In the African setup, investing in land has always been an important investment regardless of the purpose. In the increasingly urban setting,3 Common Mistakes to Avoid When Buying Land owning a piece of land has become more of a necessity than a sign of pride. Most Kenyans want not just a plot but a house on it.
That being said, demand for land has skyrocketed, making it quite scarce as everyone is rushing to secure something. Within Nairobi, land prices have risen beyond the reach of many, and so land buyers are looking for affordable land on the outskirts of the capital in areas like Kangundo Road and Eastern Bypass. When securing property, be it land or building, it is important to avoid mishaps, and below are three main mistakes that buyers often make and pay for dearly.
- Ignoring Paperwork
The number of cases of individuals being corned is countless. Going through your paperwork, be it sale agreements or contracts, is important as there are many fake documents changing hands every day. The importance of going through these documents is to ensure that you are safe and sure that your investment is legit by law. If need be, it is advised to involve your lawyer to go through the documents before signing.
- Failing to Research
Research before making any kind of purchase is important to avoid diluting your investment. By research, you need to know every feature of the land or property you are interested in why and where you want to invest, and the added advantage it will bring to you to avoid making a dead investment.
- Blindly Trusting Others
The majority of land investors are first-time buyers who, in most cases, are recommended or advised by individuals to make a purchase. Most of these individuals tend to trust too much to the point their vision is blurred on who might be genuine and who is not.
Blindly trusting a third party can make you spend more than is required or even worse lose money due to making an investment that does not suit you or is not legit. It is advisable to always consult experts before making a purchase. (Source >>
