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There are many advantages of buying land in Nairobi and its environs. Some of the best places to buy land in Nairobi include:
Those are estates where land is very affordable. You can get a plot of size 50 by 100 for Ksh 300,000 to Ksh1.5 million. Having a plot in Nairobi is like gold, it will appreciate exponentially. There was a time a plot of land in Upper Hill used to cost Ksh1 million but today you can’t afford—one acre costs over Ksh1 billion.
Here are reasons why you should own land in Nairobi
There is nowhere in Kenya where land appreciates like in Nairobi. If you want to buy land for speculation, this is definitely the place to buy one. There are plots which were being sold for Ksh 200,000 in Utawala 5 years ago, today the same cost Ksh 3 million and above. Anyone who bought one for speculation is smiling all the way to the bank.
The worrying thing is that the rate of buying land in Nairobi is higher than before and anytime soon, you’ll never get a cheap land to buy.
Rent in Nairobi is extremely high. Ideally, most people work rent. There are high chances that you will end up working in Nairobi and during that time, you’ll find life easy if you own your own home in the city.
Assuming your monthly earning is Ksh100, 000 per month and you have a family of 6 people, you have to look for a house in good estates like South B, South C and Buruburu but the rent will consume at least 1/3 of your salary. If you own a house, you’ll save the Ksh30, 000 you’d have spent on rent.
Assuming your child joins the University of Nairobi and you have a house in Nairobi, you’ll save the money you’d spent to rent a house for him. When you have a house in Nairobi, it will be easy for your relatives to stay in the city because you’ll be hosting them.
The demand for land in Nairobi is higher than in other towns. In case you want to dispose the property, you won’t struggle much to get a buyer.
If you build land in the village and you don’t stay there, it will be a dead investment. But if you build one in Nairobi, it won’t be a dead investment. Even if you aren’t living in Nairobi, you can rent it out and earn money monthly.
Banks and Saccos can easily give you a loan if you use land as collateral. They know that even if you default the loan, they will easily dispose your land and get back their money.
Use the loan for other investments.
The land you’ll buy is definitely a wise investment for your children. Even if you leave this world, you’ll not leave your children suffering.
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