The Price of a Home Is Only Part of the Purchase Decision

The headline price of a home matters. But when you buy off-plan, how you pay can matter just as much — how much is due now, what triggers each later payment, and whether financing is involved.

Understand the structure

Here is how the same EICL Crescent one-bedroom residence looks under its two purchase routes (prices approved September 2026):

• Standard off-plan — ₦65,000,000. ₦26,000,000 initial deposit (40%), ₦19,500,000 at roofing and carcass (30%) and ₦19,500,000 at finishing and handover (30%).
• Finance at completion — ₦74,750,000. The price includes a 15% premium. ₦37,375,000 is paid during construction (50%), and the ₦37,375,000 balance at completion (50%) is financed through an MREIF mortgage, subject to eligibility, credit assessment, valuation and the lender’s terms.

The first route has the lower total. The second spreads more of the cost to completion, at a higher total. Neither is automatically better — it depends on your cash flow, your plans and your eligibility for mortgage finance.

An earlier entry point

At EICL Close, which is at its investor-funding stage, a one-bedroom residence is ₦55,000,000, paid 20% at initial commitment (₦11,000,000), 50% at the foundation phase (₦27,500,000) and 30% at superstructure (₦16,500,000), as set out in the signed agreement.

Questions worth asking

• What is the total I will pay, not just the first payment?
• What triggers each payment, and how will I know it has been reached?
• If financing is involved, what happens if it is not approved?
• Which costs are not included — legal fees, taxes, service charges?

Our Purchase Planner shows every payment for each residence and route side by side, so you can compare before you speak to us.

Figures are the prices approved for publication in September 2026 and may change. This article is general information, not financial advice; payment triggers and obligations are governed by the purchase agreement.