You may never find any educational content on land in Omu Ketu apart from websites listing properties in that corridor.

And why so?

It is simple! Everybody wants to sell. Nobody wants to show.

In a recent article, I mentioned how Omu-Ketu has become the most in-demand real estate hotspot in Lagos.

But before I wrote that article, I looked at the people who were buying land in Lagos, and I realized that a lot of them were not buying it with adequate knowledge.

It is this knowledge that many real estate marketers are holding back from the public.

Look, it may not be a popular thing to do, but I will show you what you should know before you buy land in Omu-Ketu.

1. Omu-Ketu is not Ketu-Epe and it is not Epe

If you type “buy land in Omu-Ketu”, you will see lots of websites listing properties in Epe or Ketu. 

It’s a marketing deception that you should not fall into.

The truth is that there’s Omu, there’s Ketu. Omu in Ogun State and Ketu in Lagos State.

Omu-Ketu is the boundary town between Lagos State and Ogun State. It’s immediately after Epe.

The Ketu area is already very developed compared to the Omu area, which makes it more costly.

Epe is also equally developed, being one of the biggest real estate hotspots in Nigeria in the last 7 years.

But the area has come under lots of backlash because the government is now reclaiming most of the land for development.

So, you cannot buy land in Epe without direct approval from the NTDA– the New Town Development Authority.

But the Omu area is mostly still raw land, fast developing, and that’s what agents and real estate companies are selling.

If you insist on buying the Ketu side in Lagos, you will pay more. And you might be paying more for lands with government issues without knowing.

But if you are patient enough to sell later when there is development, you can buy for a lesser price in Omu.

So, that’s the main difference…

Don’t be deceived, and don’t get scammed into thinking that you are buying land in Ketu itself or the backyard of Epe. No, that’s not true

 

2. You Need a Goal Before You Buy

In all my years as a real estate marketer, there is something I tell my buyers…and they are always grateful for it

And that is to ALWAYS HAVE A GOAL IN MIND when buying land… that is, their reasons for investing.

Before you make a payment, you have to ask yourself these questions…

 

Am I buying just because my friends are buying?

Am I buying because I have loose cash I don’t want to put in the bank?

Am I buying because a beautiful real estate agent on Instagram said so?

 

The truth is- you may still make money if you follow any of these steps.

 

But in the long run, you may not be able to build a system that helps you to convert your real estate into cash eventually.

So, what do you do instead?

Sit down and make a plan. 

For instance, if you have 3 million set aside to invest in real estate, you can say you want to buy a plot of 1.5 million (an hypothetical price)

 

You can then choose any of the following options for your land:

• Buy and hold long-term, then resell at an appreciated price
• Build a rental apartment on the land and make money through rent
• Build an event center, hire managers, and make money through short-term uses
• Start a full-fledged shopping complex that has everything people want in that area

 

These are just 4 of the many options you can choose from…

You can also explore recreational real estate such as clubs, restaurants, and hotels.

But my point is, you must have a goal.

Your goal will determine how much you will spend. And how long you will wait before you start seeing returns on your investment. 

 

Here’s the most affordable and genuine land we have for you in Omu Ketu

 

3. You Have To Get Your Documents Right!

The number one reason people lose their land in Nigeria today is solely because they do not have verifiable land documents.

Many times, it is not enough to have documents; you must have good documents.

It is even more risky if you are buying in places like Lagos, where there is a high demand for land. Sellers, especially family landowners, tend to sell to multiple buyers and issue fake documents to all of them at the same time.

This is the real omo onile problem.

To avoid this kind of problem, you must

• Only buy from trusted real estate companies
• Verify documents for authenticity
• Pay land charges where it is required

 

These are 5 land documents that you must have to effectively protect your ownership and title in a place like Omu-Ketu:

• Deed of Assignment

This is the number one document you must go for.

Many people think that the C of O is the most important document, but it is not.

The Deed of Assignment is the only document that shows that the owner of the land you bought willingly transferred their ownership and title to you.

It is not only evidence of payment but also proof of sale.

• Certificate of Occupancy (C of O)

This is the most popular document because the government is usually involved in its issuance.

It is issued by the state government to legally confirm that the state no longer owns the land.

This is because all land in a state is held temporarily by the governor of that state until there is a buyer.

As a result, ownership is transferred to the new buyer by the state governor for a specific period of 99 years.

• Survey Plan

A survey plan outlines the following features of your land:

– Property’s coordinates (locations)

– Size, and 

– Boundaries

This ensures that it aligns with government-approved layouts. 

After measuring your land, you are to submit it to the Surveyor-General in the state where the land or the property is located.

• Governor’s Consent

Most land buyers think that the C of O automatically comes with the Governor’s Consent. No, it doesn’t.

If you want to resell land that has a C of O, you need the Governor’s Consent.
It shows the state’s acknowledgement of the transfer of ownership.

• Land Purchase Receipt

This is proof of payment you get from the seller that shows that they have received your payment for the land.

Note: If you are buying from a family or community, ensure that the transaction is approved by all the decision-makers in the family or community. 

This gives you legal backup in case there is a dispute over the land in future.

4. Be Patient

Just like with every other investment, you also need to be patient if you are buying land in Omu-Ketu.

There is no such thing as make-money-fast with real estate anywhere in the world.

Like I mentioned above, you need to have a plan. 

When you have a plan, it will be easier for you to follow through with the timeline that you have set for it.

I always tell my buyers never to sell their land one year after buying it…

It is only in rare cases that your land will appreciate so much and you will get huge profits after a year.

Instead, I would advise you to wait long enough to observe the market and watch your land price increase before you sell.

 

Now That You Know…

It is up to you to decide whether you want to buy in Omu or you want to buy in Ketu.

You also now need to create a plan that will help you make profits in the long run.

Again, if you are looking for quick money, run away from real estate.

But if you want money that you will always see in the future, invest in Omu-Ketu today.

This is my recommended land in Omu-Ketu currently. And it’s selling at a great price.

For further enquiries, shoot me an email at info@possilaproperties.com