Times are changing, the economy is evolving, and there is no better time for young people to start their investment journey than now. In as much as the youth try to keep up with the latest trends, it is important to think about the future and explore ways of securing it. There are different investment ventures to choose from that can help you plan for a more comfortable life in the coming years, one of them is investing in real estate. It is never too early to own your home or a parcel of land.Here is what you will enjoy as a young person in your 20s if you started your investment journey now:
A Secure Future
It can never be too early to start planning and preparing for your future. When you were a child, your parents or guardians had already started investing in your future by ensuring that you got an education. This same principle applies to you if you opt to invest your finances in the real estate sector. Investing early helps you secure your future and gives you the confidence that you will have a comfortable and peaceful life ahead. Investing with real estate developers like Safaricom Investment Cooperative who sell parcels of land such as the Brookvale Tuala in Ongata Rongai or homes like The Miran Residence offers you the opportunity to acquire land or a home that will serve you for life. This is especially such an exciting venture to explore when you are young to enjoy the benefits longer.
Are you tired of living paycheck to paycheck and feeling like your financial goals are out of reach? Building wealth in real estate may be the solution that you have been searching for. With the right strategies, anyone can create a path to financial freedom through investing in real estate. Investing in real estate is one of the ways you can use to multiply your financial streams. Real estate investments are a good way to make money and build long time wealth. You can acquire a parcel of land like the Zaria Village or a house in The Miran Residence which you can rent out making your investment serve you financially. Real estate is a proven method for long-term wealth generation.
Building your Investment Portfolio
One of the best reasons to start investing in your 20s is because the longer you own a property, the more valuable it becomes. By strategically investing, you generate passive income and build an appreciating portfolio. The sooner you start investing, the more time you have to earn money and build your investment portfolio. Real estate adds diversity to your investment portfolio, mitigating risks and creating balance.
In the hierarchy of human needs, security is one of the core elements, not only physical but emotional and financial as well. Regardless of your age and status, everyone needs security. Investing early helps in providing you with the financial security you need. It helps you have assets that will serve you when times are tough. You can sell that parcel or even rent out that house to help meet your needs. Moreover, when you are ready to start a family, you have a home to take your family to without having to think of rent.’
When you start investing in real estate in your 20s, you are training yourself on how to be responsible. Since you might have just started working, choosing to invest in real estate is a good lesson on how to handle your finances as you might be required to save to purchase that asset. You might also be required to take out mortgage loans which opens your mind to the financial literacy world. Putting your money into the correct ventures when young, helps you view money not as something to be used and forgotten but as a resource that can be used to serve your needs continuously. That land or home that you buy is evidence of your ability to organize your finances to serve you.
One of the best decisions you could make as a young person in their 20s is investing and investing with the right company. To invest with a trusted real estate developer, reach out to Safaricom Investment Co-operative and start your journey today.
You have purchased your new home and now it is time to move in. Moving into your new home and having a new living space can be such an exciting moment, and therefore it is important to ensure that you do your best to ensure that your children are always safe while at home.
Accidents are most of the time unpredicted, and with our curious little explorers, chances of being involved in one accident or the other are high while playing around the home. It is not always possible to be there with them to supervise all their movements in order to keep them from harm or being hurt. This is why it is important to create a completely safe environment where they can be free to explore with minimal risks. If you are wondering how to do that, here are some useful tips.
Childproof your home
Identify any potential hazards in your new home and make the necessary adjustments. Install safety gates both at the top and bottom of the staircase to control your children’s access to the stairs. Use plug protectors for all the unused electrical outlets and secure heavy furniture to the walls to help guarantee your children’s safety. Most importantly keep any dangerous substances such as cleaning detergents out of their reach.
Secure the windows and doors
Ensure that you install child proof locks on all the windows and doors, especially windows that are accessible to the children. If you have to open the windows, ensure you use window stops when opening them. This will prevent the children from opening the windows wide enough to pass through which might be dangerous. As a safety precaution, you could also install childproof locks on all the doors leading outside the house.
Install smoke and fire alarm systems
You can never be too careful with your child at home. Install fire and smoke alarms in all the rooms in the house and have them checked regularly for efficiency. This will help warn you in case of a fire outbreak which gives you time to not only save your child but your home as well. Also, keep flammable materials out of reach including lighters, matches, stovetop burners, and hot appliances. Aside from installing these systems, also ensure that your older children are trained on how to use and manage fire and smoke systems and equipment at home.
Install home security monitors
When choosing your home, consider an area with a security system set in place, but you could also add additional security cameras in the house that will help you monitor your children’s movements. This will enable you to know when your child is in trouble and help you react faster to avoid fatal home accidents.
Home ownership is an exciting journey but an even more exhilarating experience when you are assured of the safety of your children, invest with Safaricom Investment Cooperative to find a home that is suitable for you and your family. To invest, visit the Safaricom Investment Co-operative website: https://sic.co.ke/
You have finally concluded your search for a new home, whether by building or buying, and you are now in the exciting part of moving in, congratulations!
In this new phase of your life, you might be wondering what is needed of you and how you can ensure that your new home maintains good standards while ensuring that you are pleased with your investment decision.
Below are some tips that can help you as a new homeowner enjoy your investment.
Set Up a Home Upgrade Budget
As you start your home ownership journey, it is wise to set aside a fraction of your money for unexpected upgrades, changes or sometimes repairs. Setting up a home upgrade fund helps you avoid making a big dent in your budget if a huge upgrade needs crop up. For quality investments in homes like The Miran Residence, this stash of cash may be redirected to things like service charges or even decorating and furnishing your new home.
Personalize Your Home One Step at a Time
Getting a new home is a huge investment that takes a lot of effort especially financially. It is okay to take personalization of your living space with, for example, lighting and décor needs, one step at a time. This helps you have time to recover both financially and mentally which will help you choose the best items for your new home without having to consider a tight budget. Give yourself time to adjust to homeownership’s expenses and rebuild your savings; the cabinets and furniture will still be waiting for you when you can comfortably afford them.
Get to Know Your Neighbourhood
Moving to a new neighbourhood can be intimidating, however, you ought not to worry. Take it one step at a time and explore your surroundings. Get to know where you can get your essentials nearby and understand the environment you have moved into, which will improve your chances of fitting in and enjoying your new phase of life. Get to know the people who live around you. No man is an island, and your neighbour might be just what you need to start enjoying the neighbourhood. They will be one of the first people to come in and aid in case of trouble. Knowing your neighbours also provides you with a sense of community and helps you develop meaningful connections. It is also important to get contacts of key suppliers such as electricians and plumbers.
Never Ignore Crucial Maintenance
Home ownership requires you to carry out maintenance of your home yourself since you are your own landlord therefore you should not neglect any problem that puts you in danger or could worsen over time. Delayed action can turn a relatively small problem into a much larger and costlier one. Safaricom Investment Cooperative sees to it that your home is fully inspected before you move in and is as per world-class standards. For instance, The Miran Residence in Ruaka, is a modern world class residence being built using quality materials that will protect you against potential maintenance issues.
If you are looking to purchase a house, Safaricom Investment Cooperative provides you with quality homes that you can be proud of. To see some of their housing projects, visit the SIC website: https://sic.co.ke/house-projects
A home is more than just a structure. It is a source of financial and emotional stability and an investment in one’s future that needs careful consideration. Before purchasing a home, it is important to ask yourself the right questions that will ensure you make the right investment that meets your needs.
Do you wish to own your own house but are unsure where to begin? Here are a few questions to ask yourself as a first-time home buyer.
Which type of property do I want to invest in?
There are always two options available when purchasing a home: on-plan or off-plan. An on-plan property is an already built property that is ready for occupancy. These types of properties provide you with the convenience of being able to move in as soon as possible. On the other hand, buyers who are willing to wait until the building is finished, and those on a tight budget will benefit more from off-plan properties. In comparison to a complete unit, off-plan properties are usually sold at a cheaper price. Off-plan properties are housing developments that are still in the planning stages; you pay as the residences are constructed. This gives you the option to pay in instalments over a longer period of time and gives you the chance to pick the architectural design and paint colour you want for your home as it is being built, provided that it complies with the developer’s requirements.
What is my budget?
A great strategy that you should use when looking to buy a home is to find the most affordable house that is within your budget, and in the best neighborhood. Knowing how much money you are willing to spend on a home will help you choose the best neighborhood and deals that will not leave you struggling to complete your payments. Being part of an investment co-operative like Safaricom Investment Co-operative that invests in real estate comes in handy as they provide you with affordable home deals that may fall within your budget.
Can I get a mortgage or a home loan?
If you do not currently have the money, mortgages and home loans are great strategies for helping you realize your dream of owning a home. It is necessary to know how much you can borrow before choosing the home to buy. Make sure, if you are buying using a mortgage loan, that you are aware of the maximum size mortgage that your financier will approve. Mortgage is reliant on factors such as the size of your income and the house deposit, more importantly, understand the repayment plan, which is also determined by one’s age and the prevailing interest rates.
Is the real estate developer trustworthy?
Choose a developer that has a reputation for high-quality projects and one that keeps their word on how long their projects take to complete. It is also important to find out how well the developer does maintenance and finishes. Look at their previous projects to ascertain if they have been serving their investors well by maintaining high standard developments. Search for any recent or old news about them and if there have been changes thereafter to ascertain their reliability. This will save you the frustration that accompanies having a sub-standard developer. Safaricom Investment Cooperative is a trustworthy and dependable developer that will help you realize your dream of owning a high-quality property.
When purchasing a home for the first time, it is wise to get as much information as possible about the process and engage experts in the field so that you are better informed and prepared to handle challenges that may arise. This also helps you be more confident in the decision you are about to make.
If you are looking to buy a high quality and affordable home, Safaricom Investment Co-operative provides you with just what you need. To find out more about their properties, visit https://www.sic.co.ke/house-projects
Are you looking to invest in real estate or even find a suitable affordable home for your family but don’t have all the money upfront? Well, off-plan purchasing is an option that has worked for many people and can work for you too. Off-plan purchasing means investing in a property just before the developer break grounds or at the beginning of construction. Developers give would-be off-plan purchasers very good deals to entice them to put in money that helps the developer finance the construction. The purchaser will then pay in instalments through the period of construction, which, in most cases, takes two to three years.
Here are some factors to consider before you commit to purchasing a property off-plan:
Check the credibility of the developer
Researching the background of the developer is important as it shows you how long they have been in the business, their track record and the projects they have undertaken including their success rate. A company with a good track record is worth investing in.
With Safaricom Investment Cooperative, you are assured that you are investing with a trustworthy and credible developer with a track record of more than five completed housing projects including Bluebells apartments in Syokimau, Ruaka Ridge, Rongai Royal Villas in Rongai, Kantafu Serene Homes in Kantafu and Kitisuru Villas.
Foundation works for phase 1 of the Miran Residence.
Conduct a background check on the teams involved in the project
Investigate the credibility of the members of the team. The typical professionals in the developer’s team would include the quantity surveyors, structural engineers, the architect, project managers among others who all have key roles to play. Find out how long they have been in the business, their history, their reputation, and the success rate of the previous projects that they have been involved in. If possible, you can check if they are members of their various professional bodies.
Fully understand the sale agreement before signing
The sale agreement is a legally binding document that requires a thorough review and the presence of a lawyer, if possible, to help with the legalities. It stipulates all the terms and conditions of the transaction, the initial payment deposit, the detailed specific dates on repayment options and the duration of the project. Ensure that the agreement you are signing exhaustively addresses key issues on insurance, completion, delivery, insolvency of the developer and termination. In case of any questions or clarifications, your lawyer will discuss them with the developer’s lawyer to address them.
Location of the project
When deciding to purchase your off-plan property, it is key to consider the location of the property and the surrounding properties. Analyze whether it is suitable for you and your family, or if it is an area with high rental yield, for those looking to purchase homes for renting out. A prime location ensures that there is a high probability that the property will increase in value.
When going for off-plan property, planning, researching, consulting, and inspecting are paramount. Planning your resources helps you meet payment deadlines. Researching more about the developer and consulting is important in ensuring you have chosen a valuable project. During the construction period, regularly check the progress of the project and let the developer address any concerns you may have. Most importantly, conduct your due diligence by inspecting the land title deed, as well as the project plan approvals.
Visit https://sic.co.ke/housing-projects/project/the-miran-residence to get an affordable off-plan property provided by a credible developer.