COMMON LAND INVESTMENT MYTHS THAT ARE NOT TRUE

Most would-be landowners view the process of buying land as a scary venture that is risky to their finances and even life. The horror stories depicting harrowing stories of hapless land buyers duped of their life savings don’t make the situation better. However, with the right information, you can invest in real estate without as much as a scandal or losing sleep. Also, you will discover that most of your unfounded fear is based on misconceptions and myths. We demystify some of the land investment myths you might have heard from others.

Myth 1: Land is land. So, why pay higher for some land?

Land prices differ based on various factors such as the location, size, land rates, land use and other factors. Not all land is the same and you need to have all these considerations in mind as you plan to buy land.

Myth 2: I need a lot of money to invest in land

Your worry as an investor should be on why you need the land and if it will meet your current needs whether you want to build or buy a home. As mentioned above, the price of land is dependent on several factors. So, the size of the land and its location will determine the cost. Also, you can get help financing your land investment in the form of a mortgage

Myth 3: Land values grow slowly

Growth in the value of land mostly depends on whether it is prime land or not. If the land is far away from residential or urban areas, its value will grow very slowly over time, unlike land that is close. So, where you buy land determines how fast its value increases

Myth 4: I need special skill and knowledge to invest in land

Just like any other investment, there are risks involved. You would want to know about the pros and cons before investing. Other than that, you don’t require technical skills to invest in land. You can, however, inform yourself as much as you can through your own research on buying land in Kenya or you can enlist the services of a local seasoned real estate agent to help you.

Schools in Syokimau

Syokimau is an excellent place to call home, especially if you have children or you intend on getting some. They have good schools which are close to the residence; hence your child not getting stuck in traffic while commuting to and from school. Whether you are looking for Montessori schools in Syokimau or international schools, there are various schools to select. Syokimau schools include Syokimau Blessed Assurance Academy, The Daniel School, Almasi School, St. Francis of Assisi Mlolongo, Zuwena International School, Acacia Plains Academy, Mt. Sinai Primary School, Viraj International Academy, and many more.

Myth 5: I need to buy now or the deal will go away

Be wary of ‘deals’ that have an urgency attached to them. Unless available land in a specific area is scarce, you should never be in a hurry to buy otherwise you will encounter land scammers. You could see red flags and ignore them just because of the offer at hand. Take time to know about the land, the seller, history of ownership, land act regulations and then sleep on it.