What You Need To Know About Real Estate Investment in Kenya

Real estate Investment in Kenya is seen as one of the most profitable investment Options for many local investors. Despite Real Estate investment in Kenya being the surest investment option for the majority, it has come with its fair share of issues. So what do you need to know about real estate investment in Kenya?

1) Just Buy Real Estate Now Not Tomorrow!!
Do whatever you can to buy real estate now or any Prime property for sale in Kenya. It has been evident that properties appreciate very fast in Kenya, in a way that if you decide to save money and wait for some time, you might not afford it any more.

Look for what you can afford now and don’t let the figures scare you. Securing a loan from a Sacco is a good starting point. Look for properties that are affordable from companies that have such offers. If you get lump sums from per diems, bonuses, overtime – these are all perfect funds that you can use for the deposit and buy that prime plots for sale in Kenya.

2) Do some research on the Real Estate you are buying
If in 2010 three people bought three different pieces of land – one in Rongai, one along Thika Road and another in Mombasa, and were all to dispose of those properties right now, the values definitely would be very different.

Someone who does their research easily gains. You need to evaluate why you need to invest in that location. Check what is coming up in that location and its relative distance from vital urban establishments.

If it is near the Standard Gauge Railway (SGR) for example, it has to be near a station. Before committing any of your lifetime savings, do proper due diligence.

3) Always Be Informed about the Upcoming Developments in the area
Normally there is a map that can be obtained from our offices or online, which shows you all the roads in Nairobi and upcoming bypasses. Get access to government plans and those of other agencies that are involved in the Vision 2030 implementation for a better understanding of the value of the property you intend to buy.

Those plans will tell you exactly where the railways will be built, where the highways will be constructed, where roads will be expanded, where bypasses will be built and where universities will come up. So you can always tell what the government is planning regarding road development.

Most legit Real estate investment companies in Kenya do all the research for their properties in addition to finding an infrastructure for the property.

4) Let the terrain of the area you are buying Be Well Studied & Understood
I have seen people buying rocks in hills and sand. In Real estate investment in Kenya, there are people who sell bushes as we as land in the middle of nowhere. Always ensure that you view the property first to avoid such issues.

That way, you can see the terrain, the type of soil and also check whether the land is accessible. You will also tell whether there is access to water and electricity and the overall value of the piece of land.

5) Consider the pricing of the real estate investment
Most players in the real estate investment sector, normally overprice their property for no good reason or misquote land prices. However, as a real estate investor in Kenya, the best way to avoid being conned is to use the services of a valuer. Nevertheless, you do not have to do this because you can easily get the information with basic research.

If you specifically want to know the value of property in a certain area, use the internet for more information about the prime property for sale in Kenya.

Do basic research so that you do not buy an overpriced property. It can easily save you Sh100, 000. Conversely, be wary of someone offering you a property that is seriously cheap compared to the properties in that area.

6) Always Engage with Legit & Certified Real Estate Company
In 2016 there were over 6,000 cases of fraud, according to the Kenya National Bureau of Statistics, so it is very easy to fall prey to con men.

Please do a lot of due diligence to prevent this before buying real estate in Kenya.

The other trustworthy option, which is easier, is to just deal with an established and registered real estate company in Kenya, which are known to conduct a thorough research by default. In addition, if there are any risks involved, they will automatically fall on them, not on you.

Always try to avoid agents and brokers. Actually, most of the real estate investors in Kenya say that Agents and Brokers cannot be trusted, because they either have not done their own research or aren’t honest with their clients as they have to make profits.

A Legit Real Estate Investment company in Kenya calls for a basic search on the property and the seller and always has a credible lawyer who will ensure that you are safe against any legal claims.

7) Always View the Property before Buying
Before you make a real estate investment in Kenya, It is very important to go and see the land you are buying. It doesn’t matter whether it is a company doing the buying for you, make sure just before appending your signature to any agreements you already have an idea what it is that you are looking into acquiring in the long run.

Originally published by and Copyrighted to https://denkoproperties.com

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