FACTORS TO CONSIDER WHEN BUYING LAND

In Kenya, land gains value with time unlike any other asses which in most cases depreciates. Look for instance at a car, you buy it for two million and in three months you must sell it at a lower value. Those who have tried it can attest that land is the best treasure regardless of its location. Places that were once deemed home for wild animals are today homes to humans, those that were once small villages today are towns and the least known about shopping centers today are cities. This explains the ever increasing demand for land investments. In order to maximize on returns, it calls for due diligence when buying a land. In my article I have explained factors to consider when buying a piece of land.

Location: Bearing your intention in mind; (investment for future/ to build a home) Consider suitability of the location when buying land. For instance if you want to buy a piece of earth for constructing your home check how close it is to your work place, the climate, type of soils in the area and accessibility using various means of transport.

Availability of infrastructure: Good road, electricity and water supply network greatly contributes to growth and development in an area. When buying land check for this connectivity or even prospective projects by the government contributing to the same in the area. Also be on the checkout for availability of social amenities such as schools, hospitals and the place of worship of your choice. The better the place is endowed with these features the better it is for settlement and even investment as it is likely to give better returns in the future.

Affordability: When buying land, it is important to consider your purchasing power. There are many locations and companies to choose from hence don’t overwhelm yourself especially when it comes to land for investment. Nothing is too little to invest as long as you can afford it. It is also advisable to buy a piece of land when is selling at its minimum especially if it’s for investment instead of when it is about to hit its climax.

Ownership History: To avoid being duped into monkey business, find the rightful owner of the land you intend to buy. This can be achieved by conducting a land search at the ministry of lands of the county where the land is located. Ask for the land map from the said owner and use it to compare against details at the ministry. Ensure that the Registry Index Map number on the map you hold is the same to one on the map the ministry of lands hold.

Seller of the land: Land can be bought from a real estate company or an individual. Be on the check for their reputation and transparency to avoid being duped. It is however advisable to purchase land from a registered real estate company as most provide or ensure availability of roads, electricity and water. The company takes the risks bullet for you and ensure they provide a clean land as they first do all the searches for you unlike when you deal with an individual.

Land business is endless and no matter how much it has been sold, we can’t run short of it as ownership keeps on circulating. Secure your future and that of your generation by investing on land as early as you can. Consider these and other factors in order to make a fulfilling land investment.