Real estate remains one of Kenya’s most attractive investment ventures. The country’s real estate industry is one of the strongest and stable pillars of the economy and as a result used as a measure of economic growth.
Over the last few years, Kenya has experienced a real estate boom with developers working night and day to meet the housing demand. On the flip side though thanks to shoddy constructors who love taking shortcuts a number of houses have come tumbling down and some completely vacated due to poor structure and usability of the houses.
They are two ways one can own a home in Kenya either by renting a fully developed house or building one from scratch.
Majority of Kenyans living in Urban centers rent their houses where at least 50% of Kenyans own houses through leasing.
It is always advisable before one moves in into a house to first check the quality of the interior, plumbing, electricity and water services among other services offered.
In some cases, the season for house hunting also matters, take your time while doing the search and visit these houses during extreme weather conditions e.g. sunny and rainy seasons.
With this one can be able to identify if the unit has dust, leaking or accessibility issues during these seasons. Never be afraid to ask; Who were the developers, if they have they done previous homes before? If so, how is the feedback from the current tenants?
“Never settle. Many clients make a mistake of settling for a house, my advice is taking your time and only choose a home that meets your needs and fits your specifications. Take at least 3-6 months, best timeline for a home search and even longer when looking for a developer to construct your home to make sure it is in great condition and fits your family,” said Sharon Nelima, Saif Real Estate Corporate Customer Relations Manager.
Considering that, here is a step by step process on building and owning your house.
This requires long term planning and amassing of the funds before commencement. You will have to purchase land which is best done via Real estate agencies.
Once you identify a plot, don’t make a haste of buying it, make sure to involve a lawyer in the process. Tales of many Kenyans who have painfully watched their hard-earned money
A lawyer will come in handy and cater to the small things you might miss e.g. is there a land title? is the person selling the land its right owner? are there any grievances with the land etc.
Once you have bought the land and the title is in your name, you will then contract a developer to oversee the construction process.
“For quality purposes I’d recommend quality property developers who have been in the market and have testimonials that back up their work. Alternatively, you could ask for recommendations from people in your circle who are/have constructed their homes.” said Sharon.
The developers will take care of everything from the house plan to the complete product.
By specialized construction plan
The only way to completely eliminate rent from your expenses is to own your home. This can be done by buying or constructing your home.
For this, you doesn’t need all funds at once, but you disburse as the construction goes on, according with the payment plan set. This one-of-a-kind system involves the developer, the client and a project.
Working hand in hand with the client developers come up with projects that involves the client from the onset of construction of the project.
To avoid any surprises, make sure to also have a lawyer involved for advice and credibility checks on the projects to avoid being conned.
One such company which offers such service is Saif Real Estate, a fast-growing real estate development company, based in Nairobi.
The company works with some of the best architects and building contractors in the market to put up quality living spaces according to client needs to help them realise their dreams.