Invalid land investment beliefs
There are a lot of myths in Kenya when it comes to land investment in Kenya. This is brought up a lack of knowledge, anxiety and fear. Waking up to horrifying stories of how to land buyers are coned all their savings can make one scared. Is there a way to invest in real estate without getting coned?
Having the right information about land investment is the only way out of such cases. Most people in Kenya ignore the need to get professional help or even education hence so many scammers have had their way. Getting educated will discredit so many false land investment myths that you have heard of. The following are some of these myths:
1. Land island, I should pay the same price
When it comes to land pricing, the price will vary depending on the location, size, land productivity rates and other factors. Not all lands are the same. however, this does not mean that the land with the lowest price has low productivity potential. Different land sellers have different reasons for their pricing.
2. You need a lot of saving to buy land
When buying land, you should not be driven by the cost of the land. Focus on the reasons as to why you need land. Some will want to own land for investment purposes while others will want to build a home. As stated earlier, land pricing differs depending on its size and location. Also, if you need financial help, you can consult your bank for a loan.
3. The land value grows slowly
One of the common land myths is on land value. Well, you will be glad to know that the growth value of land is dependent on whether its prime or not. Land close to urban areas will have high growth and vice versa. So, the location of your land will predict its growth rate.
4. Need special skills to invest inland
Like any other investment, land investment has its risks. You would want to know how to avoid these risks before buying one. Other than that, you don’t need professional knowledge to buy land. Although you can get professional help, this is entirely up to you.
5. You need to need to buy or it will get someone
Remember what we learned about scammers? The same case applies to buy land. Do not be in a hurry to buy land. most of the deals made in a hurry only turn out to be scams. Do your research before making any transactions with the seller.
The above tips are very important while buying land. Make use of them. You don’t want to fall into a trap that you have been warned about. You can also protect yourself from the obstacles related to purchasing them by using the award-winning real estate agency, Commercial property Kenya. Ready to buy? Contact one of our agents today.