Five Myths about Real Estate
There is a lot of ambiguous and incorrect information that we hear and read about real estate. It is important to research all the information before investing in real estate. It will also help you differentiate facts from fiction.
Below are 5 myths that we hear and read about real estate
Myth 1: real estate is a high risk investment
Every investment may it be real estate, mutual funds, shares, and other investments has its rewards and risks. Before investing in real estate, investors should be aware of the risks in the industry; therefore, they should make their decision wisely. However, in the real estate industry the realtor will help you with the entire process; hence, you will only face calculated risks. It is good to choose your realtor carefully as he/she will be the one taking you through till you get your property. You should consult with an expert in real estate that will advice you on matters like location of the property, government policies , property type, and market condition so that you can gain when investing in real estate.
Myth 2: only metros are the best places to invest in real estate
When investing in real estate it is always important to analyze the market trends, pace and scope of the market development in the location you want to invest in and also identify the areas that look potential. real estate chant is that you should invest in places with constant scope of development in the coming future.
Myths 3: most of the developers are losing focus on the middle income group sector and only concentrating on high-end residential projects because it makes better business sense.
The demand for high-end residential project has gone up due to several factors like increase in the levels of investment in the country and also increase in the income levels of the people. The Kenyan government focuses on “Affordable housing” and “housing for all’ has made the developers to also put more effort and focus on the segment as well. The demand for the Middle income housing projects have increased hence the developers prefer developing them.
Myth 4: real estate market is bad, we must keep away
In real estate industry, you can enter the market at a very low price when the market is very bad and then increase your returns when the market gets better. The builders have lucrative payment plans and policies hence the buyers can use them when the market is very slow. You should be careful when choosing your developer. You can consult a real estate professional to help you choose a credible developer.
Myth 5: real estate is not for the educated class like us.
The Kenyan real estate was unorganized and unprofessional unlike now where the unorganized parties are being vanished from the market and the educated and polished professionals are linking the industry at various levels. Good rules and regulations are being familiarized in the market. Customers can now get advice from the real estate professionals when buying or selling their property.
Denver Property is the best company selling land online in Kenya, we specialize in prime property and ensure that it has the right documentations and ready Title Deeds.
