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10 IMPORTANT KEY STEPS TO TAKE WHEN BUYING A HOUSE OR LAND PROPERTY IN NIGERIA

10 IMPORTANT KEY STEPS TO TAKE WHEN BUYING A HOUSE OR LAND PROPERTY IN NIGERIA

Buying a house or land property is a significant milestone in one’s life, and it is essential to make informed decisions throughout the process. In Nigeria, the real estate market offers a plethora of opportunities, but navigating through the complexities can be challenging. This comprehensive guide aims to provide aspiring homeowners with a step-by-step approach to buying a house or land property in Nigeria. By following these ten key steps, potential buyers can make well-informed decisions,...
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UNDERSTANDING THE SIZES OF LAND IN NIGERIA: PLOTS, ACRES AND HECTARES EXPLAINED

UNDERSTANDING THE SIZES OF LAND IN NIGERIA: PLOTS, ACRES AND HECTARES EXPLAINED

In Nigeria, land measurements are commonly expressed in three main units: plots, acres, and hectares. Each unit represents a different size of land, and understanding these measurements is crucial when buying or selling property. Let’s delve into the details of each unit: A PLOT OF LAND A plot of land refers to a specific unit of measurement commonly used to quantify the size of land. The term “plot” is widely recognized and used across the country, particularly in urban and semi-urban areas...
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UNDERSTANDING THE LAGOS STATE HOME OWNERSHIP MORTGAGE SCHEME ( LAGOS HOMS)

UNDERSTANDING THE LAGOS STATE HOME OWNERSHIP MORTGAGE SCHEME ( LAGOS HOMS)

The Lagos State Home Ownership Mortgage Scheme (Lagos HOMS) is a groundbreaking initiative by the Lagos State Government in Nigeria aimed at providing affordable housing options for its residents. Launched in 2014, the scheme has been instrumental in addressing the housing deficit in Lagos and has significantly improved access to homeownership for many individuals and families. Lagos, being one of the most populous cities in Africa, faces a significant housing challenge. The increasing popula...
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HOUSE RENT: UNDERSTANDING THE DIFFERENCE BETWEEN MINI-FLAT AND SELF-CONTAIN

HOUSE RENT: UNDERSTANDING THE DIFFERENCE BETWEEN MINI-FLAT AND SELF-CONTAIN

The housing market is vast and diverse, offering a variety of options to suit different needs and preferences. Two popular choices for individuals or small families are mini flats and self-contained apartments. While both options offer a compact living space, there are distinct differences between the two that potential tenants should consider before making a decision. Firstly, let us explore the concept of a mini flat. A mini flat is a small, self-contained living space typically consisting...
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UNDERSTANDING THE NEW LAGOS STATE TENANCY LAW / AGREEMENTS

UNDERSTANDING THE NEW LAGOS STATE TENANCY LAW / AGREEMENTS

Introduction The Lagos State Tenancy Law represents a significant milestone in the regulation of the rental market in Nigeria’s bustling commercial hub. The law, which came into effect in August 2011, aims to protect the rights of both landlords and tenants, promote transparency, and ensure fair practices in the rental sector. This article provides a detailed overview of the key provisions of the new Lagos State Tenancy Law, empowering both tenants and landlords with the knowledge necessary to...
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