Land is among the valuable assets that do not depreciate. So, owning a piece of land is a good investment for people intending to build, farm, or create businesses. And while buying land in Kenya may seem pretty straightforward, buyers need to consider a few essential factors that will make the purchasing process smoother.
Importance Of Landownership
Owning a piece of land is among the most lucrative investments you can make in Kenya. Depending on your intention and financial muscle, you can use it for commercial or personal uses. A significant chunk of land buyers in Kenya uses it for personal reasons constructing homes. Others prefer using it for farming, commercial building, or leasing the premises. Regardless of your reason for buying land, this move gives you financial security if you choose to use it for commercial purposes or when you opt to sell it.
Important Aspects To Consider When Buying Land
Purchasing land is exciting, especially if it’s your first time. However, you can have headaches if you do not consider some important factors unique to this process. If you’re thinking of investing in land, here are the top things you must watch out for to avoid losses.
A Land Search Is Important
Before you sign any papers and make any deals, you should find out if the land you intend to buy is viable for sale, its location, and if the current owner is in on the deal. A land search lets you know all these and keeps you in the loop of any details you may not know. You get to compare information on the title deed and those on the land registry to ascertain you’re not being duped.
Pick A Reasonable Financier And Land Dealer
Financial options for buying land can prove to be a bit challenging, especially regarding the disbursement of funds. Looking for a financier who can easily lend you money quickly and at reasonable rates would be best. Dealing with a trusted land seller also gives you a headstart.
Thankfully, Karura CommunitySacco and Optiven have formed a partnership that allows you to get money and land in a one-stop shop deal. Optiven finds you a piece of land suitable for your budget, while Karura Community Sacco delivers a lucrative financial deal to help you buy your land stress-free.
Is It On Riparian Zones
You’re signing up for trouble if you buy land in a riparian zone. Conducting a land search will help you determine the property’s location, but you may need to visit the place in-person to confirm its exact location. Doing this keeps you out of the danger of losing investments you make if the land is near a large water body or a seasonal river and swamp.
Aside from ensuring you’ve chosen the perfect land to suit your needs, partnering with trustworthy land dealers and property financiers is critical. And, you should speak to the dealer to see if the property has road access. You don’t want to purchase unreachable land.