How to buy Property as an Individual

 

Property purchase can sometimes be twisted whether you are buying as a group or as an individual. For anyone considering investment in property or real estate, all you need is proper information on the very approach chosen. So, what is the one man approach?

The one man approach is a method of buying property for individuals, either from a real estate firm or Omo-onile (direct indigenes). An individual ventures out on his own in an attempt at acquiring a piece of landed property or even a property that has a building on it.

Whatever piece of real estate he/she goes for, the ultimate is that the individual is solely doing the transaction alone.

This is what makes the one man approach to buying property quite different from other approaches, such as the cooperative approach and group approach.

How to go about it

Once you’ve decided you need to get a piece of landed property, you can seek relevant help or assistance from credible sources all by yourself. It may sound like a lot of work, albeit, buying land or investing in real estate is no small venture.

As an individual, there are some basic important steps to be taken and also some processes to be considered. There are actually three things to be considered in this approach to buying property;

  • The person must make up his/her mind about the choice area he/she hopes to purchase the property; where is his/her area of preference or where is the area located? This is quite important to the investment.
  • What size of land or property is he/she in need of? If he/she is investing in land, then what is the size of the land he/she is in search of? Is it a plot or less than a plot? Is it an acre or is it more than that? If it is a built property; then is it a flat, a duplex or a bungalow? What size of property would he/she prefer?
  • Lastly, what does he/she have as capital outlay for the project? This is the most important part because budget is key to every real estate investment no matter how small.

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