How to Know a Good Land to Buy for Investment in Enugu

Is there a way to know if a land is good for real estate investment in Enugu? The answer is yes. Owning land in Enugu, the Coal City is a big achievement. Enugu is one of Nigeria’s top land investment locations. But not all lands are suitable for investment.

Investing in land is a lucrative venture, but when done wrongly, it can lead to a substantial loss of resources. 

To help you properly utilize your resources, we have put together this article to show you how to know a good land to buy for investment in Enugu before parting with your money. 

Stay calm and digest every line of information we are going to share in this article. 

Ways to Identify a Good Land for Investment in Enugu

Good lands are priceless treasures because you can be sure to get a favorable return on investment from them, no matter how long you hold them before selling or even when you decide to develop them. 

Below are the ways to know if land is good for investment in Enugu. 

1. Title on the Land

It is important to know the title of the land you wish to buy. 

Land titles are documents describing the land, such as a Certificate of Occupancy, Governor’s Consent, Excision, a Deed of Assignment, a Land Registration, and a Survey Plan. So, you should know the document(s) covering the land. 

Generally, each of these documents indicates the specific status of the land. For instance, the land registration and survey plan show that the land has been registered with the Ministry of Lands. What that means is that the Ministry of Lands has cross-checked the land with the masterplan and certified that it is out of government interest. Therefore, any land with any of them is considered safe land.

Also Read: 7 Real Estate Mistakes You Must Not Make If You Live Abroad

2. Land Ownership

Who owns the land? Knowing the land owner before buying it is necessary. Lands can be owned by either an individual(s), a community, or a real estate company that has purchased it from the original owner. 

Before you buy that land, find out who owns it. Is it an individual or a community land? Beyond knowing who owns the land, also find out their personality and reputation. If the original owner is an individual, you ought to know the person. Even if the individual’s land is marketed by a real estate company, the same research should be carried out. 

If it is owned by a real estate company, know the history and track records of the company. Don’t make the mistake of assuming that land is good for investment once it is owned by a real estate company. A company with zero integrity and reputation is not a good company to deal with, and you can only find out if you research the ownership of the land. 

Also Read: 10 Reasons to Invest in Enugu Based on Research

3. Reasonable Pricing

The price of land can be an indicator of whether it is a good investment or not. It is a fact that expensive and cheap are relative and subject to a person’s financial capacity, but by reasonable, we mean a price that reflects the true value of the land.

Some of the factors you have to consider when pricing land are: the accessibility of the land, the availability of landmarks, the speed of development, infrastructure, and major individual and government projects like schools, hospitals, markets, etc. 

A land that doesn’t have these factors present can’t be sold for the same price as one that meets the criteria. 

Lands that meet the above-mentioned criteria are always more expensive and are best for buy and build, but if you want to buy and hold for future decisions, then you are good with lands that don’t currently meet the criteria. 

A land that is not priced reasonably with regard to the factors we mentioned is not a good land for investment. 

4. Good Location 

Before defining what a desirable location is for you, you must have plans for the land. That plan is what determines which location will be suitable for you. 

If you want to build a secondary school, you need lands that are easily accessible. This is not the same as someone who wants to build a university. When it comes siting a university, accessibility isn’t a strong success determinant. 

If the land is in a location that would allow you to achieve your goal without tussling, then it is a good investment.

Also Read: Deed of Assignment vs. Contract of Sale: What Is the Difference?

How to Avoid Falling a Victim of Land Scam in Enugu 

Enugu is a wonderful place to invest in land, but scams exist everywhere regardless. Therefore, you should know the necessary steps you can take to avoid falling victim. 

Below are steps you must take to avoid getting scammed when buying land in Enugu.

• Have a budget for the land investment. A budget helps keep your spending in check by making you aware of your limited resources.
• Have a plan for the land. Having a plan from the beginning makes it easier to identify the locations that will help you execute it. That makes it easier to identify deals that don’t tally with the reality of the location. 
• When investing in land, using a realtor or real estate company helps you reduce unnecessary stress and accelerate the realization of your dreams.
• Do your due diligence. Research the land and the ownership, and also the history and track records of the realtor or real estate company. 
• Inspect the land physically to ascertain that what is shown is what is on the ground. You can send someone whom you trust to go inspect it if you can’t do it yourself. 
• Avoid paying in cash so that you can keep a record of the transaction for future reference.

Conclusion 

Land investment in Enugu is a good choice, but don’t do it blindly.

Land investment is a lucrative venture. However, it comes with its own share of risk, which, if not checked, would result in resource loss. That is why we must know how to know a good land for investment in Enugu. 

Enugu, the Coal City, is a great location with many investment benefits and opportunities. Enugu is one of the safest cities in the Southeast. It’s one of the fastest-growing economies in Nigeria. Therefore, if you follow the information here, you will have a good land that suits your investment goals.

Dear young investor, refuse to be a victim of land scam in Enugu when you can buy from a genuine real estate company. Reach out to me on +2348033352126 or click on this phone number to send me a WhatsApp message, +2348033352126