots of land as soon as possible. No one loses from buying any real estate property at certain times. The value of your money keeps going down day by day due to inflation. If you keep waiting for the price to be right, your money gets weaker. If the price of landed properties go down slightly, during your waiting period the value of your money will also go down. There is absolutely no point waiting at all for the price of landed properties to be right and it is advisable to make your move as soon as you can.
2. The elderly people have more experience in buying and selling of landed properties in Ibeju Lekki
Elderly people have a way of advising you to let go of a landed property that you love so much. I am not disputing the fact that most of the advice they give is because of the best interest they have for you but some of the advice they give can lead you into making the wrong choices. Most elderly people will talk you into purchasing low budget properties within cheaper environs in Lagos simply because they are helping you save some money after your purchase. Do not let a few thousand bucks stand between you and a great investment opportunity in Ibeju Lekki.
3. Buy directly from the seller instead of working with a Realtor
This is one of the worst pieces of advice anyone will give to you. Some people will advice land purchasers to buy directly from the landlord in order to have the landed property sold to them at a lower price rather than go through an agent who will demand too much money from his or her commission. The commission is usually negotiated by the land agent and the seller before the buyer comes into play. Whoever is selling the landed property has already agreed to pay a specified commission to the listing agent. As a land buyer, it is advisable to also get an agent who will represent you and provide you with good advice on the value of the landed property you want to purchase. Your agent can help you better negotiate with the seller. Not having a real estate agent who has the expertise to represent you can make you vulnerable.
4. You can’t afford landed properties in Ibeju Lekki
This is another common lie in the real estate market. Many people will tell land buyers to purchase a landed property within their budget and ignore landed properties in Ibeju Lekki which may be 10 times beyond their budget. The assumption here is simply allocating some budget on buying a landed property up to a limit that is decided by someone else. The best advice here is purchasing a landed property within a suitable location that suits your taste and lifestyle. If Ibeju Lekki is suitable to you, then take the bold step and the rest will pan out well.
5. Property Value will always increase if you build the perfect structure in Ibeju Lekki
No one has an idea about the value of a property because we can’t fully predict what the market will look like when you create the perfect structure with the use of your landed property in Ibeju Lekki. Interest rates can rise and trends are transient.
6. Always purchase a landed property at the lowest rate
The worst advice is to offer the seller a very low rate just to break a deal. Buyers want the best-landed property for a cheap rate in Ibeju Lekki. In as much as you are trying to manage your funds, sellers might not want a deal with you due to the demeaning price you want to use to purchase a landed property in ibeju Lekki. Do not end a good deal by opening up an awful offer.
7. Do not spend extra money on land inspection
This advice is terrible because it might cost you a lot later. Regardless of how perfect you think the landed property in Ibeju Lekki is, you should never ignore land inspection without a licensed inspector who will help you see what you couldn’t see. If you ignore this, you just might spend out of your nose for future havocs or damages.
8. A small foundational problem in the land is a small issue
This is not true. The foundation of a real estate property is the core strength of the property. It is not wise to overlook important details. How would you love to spend millions of naira on a landed document only to bite your fingers in future?
9. Don’t ever negotiate with the seller
I earlier mentioned that you should not offer the seller a ridiculous price for his landed property as that could be demeaning. While you shouldn’t do that, it is advisable not to take the advice of people who say you should never negotiate. The seller is always opened to negotiations if you could negotiate right.
10. Purchase based on algorithm
This advice comes from people who are used to surfing the net for landed properties in Ibeju Lekki just to know how much it costs. In as much as there are prices seen online, most time, the algorithm is inaccurate and some are based on estimates. It is advisable to work with an experienced realtor to ensure that you purchase a property in Ibeju Lekki at the right price at the right time.