How much to buy a house in lagos

The average price of a house for sale in Lagos, Nigeria is ₦120,000,000 (as of November 12, 2023). However, the price of a house can vary widely depending on a number of factors, including:

• Location: The most expensive neighborhoods in Lagos are Ikoyi, Lekki, and Banana Island. Houses in these areas can sell for hundreds of millions of naira. Houses in less expensive neighborhoods, such as Mushin and Alimosho, can sell for as little as a few million naira.
• Size and type of property: Detached houses are more expensive than apartments or townhouses. Larger houses are also more expensive than smaller houses.
• Condition of the property: Houses that are in good condition and have been recently renovated will sell for more than houses that are in need of repair.
• Amenities: Houses with amenities such as swimming pools, gyms, and generators will sell for more than houses without these amenities.
• Proximity to schools, hospitals, and other essential services: Houses that are located close to schools, hospitals, and other essential services will sell for more than houses that are not.

The overall state of the economy can also affect house prices in Lagos. When the economy is doing well, house prices tend to rise. When the economy is doing poorly, house prices tend to fall.

If you are interested in buying a house in Lagos, it is important to do your research and compare prices from different real estate agents. You should also consider your budget and your needs when choosing a property.

Here are some tips for buying a house in Lagos:

• Get pre-approved for a mortgage before you start shopping for a house. This will give you an idea of how much you can afford to borrow and will make the buying process go more smoothly.
• Work with a reputable real estate agent. A good agent can help you find the right house for your needs and budget.
• Be prepared to negotiate. The asking price is just a starting point. Be prepared to negotiate with the seller to get the best possible price.
• Have the house inspected by a qualified inspector before you buy it. This will help you identify any potential problems with the house.

Buying a house is a big investment, but it can be a great decision for your future. By following these tips, you can increase your chances of finding the right house for you and your family at a good price.