First-Time Home Buyer's Complete Guide
A step-by-step course covering everything you will need to find, evaluate and safely buy your first property in Nigeria. From search to signed documents.
By Property Vault Team · Beginner
- 8
- Modules
- 45min
- Total time
- Free
- Price
- 2.4k
- Enrolled
Welcome
Buying your first home is exciting, but it also comes with important decisions. This guide walks you through the entire process, helping you avoid common mistakes and make informed choices with confidence.
What you'll learn
- Planning your budget
- Finding verified properties
- Understanding title documents
- Inspecting a property
- Negotiating the right price
- Completing your purchase safely
Step 1: Plan Your Budget
Determine your maximum total purchase budget including hidden costs like legal fees (usually 5%), survey fees, stamp duty, and agency commissions. Ensure you set aside an emergency contingency fund of at least 10% for immediate repairs or post-purchase modifications.
Step 2: Inspect Properties & Verify Documentation
Never pay a commitment fee before physically inspecting the property and cross-checking the title documents (C of O, Governor's Consent, or Gazette) at the state Ministry of Lands. Verify that the seller has undisputed ownership rights.
Step 3: Negotiate & Execute Contract of Sale
Work with a qualified property lawyer to draft or review the Deed of Assignment and Contract of Sale. Ensure payment is made through verified banking channels directly to the designated escrow or verified property owner account.