Nairobi, South C
INVESTING IN OFF-PLAN PROPERTY - IS IT WORTH IT?
Off plan property is a property before a structure has been constructed onto it.
Off plan investment is the process where an investor purchases a property way before construction begins or during the construction period. This may seem as a risky business to invest in, but it’s slowly gaining momentum as the prices are much lower and can be up to 50% less than the price of a completed house and property investors hope to make substantial capital gains from it. This is a trend that has seen many aspiring homeowners acquire their dream homes.
The payments are flexible and can be made as construction goes on. A buyer can pay an initial deposit of 10 percent or more according to the terms of payment to secure the property. He/she then agree with the seller on how to settle the balance which is mostly done in monthly installments.
Steps to follow when buying an off plan property