Land
ownership is a great form of investment in Kenya today. This is largely because
land is a finite resource.
For you
to legally own land in Kenya, there are various steps that you need to follow –
which culminate in the acquisition of a title deed – issued by the Ministry of
Lands.
The
type of land you buy, and the intended purpose will determine whether you will
get value for money or not.
We take you through 5 main things that, as a land buyer, you need to consider before reaching a final decision to buy land.
1. Investment
goal
From
the word go, you need to have a clear investment goal. Know why you are buying
that piece of land – it will be a guide in decision making.
-
If you want to accumulate assets – look for land in areas that you
will be comfortable to settle in, in future.
-
If growing your savings is your goal – look for land that is not
in a well-planned area.
-
If you want to have passive income – buy land in a populated
place (where you can set up rental and/or commercial buildings).
-
For a long-term investment – buy land that you’re not in a hurry
to use.
2.
Cost
Before beginning
the journey to look for land to buy, make a decision of how much you want to
use on that investment. This will greatly inform you on where you can buy that piece
of land because the cost of land in an urban area is different from the same piece
of land in rural areas.
Always settle
for a piece of land that will not put too much pressure on your finances.
3. Utility
services
The
piece of land you purchase will in one way or another need to have utilities
ready around the area – depending on the end goal for buying that particular
land.
Basic
utilities are usually things like water, sewerage and electricity – these are
things that play a key role in the development and value appreciation of the land.
4. Duration
of ownership
Always
ask yourself, how long do you want to hold that land? If you want to grow your
savings – buy land in an area that will be attractive to buyers in the future
when you plan to exit.
The
point here is that you’re likely to get higher returns and quicker exit if you
buy land near a proposed development project like bypass, or hospital.
5. Physical site visit
Always
insist on seeing the piece of land you want to buy – this enables you to get familiar
with the area.
Visiting
a site also assures you that you’re buying land that exists – protects you from
falling prey to conmen/women who sell ‘air’ – that’s a non-existent land.
Find Property in Uasin Gishu County
Baoriat Agencies
Call: +254 721-554-937
Baoriat Agencies is committed to helping you find the best place for you to settle in Eldoret town. We walk you through the entire process of acquiring your own property in Eldoret until it has been transferred into your hands.
To learn more about buying a property in Eldoret,
Call 0721-554937
WhatsApp https://wa.me/0721-554937
Email evekibet@gmail.com or
Visit us at Juma Hajee Building room number 16, Eldoret town
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