What you need to know about getting finance to invest in real estate in Kenya
Investing in real estate in Kenya and especially land is the desire of each and every person, however, not everyone is in a position to raise all the required amount once. Should you need to access financing to help you fund your land ownership dreams, below are the key things you need to know.
Institutions that offer financing for investing in real estate in Kenya
Key elements to look out for in any loan offer from a financial institution
Keenly, evaluate the loan terms and conditions. These includes the total payback amount against the intended land investment value and interest rates. This will help you in your decision making before you sign up for any loan.
A debt to income ratio is a personal finance measure that compares the amount of debt you have to your overall income. This helps you to measure your ability to manage the payments you make each month against what you earn. This will help you evaluate how well you will be able to repay your loan without much strain.
Check the reviews of the financial institution that you wish to secure a loan with and you will get first-hand information on what to expect in your loan application process and the repayment journey.
In conclusion, once you obtain a loan to finance a land investment, be careful not to spend it on other things lest you are unable to achieve the intended purchase