5 Tips For First-time Home Buyers

Buying your first home in Nigeria can be both exciting and daunting. If you’re ready to buy but unsure where to start, these tips will guide you through the process.

Preparing to Buy Tips

1. Start Saving Early

Calculate how much money you need for a house, considering both one-time and recurring expenses.

2. Determine How Much You Can Afford

Before house hunting, figure out your budget. Use a home affordability calculator to set a price range based on your income, debt, and down payment.

3. Narrow Down Your House and Neighborhood

Consider the pros and cons of different home types and neighborhoods:

• Existing Homes: Usually cheaper than new constructions but might need more repairs.
• Terraces/Townhomes: More affordable but with shared walls and potential HOA fees.
• Manufactured Homes: Budget-friendly but may need special financing.

Think about long-term needs and whether a starter or forever home suits you. Research neighborhoods for property values, taxes, safety, schools, and amenities. Check how far it is if you work away from home.

4. Stick to Your Budget

Set a budget and adhere to it to avoid financial strain. In competitive markets, look at homes below your budget to leave room for bidding. In buyer’s markets, consider homes slightly above your limit.

5. Make the Most of Walk-Throughs and Open Houses

While online tours are helpful, visiting homes in person is very important. Pay attention to noise, odors, and the home’s overall condition. Ask about the age and type of electrical and plumbing systems and the roof.

Following these steps will help you navigate the home-buying process in Nigeria with confidence, especially in Abuja. If you need professional advice, feel free to reach out us at Starzij Properties.

Happy house hunting!