If you’ve ever found yourself wondering, “Should I buy a house or start with land in Lagos?” you’re not alone.
It’s a question that crosses the minds of many people, especially:
- Young professionals saving up their first million
- Newly married couples looking to settle
- First-time investors trying to make the safest financial decision
On the surface, buying a house might seem like the obvious choice; it’s move-in ready, requires no construction stress, and could even bring rental income immediately. And yes, for some, that level of convenience is worth the premium.
But here’s the truth most people don’t talk about: buying land often gives you more power, more value, and more long-term security, especially in Lagos.
Houses are expensive, often overpriced, and come with limitations. You don’t get to choose the design. You inherit someone else’s choices and sometimes, their mistakes.
Land, however, gives you control.
- You enter the market at a lower cost.
- You build at your own pace.
- You watch your investment grow often faster than the value of a house.
In a dynamic city like Lagos, where development spreads fast and property prices rise quickly, owning land puts you in the driver’s seat of your future wealth. Let’s break down 5 smart reasons why buying land might be your best move right now, even if you’re still years away from building your dream home.
1. Land Is More Affordable Than Buying a House
Let’s talk numbers. In today’s Lagos real estate market, ₦10 million might barely afford you a tiny one-bedroom flat in a densely populated area, often without parking, privacy, or the quality you truly want. You might end up settling for an older building, poor infrastructure, or even questionable documentation just to stay within your budget.
Now flip that around. That same ₦10 million can buy you a full plot of land in Epe or Ikorodu of Lagos State where you can build your house later. These are fast-developing locations with good road networks, verified title documents, and long-term growth potential. In some areas, you could even buy multiple plots and still have funds left over for fencing or documentation.
Why does this matter? Owning land gives you a financial head start without the pressure of a heavy mortgage or overpaying for someone else’s design.
You own an appreciating asset. You build when you’re ready. And you’re not stuck with poor design, bad plumbing, or surprise renovation costs.
2. Land Appreciates Faster and Doesn’t Depreciate
One major difference between land and buildings is how they age and how they hold value over time.
Buildings depreciate. No matter how beautiful a house is when you buy it, it starts to wear down the moment it’s lived in. Over time, you’ll need to fix:
- Plumbing leaks
- Roof repairs
- Painting and repainting
- Cracks in walls or tiles
- Faulty wiring
- Constant maintenance costs
These things not only cost money they also reduce the resale value of the house if not constantly updated.
But land? Land doesn’t age. It doesn’t rust. It doesn’t crack. It doesn’t need repainting. And it certainly doesn’t get old. In fact, land naturally appreciates, especially in developing areas like Epe, Ibeju-Lekki, and Ikorodu.
Let’s put it in perspective:
In Epe, a plot that sold for ₦1 million in 2021 is now going for ₦3–₦4 million in 2024.
That’s a 200%–300% increase in value and the owner didn’t have to lift a finger.
Your land appreciates while you sleep. It grows in value with every new road, every school built nearby, every new estate that pops up in the area.
Also Read:
- Different Land Use Plans Available in Lagos: A Complete Guide
- How to Identify a Fraudulent Real Estate Company in Lagos
- Where to Buy Land Near Lagos at Affordable Prices
3. You Can Build at Your Own Pace
Let’s face it, building a house in Lagos is expensive. Between the rising cost of cement, labor, and finishing materials, it’s not something everyone can afford to complete in one go. And that’s where land becomes your greatest advantage.
When you already own the land, you’re not under pressure to finish everything immediately. You can approach your building project like a journey, step-by-step, on your own terms, and within your own budget.
Here’s what that could look like:
- Fence it now to secure your property and establish ownership.
- Lay the foundation next year when you have saved more.
- Start with a simple bungalow and expand to a duplex or rental unit later.
- Avoid loans or interest pressure that just build as your income grows.
This level of financial breathing space is something that buying a ready-made house can’t offer. When you buy a house, you’re either:
- Paying all at once,
- Taking a high-interest mortgage, or
- Compromising on location, size, or quality just to “own something.”
But with land, you’re in control of the timeline, the cost, and the vision. Whether it takes 2 years or 10, you build when you’re ready, not when someone else’s payment plan says you must. In most parts of Lagos, you can buy your land today and build your house anytime you want.
4. You Have Full Control Over What You Build
Let’s be honest: buying a house often means settling. You walk into the building and immediately notice all the things you’d change if only it were yours from the ground up:
- The living room is too small.
- The kitchen has no storage space.
- The ceilings feel low and stuffy.
- The bathrooms are cramped.
- And sometimes, you can’t even repaint without the landlord’s permission!
Even newly built homes by developers are one-size-fits-all, designed to cut costs and maximize profit, not to match your lifestyle.
But when you own land, the story changes. You become the architect of your future. You don’t have to inherit someone else’s taste, mistakes, or shortcuts.
Instead, you get to decide:
- How many rooms you want, whether it’s a 2-bedroom for retirement or a 5-bedroom family home.
- What kind of materials you want to use, from quality blocks to tiles, roofing, and wiring.
- The building style: bungalow, duplex, container home, or even a rental block of flats.
- You decide if you want your future home, a short-let apartment, or rental apartments for steady income.
When you own the land, you build your dream, not someone else’s version of it. This kind of freedom is priceless. You don’t just own property, you shape your lifestyle, your investment plan, and your legacy from the ground up.

5. Most Lagos Landlords Started With Land First
Whenever you pass a beautiful duplex in Lekki, a gated estate in Ajah, or a block of short-let apartments in Ibeju-Lekki, it’s easy to think,
“Wow, I wish I could own something like this.”
But what most people don’t realize is this: those properties didn’t start that way.
Behind every “fancy” house you see today, there was once a simple piece of land. No walls. No windows. Just raw soil and someone with a long-term vision. The real journey to real estate wealth in Lagos usually follows this quiet pattern:
Land → Plan → Block by block → House → Rent → Wealth
They didn’t start by buying a completed mansion. They bought land when the area was still quiet. When a plot of land in Lagos was still selling for ₦1M or less, they paid and later built a house on it. Oftentimes, that was before the roads were even paved.
Then they:
- Draw a plan.
- Built in phases, maybe one room at a time.
- Eventually finished the house.
- Started renting it out.
- Used that income to reinvest in more land or more buildings.
That’s how most Lagos real estate millionaires did it. Not overnight. Not through shortcuts. But through strategic land acquisition and gradual development.
And here’s the best part: You can start that same journey today. You don’t need to build immediately. Just own the land and let time, development, and your income guide the next steps.
Also Read:
- Different Land Sizes Available in Most Estate Properties in Lagos
- How Much Does It Cost to Buy a House in Lagos?
- What is the Difference Between Excision and Governor’s Consent in Lagos?
Buy the Land in Lagos First Before You Build a House on It
Buying a house feels like success. There’s something satisfying about walking into a completed building and calling it your own. But here’s the truth most people overlook:
Buying a house is visible progress. Buying land is strategic progress.
Land is the foundation. It’s the seed you plant today that grows into wealth tomorrow. It gives you the freedom to decide what to build, when to build, how to build, or whether to build at all.
If you’re still saving for your dream house, don’t let that stop you from owning something now. Start with land and let your money work for you while you plan, grow, or even change your vision.
Don’t wait to buy land. Buy land and wait.
Because time is your ally when you own land. Each month, the price goes up. Each year, the value increases. And when the development around it catches up, your simple land becomes someone else’s dream address.
Ready to take that first step?
To explore any of our real estate investment packages like land banking, retirement plan, kids education investment plan, trade apprenticeship plan or if you want to purchase some plots where you will have residential or commercial buildings, send an email to us at info@affablehomes.com.ng or call +2349134056630.
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