Many Nigerians save for years to buy land or a house, only to be surprised later by extra expenses they weren’t prepared for. These hidden costs can cause frustration or even legal troubles.
Here are the common ones to watch out for:
1. Legal and Agency Fees
Lawyers and agents help process your transaction, and their fees usually range between 5–10% of the property price.
2. Documentation and Registration
From deed of assignment to governor’s consent, you’ll need to budget for proper registration of your property. Skipping this can make your ownership invalid.
3. Survey and Planning Approvals
If it’s land, you’ll need a survey plan. If it’s a building, you’ll need approval from local authorities.
4. Taxes and Government Charges
Property tax, land use charge, and in some cases development levies must be paid regularly.
5. Community and Association Fees
In estates or local areas, you may be required to contribute to security, road maintenance, or other communal services.
6. Maintenance Costs
For homes, remember electricity bills, repairs, water, and general upkeep.
Conclusion
Buying property doesn’t end with the purchase price. Smart investors prepare for the hidden costs so they aren’t caught off guard.
At Debonchiiglobal Properties, we pride ourselves on transparency. We don’t just sell — we educate you about all possible costs, help you process documents, and make sure your property ownership is smooth and stress-free.
✨ Already own property but struggling with documentation or community fees? Reach out to us — we can guide you through it.
💬 Over to you:
What extra costs surprised you the most when buying or owning property? Share your story in the comments below — it might help someone else!
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