Frequently Asked Questions on land investment in Kenya
We can all agree that there is a lot of misinformation when it comes to land investment in Kenya. This has led to several people loosing their hard earned cash to schemes and deceitful middle men who pose as professional realtors. Knowledge in the Real estate industry and its operations is very important as this will help you protect your Real Estate investment. So, before you make a transaction on that land, here are three questions that will help you understand more about the property and how to get a return on your Real estate investment.
Where is the land?
The location of the land plays a key role in the growth of your investment. For example, Nanyuki is currently a gold rush for real estate investors due to its growth rate and the wide range of tourist attraction sites. Land projects within the area are in demand and this will ideally be the best place to buy land for those looking to invest in Kenya.
Other aspects to consider about the location are the amenities and access to the property. Once you spot a piece of land that is priced within your budget, find out more on its exact location. A professional Real estate company will have a relationship manager explain in detail about the location of the property,amenities on site, and they will even go a step further to take you to the said location for viewing purposes. This service is often free and is the perfect opportunity for you to scout the area and learn more about the surrounding.
Are there extra charges/fees?
Be very careful when making your first payment for land. Some real estate companies advertise for land at a lower rate than its actual market price so as to entice people into investing with them,however what they don’t tell you is once you make the first payment, you are set to incur extra cost for the processing stages for your Title deed. It is therefore important to find out from your realtor if the quoted price on the project is the only required payment. The Wealthsmith limited values its investors and any other additional fees other than the stipulated price for the land is incurred by the company.
Does the land have a Title deed?
A Title Deed is a legal document that shows evidence of ownership of land or property. The Ministry of Lands in Kenya issues land Title Deeds through the Deeds Registry. This is the only document that proves that you own the land and it is at your disposal to further develop or transfer its ownership as you please. Therefore, when making a purchase, ensure that you have comprehensive research on the company you choose as your investing partner and learn more about ownership transfer and Title deed issuance. You can get this information from your realtor or go through websites and social media pages for a review of testimonial videos and photos from their clients. You can learn more about Title deeds here
Remember, land is a lifetime investment and when done right, it will be beneficial for your future generation. Contact us today to learn more about Real Estate investment and begin your real estate investment journey. The best time to invest is always NOW.