So ya' thinking of buying a diggs? Cool! We got you.
Heh. Just when you think adulting can’t get any more challenging than it already is. You realize that to get that ka perfect home with everything on your list checked out, you have to have some certain chums… First step is figuring out where you want to live and how much units cost in your ideal space. Then look at your savings and regular income as you visit your bank to find out how much you qualify for.
We all have certain expectations when it comes to the place we want to call home for the next few years if not forever. Literally, with not many options, we are spending a lot more time at home and it’s proper to invest in your ka personal space, no?
There’s a pal of admin’s who just got a toi and his Mrs. is dooooone with this monthly expense called rent. They are in it for the long haul and they’ve amuad to get a forever home for their growing family, in the future.
Moral of the story? Maybe it’s time you started thinking of that mortgage for your hao or even a ka plot for jengaing. Its never too early.. Imagine going to sleep every night knowing you don’t have to lipa rent at the end of the month? Must be nice, innit? Mimi nataka nijipange in the next few years juu kusema ukweli, I am tired of paying rent.
So, what factors do you have to consider about that crib before committing 100%? Admin schooled himself and I’m here to give ya’ll some info on this as well…
Location
There’s a number of things to take into consideration when it comes to this. Is it close to amenities like school for the tois? Your commute to jobo? Hospitals… You get the drift. You should make sure you’re moving into a neighborhood that you and your fam (if any) will be comfortable in and can stay in long term.
Build or buy
Now, there’s pros and cons for both here. Kununua nyumba hiana stress. Easy peasy stuff. Building also has its perks, like you can let your preferences come into play here and also, it might be cheaper. Just weigh your options and see what best suits your needs.
Choose your bank wisely
Imagine kugongwa na sio tu kugongwa, kugongwa in the millions. Severe chest pains, heh. This may seem cliché lakini, yo! These things happen. And as per usual, KCBae got you. Not only will we provide bomb insight but we have a whoooole list of really dope properties you can invest in, which are totally credible.
Monthly payments
You need to think about your monthly costs and how much you will put into it. Not just for the sake of a mortgage payment (which is of importance BTW) lakini pia things like property tax, utility, maintenance especially if you have a compound that needs maintenance, and generally your long-term financial commitment, coz that’s what a mortgage is… Your costs every month have to make sense so you don’t umia down the road.
Closing costs
This is the fee you pay when you close on your house, after the down payment. They can catch you by surprise and you defo don’t want to feel blindsided after going through the process of purchasing your dream home. You should budget for about 7-9% of the actual property costs to cover legal, transfer, stamp duty, valuation & negotiation costs.
Next month we will fill you in on buying affordable diggs. Starting small is exciting and helps you as you make your way up to your own MTV-style crib. Usikose. Meanwhile pitia Property Center at Kencom on Moi Ave for the widest listing of affordable haos. Peep more deets here.
Over & Out,
The Witty Banker.