9 Factors to Consider When Looking for a New Apartment

Whether it’s your first rental experience or your last, finding the perfect apartment that fits both your lifestyle and budget is never easy. Before you sign that lease, keep these 10 very important considerations in mind while apartment hunting. The Price First and foremost, can you reasonably afford to live there? Before seriously considering an apartment, you need toseriously consideryour budget. Conduct a bit of online research to get a sense of the typical rental rates in the neighborhood. If you’re willing to pay a high price for a certain location, then you’ll need to find other ways to cut back on expenses. Or you may need to find roommates to help cover the costs. Also, keep in mind that if an apartment’s rent is unusually low (read: too good to be true) compared to other rentals in the area, then this may be a big red flag. Bottom line: make sure you know the market before looking at apartments and negotiating a price. The Quality Don’t trust those pretty pictures you see online. Before you rent an apartment, you should arrange to see the place in person. Keep in mind that cosmetic issues, such as broken blinds or scratches on…

6 Reasons Why Real Estate is the Best Investment

If you’re thinking about investing in real estate, you’re about to embark on one of the best investment journeys of your lifetime. Residential rentals offer benefits you won’t find with other types of investments. These benefits include: Cash Flow Unlike other investment vehicles, real estate investing enables you to generate cash flow every month by your tenants paying rent. You can then use this money to pay off your mortgage if you use financing to purchase your investment. Once the mortgage is paid off, the full cash amount goes directly into your pocket. If you used cash to buy your investment outright, you can use the monthly cash produced by your investment right away to fulfill your financial goals, create another stream of revenue, or re-invest it to build a powerful portfolio of multiple income-generating properties. Wealth Accumulation When you use leverage to purchase an investment property, you are essentially using “other people’s money” to build your wealth. Additionally, you don’t need to have a large initial investment if you pay in full cash, only around 20% for the down payment in comparison to the full price of the home. As the home appreciates over the years and tenants pay…

The importance of affordable housing in Kenya.

Affordable housing in Kenya is critical for several compelling reasons: Social StabilityAffordable housing fosters stable communities in Kenya by ensuring that a significant portion of the population has access to secure and comfortable homes. This stability, in turn, contributes to social cohesion and also community well-being. Economic GrowthAccessible housing options empower individuals to allocate more resources to education, healthcare, and also entrepreneurship. This, in the long run, enhances the overall economic productivity of the nation. Poverty AlleviationAffordable housing plays a pivotal role in poverty reduction by providing families with a foundation for improved living conditions in Kenya. Furthermore, when housing costs are manageable, households can allocate funds towards other essential needs, breaking the cycle of poverty. Urban DevelopmentAs urbanization accelerates, affordable housing becomes crucial for sustainable urban development. It addresses the challenge of housing the growing urban population while preventing the emergence of slums and informal settlements. Health and Well-beingAffordable housing directly impacts health outcomes. Adequate housing ensures better living conditions, reducing the prevalence of diseases associated with substandard living environments. This, in turn, leads to an overall improvement in public health. Government PrioritiesGovernments benefit from prioritizing affordable housing as it aligns with broader development goals. It reflects a commitment…

3 Common Moving Mistakes To Avoid

Not putting a plan in Place Seemingly small moves, like packing up a studio apartment to move just across town, can be nerve-racking and costly if they’re not well-planned. If you don’t plan, you’re planning to fail. You should start planning your move a few months before. Create a checklist of what needs to be done so that your move is smooth. Scheduling Last Minute Timing is everything. There are certain high and low seasons for moving companies. For example, if you’re moving close to a holiday moving companies may be busy so ensure that you book the movers well in advance. Even the day of the week you pick can affect your move. Higher demand means moving companies may charge higher prices for weekend truck rentals and moves. You might also want to consider the time of day you’re moving, too. Depending on the time, you might run into traffic, which could mean more minutes that your belongings will be in transit and potentially a higher bill (if you’re paying by the hour). Picking an Unknown Moving Company Researching moving companies can be critical. Choosing the wrong moving company may result in a move that is more expensive than…

Property rights: Caution necessary when deeding property to minor

Question: I bought properties a few years ago and registered them under my son who was a minor. I’d like to dispose of the property and invest, but now that he is an adult, he does not want to facilitate the transfer. How do I prevent my son from disinheriting me? Dear Reader, Given that the titles are already registered in your son’s name, the only way for you to prevent him from exercising ownership rights over the property is by attaining a court order, that either cancels the title registered in favour of your son or otherwise getting a court order which transfers the property to yourself or a third party of your choice. Before pursuing either of the two options, you should place a caution on the property (a notice registered in the lands registry that prohibits dealing with land due to a dispute on the property). The caution is necessary since if your son sells the property to a third party who buys the property at a fair value without notice of the dispute between you and your son, the buyer will acquire good title and you will lose the property. The caution thus protects you as…

A Guide to 5 Roof Types

A well-designed roof not only protects the house from the elements but also enhances its architectural appeal. The exterior of a home plays a crucial role in its overall aesthetics and functionality. Among the various elements that contribute to a house’s exterior, the roof stands out as an essential component. A well-designed roof not only protects the house from the elements but also enhances its architectural appeal. Here, we explore different roof types and discuss their unique characteristics, benefits, and considerations. 1. Gable roof: Gable roof/ photo courtesyThe gable roof is one of the most common and recognizable roof types. It features two sloping sides that meet at a central ridge, forming a triangular shape. This design allows for efficient water drainage and optimal interior space. Gable roofs are versatile, compatible with a wide range of architectural styles, and provide excellent ventilation. However, they may be vulnerable to high winds and require proper bracing to ensure stability. 2. Hip roof: Similar to the gable roof, the hip roof has slopes on all four sides that meet at a ridge. Unlike the gable roof, the ends of the hip roof slope downward, creating eaves on all sides. Hip roofs offer increased…

FACTORS THAT AFFECT CONSTRUCTION COSTS IN KENYA

Building your own home is one of the most rewarding tasks one can undertake. It requires excellent research, proper planning, budgeting, and execution of the laid out plan for the project to be successful. One needs to engage professionals to come up with a precise figure as to how much it would cost to build your dream home. To determine this, several factors should be considered such as house design, site location, fittings, specification of materials, floor to ceiling heights, and economic factors. House Design The shape and design of the house influence the total cost of construction. It affects the amount of material needed, the level of finishes, and the expertise required. This is where an architect comes in. They design and draw up the building plan, putting into consideration several things such as the topography of the land, which hugely affects the type of house you can build on the land. They then get the project approved once they have met all the building requirements. The style of the house also matters. Some people go for a modern style that is cheaper. It uses minimal decorative elements and an open floor plan that reduces cost. Traditional style home…