I have been working as a valuer and estate agent in Kenya for more than 13 years and I have observed that people are afraid of making a wrong decision when it comes to real estate investments. These people shy away and end up losing big opportunities in the long run.
We all want to own real estate either as a passive form of income, as an investment, or for self-actualization. Real estate investments are generally capital intensive and might require that you take a mortgage or loan or sell other assets e.g. shares or bonds to afford a property. Because of this, the decision-making process can be overwhelming as you might feel inadequate or ill-prepared to make such a decision.
The decision-making process can be harder if you are a new husband and you are expected to *provide leadership* in the area of real estate investments while you have no idea where to start. Other similar scenarios are for a single lady who is adulting alone or Kenyans abroad who have heard all manner of scary stories about people buying air in the name of land.
This series of articles will seek to help you make better decisions in real estate investment and in life. As part of the introduction, let us look at signs that you don’t trust yourself.
Signs that you don’t trust yourself
These are some signs that you don’t trust yourself, according to Sabrina Romanoff, PsyD, a clinical psychologist and professor at Yeshiva University:
- You seek reassurance and advice from others instead of tuning in to how you feel about a situation.
- You solicit opinions from others around you when an important decision must be made.
- You postpone making decisions and procrastinate as you find it easier to sit with uncertainty, compared to the fear that you made the wrong decision.
- You avoid tuning in to your needs and desires and disconnect instead.
- You overestimate the perspective of others and undervalue your own thoughts and instincts.
- You experience excessive guilt after making a decision and always fear that you’ve made the wrong choice.
- You ruminate on what could have been if you had taken another path.
- You compare your choices to others’ decisions.
- You don’t believe you’ve made a good decision unless you receive external validation.
- You are quick to believe negative opinions of yourself.
- You underestimate the power of your choices.
- You don’t recognize and believe in your own innate value and worth.
To add to the list, let me add two more signs that I have observed in relation to real estate investment in Kenya.
- You prefer to invest in “Risk-Free” investments like Government bonds in this high inflation and weak shilling economy instead of diversifying your portfolio.
- You have “Analysis paralysis”. According to investopedia.com, analysis paralysis is an inability to make a decision due to overthinking a problem. An individual or a group can have too much data. The result is endless wrangling over the upsides and downsides of each option, and an inability to pick one. The process of choosing an investment is particularly prone to analysis paralysis. It’s easy to get bogged down in an analysis of many options until it becomes impossible to choose one. This inaction can lead to missed chances for profit.
Which of the signs describes you? I can help.
We have plots (e.g. Oaklands and Kijani Ridge) and apartments (e.g. Unity Homes) for sale and warehouses to let in a Special Economic Zone (SEZ) (e.g. Samtech Business Park) and in an Export Processing Zone (EPZ) (e.g. Africa Logistics Properties ALP in Tilisi). You can choose from more properties in Tatu City, Ruiru, Nairobi and other parts of Kenya. We can also scout the properties that suit your specific needs.
Lets talk +254 723 477035 or email firstname.lastname@example.org
Valuer Kariùki, MRICS
Registered & Practicing Valuer & Estate Agent, Kenya.
Chartered Valuation Surveyor. Global