Buying a home is one of the biggest financial decisions anyone can make. While it’s exciting to tour properties and imagine life in a new space, many homebuyers—especially first-timers—tend to overlook important details that can lead to regret later.
Here are 5 key things you should never ignore when purchasing a home:
1. Hidden Costs Beyond the Purchase Price
Many buyers focus solely on the asking price or mortgage, forgetting about extra costs like:
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Legal fees
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Property taxes
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Agent commissions
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Renovations or repairs
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Service charges (especially in gated estates)
Tip: Always request a full breakdown of costs before making a decision.
2. Future Development Around the Area
That quiet, peaceful neighborhood today could become a noisy commercial hub tomorrow. Check:
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Urban development plans
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Zoning regulations
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Pending road or mall constructions
Tip: Ask your agent about future government or private projects in that area.
3. Water Supply and Drainage Systems
Some buyers only inspect a house during the dry season. But what happens when it rains?
Tip: Ask neighbors about flooding, test water pressure, and check the drainage layout.
4. Documentation and Title Verification
Don’t just take the seller’s word for it. You need to verify:
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C of O (Certificate of Occupancy)
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Survey Plan
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Approved Building Plan
Tip: Hire a professional to conduct a proper land search and verify the documents.
5. Resale Potential or Rental Value
Even if you’re buying to live, consider the future value of the home:
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Is the area appreciating?
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What are similar homes renting for?
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Will the design or location appeal to other buyers?
Tip: Think like an investor, even if you’re buying as an occupant.
đź“Ś Final Thoughts
A dream home shouldn’t turn into a nightmare. Take your time, ask the right questions, and work with experienced professionals. If you need help buying a verified property in Nigeria, Favourmiz Realty is here to guide you.
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