Almost every first-time buyer we meet is working with the same information: advice from family, a few listings seen online, and a rough sense of what they can afford. That is usually enough to start, but it is rarely enough to finish well. The mistakes below are the ones that cost buyers the most money and the most time.
1. Shopping before knowing your real budget
The asking price is not what a property costs you. Legal fees, agency commission, survey and search fees, consent fees and stamp duty routinely add ten to fifteen percent on top. Buyers who skip this arithmetic find an ideal home, commit emotionally, and then discover they are short at exactly the moment they have the least room to negotiate.
Work out your all-in number before you view anything. If a mortgage is involved, get a decision in principle first — it also makes your offer far more credible to a seller.
2. Treating documents as a formality
This is the single most expensive mistake in the Nigerian market. A beautiful finish tells you nothing about whether the seller can legally transfer the land to you.
- Confirm the title — Certificate of Occupancy, Governor’s Consent or a registered deed.
- Check the survey plan against the physical boundaries on site.
- Run a search at the state land registry before any deposit changes hands.
- Ask whether the land falls under government acquisition or a committed development scheme.
3. Underestimating the neighbourhood
You are not only buying a building. You are buying a commute, a water supply, a power situation and a set of neighbours. Visit at different times of day — a street that is calm on a Sunday afternoon can be very different on a Monday morning.
4. Skipping the inspection to save money
An inspection costs a fraction of one percent of the purchase price and regularly uncovers problems worth many times that. Roofing, damp, drainage and electrical faults are all far cheaper to negotiate before you own them.
5. Rushing because someone told you to
Urgency is the oldest pressure tactic in property. A genuinely good deal survives a week of due diligence.
If a seller or agent will not allow time for basic checks, that is information about the deal rather than about the market. Walk away and keep looking.
Written by OG Winners Homes
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