4 Key Considerations When Buying Land in Kenya

When looking to buy land in Kenya, having as much information as possible about what you’re looking for can help make the process go more smoothly.

While purchasing land has numerous advantages, there are several factors to consider before taking the plunge. Where do you even begin?

1. The first step in purchasing land is determining the reason for the purchase. Do you intend to build and live on the land? Build it and then sell it? Otherwise, consider land banking for future capital gain. These are some of the reasons why people purchase land.

1. The second step after deciding on your land use is to determine the location and area of greatest interest to you. The location you select should be well-aligned with your investment objectives. You can do this by consulting a local real estate agent, as well as searching online and in real estate publications for land that is currently for sale in the area you want, as well as amenities that are available.

2. After you’ve decided where you want to buy land. The third step is to enlist the assistance of another person. While you can do this on your own, an experienced real estate agent can assist you in looking at any land for sale in your area and walk you through the process. If you decide to hire a real estate agent to assist you, be sure to tell them exactly what you want. Land investment agents can frequently assist you in finding the plot of your dreams.

4. The fourth step is to decide how you will finance or pay for the land. Although cash is usually the best option (no interest, frequent cash discounts), you may be able to obtain conventional, land, or seller financing for the purchase. Prepare to pay up to 50% of the land cost as a down payment, as financing usually necessitates a sizable down payment. After successfully acquiring and paying for the property, you’ll want to make improvements that increase the value of your investment.