Point Properties Ltd – Articles of Interest

Steps To Buying Real Property In Kenya

The case, however, is that many Kenyans indulge in land transactions with such reckless abandon that they disregard the need to maintain the barest modicum of due diligence. That is when they end up being defrauded. So here is the process explained step by step to help you know what to do next time you want to buy property in Kenya. 1. Identify the property The first step is obviously finding the property (land, house etc) that interests you. You can do this by contacting the vendor directly or by enlisting the services of a reputable real estate agent. When you have identified the property you want to buy it is important to conduct a site visit to ensure that the property and its surroundings meet your specific needs. 2. Conduct a search The buyer should obtain from the seller a copy of the title of the land and a copy of the national identity card of the seller. The copy of the title will be used to conduct a search of the land at the lands office while the copy of the national identity card will be used to verify the identity of the seller at Registration of Persons…

It’s that time of year again! Sea, sun and securing your home; maybe not your typical list, but this really should be the third thing you think about before you jet off! As we approach mid-summer, we’re in full holiday flow, organising last minute excursions, buying currency and perhaps organising who will look after the pets. But, before you go, here are 5 ways to help secure your home while you’re away on holiday. Lock your windows, as well as your doors! On these warmer summer nights, it’s easy to leave a window open and although it may be simple, it can catch many people out when they’re getting ready to leave their home. One way to avoid leaving windows open can be to make a check list when you’re heading off on holiday and double check that you’ve not left one open. Another simple thing you can do if you want to make sure your property has some air moving through it is to put your windows on vent, but try and make sure that you do this on windows which aren’t obvious. Make your house looked lived in A top tip to deter an incident occurring is to…

As a former New Yorker and current owner of a wee Cape Cod cottage, I am quite familiar with both the charm and challenges of small spaces. When done well, they can feel like cozy, Zen-like retreats. But often when you have to cram all your worldly possessions into one tiny space, the results can feel cramped, claustrophobic, and anything but restful. Achieving the former instead of the latter takes some conscious effort. The good news is that the key to successful small-space living might be easier than you think. It all boils down to tricking the eye into perceiving more space by employing three simple concepts: scale, light, and movement. 1. Scale it down. Above: At Harbor Cottage in Maine, all the furniture, even the woodstove, has been downsized to fit the small living area. Photograph by Justine Hand from A Cottage Reborn in Coastal Maine. Furniture for the small space is all about proportions. Simply put, if a piece brushes up against the boundaries of the room, either up and down or sideways, it’s too large. To create a sense of roominess, always leave a little air in between the sides of your furniture and the walls. (The one exception is a…

If you live in a major city, then you might find yourself short on living space. And since your apartment isn’t getting any bigger, you might want to consider ways to make it appear more expansive. The senior designers from Décor Aid have these tips for making your space look bigger. Low-Profile Furniture Low-profile furniture pieces are one of the easiest ways to make a room look more expansive. But don’t source furniture pieces that sit right on the ground. Instead, source pieces with long, narrow legs. A low-profile piece with slim, contoured legs will make your space feel much more expansive. Don’t Block the Windows When trying to make your space look bigger than it actually is, makes sure to not block your windows. Besides being essential to natural light, windows also draw the eye upward. Organise your furniture so that it highlights your windows like we did in this chic, Union Square loft. Reflective Materials When trying to make a small space feel more expansive, source as many reflective pieces as possible. Mirrors are a great way to open up your space, but also consider going for chrome or platinum furniture, instead of pieces with a matte finish. Lighter…

A group of 35 savings and credit co-operative societies (SACCOs) has unveiled a housing loans plan in which their members will get interest-free mortgages. The scheme, called the Africa Tenancy Purchase Initiative, will see credit union members pay an upfront deposit of 10 per cent of the cost of a unit and then pay the balance in “rent” instalments for up to 20 years. The unions, including Kimisitu Sacco, Safaricom Sacco, Habitat Housing Co-operative, and Nation Sacco, have a pipeline of five projects under the tenant purchase scheme comprising high-rise apartment blocks within the Nairobi metropolis. Up to 5,000 members are expected to benefit in the next two years, a number that is projected to rise as more saccos join the scheme. “With more than 90 per cent of Kenyans being tenants, this scheme converts their rent payments to make them homeowners. You just pay the deposit and the balance as rent. There is no interest rate,” said Mr David Ndegwa, a real estate developer and a member of the scheme’s steering committee. “We have critically analysed the consumer behaviour and the dynamics around how much a typical Kenyan in urban areas pays for rent and structured an affordable rent-and-purchase…

Investors seeking to buy property, especially three-bedroom apartments are advised to first consider checking out Lavington, where effective demand for sale is increasing as compared to neighbouring locale, Kilimani, whose demand for sale is decreasing. A study by Data Fintech (DF) shows that between first quarter of 2016 and first quarter of 2017, the median price for buying a three-bedroom apartment increased in Lavington by 9.1% and 5.8% in Kilimani. The estimated price for the three-bedroom unit is Ksh21 million. The gross return on investment (ROI), which is the accumulation of the rent yield and the property price appreciation, is 11.9% in Lavington and 11% in Kilimani. Mr Justus Thuo, a real estate market analyst Data Fintech, points out the difference in rent per month for a three-bedroom apartment in both estates – Ksh100,000 in Lavington and Ksh120,000 in Kilimani – as the major driving force. “The median rent in Lavington is lower than the median rent in Kilimani yet the quality of the properties is the same so there is a price gap, which is drawing the increasing effective demand in Lavington and a slowdown in Kilimani,” he says. The same has been seen in the pricing for the units where the…

Buying a house is not like buying any accessory, it is a huge step! This is a big investment that requires a lot of research and patience. Before you enter into the world of home-ownership, there are some things that you need to do. 1.Have a checklist Before looking for a house, visiting a property website or calling agents, you should first know what kind of house you want, how many bedrooms, bathrooms, land size area, your budget, location and your mortgage options. 2.Create a budget To avoid any financial mess, make sure you go for properties that are less than what you can afford. ‘Don’t bite more than you can chew’ this will help you save a lot of time and money. When you get the house that you want, you can use the money saved to renovate or even customize it for that authenticity. 3.Be patient Take your time when searching. Be open minded and visit more houses for different options. Don’t rush into making a deposit on the first house that you like because you might find a better deal than what you got before. Once you find the house that you want to settle for, find…