INTRODUCTION
Real estate in Lagos isn’t getting cheaper; the prices can feel out of reach, especially if you’re a first-time investor still finding your financial footing. That’s where co-ownership comes in. If the idea of owning property seems out of reach due to high costs, co-ownership offers a smart alternative.
WHAT IS CO-OWNERSHIP
Co-ownership simply means teaming up with one or more people to invest in a property together. Instead of paying the full price on your own, you split the cost and, of course, the returns with others.
It works like this:
- You and a group (friends, family, or vetted strangers) buy into a property
- Each person owns a defined share
- Income (such as rent) and resale profits are divided according to your share.
It’s already happening in other sectors. Think crowdfunding, pool riding, or group travel. Now, it’s being used to unlock access to real estate.
WHY NIGERIANS SHOULD PAY ATTENTION
Many Nigerians are earning better, thinking smarter, and looking for ways to invest early. But saving N55 million for a decent property is no small feat. Co-ownership bridges that gap. You don’t have to wait to make your first move.
Instead of owning 100% of nothing, co-ownership lets you own, say, 20% – 30% of something, and that something can grow in value and give birth to more percentage.
BENEFITS AT A GLANCE
- Lower entry barrier: You can get started with less capital.
- Shared risk: If the property market fluctuates, the risk isn’t on you alone.
- Passive income: You earn rental returns without managing everything yourself.
- Faster investment timeline: You don’t have to wait years to afford a full unit.
And because you’re not doing it alone, the process often comes with support (such as legal structure and property management), making it less overwhelming for first-timers.
WHAT TO WATCH OUT FOR
While co-ownership is smart, it still requires due diligence. Ensure to check this list:
- Clarity on ownership structure: Ensure everything is documented legally.
- Aligned goals: Everyone involved should agree on the investment purpose and timeline.
- Exit plan: What happens if someone wants to sell their share early? It should be clear from day one.
- Choose the right platform or developer: Work with trusted real estate companies that understand the structure.
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TAKEAWAY
If you’ve been waiting for the perfect time to enter the real estate market, this might be it. Co-ownership, because it produces affordability, is a practical solution to a real problem. It gives you access, builds your portfolio, and gets your foot in the door earlier than most.
The earlier you start, the better your position down the line. And with the right people or platform, you can invest wisely… without waiting forever to go it alone.
