Avoid costly land purchase mistakes. Learn why 70% of first-time land buyers regret their first property investment and discover expert strategies for buying land confidently with Ose-Rich Properties & Investments.
Introduction
The excitement of acquiring land often blinds first-time land buyers to the realities of real estate investment. Recent studies reveal that nearly 70% of first-time land buyers in Nigeria regret their initial purchase. Interestingly, their dissatisfaction stems not from the property itself but from the missteps made during the acquisition process.
At Ose-Rich Properties & Investments, we believe in empowering clients with knowledge to make confident, future-proof investments. This guide outlines the key mistakes to avoid and practical steps to secure your land investment wisely.
1. Failure to Verify Title Documents
One major mistake first-time land buyers make is neglecting proper verification of land titles. Many buyers trust verbal assurances or accept incomplete documentation, such as mere survey plans or receipts.
Professional Recommendation:
Always work with a certified real estate lawyer to perform a title search at the Ministry of Lands. Confirm the existence of legal documentation like a Certificate of Occupancy (C of O) or Governor’s Consent before making any financial commitment.
Helpful Resource:
Learn more about the importance of title verification before buying property.
For verified, titled properties, explore our Listings at Ose-Rich Properties.
2. Prioritising Price Over Purpose
Affordability often seduces first-time land buyers into purchasing plots that do not serve their investment goals. Sadly, cheaper land in undeveloped or disputed areas frequently delivers poor returns.
Professional Recommendation:
Define your investment objective early — whether for immediate development, mid-term resale, or long-term appreciation. Align your purchase with your strategic goals to ensure sustained growth.
Helpful Resource:
Read this guide on factors to consider before buying land.
Browse our tailored Investment Opportunities designed for various objectives and budgets.
3. Skipping Physical Inspection
First-time buyers sometimes rely solely on photographs, videos, or sweet talk from agents without conducting site visits — a costly oversight.
Professional Recommendation:
Always perform a physical inspection. If you cannot personally visit, hire a trusted representative or surveyor. Assess factors such as road access, neighbourhood development, and physical topography to prevent future regrets.
Helpful Resource:
Here’s why physical inspection is critical when buying land.
Ose-Rich Properties offers guided inspection tours to assist you in evaluating prospective properties comprehensively.
4. Underestimating Hidden Costs
First-time land buyers frequently overlook ancillary costs beyond the purchase price, including survey fees, legal documentation, and community charges.
Professional Recommendation:
Demand a full financial breakdown before purchase. At Ose-Rich Properties, our transparent client engagement process ensures you are fully aware of all potential costs associated with your transaction.
Helpful Resource:
Learn about hidden costs of land purchase.
See how we work with first-time buyers to make the process clear and hassle-free.
5. Purchasing from Unverified Sellers
Transacting with unverified sellers — such as “Omo Onile” or informal agents — remains one of the leading causes of land ownership disputes in Nigeria.
Professional Recommendation:
Purchase only from reputable and legally registered companies. At Ose-Rich Properties & Investments, we provide verifiable titles, secured transactions, and post-sale support to safeguard your investment.
Protect your investment journey with our due diligence process.
Buy Smart, Not in Haste
Land acquisition is a major milestone in wealth creation, but it demands patience, due diligence, and professional guidance. By learning from common first-time buyer mistakes, you can position yourself for a successful real estate investment journey.
At Ose-Rich Properties & Investments, we help first-time land buyers make informed, confident decisions that build generational wealth.
Take your first step, today
Ready to take the first smart step towards land ownership?
Contact Ose-Rich Properties today for a free, no-obligation consultation.
Let’s guide you towards a property investment you’ll be proud of for decades to come.