Step 1: Define Your Budget and Purpose

Before you search listings, answer two questions: What is your maximum all-in budget? (Include legal fees at ~3–5% and agency fees at 5–10% of purchase price.) And what is the purpose? Personal use, rental income, or capital appreciation require different locations and property types.

A realistic entry point for a verified Lagos property in an established estate starts around ₦45–80 million for a 1-bed apartment. In Lekki or Ajah, 2-bed apartments in gated estates range ₦80–180 million depending on developer and finish.

Step 2: Choose Location Based on Purpose

Match location to your investment logic:

• Rental income: Lekki Phase 1, Victoria Island, Gbagada
• Capital growth: Ajah, Sangotedo, Ibeju-Lekki
• Personal use / holiday home: Ikoyi, Banana Island, Lekki Phase 1

Step 3: Verify Developer and Title

This is where most first-timers skip steps and pay for it. Checklist before committing:

• Confirm developer has minimum two fully delivered projects
• Request the land title (C of O or Governor's Consent) and verify with Lagos State Land Registry
• Engage your own solicitor — never rely on the developer's lawyer alone
• Confirm estate management structures (service charge, security, facilities management)

Step 4: Negotiate, Agree Terms, Sign

Key documents in a Lagos property transaction:

• Letter of Offer — records agreed price and terms
• Contract of Sale — binding agreement; review carefully
• Deed of Assignment — transfers title; must be registered
• Receipt — for all payments made

Never make cash transfers without paper documentation at every stage.

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