Real Estate Pains In Kenya


By Rosalind Sabari
18/10/19

#1 COST

Right off the gate, the number one pain that is often associated with Real Estate is cost. It doesn’t matter what side of the spectrum you fall, that pain is equally shared. Home buyers hate stumbling on overpriced real estate assets, and home brokers equally detest buyers that cheap out on the negotiating table. This is a rivalry that has remained alive and well since the ancient days of Rome.

Picture this, a real estate company having built an estate comprising of twenty,  four bedroom maisonettes, each going for the unit price of 22,000,000. That Sounds affordable right? Well, bare with me as we crunch the numbers. In the event that the property owners decide to engage agents, they’re likely to be paid based on a long standing commission principle. And any surplus amount that they make on the unit price is theirs for keeps. And as such they might inflate the price to a stagerring 23.5 million.

When you close negotiations, you’ll think you have met the nicest agent in the industry for he/she will give you a 500,000 KES discount and you’ll walk away thinking you made a bargain, yet in reality you’ve made a 1,000,000 KES loss! *Tsk *tsk *tsk

Here’s how you can avoid that mess! Make a resolution to only deal with real estate companies that have an in-house marketing and sales team. They often don’t rely on the mobilization of snake oil salesmen to make a buck, and they are a hundred times more likely to sell you your first home at the appropriate, unfiltered price. Trust me, I’ve been in the game for a while now, and I can tell you for a fact, the bigger the company, the lower the unit price and Vice versa. If you are a resident of Kenya, try the likes of Cheriez Properties. At the time of writing this article they are currently off-loading four bedroom maisonettes at Royal Gates Estate In Kitengela. Visit Cheriez.properties to bag yourself a winner. At royal Gates a nice four bedroom home is going for only 19 million KES.

#2 LOCATION


The number of times I’ve seen an amazing property in a shambolic neighborhood, is beyond count. Some developers simply overlook one of the cornerstones of success in the real estate industry, location! I couldn’t stress this enough. It is important to make sure you buy a home in an area with more than one feeder road, access to basic amenities like schools and hospitals and a close proximity to law enforcement. If any one of the three misses from the equation then you might as well throw your money into the ocean. 

Always strive to move into neighborhoods with a standing structural guide map for developers. This will help you avoid awkward scenarios I.e. where a business mogul builds a 6 story flat right next to your home. That will essentially mean that tenants who occupy apartments from the second floor to the sixth, will have a birds eye view on your property. To avoid this predicament, be sure to build or buy property in areas that have favorable construction laws that’ll ultimately protect your privacy.

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