One of the key considerations when acquiring land is location, location, location. This greatly determines the value of the asset. For someone buying to speculate and resell later, they must do their math right. An individual buying land to settle down must also understand that, a home is much more than an investment. It’s a location where memories will be made and the experiences will shape or affect the family. So again, they too must get their math right in terms of location.
Many opt for areas outside major towns like Nairobi. The reasons though different and sometimes personal, all reflect the value in property acquisition in the city outskirts. The opportunity for greater acreage, more space to build custom homes to one’s specifications and of course the tranquility and million dollar views. Technological advances have also made city outskirts attractive; the joy of working from home compared to the nightmare of traffic jams, a bit of country living with benefits of small town environment and a bonus of amenities like good schools and shopping areas. Who wouldn’t want that?
Though attractive, some homework has to be done. It’s not just about the proximity to the major town but also accessibility, provision of amenities, and cost that an investor has to consider.
Accessibility is everything. The road network has to be good; both the access roads and the main road. It’s either the infrastructure is already in place, or is already in the process of being upgraded. Don’t forget that not all parcels of land include access roads, and in some cases you might drive across property owned by someone else, so it’s best to be on the lookout. Another aspects is how hard or easy it is commuting. Do public service vehicles ply that route? Not forgetting taxi hailing companies. Do they operate there?
Amenities are what make a place habitable. From schools, to medical centers, to leading banks and retail stores, and not forgetting police stations to ensure security is covered. Plus all work and no play makes jack a dull boy. So, is the area short in supply of fun with few, or even no recreational spots?
Cost is another element to consider. Land outside Nairobi can be both cheap and expensive. The closer the proximity, the higher the price. Proximity from major landmarks also drives up price. Land for sale in Upper hill, for example, is costlier than Kagundo Road. Cost can also be affected by utility costs like water wells, sewer systems, and electrical connections if they aren’t already in place. It’s also important to determine if the home site you are considering purchasing is in a flood plain. Engaging a surveyor is an additional cost. Convenience costs should also be factored in; how easy is it finding skilled craftsmen to travel to your location and transporting building materials?
Acquiring property outside Nairobi is a worthwhile investment. It’s just a matter of ensuring the benefits for you outweigh the costs like any other profitable investment opportunity.