Is Buying A House In Kenya A Good Idea?

An image of land mark on a property for sale in Nairobi

Description

Homeownership is a significant goal for many people living in Kenya. They want to make sure that their families live in a comfortable and secluded environment. Buying a house in Kenya is indeed a good idea. You'll stop paying rent and finally have a space you can call your own. Additionally, you don't have to go through a rather stressful building process.

How much does it cost to buy a house in Kenya?

There are a lot of Houses for sale in Nairobi, and even outside, that offer value for money.

The cost of buying a house in Kenya varies and will depend on a couple of things: The type of home you want, it could be a bungalow, a maisonette, or an apartment. 

The location and environment also highly influence house prices. For instance, buying a house in Runda, an affluent suburban close to the city, is way more expensive than buying a house in Kajiado, a rural area. In Kenya, on average, a decent 2-bedroom family home in Nairobi costs from as little as Ksh 2.5 million, a 3-bedroom house for as little as 7.5 million and a 4-bedroom house from 9.7 million.

Where are the best places to buy a house in Kenya?

There is no one size fits all when it comes to real estate in Kenya. The best place to buy a house in Kenya is dependent on your personal preferences and the criteria you use to make a decision. Kenya is a beautiful and diverse country that has a lot to offer. However, when you average things like security, amenities, affordability, serenity, access to roads, and value for money, a few places stand out like Nairobi, Nakuru, and Mombasa.

How do you buy a house in Kenya?

Buying a house in Kenya is a process, starting from when you decide to buy a house, to finally making an offer and purchasing one.

Here are a few key steps that you follow when buying a house in Kenya.

  • Set a budget

Have a look at your finances and determine how much you are willing to spend. Setting a budget will help narrow down your search without wasting time on houses that don't meet your criteria. This is where you decide whether you want to take a loan, a mortgage, or pay in full.

  • Identify a suitable location.

Kenya is a beautiful country. Again, depending on your preferences, narrow down on the kind of environment you'd like to live in. Would you like a serene setting in a leafy suburban or the fast life of the city? The kind of lifestyle you want or have will determine your choice of location.

  • Do your research 

Get online and browse through property listings until you identify what you want. There are a lot of credible real estate agents and property managers with online platforms who can make this process easier. Moreso, they have a diverse selection of houses for sale that you can choose from.

  • Enlist a certified agent 

Once you've identified what you like and the exact locations, contact a certified property management agency to help you look for your dream house and ease the burden of finding one. Real estate agencies are invaluable in this process as they have many properties in their portfolios. They save you a lot of time and money when it comes to physically looking for a property. Additionally, you can trust that the listings they have are genuine and free of fraudsters. They might even help you find a house you didn't know existed because of how well networked they are!

  • Conduct a site visit

Organize several house visits for the units that have proved appealing to you. House-visits are a must-have because you need to see and investigate the house you want to buy and settle in. While there, make sure you ask all the right questions. 

Can foreigners own a house in Kenya?

According to the land registration Act (3/2012) of the constitution, foreigners can own property in their name. Under this act, non-Kenyan citizens can only acquire land under a leasehold tenure for a period of between 50-99 years. However, it is important to note that Foreigners can buy 'commercial class' land in Kenya, meaning that the land is solely purposed for income or revenue making.  As a foreigner, you cannot own freehold property in Kenya

Investment opportunities – explore houses for sale in Kenya

Real estate investment in Kenya is a good way of making money and building wealth in the long run. There are lot of opportunities in which you can put your savings into. The real estate industry is a diverse economy that continues to grow as the country develops.  Lesama Limited offers complete services in property management, estate agency, and valuation in Nairobi, Kenya. We help clients buy and sell prime properties at guaranteed best prices.

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