How to Own the Right Home Meant For You
Home ownership is one of the major investments in a lifetime, how can you own the right home meant for you?
Loise lenser
Buying or renting a house is a special and unique experience that is long-lasting. When you find the right ideal home to live in. There are many ways one can own a home.
Purchasing land and building
To a point, it is one of the tedious ways of owning a home, from paperwork to lots of supervision. Right from the identification of the ideal piece of land, doing a legal search, making an offer to the seller to actual purchase and building of the home. To someone on a tight schedule, some steps may be missed therefore the need for an agent. Problems such as specific house design for a certain neighborhood irrespective of the claim of ownership of that land should also be considered when purchasing a piece of land.
Off-plan property
This involves a willing buyer getting into an agreement of paying an initial deposit followed by payments that are periodic with a sales agent until he clears the total property cost. It is one of the most popular means of homeownership as it allows everyone to do what they do best, with enough supervision. With an off-plan property, buyer considerations such as outlook and design are the top priorities.
Completed property
This is the most easiest but costly method to own a property. It involves buying a whole furnished house in cash or agreement with the seller but one usually moves into the property once he has already identified the ideal house and paid a deposit or total cost.
Steps to buying the house
1. Finances
What one can actually afford is a big deal when it comes to homeownership. Visiting your personal bank for an appraisal In case it is a mortgage plan you are using to get a home is a great step. It also brings in the difference between a great deal and a good deal.
2. Seeking an agent.
Whether you are buying or renting a house or purchasing land to build one, getting yourself an agent helps in weeding out your many choices. Housing is always a big financial investment, and it's advisable for one to do it with a registered and legitimate real estate agent. There are numerous fake real estate agents that can put one in big financial losses. Ministry of Lands and housing allow for the registration of agents and one can easily access such records just to be sure.
3. House identification
One can always make up a list of what she wants and a real estate agent can start from that. But here are things to consider.
- Price
- Location
- Neighborhood
4. Vetting
Due to numerous cases of fraud in Kenya, this is one of the most important steps. When dealing with an agent check his existing developments if there's none, check if they have approvals that are required to carry out this development. Look deeper into details like water and sewerage as well in the case of off-plan property.
5. Make an offer
It is the final step where one makes a formal offer. It is also known as an agreement of purchase and sale. It is a legal document that should be carefully prepared by a legal officer.
