For many Lagos residents, renting has long been seen as the easier path. It offers flexibility, less upfront cost, and the ability to move when circumstances change. But as housing costs continue to rise, the cracks in this approach are beginning to show. More and more people are realizing that renting may no longer be the financially smart choice.
In fact, if you’re currently renting in Lagos, you may already be paying enough to own a home without reaping the long-term benefits of ownership.
One of the biggest burdens renters face is the advance rent system. In many parts of Lagos, tenants are asked to pay one or even two years’ rent upfront. For mid-range apartments, this could mean ₦10 million to ₦15 million gone in a single transaction for a three or four bedroom. This money doesn’t build equity, doesn’t grow in value, and doesn’t give you ownership, it’s just… Gone.
Add to that annual rent increases, service charges, and the stress of renegotiation, and you’ll see why renting can become a financial treadmill: you keep paying but never actually arrive.
By contrast, buying a home in Lagos is both a lifestyle and an investment decision. And now more than ever, owning a home in Lagos is easier that it used to be. When you buy, your money works for you. Every payment goes toward securing an asset that appreciates over time. Instead of paying a landlord, you’re building equity for yourself and your family.
In locations like Lekki, Ajah, Ikate, Chevron, and even mainland gems like Magodo and Ikeja GRA, property values have shown consistent growth over the past decade. A house purchased today is almost guaranteed to appreciate in value in the years ahead, giving you both shelter and wealth creation.
There’s also the emotional and practical peace that comes with ownership. No unexpected hikes in rent. No constant worry about whether your landlord intends to sell the property. Your home becomes your space, your security, and your legacy. For many Nigerians, especially those in the diaspora, buying a home in Lagos helps in building roots and leaving something for the next generation.
Many renters hesitate to buy because they assume property is beyond their reach. But these days with flexible payment plans, mortgage options, and estates offering phased payments, owning a home is more accessible than ever. Consider this: the same ₦15 million you’re about to hand over for rent could be your initial deposit toward a property you’ll actually own. Lagos real estate continues to heat up. With infrastructure projects, demand is surging and prices are climbing. The longer you wait, the more expensive ownership will become. Renting may feel easier today, but buying secures your tomorrow.
At Geoponts Properties Ltd, we believe that everyone deserves to enjoy the security and benefits of property ownership. That’s why we specialize in connecting clients with affordable yet high-quality housing options across Lagos. Whether you’re a first-time buyer, a diaspora investor, or looking to upgrade from renting, our team provides the guidance, transparency, and trusted listings you need to make the leap from tenant to homeowner.
📍 Visit Us: 781 Somide Odunjinrin Avenue, Omole Phase 2, Ikeja.
📞 Call/WhatsApp: 08084410146 || 07063557501
📩 Email: geopontsproperties@gmail.com
🌐 Website: www.geopontsproperties.com
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