The benefits of investing in real estate are numerous and exciting. Hence, investing in Kenya real estate offers a wonderful opportunity to maximize your income potential and build wealth. With the diverse prospects available in carefully selected assets, investors are guaranteed substantial cash flow, tax advantages, and excellent returns.
As a Kenyan living abroad, investing back home offers you a chance to contribute to the growth and development of the country. Aside from this, you will experience a sense of fulfillment knowing you have a place to lay your head when you return/visit home or just the peace of mind that a good investment brings.
Kenya Diaspora Investment Fund
Kenya introduced its first licensed investment fund for citizens living abroad, in a move that is expected to encourage the Kenyan diaspora to invest in the country. Kenyans already invest in a wide range of sectors e.g., real estate, retail, agriculture, ICT, and so on. Hence there’s a need to put proper structure in place to make such investment successful.
This fund equips Kenyans abroad with information that enables them to identify and evaluate investment opportunities despite limitations of distance. It allows investment to be made through a regulated investing body.
However, while there is limitless value in investing in property acquisition, you must be well-informed about the intricacies of the real estate industry to avoid making poor decisions that may result in financial loss.
What You Should Know Before Investing in Properties from the Diaspora
1. Determine your goal
Not having a clear idea about your goal before you commence your investment journey could eventually cost you down the line.
Ask yourself important questions like;
- Am I looking to buy a home I’d come back and settle into?
- Am I looking to buy a home to resell or rent out as a passive revenue stream while I’m in the diaspora?
- Am I seeking to buy/build non-residential structures?
- Am I looking to buy land for farming or production?
Setting a clear, and achievable goal at the start is very essential as this sets the pace for the rest of your experience.
2. Scout for the right location
If you can’t travel down, it is understandable. Hence, you will need to find a trusted person or agency to scout the perfect location for you.
You should work with a professional to make this process easier. A lot of people parading themselves as brokers and agents in Kenya are not licensed and they can pose problems for you.
Here at SAIF properties, we are experienced professionals driven by the market need to provide luxurious and functional housing that works for you, at great pricing. We have put together innovative, high-quality, and modern housing solutions for all market segments. You can contact us to book a consultation.
3. Engage licensed professionals
You should engage the help of a licensed real estate/property agent every step of the way. This could include a lawyer to help you draft every necessary legal document, a surveyor to help you confirm the identity and location of the property as it relates to the registry index map. Using the help of a registered professional gives you peace of mind knowing the affairs of your property are in trusted hands.
4. Don’t conclude a transaction without being convinced
Even if you are dealing with a licensed realtor, you may experience some form of worry during the process of purchasing a property in Kenya while living overseas.
You might constantly ask yourself questions like;
- How do I know I’m buying the right property?
- How do I know I am buying in the right place?
- How do I know I am buying from the right person?
- How do I know I’m choosing the right city when I’m not in touch with the trends?
These are legitimate concerns. So, ask questions to clear your doubts, and have experts look at the details for you. You could also request a thorough physical or virtual tour of the property. Modern technology means standard real estate providers can offer this service which might just be the deciding factor that seals your conviction.
Investing, A Smart Move
In every sense of the word, investing is a smart move. From creating an additional source of income to securing long-term financial security and creating substantial post-retirement wealth, the potentials in investing right is vast.
And even if you are in the diaspora, you can take advantage of real estate investing to enhance your portfolio and diversify your income while creating stable cash flow. Kenyans abroad looking to invest back home can do so with the help of SAIF real estate. Simply contact us today.