Hidden Charges you must examine earlier than shopping for a home in Nigeria

Hidden Fees you should check before buying a house in Nigeria

There are numerous affordaple properties on the market in Nigeria, most particularly completed homes. This might be a greater choice as a substitute of shopping for land and constructing from scratch. Constructing from scratch also can have plenty of stress and troubles concerned if not executed correctly. However for potential consumers who’re shopping for completed homes for the primary time, you will need to observe the mandatory charges concerned within the buy.

The possibility of being deceived will increase when shopping for a house since you are dropping a big amount of cash suddenly, and in case you are considered one of their unlucky victims, it will likely be very tough so that you can get well from it.

However Ofcourse, you’ll be able to by no means go fallacious with the fitting info. So learn on to study extra particulars.

Do your analysis earlier than you buy that dwelling to know the extra prices related to shopping for a property that should be paid so that you don’t accrue debt earlier than taking possession.

CHECK: Flats and Residences for Sale

Extra prices you must know


Authorized charges to draft all paperwork are 5% of the property’s price (negotiable), and company charges are 5% of the property’s price (negotiable), A home’s survey plan prices greater than N200,000. Every survey may cost N350,000 if it’s a semi-detached duplex. Solely a authorities surveyor can create a survey plan to divide the property appropriately if you are going to buy it via a authorities program. The subdivision will set you again N750,000.

Even be able to pay as much as N1 million for the unique proprietor of the property doc to signal your deed of task and Type 1c as penalty for the developer not having his registered deed of task if the property doc is a governor’s consent and belongs to somebody aside from the vendor or developer.


That can assist you whenever you need to course of your personal governor’s consent, you want prematurely request the taxes of the unique proprietor of the paperwork. For Occasion in case you are shopping for in Lagos, When it time involves file your paperwork, you need to pay the Lagos State authorities a minimal of N300,000 in taxes. In case you fail to do that, it is going to price you N500,000 or extra to pay the taxes on behalf of the vendor.


It’s higher so that you can plan in case you are conscious of those prices as quickly as doable. Be ready to put aside about N5 million for main renovations in the event you plan to buy an previous home. Keep away from buying a house that you simply gained’t admire by taking your time and planning for all of those related prices earlier than you hurry to purchase.

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