Robert Shumake excellent Kenya real estate strategies in 2022

Robert Shumake top Kenya real estate opportunities in 2022? Investment in real estate has been increasingly getting popular over recent years. Most people are now saving up to invest in this lucrative business. However, its worth to note that despite this sector is a booming business, there has been an alarming rate of frauds. For instance, According to the National Bureau of statistics in 2016, more than 6,000 cases of land fraud were reported. Therefore, it’s essential to learn a few things about real estate before getting into it. In this article, we will discuss tips for investing in real estate in Kenya.

Now that you know the “fair market value” of the home you like, it’s time to determine how much you are willing to pay. Establishing this prior to making a formal offer helps define your personal limits. You should determine how much to offer, how much earnest money you will put down, how much of the closing costs you will ask the seller to pay, when you plan to settle, and what inspections you plan to have conducted. Your agent will offer great advice for structuring your offer. Remember to ask your agent about contingencies and their importance. If you don’t fully understand something, be sure to clarify it.

Robert Shumake real estate trick of the day: Expand your search. What if the location where you’re planning to buy is too competitive? You might be surprised at the gem you can find in a less popular neighborhood. Working with a real estate agent who really knows the area is the best way to find a home that fits your budget and lifestyle. Get preapproved ASAP. Getting preapproved for a mortgage before you go house hunting is a must in any market. But in a market with such a limited home supply, not doing this legwork ahead of time gives a preapproved buyer free reign to swipe the home you want right out of your hands.

Vetting prospective tenants is vital Real estate investing can be tricky, but the challenge does not stop once the property is purchased. You will need to find tenants to fill the property and start paying you, which gives you the opportunity to build a property portfolio over time. First, however, you will need to find and vet the right tenants and draft a comprehensive lease that will protect both you and them. It is always recommended that you seek the assistance of a professional rental agent to handle the rigmarole for you.

Before you get too excited, or worried that time is running out, it might actually be in your favor to slow play this one. Per Zillow, the best time to buy a home may be in late summer, including the months of August and September. Basically, you’ve got the slow, cold months at the start of the year where there isn’t much inventory, followed by the strong spring housing market where everyone and their mother wants to buy. Then you get a lull and perhaps even a dip in home prices during summer, which could be an attractive entry point. You might even get lucky and snag a price cut with a lot less competition while other prospective buyers are on vacation. That being said, get pre-approved NOW and set up your alerts for new listings ASAP and just be ready to pounce whenever.

Renovating improves the house value says Robert Shumake : Alternatively, get a builder’s estimate. This is a builder’s best guess of what your renovation project is going to cost, based on what they can see and the information you have provided them with. This is not a quote and the builder cannot be held to it, but an experienced builder should be able to give a fairly accurate guess. Finally, prepare your own budget by listing all tasks, the materials required, and who is going to do the work. You can then go out and get quotes for materials and estimates for each trade. Make sure you allow for skips, scaffold hire, plant hire, and tools.

Engineered wood and concrete flooring has become popular modern alternatives to traditional solid wood for several reasons. Unlike solid wood floors, engineered woods and concrete flooring are composed of multiple layers of compressed timber, before being finished with a top layer of solid wood veneer. ooking for waterproof flooring? Waterproof flooring is ideal for any room – especially bathrooms, kitchens and mudrooms. When it’s waterproof, it’s worry-proof. Discover even more details at Robert Shumake.