Real estate is one of the most attractive investment classes because it offers high and consistent returns and it is inflation proof. Furthermore, it is one of the few assets that is more likely to appreciate than not.
Aside from that, people are drawn to it by the fact that it’s a tangible investment – whether its land, apartments or office space, you can see and touch your source of wealth. Unsurprisingly, the true measure of success, as far as many old-school Africans are concerned, is owning land or building something.
Currently, the most accessible way to invest in real estate is to buy off-plan because you do not have to massive amounts of money in order to do it and the returns are substantial. However, it is one of the riskier options because essentially, you are buying into a dream and you have to trust a developer to make it happen.
Since you want to ensure you do not lose your capital, due diligence is a must. Here is the Centum Real estate promise to you.
Here are a few questions you might ask:
Can you trust your developer? Yes you can trust Centum RE
Real estate is currently booming in the country and there are thousands of developers out there. You are literally spoilt for choice. The largest temptation would be to go with the one that offers you the flashiest deal. It could be ridiculously low prices, unrealistic project timelines or unbelievable returns. Whatever it is, do not be sucked in by the hype.
Do some digging about the developer. What is their track record? Have they delivered other projects before? What do their clients have to say? If, in the course of your research, you find any alarming signs, then it is probably a good idea to stay away. Remember, off-plan investments are based on trust. Choose a partner like Centum RE you can trust us.
Is the construction site real?We delivered Two rivers lifestyle city
You might want to visit the proposed construction site from time to time, before you invest and during the length of the project. This will reassure you that it is a real development and the building is proceeding according to schedule.
With the current real estate craze, there have been several cases where investors have sent large amounts of money to a developer and then found out too late that it was a phantom project. You do not want this to happen to you. If, for some reason you cannot go yourself, get someone you trust to do it for you.
What other teams are involved?
Legitimate developers like Centum RE will be very open about the teams they are working with in order to complete the project. This includes the head contractor, architect and suppliers. It is worth going through their profiles to get a sense of the kind of experience they have.
It would be even better if you were able to verify their qualifications and certifications. Do they have a good track record? If you are unable to find any trace of them, it could be a red flag.
Are you getting regular updates? We guarantee you this
It should concern you if your developer is not forthcoming with information, especially after you have begun to make payments. This does not necessarily mean being kept posted daily – monthly or quarterly will do – but if you feel you have to jump through hoops to get any updates, you just might be in trouble. Of course, if you were picky about the developer, this is not a problem you are likely to face.
Does the amount make sense?
Picture this: a developer advertises a new project in a very exclusive area and they are selling for only half of what others are offering, but for a limited time only. You should rush and pour your money into it, right?
Many developers will offer discounts to try and remain competitive, but if the deal seems too good to be true, approach it with plenty of scepticism and caution. Question their financial model. How is it that they are able to sell for so low and still make a profit?
Don’t just rely on their explanation; ask an expert or two. Just make sure it isn’t anyone who is affiliated with your developer. If it doesn’t make sense, avoid it at all costs.
Are you on schedule and/or budget?
Developments have been known to experience delays or go over budget, but only to a certain degree. If construction unexpectedly stalls for months on end, or you suddenly have to pay much more, it could be a sign of trouble. To avoid this happening, be very keen on all communications you receive from your investment partner.
Basically, due diligence demands that you be proactive. You cannot just sit back and passively wait for your investment to bear fruit. Of course, if you choose the right developer like Centum RE, you will have fewer sleepless nights because you are reassured that your money is growing safely.
Welcome to Centum Real Estate, a trusted real estate developer that provides top quality real estate solutions within the specified timelines. With projects based in Kenya and Uganda, Centum Real Estate is keen on providing clients with all they need in a home; convenience, security, comfort and reliability.
Partner with the trusted developer in Kenya’s real estate market, partner with Centum Real Estate by reaching out to them on the below contacts.