When you start making a steady income, you are probably going to start putting some money away in your savings. Anyone with substantial personal finance knowledge knows that a good way to use your savings is to invest them. Investments allow you to make passive income and put your money to work. They are better than savings because you can protect your money from depreciation due to inflation. You can also take advantage of business trends and put your funds into something you genuinely care about.
Real estate continues to attract many buyers of the many investment options available in the market. One key reason is that owning a home allows you to use your investment while potentially making money simultaneously. There are many homes available in the city for you to look at. You can buy an apartment or a house online in Nairobi quite easily. It is an intelligent investment choice that carries several benefits.
1. Great for new homeowners
First, it is a good option for people looking to own a home. That is especially applicable to those who may not be financially ready to buy a house yet. An apartment is a more affordable option, and it also means that you do not need to pay rent for a home that does not belong to you. It is a good investment because it saves you money over the years.
2. It comes with freedom of choice.
Buying an apartment also gives you much more freedom than renting one. You can furnish the house however you want and change the interior design. On the other hand, tenants have to follow a set of rules provided by the apartment owner.
3. Availability of multiple options
Also, Kenya and Nairobi, to be specific, have a vast market for apartments available for sale. You can also look at different neighbourhoods and pick the one that suits your lifestyle best. Some locations are more expensive, so you will need to save for longer to afford an apartment.
4. Multiple financing options
In Kenya, the financial sector is growing and becoming even more vibrant. Banks and other financial institutions are going out of their way to attract customers. That includes creating new products to fit the needs of consumers in the country. When you want to invest in real estate, you can take advantage of these offers to finance your purchase in the most intelligent way possible. Finding a financial plan that fits your needs is relatively easy in Kenya.
5. Relatively better investment choice
Many kinds of investments are available to consumers in the current Kenyan market. You may choose to go into stocks and buy shares. That should earn you dividends over time. However, you must purchase many shares to make a lot of money. You could also invest in a business and gamble on that enterprise’s success. Real estate is much more stable as an investment choice. It is less volatile and has a relatively lower bar to entry.
6. Potential to make money
The best investments are those that make you money in the long run. These are considered assets, and they improve our net worth. Owning an apartment means you can create an additional source of income by renting out the space for short-term guests. You can also sell the house eventually and make a profit because it will have increased in value. The real estate market’s growth in Kenya has resulted in property value appreciation.
The Kenyan market for real estate is large, and options abound for anyone looking to get a piece of the pie. It has a lot of variety, providing new and experienced investors with many houses. If you are considering residential property investment, this article outlines why it is a great idea.