- Francis booked two plots with Ksh 10,000 each. Username Investments gave him a flexible payment plan where he could pay in a duration of 6 months.
- Land being a physical asset, it is important to go in person to see the land, beacons, survey the area, check the accessibility of the property and terrain lest you buy a property in a flood zone.
Growing up, Francis desired to own land in Nairobi where he could settle his family in the capital city as he went about his daily hustles in the city.
However, amongst his many suspicions was the fear of being duped in his search for a genuine piece of land. His second fear was getting an affordable land from a genuine company and thirdly, an investment partner who would allow him buy land in instalments.
During a meet up with his long lost friend, Josh, from Machakos, they ended up discussing some of the best real estate companies around Nairobi that one can invest with.
Considering that Francis was more inclined to a property within Nairobi Metropolitan area, Josh recommended land in Kangundo Road, a property he had learnt about from a promotional message from Username.
He introduced Francis to his Relationship Manager back at the company so that they could plan for a site visit on a weekend.
Viewing the Property
Francis settled for a Saturday visit to go see and have a feel of the property. Land being a physical asset he understood the importance of going in person to see the land, beacons, survey the area, check the accessibility of the property and terrain lest he buys a property in a flood zone.
Francis joined a site visit one bright Saturday morning and he noted that, “the location of the project was less than an hour’s drive from Nairobi CBD. The land was also few minutes from Kangundo Road tarmac along an all-weather road”.
He would later learn that this road joins Kangundo Road tarmac and Thika-Garrisa highway. “I was impressed to know that the road is set to be tarmacked all the way thus increasing accessibility and spurring developments.
The location would be ideal not only for my family but also for me to meet up with friends like Josh because Machakos is an hour’s drive from Kangundo Road”.
“When we branched off Kangundo Road, I was amazed by the posh homes and estates that were already built and others at the foundational stage. This was a nice residential area with great proximity to tarmac. I could not imagine that an eighth acre was selling at below 1M, I thought it would cost millions but Username was offering it at a very affordable price of Ksh 629,000 only.”
“To spice it all, the project had amenities such as an estate gate, a perimeter fence and the internal access roads were graded. The place was a perfect fit for my investment goals.
The investment journey
Francis booked two plots with Ksh 10,000 each. Username Investments gave him a flexible payment plan where he could pay in a duration of 6 months. This gave him confidence and he had no reason to wait longer. He began his home ownership journey that Saturday.
He signed an Offer Letter to reserve the plots and later on a Sale Agreement. These documents gave him confidence that he was in a legally bidding agreement with the land selling company and that his interests were protected.
Being a businessperson and the inconsistent nature of incomes, he could no longer afford the agreed amount for the monthly instalments. He had opted to ask for a refund but realized he would lose an investment opportunity he had worked so hard to get.
He would share this challenge with Josh who cautioned him that if he took a refund, he would end up spending the money within a few days in other engagements.
“Josh encouraged me to visit Username Offices and renegotiate the instalments plan from the agreed 6 months to 9 months which I did reluctantly. This relief gave me a chance to comfortably pay for the plots. The good news is that I cleared within 8 months and signed a Title Transfer Form.”
Title Deed Processing
In real estate investing, a title deed is the ultimate proof of property ownership and Francis knew this too well.
“There were cases where I would hear stories of people complaining when asked to pay extra fee for title deed processing, stamp duty and land mutation costs. Therefore, in as much as Josh assured me he never paid extra, I was still sceptical. However, my Relationship Manager kept assuring me that the price was all inclusive of title processing fees with no hidden costs.”
True their promise, I received a text message that my title deeds were ready for collection! This was a dream come true of owning land around Nairobi within a year”.
“For my own piece of mind, I did a title deed search to ascertain that the land transfer was done legally and indeed it was! All records were available in the lands registry that the title deed is now genuinely mine”.
What next for Francis?
Francis now plans to build his home in the 2, eighth acre plots. An investment journey that started with Ksh 10,000 has now given him a place to call home within Nairobi Metropolitan area. He is optimistic that he can get financing to develop his dream house albeit in stages. At least, he has achieved one step of owning land in Kenya.
His Advice to Aspiring Investors
“There is no one time you will have enough money to invest. Start with what you have, identify an investment and a genuine investment partner who can walk with you. Also, have friends who cheer you on. I am grateful to Josh”. He also advises those experiencing lost and reduced incomes to look out for land selling companies with affordable properties and allows you to pay in instalments.