Buying a home or an investment property is one of the biggest financial decisions you will make. In Kenya, a careful process protects your money and your title.
1. Decide how you will pay
Decide early whether you will pay cash, take a mortgage, or use an off-plan payment plan. If you need a mortgage, speak to your bank first so you know how much you can borrow.
2. Match the property to your goal
A home for your family and a rental investment need different things. For investments, look at rental demand in the area, typical rents for similar units, and service charges, which all affect your return.
3. Do your due diligence
- Run an official search at the Lands Registry to confirm ownership and check for charges or cautions on the title.
- For apartments, confirm whether you will receive a sectional title or a long-term lease.
- For off-plan purchases, check the developer’s track record and the project’s approvals.
4. Use an advocate
Your advocate reviews the sale agreement, handles the transfer and advises on costs such as stamp duty and legal fees. Never pay a deposit before the agreement has been reviewed.
5. Plan for after the purchase
If the property will be rented out, decide whether you will manage it yourself or use a property manager to find tenants, collect rent and handle maintenance.
Ready to start? See properties for sale or talk to Espace Realtors on 0777 007778.