Real Estate Mistakes to Avoid as a First-Time Buyer in Lagos: Complete Guide 2025

Lagos, Nigeria's commercial epicenter, boasts a real estate market that's as promising as it is perilous. With property values appreciating 10-15% annually in prime areas like Lekki, Ikoyi, and Victoria Island, buying your first home here isn't just a milestone it's potentially your most significant investment decision.

But beneath the glossy brochures and impressive skyscrapers lies a complex terrain of legal intricacies, documentation challenges, and investment pitfalls that have left many first-time buyers with empty pockets and unfulfilled dreams

 In 2024 alone, the Lagos State Real Estate Regulatory Authority (LASRERA) reported over 4,000 cases of property fraud and disputes many involving first-time buyers who missed critical warning signs.

This comprehensive guide reveals the seven deadliest mistakes Lagos property newcomers make and provides battle-tested strategies to navigate this dynamic market successfully.

 1. Skipping Due Diligence: The Costliest Shortcut

The excitement of finally owning property in Lagos can cloud judgment. Many buyers rush into deals without proper investigation, only to discover their "dream home" sits on government-acquired land or has multiple claimants.

Avoid it by:

• Verifying land titles at the Lagos State Land Registry

• Engaging a property lawyer, not just an agent

• Investigating the developer’s track record

2. Falling for Sweet-Talking Agents

Many first-time buyers over-rely on agents especially those who prioritize commissions over client interest. Some will deliberately conceal issues with the property or rush you into decisions.

Avoid it by:

• Interviewing multiple agents before choosing one

• Never paying money directly to the agent, deal through legal channels

• Requesting a written agreement that clearly outlines agent responsibilities

3. Not Inspecting the Property Thoroughly

Pictures lie. Rushed tours are deceptive. First-time buyers often fall for polished paint jobs without checking for deeper structural issues.

Avoid it by:

• Inspecting during the rainy season (check for flooding)

• Bringing a professional inspector or contractor

• Looking beyond aesthetics focus on plumbing, wiring, roof integrity, and drainage

4. Ignoring Legal Documentation

No matter how perfect the house looks, if the documentation is shady, it’s a trap. Titles like C of O, Governor’s Consent, or Deed of Assignment are not optional—they're non-negotiable.

Avoid it by:

• Confirming the title documents are authentic and registered

• Verifying land use/zoning from the Ministry of Physical Planning

• Checking for any government acquisition or encumbrances

5. Letting Emotions Drive the Purchase

The Lagos property market is emotionally charged. Buyers fall in love with location, architecture, or “good vibes.” But emotional buying clouds judgement.

Avoid it by:

• Treating home-buying like a business transaction

• Walking away if something doesn’t check out no matter how much you like the place

• Bringing a neutral party or real estate advisor to help assess objectively

6. Underestimating the True Cost

The listed price is rarely the full cost. There are agent fees, legal fees, development levies, infrastructure charges, and more. Many first-timers max out their budgets and end up broke after purchase.

Avoid it by:

• Requesting a full breakdown of all expected costs

• Setting aside 10–20% of the property price as buffer

• Consulting a financial advisor before committing

7. Not Considering the Neighborhood

You’re not just buying a house; you’re buying into a community. Poor drainage, bad roads, noisy neighbors, and insecure surroundings can ruin your experience.

Avoid it by:

• Visiting the neighborhood at different times (morning, night, weekends)

• Asking locals about security, power supply, water, and sanitation

• Checking for nearby flood zones or disputed land boundaries

Lagos is one of Africa’s most lucrative real estate markets, but also one of its most complex. As a first-time buyer, your best asset is information. Patience, professional guidance, and thorough research are your protection against costly mistakes.

Don’t rush. Don’t guess. And never buy on trust alone.

When you're ready, speak with licensed realtors and credible developer to ensure your first property investment is a safe and rewarding one.