So, you have been saving to buy land in Nanyuki but, you are unsure how to go about it? Worry not, we are here to give you pointers. While investing in real estate is both satisfying and profitable, the level of success in such ventures pegs on different factors. Such factors comprise your budget, what you want to use the land for and your risk tolerance levels: calculated risk tolerance attracts success.
As a beginner with limited knowledge of Nanyuki, your starting point should be to narrow down to a specific area and whether it fits your budget and use of the land. We advise that you plan a day or two day initial trip to visit the different parts of the town just to canvas and identify which areas you would be interested in investing in that meet your budget and need. There are different real estate agents that can assist with taking you around at a fee ranging from kes. 2,000 to 5,000 depending on the number of areas you visit.
Once you have an idea of the areas that you would like to invest in, the next step would be to create a strategy to help you narrow down on what kind of real investment you would like to venture in. Some of these strategies would be:
- Buying land for speculation purposes – This is a long-term strategy where you purchase property, wait for appreciation in its value after which you sell it. For success with buy and wait, learn to differentiate good deals from the bad. We offer different products that are within this segment that are not only affordable but strategically placed. You can check them out here.
- Flipping – Here, you buy the property or a house at a lower price; you renovate or add value to it and sell after a short while for a higher value. When it comes to land, you would have to buy at least an acre and above and have value addition on the land such as fencing the land and getting the power lines to the land and probably dig a borehole on the land then putting back in the market at higher price.
- Land for a commercial development – This type of investment has to be in a suitable location for the investment you would like to undertake. For instance, when one wants to put up a petrol station, one has to buy land that touches a main road and where there are few or no petrol stations nearby. If it’s land for building a school, one must put into consideration the location. The land has to be easily accessible, near an estate and in a safe neighborhood.
- Land for building a home – This may vary from every purchaser, but some factors remain constant such as accessibility to the land, security of the area, proximity to amenities and availability of the basic amenities such as water and electricity.
The bottom line with any real estate investment is that with only the down payment and signing of contracts or legal papers, you own the property and can control it. Beautiful isn’t it? Start your journey to wealth creation today by talking to us and we will walk with you throughout the entire journey.
Invest with us
Ricco Homes & Developers Ltd
Nairobi Office: Moran Lounge , Off Kiambu Rd, Nairobi
Nanyuki Office: Cedar Mall , 1st Floor, Laikipia Road
Tel: +254 705 999137 / +254 705 999139
Email: email@example.com / firstname.lastname@example.org