Should you buy land from real estate developers in Nigeria?
Yes, if you want a good environment full of rich people. You can also buy from them if you want a place to live. This is simply because their lands are usually safe and you will usually not have any issue with Omo oniles(land grabbers) if you buy from a good real estate development company.
No, don’t buy from them if you’re investing to make money and profit in a few years to come. This is because:
- Most of their deals are usually premium prices. It will be hard for you to resell and make a profit without waiting too long after the purchase
- Also, they reserve the best places(the front) in their estate for themselves so they can easily sell it for profit. That is before you can sell your plot of land at the back or middle of the estates, they would have sold 5 plots in the front(they’re now your direct competitor)
- Most of their estates are usually very far(a bad location for you if you intend to resell soon)
- Some of the estate developers employ bad business tactics (I will share more details about this later). Anyways, I want you to know this one; some of their drivers over speed a lot, thus making the distance look short but at the same time putting your life in danger of a car crash(accident).
I will stop here for now and I hope with the few points of mine, you have gained some insights on how to deal with real estate developers in Nigeria.
I know that there are exceptions, and this article is just to give you some insights into their dealings. You still need to do a lot of research when buying real estate from any company.
