Should you buy or lease land in Kenya?
The process of acquiring property in Kenya can be strenuous and confusing especially for first-time buyers. This is why it is important to do your research before transacting on any investment.
To buy or to lease is a common debate among investors. Most people go back and forth on whether to buy or lease land. There are several factors to consider before making this decision and in an effort to help you make a more informative one, we have outlined reasons to why you should lean more towards buying land in Kenya.
Why you should buy land
1. The pride in land ownership.
When you buy land from a reliable real estate company like The Wealthsmith, you will receive a Title deed with your name and you officially become a landowner. There is a sense of pride and achievement when you see your name on that Title deed and knowing that a piece of Kenya belongs to you.
2. Buying the land gives you more control
As the landowner you can choose what activities take place on your land as opposed to being a lessee. When you have invested in leased land, activities and the use of land are subject to the lessor preferences. You have little to no control as the lessor decides on the terms of the lease.
3. Land is an appreciating asset
Land ownership gives you the opportunity to benefit from capital growth—the increase of your land’s value over time. The rate of appreciation varies with the inflation rate, development on the land, growth of the area, and other factors. Consult with your realtor to find out the best options for your land investment.
4. Loan security
Regardless of the size, land is an acceptable form of security for financial loans. You can receive a loan from your bank or any other financial institution by presenting your Title deed to them for evaluation.
5. It can be inherited
Purchasing land is not only an accomplishment and security for you but also for generations within your family. You can pass down the prestige and benefits of being a landowner to your children, grandchildren, and even more generations to follow.
“Landowners grow rich in their sleep without working, risking or economizing.”
Buying land can in the long run become one of your best investment choices once you understand how the real estate market works. It can produce high returns, passive income, and large profit margins. Contact us today and we will walk with you on your real estate investment journey.