Hidden Costs to Watch Out for When Buying a Property in Lagos

Buying property in Lagos can be one of the smartest investments you’ll ever make — but it can also become a financial headache if you overlook the hidden costs involved. Beyond the listed price, there are additional expenses every buyer should be aware of before signing any papers. At DDG Giant Homes, we believe in keeping clients informed so they can make smart, transparent decisions.

💡 Common Hidden Costs You Should Know

1️⃣ Documentation & Legal Fees

Every property transaction in Lagos involves legal documentation, including agreements, title verification, and drafting of contracts. Skipping this step can cost you more in the long run, especially if disputes arise. Always budget for lawyer’s fees and registration costs.

2️⃣ Survey & Title Processing

If you’re buying land, a professional survey plan and title registration with the Lagos State Government are non-negotiable. These protect your ownership rights, but they also come with fees you must plan for.

3️⃣ Development & Infrastructure Levies

Many estates in Lagos, especially gated communities, charge levies for infrastructure development — such as roads, drainage, electricity, and security. These are sometimes separate from the purchase price.

4️⃣ Agency Fees

If you go through an agent or consultant, expect to pay an agency commission. This is usually 5% of the property value for sales and 10% of annual rent for rentals.

5️⃣ Service Charges

For properties in serviced estates or apartments, there may be ongoing service charges covering waste disposal, security, water, and maintenance. While these charges add comfort, they also increase your annual costs.

✅ How to Protect Yourself

• Do a full cost breakdown before paying. Ask the seller or developer for all fees upfront.
• Work with professionals — surveyors, lawyers, and consultants to avoid fraud.
• Budget beyond the purchase price (at least 10–15% extra for hidden costs).
• Only buy from trusted developers like DDG Giant Homes, where transparency and client trust are non-negotiable.

📞 Ready to Buy Smart?

At DDG Giant Homes, we guide you every step of the way — from due diligence to final purchase.

👉 Call/WhatsApp: +234 803 232 8341
👉 Website: ddggianthomes.com

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