To say that land is a very valuable asset because of its finiteness is an understatement. There is only so much land that is available on this earth. Because land is constantly appreciating in value, it is deemed an excellent investment.
Vacant Land is one of the most overlooked and misunderstood real estate investments in the world.
Most real estate investors completely fail to recognize the superior benefits that come with owning land in its raw form.
On the surface, it seems like such a simple creature – but there can be A LOT of potential problems lurking beneath the surface of any piece of land. This is why we have listed the things you should know before buying land especially in Kenya.
1. What is the Zoning on the Property?
The first thing that is vitally important before purchasing, is to understand what the property can be used for, and what the highest and best use of the property is. You should contact your local planning and zoning department and inquire on what kind of property would be allowed in the zone.
2. What is the Annual Cost of Property Taxes?
Using the copies of the title deed provided by the seller, check the outstanding land rates by logging in on your eCitizen account and navigating on to the Ministry of Lands section, or visiting Ardhi House in Nairobi if the land number cannot be found on the platform or visit the local land registry where the land is located.
3. Does the Property Have Access to Water?
There are a lot of properties in the world that don’t have access to a municipal water supply (i.e. – city water). This isn’t necessarily a problem, but it does mean someone will have to drill a well in order to access a clean water source beneath the surface. It basically is usually a good indication that you won’t have any problems accessing water either.
4. Is the Property Located in a Flood Zone?
In some parts of the country, parcels of land are vacant because they are literally underwater. In other areas, there may be properties near bodies of water that are at high risk of flooding.
5. What Public Utilities are Available? (Water, Sewer, Electric, Gas, Phone).
If a property doesn’t have access to one or more of these common public utilities, the property (for all intents and purposes) may not be the most ideal candidate for building a home or other improvements.
After all, who would want to build a house where they can’t flush the toilet or get access to clean water?
Luckily, you don’t have to do this all by yourself. With Tatu City you not only get properties with secure and unencumbered title, but you also get controlled development, water and electricity with beacons in place. You will be saved the hustle of doing it yourself.