Why Waiting to Buy Property Might Be Costing You More Than You Think
For many Nigerians, buying property is a long-term goal.
“I’m still saving.”
“I’ll wait until prices come down.”
“Let me be more financially stable first.”
These thoughts are common — and understandable. But what many people don’t realize is that waiting can quietly become more expensive than starting.
If you’ve been postponing your property decision, here’s what you should consider.
1. Property Prices Rarely Stay the Same
In growing cities across Nigeria, land and housing prices generally trend upward — especially in developing areas with expanding infrastructure.
As roads improve, commercial activity increases, and more people move into a location, demand rises. And when demand rises, prices follow.
That property you are considering today may cost significantly more in one or two years. Waiting doesn’t freeze the market. It moves — with or without you.
2. Inflation Reduces the Power of Your Savings
When you delay buying while keeping your money idle, inflation gradually reduces its purchasing power.
In simple terms:
The amount you are saving today may buy less property tomorrow.
Real estate, on the other hand, often acts as a hedge against inflation. While cash loses value over time, well-positioned property typically appreciates.
Waiting might feel safe — but it may quietly be shrinking your options.
3. Rent Is a Recurring Expense
If you’re currently renting, consider this:
Every year you renew your rent, you are paying for accommodation without building ownership.
Over five to ten years, that amount can add up significantly — funds that could have gone toward equity in your own property.
This doesn’t mean renting is wrong. It simply means long-term renting without a plan can delay wealth-building.
4. Payment Plans Make Early Entry Possible
One common misconception is that you must have the full property value before starting.
In reality, structured payment options often allow buyers to spread payments over time.
Starting earlier — even with phased payments — can lock in today’s price before appreciation occurs.
The question becomes:
Is it better to wait for the “perfect moment,” or to secure the opportunity while it’s accessible?
5. Growth Happens in Phases
Many investors who benefit most from property appreciation buy during the development phase — before full infrastructure and demand peak.
They don’t wait until an area is fully built and prices have doubled.
They position themselves early.
Strategic timing is less about guessing the market and more about recognizing growth patterns.
6. Fear of Making the Wrong Decision
Sometimes, waiting isn’t about money — it’s about uncertainty.
Concerns about documentation, location, or developer credibility can cause hesitation.
And that caution is valid.
But instead of postponing indefinitely, a better approach is to:
- Conduct proper due diligence
- Ask detailed questions
- Verify documentation
- Work with credible developers
Delay caused by lack of information can be resolved with clarity.
7. The Cost of Inaction
When you combine:
- Rising property prices
- Inflation
- Years of rent payments
- Missed appreciation opportunities
The hidden cost of waiting becomes clearer.
Not every delay is harmful. But indefinite postponement often is.
