5 Hidden Problems to Check Before Paying for a Cheap House in Nigeria
- A cheap apartment in Nigeria may come with hidden costs and living challenges that make it less affordable in the long run
- Tenants should check water supply, electricity, flooding history and security before paying for a property
- They should also calculate all extra charges, including agency, legal, caution, water, security and maintenance fees, before deciding to move in
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Legit.ng journalist Victor Enengedi has over a decade's experience covering energy, MSMEs, technology, banking and the economy.
A cheap apartment may look like a good deal, but low rent can sometimes hide additional costs and serious living challenges.
Some seemingly cheap apartments can come with poor water supply, unreliable electricity, flooding, security concerns and extra charges that can significantly increase the cost of living.
Source: UGC
Before paying for an apartment simply because the rent appears attractive, prospective tenants should investigate the property and surrounding environment carefully.
Here are five important things to check before committing to a seemingly affordable apartment.
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1. Water supply
Before paying rent, find out exactly how water is supplied to the property. Ask whether the building has a functioning borehole, public water connection or a shared water system.
It is also important to speak with existing tenants about how reliable the supply is. Find out whether residents contribute separately towards pumping, repairs or maintenance, as these additional payments can increase your monthly expenses.
A property with cheap rent may not remain affordable if tenants have to regularly buy water because of an unreliable supply.
2. Power situation
Electricity is another major factor to consider when assessing the true cost of an apartment. Ask residents how many hours of public electricity the area typically receives and whether the building has an individual prepaid meter.
Spending a lot of fueling generators can quickly add up, particularly in areas where power supply is unreliable.
3. Flooding history
Never judge an apartment's location only by what you see on a dry day. Find out whether the neighbourhood has experienced flooding, particularly during periods of heavy rainfall.
Inspect the drainage around the building and ask nearby residents about previous flooding incidents. Their experience can reveal problems that may not be obvious during a routine inspection.
A low rent may not be worth the financial losses and inconvenience that can come with living in a flood-prone area.
4. Security conditions
Do not rely solely on an agent's assurance that an area is secure. Speak with people living nearby and ask practical questions about theft, burglary and other security incidents.
Check whether the street has adequate lighting and whether residents have organised security arrangements or employ private security personnel.
Understanding the security situation before moving in can help you avoid choosing a property simply because its rent is attractive.
5. Total move-in cost
Finally, calculate the actual amount you will need to pay before moving in. The advertised annual rent may only be one part of the total cost.
Ask for a complete breakdown covering the rent, agency fee, agreement or legal fee, caution deposit and any other compulsory charges.
Once you know the full cost, you can determine whether the apartment is genuinely affordable or merely appears cheap because some expenses were left out of the advertised rent.
Source: UGC
Ultimately, the cheapest apartment is not always the best bargain. Taking time to investigate these five areas before paying can help prospective tenants avoid hidden expenses, poor living conditions and costly mistakes.
Building a house on a N300,000 to N500,000 salary
Legit.ng earlier shared details about the feasibility of building a house on a monthly salary of N300,000 to N500,000 in Nigeria.
Many may find the prospect daunting amid rising construction costs, yet with strategic planning and a gradual approach, homeownership can become a tangible goal for salary earners.
Source: Legit.ng
