Investing in real estate remains one of the most powerful paths to financial freedom in Nigeria. It’s more than just buying land; it’s about building wealth, creating security, and leaving a legacy for generations.
But here’s the painful truth: every year, thousands of Nigerians lose millions of naira to avoidable real estate mistakes. This is not due to a poor market, but rather to the investors’ inability to make well-informed decisions.
Understanding these pitfalls can save you from becoming another statistic, whether you’re buying your first plot of land or expanding your investment portfolio.
In this guide, we’ll delve into the six most common mistakes Nigerians make when investing in real estate and provide expert advice on how to avoid them.
Failing to Verify Property Documents
This is by far the biggest and most expensive mistake.
Many Nigerians buy land or property based on trust. A friend recommends it. A relative says it’s safe. An agent sounds convincing. But no matter how trustworthy someone seems, real estate decisions must be backed by documents, not relationships.
Before buying any property, verify every document from the Certificate of Occupancy (C of O) to the Deed of Assignment, Registered Survey, or Governor’s Consent.
Don’t stop at seeing photocopies. Please bring the documents to the Land Registry to verify their existence in the government’s records. If the land registry of your state can’t trace those property documents, they don’t exist, and neither should your transaction.
Remember: What you don’t verify, you will eventually regret.
If you want to go deeper, see our guide on how to verify land documents in Nigeria for practical steps and examples.
Falling for Sweet Talk and Hype
Nigerian real estate is full of persuasive salespeople, from marketers who promise “instant ROI” to agents who say, “The price will double by tomorrow.”
Many of these pitches play on urgency and fear of missing out. But here’s the truth: real estate doesn’t reward speed; it rewards strategy.
Before you buy into any deal, ask tough questions:
What’s the title status of this property?
Who are the developers behind it?
Has the land been verified by government agencies?
Can I speak with past buyers or visit the site myself?
Visit the location, talk to locals, consult your lawyer, and verify everything yourself. Don’t buy into stories; buy into proof.
If it sounds too good to be true, it’s not an opportunity; it’s bait.
Not Defining Your Purpose for Investing
Every property has a purpose, and every investor should have one too.
Are you buying to build immediately?
Are you buying to resell in a few years?
Or are you buying to hold long-term for appreciation?
Without clear intent, you’ll likely invest in the wrong type of property.
For instance:
If you’re buying to build now, avoid properties meant for land banking or those in undeveloped areas.
If you’re buying to resell in 2–3 years, don’t buy land in regions projected to develop in 10.
If you’re buying for long-term holding, location and projected government development plans matter more than short-term access.
In short, your goal determines your property. Before you pay for land, be clear about your “why.”
Ignoring Professionals
Real estate investment is not DIY. Despite this, many Nigerians disregard the professionals trained to safeguard them.
You need three key professionals in every real estate transaction:
A Lawyer – to conduct a title search, prepare or review legal documents, and ensure ownership transfer is valid.
A Surveyor – to verify boundaries, confirm coordinates, and ensure the land is not under government acquisition.
A Real Estate Consultant – to advise you on the property’s market value, potential ROI, and neighbourhood dynamics.
These experts may cost money, but their advice is far cheaper than losing your life savings to a disastrous deal. Think of professional fees as insurance, not an expense.
Rushing Into Deals Under Pressure
If you ever hear,
“We have only two plots left.”
“Someone else is paying this evening.”
“If you don’t buy now, the price doubles tomorrow.”
Walk away.
Urgency is one of the most powerful tools scammers use to cloud judgment. A genuine property transaction allows you time for inspection, due diligence, and legal verification.
Real estate opportunities come and go every day. But once your money leaves your account without clarity, it’s gone for good.
So, if a seller or agent doesn’t give you breathing room to verify documents, consult professionals, and inspect the property — that’s your cue to pause, not pay.
Ignoring Government Development Plans
A property might look perfect today, dry land, good access road, affordable price, but if it doesn’t align with government plans, it might become a liability tomorrow.
Before buying land, ask:
What is the government’s zoning plan for this area?
Is it earmarked for industrial, residential, or agricultural use?
Is it under any form of government acquisition?
You can check with your surveyor or the urban planning department of your state.
Buying residential property in an area marked for future industrial development means that one day, the government could reclaim it and you’ll lose your investment. Smart investors don’t just buy land; they buy into the future of that land.
Final Thoughts:
Real Estate Rewards Wisdom, Not Speed
The Nigerian real estate market is full of opportunity, but it also punishes ignorance.
From document forgery to government takeovers, every mistake listed here has cost someone millions. But the good news? Every one of them is avoidable.
So, before your next property purchase:
Verify documents.
Don’t fall for hype.
Define your goal.
Consult professionals.
Avoid pressure.
Check government plans.
Do these consistently, and your next investment won’t just be safe, it’ll be smart.
Your Turn
Which of these mistakes have you made or seen others make in the past?
Share your experience in the comments. Your story could save another investor from losing their life savings.
If you’re planning to buy land or property in Port Harcourt (or anywhere in Nigeria), we can help you verify documents, conduct due diligence, and secure profitable investments safely.
Book a free inspection or consultation with Win Realty today.
My team and I will guide you every step of the way from inspection to ownership with transparency and expertise.
