Buying land is usually a sound investment because the land won’t go anywhere and you can improve upon it in the future. Besides the primary rule of location, it is important to learn everything you can about a piece of land before you buy it. Aside from learning all you can on paper, go see the land, and inspect it for yourself. Keep an eye out for these red flags when buying land. You’ll want to avoid these problems! The Surrounding Area is zoned for Other Use A land zone is how the local governmental authority determines how a specific portion of land can be developed. Commercial zones are designated for shopping centers and offices and industrial zones are set aside for manufacturing plants and storage facilities. Although the plot of land you purchase could be zoned for residential use, the area around you might be zoned for less than ideal neighbors. It might be empty now, but the municipality might have plans to build a nightclub or federal prison next door. Take a look at the long-term plan for the area and decide if you’re comfortable with the thought of who might move in next door. Covenants and Deed…

Kenyans are being duped into buying houses under the slum upgrading project in Mavoko, Machakos County, by unscrupulous individuals purporting to be the developers. In a notice on Friday, Housing Principal Secretary Charles Hinga warned that the fraudsters are selling the units illegally. The PS said those targetted in the project have already formed housing cooperatives to mobilise resources to buy the houses. “The target beneficiaries are requested to be patient as the government works out a suitable tenure arrangement and affordable values for the houses,” said Mr Hinga. The PS warned that the government would not be liable for any losses from illegal home purchases. The Sustainable Neighbourhood Programme in Mavoko is part of the government’s efforts to boost access to affordable housing in the Nairobi Metropolitan area. The Sh1.6 billion project features 463 two- and three-bedroom units constructed in three clusters. The units will sit on a 22-hectare piece of land. Similar government housing projects have in the past been a target by fraudsters, prying on Kenyans desperate to own a home.

I recently joined Friends of Heritage Trust Kenya (FoHTK) at the invitation of a friend. Heritage Trust Kenya is a registered trust dedicated to the conservation and restoration of old buildings and their surroundings which tell our shared history. Last month, during a tour of old houses in Kiambu and Limuru, organised by FoHTK, I came across a social media post by John James Glassford of Australia, showing pictures of a house in their old coffee shamba, where “he lived for 20 years working on the farm in between soccer, rally driving, and young ladies!” On closer scrutiny, I realised that I recognised the house as one belonging to my friends, the Kareithi family in Gatundu. Originally known as Ridge Estate, the farm was established by 2nd Lieutenant George Glassford, a New Zealander who came to Kenya in 1919. The following year, he was allocated more than 1,000 acres on Gatundu Road — current Kenyatta Road — under the Soldier Settlement Scheme on which he planted 300 acres of coffee with the attendant infrastructure. He revived interest in golf at Ruiru Golf Club in 1929 where he was a captain in 1930 and president of the club in 1940. In…

Homeowners at a low-cost State housing project in Nairobi have been left puzzled by plans to sell parking spaces in a move that would leave some of them with nowhere to park their vehicles. State-owned parastatal National Housing Corporation (NHC), which is managing the Affordable Housing Programme project on Park Road, announced on Tuesday that it was selling parking spaces at the project. But the residents said the government did not disclose parking was excluded from their home purchase deals. “I am one of the beneficiaries and they now want us to pay for parking yet we were not told of this when we were buying the houses,” one of the residents said. The project consists of 1,370 units, including one-, two- and three-bedroom houses that were sold for Sh1 million, Sh2 million and Sh3 million respectively. The NHC is selling 100 square metres-sized parking lots starting from the ground floor up the sixth floor for a reserve price of Sh850,000 per slot at the establishment where 60 percent of the houses were reserved for civil servants with the remaining 40 percent for ordinary Kenyans. It is also leasing 226 square-metre-sized open parking slots on the ground floor for Sh3,000…

A Nakuru man has lost ownership of a three-acre parcel of land he failed to utilize for 42 years. Environment and Lands Court Judge Mwangi Njoroge in a judgment delivered on January 17, ordered the land registrar to cancel the registration of the title deed in the name of Wilson Kimalel and issue title in the name of Peter Wachira. Wachira had in October 2020 sued Kimalel. He sought orders that he be declared the owner of the parcel of land through adverse possession having cultivated it continuously anduninterrupted for over 41 years. He urged the court to lift a restriction on the land registered on August 22, 2001, since the Land Disputes Tribunals were abolished. Wachira testified that the land he had possessed was registered under Kimalel’s name, but Kimalel has never disturbed him for over 42 years. He produced photographs as evidence of developments on the land and an extract of title proving the land was registered under Kimalel’s name. Wachira, however, claimed that his brother had purchased the land before. He stated that after subdivision, the title was issued in the name Kimalel instead of his brother’s. He added that a dispute had been registered with Bahati…

A report released this week indicates that Kenya has added 180 people to the class of dollar millionaires. According to data provided by the Wealth-X for the Knight Frank Wealth Report 2018, the number of people with US$5 million (approx. Ksh 500 million) in net assets rose to 1,290 in 2017, a 16.2% increase from 1,110 in 2016. Out of the 1,290 individuals, 90 are worth US$50 million ( Ksh 5 billion) or more. However, the number of those worth US$500 million (Ksh 50 billion) or more is less than 10. The report adds that Kenya’s dollar millionaires worth at least US$5 million is expected to grow by 60.5% over the next five years to 2,070 in 2022. It is every individual’s dream to become rich. Popular musician 50 Cent debuted in 2003 with an album titledGet rich or diè tryin. He was right. Though one does not necessary need to have US$50 million to be considered rich, it is still worth trying. But without the correct mindset and mentality, such a dream can only remain that – a dream. It is important for one to be focused and to strive to reach those goals not by just sitting down….

If you’re still looking for last-minute ideas for holiday presents, don’t forget about the gift of financial health. As the festive season kicks into full gear, it’s important to keep in mind how family and friends can support one another during the coming year. While money can be a tricky topic to discuss with your loved ones, you can show them you care with a gift that encourages their financial health and puts them on the path to managing money successfully. And you can’t start too soon: Parents can start talking to their kids about money early with the help of a good children’s book or educational toy. They can also start saving for their child’s future now by choosing the right savings account or investment vehicle. Depending on the child’s age, these types of gifts can open up conversations about money and create a fun and engaging way to learn about money. 1. Books and toys about money There are many books and toys that encourage a positiverelationship with money from an early age. These include toy cash registers, pretend money, kid-friendly check books, activity books or workbooks about money, board game involving money and piggy banks. Because children…