Buying an apartment is one of those life decisions that quietly shapes your future in ways you might not fully realize at first.
Think about the life you’re trying to build.
Whether you’re a young professional, newly married, or even planning for retirement, owning an apartment gives you a structure that renting never will.
First, you stop worrying about landlords increasing rent, cutting your lease short, or imposing rules that make you feel like a guest in your own home.
With an apartment of your own, you make the rules.
When buying an apartment on sale, especially in today’s unpredictable market, one thing is certain: You need more than just excitement and a budget.
The real estate space is filled with listings, promising photos, and persuasive agents.
But underneath all the polish, not every apartment on sale is a good buy.
And if you don’t know what to look for, it’s easy to fall into traps that cost you years of regret, and money
How do I know a good apartment for sale
A good apartment always speaks for itself, even when no one is selling it.
From the structure to the documents, from the location to the legal status, every little detail matters. And the truth? Most people often overlook these things.
They get swayed by painted walls and fancy kitchens, forgetting that the real value of a home goes far beyond aesthetics.
The first thing to understand is that a good apartment starts with…
Location
Not just in terms of popularity, but in how livable it is.
An apartment tucked away in an overcrowded part of town with terrible access roads, water issues, and noisy surroundings might seem affordable, but you’ll pay for it in other ways.
You want to ask yourself hard questions:
- Is the neighborhood growing or declining?
- Are there signs of development or neglect?
- Are schools, hospitals, and public transport within reasonable reach?
Because once you’re in, you’re in. And even if you decide to sell, the location will determine how fast and for how much.
Next,
The building quality
It’s easy to fall in love with how an apartment looks, but what’s under the surface is what matters.
Cracks on the wall, uneven floors, doors that don’t align, or poor drainage systems are red flags you shouldn’t ignore.
To get the best result? Visit during the rainy season if you can, because that’s when hidden flaws come out.
Plus, don’t be afraid to knock on walls, run taps, and check ceilings. If something feels off, it usually is.
Layout
How the rooms are arranged determines not just how you live, but how you feel in the space.
An apartment can be beautiful but poorly planned, leaving you with small rooms, awkward corners, and poor airflow.
You want a layout that allows natural light in, ensures privacy, and makes movement easy.
If you can’t picture your daily routine flowing smoothly in the space, it’s probably not a good fit.
You should be able to imagine where your furniture will go, where your kids will play, and where you’ll unwind after a long day.
Developer’s reputation
- Who built the place?
- What other projects have they completed?
- Were those buyers satisfied?
Developers with a track record of cutting corners tend to leave a trail. You can talk to residents in their previous buildings if you can
If a name keeps coming up in lawsuits or complaints, stay away, no matter how nice the apartment looks. Good developers build not just homes, but trust.
Document is everything
Never assume an apartment is clean just because it’s nicely advertised.
Don’t just stop there, but go ahead to see the title documents, approvals, building permits, and any other legal documents tied to that property.
In this case, get a lawyer involved, even if it feels like an extra expense, because it’s better to spend a little on legal verification now than to spend years in court later.
Ensure there are no outstanding loans or disputes attached to the building. Make sure it’s not sitting on government land or under any acquisition zone.
The apartment’s age also matters
There’s a huge difference between a new building and a ten-year-old one, especially if maintenance has been poor.
Older buildings may come with hidden costs, leaking pipes, worn-out electrical systems, and faulty roofing that only become apparent months after you move in.
Ask how long the building has been standing.
If it’s newly built, ensure it’s been properly tested and completed with all finishing work done.
If it’s older, factor in the cost of repairs and renovations into your buying decision.
Parking
Most buyers ignore it until it becomes a daily headache.
- Does the apartment come with a dedicated parking space?
- Is there enough for guests?
- What’s the plan during holidays or when everyone’s home?
In overcrowded buildings, parking can become chaotic.
And if the design didn’t make space for it, you’ll be forced to park outside or fight for space every evening.
That’s not something you want to deal with long-term, right?
Amenities
Swimming pools, gyms, and lounges are great, but only if they’re properly maintained.
An apartment with a gym full of broken equipment or a pool that hasn’t been cleaned in weeks isn’t adding value.
Ask how often amenities are serviced, ask who manages them, and how that management is funded.
You don’t want to pay service charges for things that don’t work.
Service charges
Most buyers get lured into great deals only to discover later that monthly maintenance fees are outrageously high.
Ask for a breakdown of all recurring costs.
A good apartment should come with clear, transparent information about these expenses. If the numbers don’t make sense or seem too vague, think twice.
Security
A good apartment should offer a basic level of protection, gates, CCTV, secure doors, and well-lit pathways.
If there’s no security plan, or if it looks like anyone can just walk in, that’s a problem. Good lighting, trained guards, and controlled access are signs that the developers or estate managers care about safety.
Ventilation
You might not notice poor airflow during a quick visit, but once you live there, it becomes a health and comfort issue.
Kindly pay attention to the windows, the cross-ventilation, and how air flows from room to room.
If it feels stuffy or hot despite the fans or AC, that’s a sign the design is flawed.
You want fresh air circulating naturally, not a reliance on constant artificial cooling.
The apartment’s resale potential
Ask yourself…
- If you needed to sell this property in five years, how easy would it be?
- Is it in a location that buyers want?
- Does it meet the needs of young families, professionals, or retirees?
A good apartment isn’t just to buy today, it should hold or grow in value.
Noise levels matter
During your inspection, don’t just walk through with the agent and leave; spend time in the apartment.
- Is there a church or mosque nearby with loudspeakers?
- Are there bars or nightclubs that stay open till 3 a.m.?
- Is it close to a busy road where trucks blare horns all night?
You might think you can tolerate it, but noise becomes a major source of stress when it’s a daily routine.
A quiet environment is part of what makes a great home.
Trust your instincts
After doing all your checks, documents, and inspections, sit with the feeling the apartment gives you.
- Does it feel right?
- Can you picture yourself waking up there every day?
- Can you imagine your loved ones enjoying the space?
- Does it bring a sense of calm or doubt?
Sometimes, all the boxes can be ticked, but something still feels off.
And other times, a place just feels like home from the first visit.
What are the safety concerns in building construction?
One of the first signs of a safe apartment building is whether a proper soil test was carried out before construction.
The ground beneath the building plays a huge role in determining how much weight it can support.
Some soils can’t carry heavy loads and require special foundations.
But if a developer skips this step to save cost or rush the process, the risk is on you, the future buyer.
If the soil wasn’t tested or if the foundation doesn’t match the soil type, the building is sitting on a ticking time bomb.
Next comes,
Foundation itself
A good apartment building sits on a foundation designed specifically for its size and soil type.
Shallow foundations may work for bungalows, but high-rise apartments need deeper, reinforced foundations to bear the weight.
If you’re viewing a building, ask how deep the foundation goes and what kind of reinforcements were used.
Look for signs of cracks in the walls or tiles that have shifted, these are sometimes early indicators of foundational problems.
If there are visible cracks in multiple units or common areas, that’s a red flag.
Concrete quality
The strength of the concrete used in columns, beams, and slabs determines whether the building can withstand both its weight and the pressure of external forces like wind or minor earthquakes.
Unfortunately, many developers in cost-cutting mode dilute concrete mixtures or use substandard materials.
This weakens the structure and compromises its integrity.
You want to know what grade of concrete was used and whether it was mixed on-site or delivered ready-made from certified suppliers.
Mind you, weak concrete doesn’t show on day one, but it always tells the truth over time.
The reinforcement bars, or rebars, inside the concrete are like the skeleton of the building.
They give the structure its internal strength. But just like bones, if the rebars are poorly arranged, rusted before being cast, or not placed in the correct positions, the building is vulnerable.
One way to check this is by visiting the building during construction or asking for photos and documentation from that phase.
Well-built projects often keep records of every stage. And if the developer refuses to show these, it’s usually because there’s something they’re hiding.
Column placement
Every apartment building stands on a load-bearing structure made up of columns and beams.
These must be placed strategically to evenly distribute the building’s weight.
When columns are missing in key areas or too few to support upper floors, the entire building becomes prone to failure.
It’s not enough for a building to look balanced, it must be structurally balanced. One bad design choice in column layout can lead to a partial or total collapse.
The quality of the blocks
Some developers use hollow blocks made with poor sand-cement ratios just to cut costs.
These blocks crumble under pressure and can’t withstand long-term use.
You don’t need to be an engineer to spot bad blocks, just tap them.
If they sound too hollow or chip easily, that’s a bad sign.
Walls built with weak blocks eventually crack, leak, or cave in, especially when combined with substandard concrete.
Load distribution
A well-constructed apartment doesn’t just carry weight, it distributes it.
The building’s design must ensure that heavier sections, like water tanks, elevators, or rooftop terraces, are supported by appropriately reinforced columns and beams.
If these are poorly positioned, they create pressure points that can strain the structure and cause gradual weakening.
Ask where load-intensive features are placed.
For example, if there’s a water tank on the roof, make sure it rests on strong supports. These technicalities may seem small, but they determine how long the building stays upright.
Waterproofing
Water may be life, but it’s also the biggest enemy of buildings.
A good apartment structure must be protected against moisture seepage, especially in basements, roofs, and exterior walls.
Poor waterproofing leads to corrosion of steel reinforcements, cracks in walls, and mold growth, which eventually weaken the structure.
Take a walk through the basement and upper levels during or after rainfall. Water stains, musty smells, or visible leaks tell you all you need to know.
Electrical and plumbing integration
In many poorly constructed buildings, wires and pipes are forced into walls without planning, leading to weakened blocks and even fire risks.
Proper construction ensures that all mechanical, electrical, and plumbing elements are integrated with structural plans from day one.
You want to see if cables are properly insulated, circuit breakers are correctly placed, and water pipes are not intersecting with electrical paths.
Any shortcut here is a threat to both the building and its occupants.
Seismic resistance
Safe apartment buildings are designed with lateral stability in mind.
This means that they can withstand not just vertical pressure, but horizontal forces too.
If a building sways too much in the wind or develops cracks during storms, it means the lateral supports are weak.
Cross-bracing, shear walls, and reinforcement techniques are used to create this resistance.
Even if your city doesn’t have regular earthquakes, a building that ignores lateral loads is still not safe in extreme weather.
Fire safety
A safe apartment building must have a fire escape strategy baked into its design.
This includes fire-resistant materials, emergency staircases, clear exit routes, extinguishers on every floor, and ideally, a sprinkler system.
But many buildings ignore this completely, creating only one access route or hiding fire exits behind locked gates.
In an emergency, a poorly constructed building becomes a trap.
Soil drainage
A building that sits in an area with poor drainage faces constant pressure from groundwater.
This can weaken the foundation and cause eventual settlement or heaving.
Walk around the building after it rains.
- Does the water collect near the base of the building?
- Are the gutters functional?
- Are the surroundings soggy?
If the site floods easily, it’s only a matter of time before the building starts to feel it.
Is buying an apartment a good investment?
Let’s be real for a second. Investment is about making money work for you.
To truly answer this, we need to break it down into parts.
First, think about appreciation.
Everyone wants to buy low and sell high. But does that happen with apartments?
The truth is, it depends on where you buy, when you buy, and what kind of apartment you’re buying.
A centrally located apartment in a growing city, close to transport, schools, and commercial hubs? That’s likely to see consistent growth.
But a fancy unit in a saturated area with too many similar listings? That might take years before it sees meaningful appreciation, and even then, the profit might not outpace inflation.
Then comes rental income.
A well-located apartment can become a passive income machine.
Imagine earning steady monthly returns while the property gains value over time.
That’s double ROI right there: Appreciation and income.
But again, there’s nuance. If the rent barely covers your mortgage, maintenance, and taxes, your so-called investment is more of a cash-eating liability.
You need to analyze the rental yield.
What percentage of the property’s cost can you earn yearly from rent?
If it’s below 4%, you might want to rethink the investment label.
Also, liquidity
Selling an apartment isn’t like selling shares; it takes time, sometimes months.
And if the market is cold, you may have to sell below your ideal price just to offload it.
So if you ever need quick cash, your apartment might not help unless you’re willing to take a loss.
And while apartments do appreciate, they aren’t liquid assets, so you have to play the long game.
But what about leverage?
Real estate is one of the few assets where banks will happily loan you money to buy it.
That means you can control a large asset with a fraction of the money upfront.
For example, with a 20% down payment, you could own a 120 million Naira apartment and benefit from appreciation on the full amount.
That’s financial leverage, and when used wisely, it can supercharge your returns.
How about maintenance and hidden costs?
Most people think buying is a one-time affair.
But the real expense comes in keeping the apartment in good shape. From repainting walls to fixing burst pipes, costs add up.
And if you’re part of a shared building, you’ll probably be paying service charges and building levies.
These recurring costs can eat into your returns and turn an otherwise solid investment into a burden.
A great way to gauge whether you’re making a good investment is to calculate net yield after all expenses, not just gross rental income.
Market cycles are another reality you can’t ignore.
Property values rise and fall. We’ve seen booms where apartment prices soared 30% in a year.
But we’ve also seen downturns where properties stayed unsold for years.
Buying during a dip and selling during a peak can yield great profits.
But getting the timing wrong can trap your capital.
But let’s flip it.
- What if you don’t want to live in the apartment?
- What if you’re buying purely for investment?
Then you need to think like a landlord.
- Will it be easy to find tenants? Are rents in the area stable or declining?
- Will the apartment age well, or will it become outdated in five years?
And more importantly, can you manage tenants or afford to hire a property manager? Passive income only stays passive when you put active systems in place.
Let’s not forget currency risk. If you’re buying in a country with an unstable currency or fluctuating inflation, your property’s real value could erode even as prices rise.
In such markets, your investment needs to beat inflation just to break even.
Sometimes, it’s smarter to buy in a more stable economy, even if prices are higher. This is especially true for diaspora investors or those looking to protect wealth rather than generate it.
How much is the cost of an apartment in Nigeria?
If you’re renting, you’ve probably noticed how much the market has shifted in the past few years. A one-bedroom flat that used to go for N300,000 annually in a city like Ibadan now pushes N500,000 or more.
In Lagos, that same apartment might cost you between N800,000 to N1.2 million, depending on the area, the structure, and sometimes even who you know.
And if you want to live in more upmarket zones like Lekki, Ikoyi, or Victoria Island, and Abuja, get ready to pay from N2 million and above yearly for just a modest one-bedroom space.
Remember, it’s not even luxury living. It’s just a clean apartment with decent furnishings. But that’s what the demand and location pressure have done to the market.
For those who don’t want to rent forever, buying seems like the logical next step.
You think, Why keep paying rent when I can use that money to start owning something? Right?
But when you dig deeper, buying an apartment is a different beast altogether.
In places like Lagos, owning a small one-bedroom flat in a semi-developed location can start from N10 million to N15 million.
If you’re looking at somewhere more established like Yaba, Ogudu, or Surulere, the price moves up fast, often between N20 million to N35 million.
Now, cross into the luxury territory of Lekki Phase 1 or Chevron, and you’re looking at N45 million to N90 million just for a standard two-bedroom apartment.
And let’s not even start with Ikoyi or Banana Island, where you might need over N150 million for a decent three-bedroom flat.
But cost goes beyond just what’s advertised. If you’re renting, you’re likely paying two years upfront, sometimes three, especially in hot locations where demand is higher than supply.
You’ll also have to cover agency and legal fees, typically 10 percent each of the rent, on top of service charges in gated estates or serviced apartments, which adds up quickly.
That N1.2 million rent could easily climb to N1.5 million after all extras are factored in.
And most landlords won’t give you flexible payment terms, especially if they know other people are lining up to take the place.
On the buying side, the expenses don’t stop at the sale price.
There’s the title documentation, legal verification, survey plans, perfection of title, and possibly development levies if it’s an off-plan purchase.
Combine all these, and you’re easily spending an extra 10 to 20 percent of the property value.
That N30 million flat might cost you N35 million or more when everything is said and done.
And if you’re buying with a mortgage, be ready for interest rates that range between 18 and 25 percent annually from commercial banks, depending on your creditworthiness and the bank’s policy.
Even federal mortgage programs, while helpful, have long waiting times and strict eligibility requirements.
Let’s not forget maintenance costs.
Whether you’re renting or buying, you’ll be responsible for repairs, power issues, and in most estates, security and waste disposal charges.
In high-end developments, service charges alone can run into hundreds of thousands annually.
You might own the apartment, but the costs keep recurring.