So you’ve seen your umpteenth infomercial with the guy in his neatly pressed button-upped white T-Shirt grinning ear to ear waving his rock-solid no-money-down rags-to-riches real estate investment course for 3 easy payments of a gazillion shillings (but only if you call now) and now you are thinking, “wow this looks like a great deal, I better get it fast before the special offer expires.” You notice how there’s always a special offer? Anyway, I am not saying this guy isn’t telling the truth, however regardless of which course or school of thought you buy into there are several key areas that one must avoid when engaging in any real estate related transaction.

How much does a 3 Bedroom house cost to build in Kenya

2 Bedroom House in Mbale Vihiga County, 14 days later. Affordable Housing, Less than Ksh1M Budget

Pitfall Number 1: Don’t Overpay!

The whole point in investing is to find properties that are undervalued. How does one find out what is undervalued versus overvalued? Without getting into technical details, the bottom line is you need experience. Yes much like shopping for anything else, real estate is essentially one of the highest ticket items in the shopping center of life. It’s advisable to stick with one market, perhaps the one closest to you in proximity as a starting off point. Through your experience and asking the right questions, you will eventually have a feel for the pulse of the market you are looking after, and of course identify what is considered a good buy as far as properties Kisumu real estate is concerned.

Pitfall Number 2: Know the Market of properties Kisumu real estate

Yes, you are actually going to have to do more work! This part is really common sense though, but executing it where the beauty and the payoff comes in. How do you make money in properties Kisumu real estate sector? The most basic way is to buy low and sell high. So from the first step, you have identified general trends in the value of homes, and are pretty good at spotting undervalued homes. Assuming you acquire that home, you may want to profit from it by selling it off to someone else for a higher price. How can you do this? Well there are many ways. For one, most markets appreciate in value over time so if you want a longer term approach that will work. Making upgrades to the property will automatically raise the price of the home as well. Think in terms of what the market wants, not what you personally want. You aren’t the one buying it; you are trying to sell it to someone else for a higher price than you bought it.

Pitfall Number 3: Know Your Budget

It may be a fine philosophy to go through life on a whim, but real estate is serious business, and thus diligent financial planning and budgeting is critical to your success. Don’t worry you don’t need to be a finance geek, however you need to be disciplined and know your budget from the onset, or you may be finding you are learning that you need to make certain renovations or upgrades, and didn’t anticipate it going over to a certain cost. Think ahead as to what is needed before actually going forth with investing in properties Kisumu real estate.

View some of the properties available for sale

View land in Mamboleo

1/4 Acre land in Mamboleo @Ksh1.5M

1/2 Acre land in Mamboleo @Ksh2.5M

1 Acre land in Mamboleo @Ksh5M

View land in Maseno

1/4 Acre land in Maseno @Ksh1.5M

1/2 Acre land in Maseno @Ksh2.3M

1 Acre land in Maseno @KSH4M

View land in Riat

1/2 Acre in Riat @ Ksh3M

1/4 Acre in Riat @Ksh1.8M

1/4 Acre Land in Mamboleo Ksh.1.5M

Muhoroni land for sale

Koru land for sale

Get more articles and properties for sale by visiting www.westkenyarealestate.com

If you are looking a house designs in Kenya or a construction company in Kenya for your next project, think Marble Engineering and Construction Ltd.
We are a Design and Build Construction Company in Kenya with over 25 years of experience in active building construction in Kenya. We mainly do house plans, project planning, building construction, renovations and extensions, institutional building, commercial office blocks and plumbing and drainage services.