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Nairaland Forum / Nairaland / General / Properties / Buying A Flat In Lagos, Is It A Good Idea! (1709 Views)
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Buying A Flat In Lagos, Is It A Good Idea! by bebe2(f): 12:28pm On Sep 07, 2018 |
Hello all Pls am thinking of buying a 3bedroom flat in Megamound estate Ukot a Lekki, where a 4bed duplex goes for about 90m, plots of land go for 90k psqmtr, the flat is going for 30m. I personally love this estate, but can’t afford much there so am opting for a flat. Now the dilemma is, the estate management fee is 435k per annum including insurance. Which I think is too high. Can someone enlighten me of how these things are run? I just need general advise on which way to go. |
Re: Buying A Flat In Lagos, Is It A Good Idea! by clarocuzioo(m): 2:16pm On Sep 07, 2018 |
My sincere advice, developers' estates in lagos are scam. After buying houses, indirectly you are still paying rents. With #90m you can buy land and build house within three months. Trust me in future you won't enjoy paying all those charges. There are good locations to buy lands around Ajah and Ikota, why going to in prison yourself? I dont want to say much here let it not look like am spoiling Megamound Business pls. Call me on 07018078581 3 Likes |
Re: Buying A Flat In Lagos, Is It A Good Idea! by bebe2(f): 4:35pm On Sep 07, 2018 |
clarocuzioo: I totally understand u but Megamound has created an exceptional environment for its residents. If I had the money I would say it’s worth it. The problem I have is the estate maintainance fee, #435k for a serviced flat, while the duplex are charged 180k. Am hoping someone who has bought an Appartment on the Lekki axis can shed more light on the issue. |
Re: Buying A Flat In Lagos, Is It A Good Idea! by marylandcakes: 5:50am On Sep 12, 2018 |
bebe2:Although I’ve never bought an apartment in Nigeria I built. If the flats are as good as you say and everything is above board. 435k is not too much. In order the maintain the standard of the flats this will cost money. You don’t want to buy the flat and a few years down the line due to lack of maintenance it goes down hill. If you convert that to pounds that’s roughly £1k which is the average annual service charge for a two bed in London. 1 Like |
Re: Buying A Flat In Lagos, Is It A Good Idea! by bebe2(f): 9:26am On Sep 12, 2018 |
marylandcakes: Am just confused and being broke is not helping, I Can get a plot in this estate for 30m, and build a nice duplex but I no get money, lol How can I run away from London and it’s small houses and then be squashed into a flat in Nigeria? The plan for the flats seem good, but can it make enough money from air bnb to sustain itself when am not there? Questions plenty jare |
Re: Buying A Flat In Lagos, Is It A Good Idea! by marylandcakes: 8:44pm On Sep 12, 2018 |
bebe2: With30m you can buy land and built a small cottage with a nice garden , you can plant your organic vegetables and keep chickens and goats. 1 Like |
Re: Buying A Flat In Lagos, Is It A Good Idea! by bebe2(f): 3:02pm On Sep 13, 2018 |
marylandcakes: Security Nko? The environment also matters. Do u know I have a property in Benin city that I can’t sleep in? Location is the problem. 1 Like |
Re: Buying A Flat In Lagos, Is It A Good Idea! by marylandcakes: 6:52am On Sep 14, 2018 |
bebe2: Which location in Benin? |
Re: Buying A Flat In Lagos, Is It A Good Idea! by bebe2(f): 9:28pm On Sep 14, 2018 |
marylandcakes: Ikpoba hill after ADUWAWA |
Re: Buying A Flat In Lagos, Is It A Good Idea! by Nobody: 10:46pm On Sep 14, 2018 |
bebe2: Good evening ma, how is your house in Benin? Megamound is a nice place to buy properties, if you have the money it is worth it. 1 Like |
Re: Buying A Flat In Lagos, Is It A Good Idea! by bebe2(f): 11:58am On Sep 15, 2018 |
segzy14: Bro how u Dey? long time, the Benin property is there, I have given up on the house, at least it’s habitable. Megamound is and was my first love in property But it keeps slipping out of my price range. It’s very frustrating. It’s 90k per square metre at the moment. The Appartments have a payment plan, but the restrictions dat comes with owning an apartment isn’t appealing to me. 1 Like |
Re: Buying A Flat In Lagos, Is It A Good Idea! by marylandcakes: 10:03pm On Sep 15, 2018 |
bebe2: I don’t know that area. |
Re: Buying A Flat In Lagos, Is It A Good Idea! by bebe2(f): 11:54pm On Sep 15, 2018 |
marylandcakes: What? Abi u don’t know Benin, am sure u went to uniben so u only know ugbowo 1 Like |
Re: Buying A Flat In Lagos, Is It A Good Idea! by seuncyrus(m): 12:33am On Sep 16, 2018 |
The service charge is ridiculously high but it still isn't the highest i've heard of. It's just like paying house rent after owning your own home . Just make sure the agents in charge are being completely honest with , let them tell you what exactly the service charge covers to make it that high. For anyone looking to invest in ibeju lekki , Learn more about ibeju lekki 1 Like |
Re: Buying A Flat In Lagos, Is It A Good Idea! by marylandcakes: 4:08am On Sep 16, 2018 |
bebe2: What I mean is that it’s not an area I’m conversant with. I don’t really know anyone that lives there. I’m more conversant with areas around the ring road. I didn’t go to Uniben either I schooled at AAU Ekpoma . I know you pass through ikpoba hill to get there lol, so only know the area from the inside of a vehicle, if you know what I mean. |
Re: Buying A Flat In Lagos, Is It A Good Idea! by bebe2(f): 2:06pm On Sep 16, 2018 |
marylandcakes: Got it, lol at knowing the from the inside of a vehicle. |
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