Lifestyle

5 Places You Should Never Buy Landed Property In Nigeria

Published

2 years ago

Jun 7, 2022.

EDITOR’S PICK:

Buying a property is one of the biggest investments you can make. With such huge sums of money involved you want to be certain you make the correct decision.There are many things you need to look into before buying a landed property.

You have to make sure the location of the property meet all your requirements and be a safe place to live in. However, many new homeowners don’t do proper research and suffer the consequences later.

So, in this article on EKO HOT BLOG we would be looking at places you should never buy a landed property in Nigeria.

1. High Risk Area

“Is the location where the land is located secure?” you might wonder. When investing in Landed property in a specific place, security is quite crucial and should be one of your top priorities. Any area where crime is on the rise, such as arm robbery, neighborhood vandalism, and crime, should be avoided while purchasing real estate.

2. Government Acquisition Property

Avoid government acquisition properties since purchasing and developing one could result in its demolition without compensation from the government tomorrow. However, before you buy a landed property make sure you know everything there is to know about the area. Check to see if the land is owned by the government; if it is, don’t buy it.

3. Close to a High-TensionTransmission cable

This is very risky and should be avoided at all cost. You should consider the risk of the wires cracking or the pylons collapsing and landing on your house or other property, But beyond that there are standard set backs and if your land is up to 20metres close to a Powerline your structure may not get approved. So take your surveyor along and find out the right of way set back rules. We have distinct rules depending on the KVA rating of the transmission line.

4. On a Drainage Pathway or Water Bodies

Construction of building or structures on a propose drainage pathway or water body is very dangerous not just for the property owner but the environment at large. This prevents free flow of water when it rains and can lead to flooding of an area, health issues and even death. If there is an existing drain beneath or near your intended property, avoid buying it. Also, there should be a standard setback of not less than 9/15 metres (for streams and rivers) and as high as 100/150metres(if it is by the Ocean), this can mean your entire plot is unbuildable if the bounding area of the land is shorter than the specified lengths.

5. Along Railway or Oil pipelines

We must have heard of various fire explosion within the country.

FURTHER READING

As a general guideline, do not buy landed property that is not more than 25 metres away from a Petroleum Pipeline or a Railway Line.

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