I have lived and worked in Botswana and the UK. I have been in your shoes, and I know where it pinches.
Investing in real estate is not easy for anyone. It is not like buying shares or government bonds. Investing while living abroad poses an additional challenge.
Experiencing the product
Before you buy a shoe or a shirt, the normal thing is to try it on to see if it fits. Buying real estate is no different. Ideally, you need to visit the property and experience it for yourself.
As a Kenyan in the diaspora, you may not be able to experience the property in the same way as someone living in Kenya. An estate agent will tell you about the property and show you photographs and videos, but you might not appreciate it as much as you would if you were available for a site visit.
The most ideal scenario before investing is to see the property for yourself. However, it is not always that easy. Living abroad might mean you cannot come home as often as you would like.
Does that mean you should put your dream of owning property in Kenya on hold? Not necessarily. It means you need to be more deliberate about how you invest, who you trust and the checks you carry out before committing your money.
Let us look at some facts
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You may be earning more money than you would if you were working in Kenya. This could give you an opportunity to save and invest, depending on your living expenses and financial commitments abroad.
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There is a high likelihood that you will not be away for the rest of your life. You may eventually want to return home, even if you have not decided when.
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You may come back home because your immigration status changes, your circumstances change or you decide to retire. Would you rather start thinking about where you will live when that time comes, or begin planning while you still have an income abroad?
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You have seen better, and now you want better for yourself and your family. Your experience abroad may have changed your expectations of the home you want to own and the lifestyle you want your family to enjoy.
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You want your money to work for you. Real estate can offer rental income and potential capital appreciation. Some investments may achieve attractive returns, but you need to assess the purchase price, costs, rental demand, financing and risks before deciding whether a particular property is worthwhile. Do not assume that property will always outperform shares or government bonds.
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You and I are not growing any younger. The decisions you make today could influence where you live, how you spend your retirement and what you eventually leave for your children.
Living abroad should not stop you from considering real estate investment in Kenya. But neither should the desire to own property back home push you into making a decision without sufficient information.
As a Kenyan property valuer, I believe the starting point is to understand what you want to achieve. Are you buying a home for your eventual return, a property to generate rental income, land to hold for the future, or an asset you hope to pass on to your children?
The answer matters because not every property is suitable for every objective.
Before committing your money, make sure someone independent can help you assess the property, its value and the risks involved. Have the ownership documents and transaction reviewed by an independent Kenyan advocate, verify payment instructions and establish how the property will be managed if you cannot be there yourself. Buying remotely requires more than attractive photographs and assurances from a seller.
You do not have to make the decision alone, and you do not have to rush.
Are you a Kenyan living abroad and thinking about investing in property back home?
I invite you to contact me, Valuer Kariùki of Valuer Kariuki & Company, to discuss your property valuation needs.
Send me a WhatsApp message on +254 720 204074 or email info@kariukiwaweru.com to arrange a free 15-minute consultation. We can discuss your plans, the property you are considering and the appropriate next step, without any obligation to proceed with a valuation.
Your dream of owning property in Kenya deserves careful planning. Let us start there
