Kenya is a beautiful country located in East Africa. It is known for its wildlife, stunning landscapes, and friendly people. Kenya is also a great place to invest in property. The Kenyan government has implemented several initiatives to make it easy for foreigners to buy property in the country.
There are different types of property you can buy in Kenya. These include residential property, commercial property, and agricultural land. The government has also incentivized investors who want to purchase property in Kenya.
When buying a Kenya property, it is always advisable to work with a reputable real estate advisor. They will guide you on where to start to get your dream home. Moreso, they can also connect you with the right people who will help you get your property registered.
Additionally, you should consult with a lawyer to ensure that the transaction is legal and above board. You should also ensure that you get the property registered in your name to avoid any future problems.
There are different ways to own properties in Kenya, namely;
a)Freehold ownership
b) Leasehold ownership
c)Mailo land ownership.
d) Customary land ownership.
You must understand the difference between these types of ownership before deciding which one is best for you. Each kind of ownership has benefits and drawbacks. For instance, freehold ownership gives you total property ownership, and you can do whatever you want.
On the other hand, leasehold ownership gives you the right to use the property for a certain period. Investors that aren’t yet prepared to commit to long-term investments usually utilize this kind of ownership.
Mailo land ownership is another type of ownership where you own the property, but the right to use it is held by someone else. The person with the right to use the property is the mailo holder. This ownership is typically employed by investors who wish to buy property in Kenya but can not commit for a long time.
Customary land ownership is the most common type of ownership in Kenya. In this type of ownership, you own the property, but the community holds the right to use it. The community has the right to use the property for their purposes.
Here are some tips on how to buy a property in Kenya:
Do your research
When you want to buy a property in Kenya, you must do your research first; this means you should know what you want and where to buy it. A sensible budget should also be in your mind. This will help narrow your options and make finding your dream home much more manageable.
Find a reputable real estate advisor.
When buying property in Kenya, you should always work with a reputable real estate advisor. With their experience and expertise, they can guide you through the process and help you find the best property for your needs.
Get the property registered in your name.
Once you have found the perfect property, getting it registered in your name is vital. This will help avoid any future problems and give you peace of mind knowing that you are the rightful owner of the property.
Consult with a lawyer
It is also essential to consult with a lawyer before buying property in Kenya. They will be able to advise you on the legal aspects of the transaction and help to ensure that everything is above board.
When you buy property in Kenya, you open the door to a world of investment opportunities. The recommendation is to look for areas that are growing. Always look for sites where there is new construction, expansion of existing businesses, and other signs of growth. These areas are more likely to see increases in property values over time. If you are considering buying property in Kenya, follow these tips to ensure a smooth and successful transaction.
