Without doubt, buying an apartment is one of the key financial investments in an individual’s life. As per the human tendency, buyers are usually caught up with the aesthetics of the property, which often distracts the buyers from taking into account the actual points that matter while looking to buy an apartment in Kenya. Ideally, such undertakings should be performed with utmost care. So, without any further ado, let us discuss ten things to be mindful of before you buy an apartment in Kenya in 2021.

What is an Apartment?

An apartment is an individually-owned housing unit in a building. The owners jointly own shared luxury facilities such as pools, garages, gyms, backup generators, etc. Apartments are usually found in high-rise buildings, but you can find detached ones in some markets. These sorts of housing can be rented or owned by individuals.

Why Buy an Apartment?

For some prospective home buyers, buying an apartment can be the start of homeownership. With an apartment, like Everest Park apartments in Athi river, you only have to take care of the interior. All the rest is handled by a professional management company, Everest Limited, and you won’t have to clean the building nor bother about major maintenances.

When you own one of these housing units, you can expect a community life that single-family homes don’t often provide. With apartments, it is a lot easier to pursue travel with peace of mind. This is because once you lock your door, everything will be taken care of. Therefore, lower-maintenance living is one advantage of an apartment.

Factors to Consider Before Buying an Apartment

Get to Know the Developer

You may not have the proficiency to check the technicalities when it comes to building construction; that said, there is one way out through which you can have a know-how of the fitness of the building. You can have a look at other properties by the same developer.

If other properties have a high rating from the buyers, then this is a clear indication that the current property also maintains the same quality levels. Finally, try to comprehend the financial model used by the developer during construction. This will prove beneficial in reducing the risk involved in buying apartments for sale in Kenya.

Get to know more about Everest Limited

Location

Convenience is one of the key elements that make a house a home. Especially when you age, you are acquainted with the fact that convenience is one of the key elements to being comfortable. Your apartment should be in close proximity to –

• Highway
• Shopping Centre.
• Airport
• Petrol Stations.

The location also bears great significance in case you are interested in reselling the property in the later stages. Travel and commuting costs should be considered to places that your life revolves around.

Everest Park Athi-river is conveniently located right along Mombasa road at the proximity of the above mentioned amenities.

Return on Investment

While buying an apartment for sale in Kenya, where to invest is one of the key things you have to contemplate. ROI can be defined as the amount of time it will take for you to get back the amount you have invested in buying an apartment. In case you have purchased for rental purpose, in that case, a return on investment is calculated on how long it will take to get your money back.

If you are purchasing for reselling, it is imperative you have to ensure that the future price will be high as compared to the purchase price. This should be done to make the ROI positive.

In case you are buying to live in, there is a possibility that you may find the purchased property not suitable as per your future requirements. You may become richer, or your family size may get bigger, chances are you may need to migrate to some new location or country. Keeping all these factors in mind, you need to ensure that when you resell the property, you can have a higher price as compared to the purchasing price.

Also read - investing in everest park yields you the highest returns

Easy Access to Social Amenities

If you have easy access to communal facilities, you end up making your life more convenient and hassle-free. If you can access to borehole and county council water as a backup, then this will undoubtedly come in handy.

The potential property should have an apt connection to the electricity, and if there is a backup generator, then it will be an added boon. The backup generator will ensure that it powers the lighting in your apartment.

If you have kids, finding a reputed school near your apartment is a task in itself. Therefore, make sure you have the best schools located near your apartment. More so than anything else, you must ensure that you have a hospital, gym, and other convenient stores near your apartment.

Neighborhood

When you buy a new apartment, the life around you will influence your home experience. It is advisable that you should gain holistic information about the area beforehand. While you are making yourself acquainted about the area, make sure to keep a check on congestion and the security aspect. If the surrounding area is secured and less congested, then you are bound to enjoy a quality life.

Look for leafy and green suburbs near your apartment as it tends to offer more comfort than the noisy city areas. You can also check what type of business is going around you that may affect your family life. When you check your neighborhood, make a point to get familiar with the average pricing of the properties around you.

Also read - the new haven for real estate investment

Conclusion

If you are thinking about buying real estate, an apartment is a type of housing that you should consider. An apartment is a suitable choice for a first-time homeowner, someone who spends time travelling, anyone who would rather not bother about maintenance, and so on. Most apartments are strategically located. Hence, not only would you have amenities within the building environment, but you could be within walking distance of public transportation, malls, and other important facilities. Consult with a real estate professional who specializes in apartments to guide you in your home search.