Robert Shumake premium Kenya real estate news 2022? Research on the type of real estate investment you want to invest in Kenya There are many real estate firms operating in Kenya now. Most of them have worked in different countries and understand all there has to be in real estate. Most also offer workshops and training in being successful in the real estate market. Before making any decision on whether to invest in land, commercial or residential property, it’s important to attend those training. Indulge yourself into learning from experienced professionals about their journey and how they have been able to make it. Who knows, you might be able to get yourself a partner as well as investors in those meetings.
After narrowing the search to 2 or 3 homes, your agent will do whatever research is necessary to aid you in making your decision. Ultimately, however, it is your decision. Some tools that can help you make that final decision include school reports (if you have or are planning on having children), statistical information from the local chamber of commerce, future zoning or road expansion from local planning offices, etc. Whatever the factors of importance are to you, have your agent help locate that information. Once you have selected a single home to focus on, your agent will conduct a comparative market analysis on that property. This involves determining “fair market value” by looking at what other buyers were willing to pay for properties similar to yours in the same neighborhood or area.
Robert Shumake real estate suggestion for today: Next up: home price trends. In November 2020, existing home prices grew by a whopping 15% compared to last year—rising to a national median of well over $300,000! This marks more than 100 straight months of year-over-year price gains.4 Sellers, this should put a big smile on your face! And hang tight, buyers—we have some advice for you too. If you’re going to buy a home in this expensive market, you absolutely must find out how much house you can really afford. Commit to staying within that budget amount no matter how much pressure you feel watching competitors pluck good homes off the market.
Calculating all the costs Purchasing a property is not just paying for the upfront costs or the bond deposit – many first-time investors forget about other expenses too. Levies, rates, and taxes are also involved, as well as registration fees, transfer costs, maintenance costs, and even sprucing up the property before renting it out. Secure the necessary funding Before investing in real estate, you will need funding. Most often, this is a home loan provided by your bank. Different banks have their own lending criteria, and finding the right one means a loan with favourable interest rates. Interest rates are not all you should be shopping around for, either. Seek a bank known for top-notch services and transparent communication all the way.
You probably don’t have the same skill set as Joanna and Chip Gaines, but you might still wind up with a fixer-upper thanks to those inventory constraints. And that’s totally okay. What I’ve learned from buying real estate is that you’ll typically never be content with the upgrades previous owners or developers make, even if they were super expensive and high quality. So why pay extra for it? There’s a good chance you’ll want to make the home yours, with special touches and changes that distance yourself from the previous owner. Don’t be afraid to go down that road, but also know the difference between superficial blemishes and design challenges, and even worse, major problems. Especially this year, watch out for money pits that sellers can finally unload because real estate is just so very hot. Those properties that could never sell may finally find a buyer, and you might not want that buyer to be you.
Renovating increases the house value says Robert Shumake : When renovating a property it can sometimes be tempting to give heavily advertised ‘miracle cure’ treatments a try, lured by extraordinary claims such as ‘never paint again’, ‘seal leaks for good — instantly’ or ‘the ultimate solution to all roofing problems’. But some of these products can actually be very damaging when applied to older buildings. Spray-on renders and polyurethane foams can block crucial ventilation paths in walls and roofs, and despite claims to the contrary offer virtually zero insulation benefits. Instant damp sealants are rarely effective and can trap damp in walls. Basically, if something sounds too good to be true, it probably is.
Slate and Marble are a very popular natural stones that are quarried and cut into slabs and tiles for a variety of residential and commercial building applications, including countertops, floors, and wall tiles. Laminate flooring allows you to enjoy a wood-like floor without the actual use of any solid wood in its construction, allowing it to be more environment-friendly. Laminate flooring simulates wood (or sometimes stone) with a photographic applique layer under a clear protective layer. Find extra info at Robert S Shumake.