In this article, you will learn about various factors to consider before you buy land in Epe, Lagos State. You need to learn about the Epe town and the benefits of investing in the fast-developing town. You also need to know the pitfalls to avoid. After reading this article to the end, you will be able to conclude if Epe is a good location for real estate investing.Â
Table of contents
Introduction
Epe is a town and Local Government Area (LGA) in Lagos State, Nigeria located on the north side of the Lekki Lagoon and about 90 km from Ibadan.The strategic location of the Epe town, gives it the advantage of a gateway city. As Epe continues to grow, it is becoming a popular destination for real estate investment.
It is important to ask these questions before buying land in Epe. This will prevent you from investing in the wrong properties. The response of the seller or agent will determine whether the land is safe to buy or not. I have listed five questions you must ask before putting your money into any landed property, either for immediate development or for land banking.:
Questions You Should Ask Before Buying Land in Epe
1. What is the Title of the Land?
A title check will tell you if the dealer has the necessary title rights. If the land has a Registered Survey, C of O, Governor’s Consent, Gazette, or Government Allocation(bought directly from the government), then be rest assured it is safe to buy. If it doesn’t, ask if it is Freehold or it has Excision. If it does, you can go ahead and buy. The Government won’t approve a Registered Survey, C of O, Governor’s Consent, or Gazette if the land is not Excised and still not fall under Freehold.
- Certificate of Occupancy: A Certificate of Occupancy (C of O) is issued by the government of a particular state to lease the land to you for 99 yrs.
- Governor's Consent: A Governor's Consent is required if you are buying a landed property that already has a Certificate of Occupancy.
- Gazette: A Gazette is an official government publication. Records about lands that fall under acquisition and those that have been excised are kept in a Gazette.
If the land you are buying does not have a valid title, do not buy it. There is a risk that the seller does not actually own the land, or that they may not have the right to sell it.
2. How is the property zoned?
You need to be aware of what you can do on the land. Is it residential, commercial/industrial, agricultural, or mixed-use land? If the land is within a commercial zone, it is advisable not to put your money into it if you are looking for residential or agricultural land..
Some of the most common property zones in Epe
- Residential Zones: These zones permit landowners to construct single-family homes, apartments, and other residential buildings.
- Agriculture Zones: These areas can only be used for agricultural purposes such as crop production, fishery, cattle rearing, etc. For example, the majority of Ketu, Epe fall within the agricultural zone in Epe. So many people have been deceived to believe that the location is residential.
- Commercial Zones: These zones are used for the construction of business such as shops, restaurants, and offices.
- Industrial Zones: Those who buy land in industrial zones are only allowed to construct factories, warehouses, and other industrial buildings.
- Mixed-use Zones: This zoning allows for a combination of residential, commercial, industrial, and agricultural uses.
3. Are there any structural restrictions in the zone?
In addition to zoning restrictions, before you buy land in Epe, you need to ask if there are restrictions on the kind of structures you can put on your land. You won’t be happy when you discover that your building preference is not allowed within that environment. Knowing this on time will save you from buying a property that you cannot use.
4. Is the road to the property accessible?
A real estate investor nearly bought land without road accessibility. It means he will have to park his vehicle about three houses away. When he decides to start developing the property, it will be difficult to convey building materials to the exact land. Make sure there is an access road. Make sure that there is an access road to the land. If there is no access road, it will be difficult to get to the land and to build on it.
5. Who are your potential neighbours in the location?
Before you buy land in Epe, find out if there are any near updates that will affect your land use. Buying a land very close to a factory may not be favourable in terms of possible noise or air pollution. If possible, find out who owns the parcels surrounding the piece of land and, most importantly, whether there are any ongoing issues with them over effects like boundary lines or access rights.
Conclusion
Asking the right questions before buying land in Epe is not just about the convenience of price, it is also important to guard your rights and protect your interest as a land buyer. We hope you will ask the right questions before you buy your next landed property. For inquiries, do not hesitate to contact us.
ALSO READ: