I have lived and worked in Botswana. I have been in your shoes and I know where it pinches.
Investing in Real Estate is not easy for anyone. It’s not like buying shares or Government bonds. Investing when away can pose an additional challenge.
Experiencing the product
Before you buy a shoe or a shirt, the normal thing is to try them on to see if they fit. Buying real estate is not any different. You need to visit the property and experience it.
As a Kenyan in the Diaspora, you are not able to “experience” the product. An estate agent will tell and show you photos and videos of the properties but you might not appreciate it as much as you would have if you were available for a site visit.
The most ideal scenario before investing is for you to see for yourself. However, it’s not that easy as being away might mean you can’t come home as often as you like.
Let’s look at some facts
- You are earning more money than you would have if in Kenya
- There is a high likelihood that you will not be away for the rest of your life
- It is possible that you will come back home either because your papers will have expired or you will want to retire.
- You have seen better and now want better for yourself and your family.
- The returns available in real estate investment are two or three times higher than any other investment option, you can make 20% – 30% return if you invest wisely.
- You and I are not growing any younger.
As we continue with this series, I will highlight some great deals that you should take advantage of
|Size||Description||Normal price||Discount||Offer price||Payment plan|
|40×80||Toll area. 1km from Thika road to main estate gate.||0.8 – 2M||Negotiable|
|Red soil gated controlled estate with green fences in Ruiru.||3.3M||300,000||3M||3 years|
|Fully serviced plots in “New Runda” with tarmac roads and green fences.||15.1M||1.5M||13.6M||2 years|
|2 &3 brm apartment||4 floors. Lots of green area, swimming pool, clubhouse.|
Excellent for AIRBNB
|2 & 3 brm apartment||In Kinoo fronting Waiyaki Way. Excellent for rental||7M||0.5M||6.5M||Negotiable|
Part 2 Next week Three types of properties to buy
Part 3 The other week What to look out for when you visit a property.
I appreciate your feedback. Please reach me on +254 723477035 or email email@example.com
Valuer Kariùki, MRICS
Registered & Practicing Valuer
Chartered Valuation Surveyor.