Protect Your Money
If you think you are above making real estate mistakes, think again.
The rebirth of property development in Nairobi and Kenya at large has attracted the good, bad and ugly in equal measure. on the upside, real estate has attracted enough attention to receive massive investments but on the flipside, you cannot ignore the place of conmen and get-rich-quick-schemes in this industry.
If you are thinking of buying a home, you are probably deliberating on measures to protect your hard earned money.
You will need to have top notch guidance to be able to differentiate genuine real estate investments from get-rich-quick-schemes. The easiest way to guard your investments is by hiring a realtor.
Gone are the days when people used to do their own ground work, today, Nairobi is flooded with expertise in the real estate field and Kenya Homes comes at the top of the list when it comes down to helping you make informed choices.
Are You Objective?
There are very many investments which appear lucrative and viable, but will turn out to be mistakes.
Staying imperative when faced with so many tempting offers is not only necessary, but vital. As a potential home owner, it is important not to get emotionally attached to any real estate property as this will deter your ability to think logically.
Staying objective will enable you dodge mistakes of overpaying for a property whose hype does not match its actual value.
Objectivity will also enable you assess the return on investment the property will give you once it’s in your ownership, one of the mistakes many buyers make.
Budget Your Money.
As you may have already figured out, investing in real estate is not child’s play.
Every successful real estate investor is a frugal spender who understands that money management is an aspect of wealth that cannot be downplayed. One of the first things to consider to avoid making mistakes when investing in real estate is thoughtful planning.
Thoughtful planning translates to having a budget, and sticking to it.
In real estate investments, 95% of mistakes are avoided by having a logical and consistent budget that your wallet can sustain.
Research Widely.
Becoming a real estate mogul does not happen overnight.
Real estate success demands making a wide range of consultations and informed choices. As an investor, learning about your property is almost as important as the investment itself. You need to make a good research in the property you intend to invest in.
Acting on impulse is one of the biggest mistakes that ultimately costs investors their money.
You need to compare the property you want with other properties on sale. You need to know which property is a perfect fit for your family, or for your business.
For a home owner looking for an abode that makes an affluent statement, it is quite in order to look for a home that is comfortable, luxurious and elegant. In Kenya today, there is quite a lot on that plate but the magnificent, posh and classic penthouses at Bric Apartments is a good place to start.
To ensure you do not make any mistakes, ask yourself the following questions;
- How safe is this neighbourhood?
- Are hospitals and schools available?
- Is the property a good fit for a good investment? Can it appreciate in terms of value?
Know The Laws and Regulations.
To avoid making mistakes when investing in real estate, it is advisable to stay on the safe side of Kenyan Laws. Take into consideration the tax regulations, housing laws, and discrimination associated with investing in a home or property.
For example, before acquiring land or property, Kenyan Law stipulates that an investor should strive to visit the property’s site to establish whether ;
- It actually exists
- It meets your needs and expectations such as physical location and access to infrastructure
- Its conditions are favorable and worth in investment
Note: there is a viewing fee applied when visiting properties for sale. Fees vary by type and size.
If you didn’t know, now you do. Those are necessary measures to take in order to avoid making any mistakes when investing in real estate.
If you want to take the first step to becoming a real estate mogul, what are you waiting for? Contact us and let us lead you home.
At Kenya Homes, we make no mistakes.
