Jane, (Not her real name) called me last week and told me that she had been referred to me by her elder brother for advice on real estate.
Jane was very excited about the 3% mortgage and car loans that the Government is giving to public officers. In fact, when she called me, she was at a developers office ready to put down a down payment for an apartment off Mombasa road. After a small chat with her, she walked away from that office to rethink her decision.
Jane is one of the many hundreds of thousands of public officers who might fall prey to the convincing words of property agents keen to make their commission.
You only get one chance in your life to get the mortgage, there are a few things that you should do before making any decision on the mortgage.
- Do your research about what you really want with your life
- Talk to a real estate consultant on the many opportunities available for investment. In fact you can organize a forum and invite him / her to talk to you…. Its more cost effective.
- Read good books and of course start with The ABC of Real Estate Investment in Kenya, Kenya’s ONLY real estate book.