WHAT TO CONSIDER WHEN BUYING A HOME FOR THE FIRST TIME

Buying a house does not have to be a stressful process, especially if it is your first home. This is a comprehensive guide to navigating the home-buying process.

Owning a home is a significant accomplishment, especially given that most people must save for a down payment over many years. Most people already have a family when they are ready to buy a house, so they must consider their family’s needs when purchasing a home.

If the budget is an issue, you must also consider the necessary compromises. However, because buying a home is expensive, you must make sure you get it right the first time so you do not have regrets after moving into your new home.

Don’t worry; this is a beginner’s guide to buying a home.

What Factors Should I Consider When Choosing a Location for My First Home?

While location is the most reflected factor when buying a house, you must also consider other factors when buying your first home. Below is a home-buying checklist for beginners.

i) Amenities and Facilities

Accessing your neighborhood is important as you need to ensure you can maintain, if not improve, your quality of life. Consider the security, entertainment, parks, recreational facilities, and other amenities that you would want to be able to use. 

Buying a home is a huge investment, and you owe it to yourself to ensure you get some amenities that will play a key role in enhancing your living experience.

ii) Accessibility

It is important to assess the proximity of your new home to amenities such as your children’s school, hospital or medical clinic, supermarkets, malls, and main roads. If you do not own a car, ensure you can access public transport for convenient commuting.

iii) Property Type and Size

Start by deciding whether to buy an apartment, a detached mansion, or a stand-alone mansion. Then, list all the essential factors and a must-have in your house. These should include the number of bedrooms and bathrooms, kitchen size, yard size, or balcony size for apartments, etc.

If you are still planning to expand your family, ensure you consider this. Also, consider parking space and other factors essential for your day-to-day living, such as a dining room, pantry, laundry area, study room, home office, and so on.

Create a checklist of your must-have features. You can use it to evaluate listings once you start looking at houses to avoid getting overwhelmed when viewing listings.

iv) Budget and Affordability

As a first-time home buyer, you are on the side of caution when shopping for a house. Do not use all your savings to buy a house. Set aside money for emergencies and impromptu repairs. The last thing you want is to live in a house with issues because you cannot afford to pay for repairs.

You may also incur extra expenses, such as increased utilities and installation costs. Ensure you can pay for these unexpected expenses as well.

If need be, consult a financial advisor to determine the right path financially when buying your first home.

When it comes to real estate in Kenya, there are several legal considerations that buyers and sellers should keep in mind. It is important to be aware of the following key aspects:

1. Land Ownership: The Kenyan Constitution recognizes different forms of land ownership, such as freehold, leasehold, and community land. Before engaging in any transaction, it is crucial to verify the seller’s legal ownership of the land by examining the title deed.
2. Title Search: Conducting a thorough title search is essential to validate the authenticity and legitimacy of the title deed. This search should be performed at the appropriate Land Registry to identify any encumbrances, caveats, or disputes associated with the property.
3. Contracts: All real estate transactions in Kenya must be documented through written contracts. These contracts should clearly outline the terms and conditions of the sale. Seeking legal advice is recommended to ensure that the contract covers all pertinent details, including the parties involved, property description, purchase price, payment terms, and any additional agreements.
4. Stamp Duty: Stamp duty, a tax levied on various legal documents like land transfers and lease agreements, is applicable in Kenya. Understanding the relevant stamp duty rates and ensuring proper payment and documentation is crucial to avoid legal complications.
5. Land Control Boards: In specific areas known as “controlled areas,” non-residents must obtain approval from the local Land Control Board before purchasing land. This requirement aims to safeguard the interests of the local community. It is important to determine if the property falls within a controlled area and comply with the necessary procedures if applicable.
6. Zoning and Planning Regulations: Familiarizing yourself with zoning and planning regulations specific to the location is essential for real estate development. Different areas may impose restrictions on land use, building heights, and density, among other factors. Complying with these regulations is crucial to prevent potential legal and financial consequences.
7. Property Taxes: Property owners in Kenya are subject to property taxes, typically administered by the county government. Understanding the applicable tax obligations and ensuring timely payment is necessary to avoid penalties.
8. Dispute Resolution: In case of any disputes arising from real estate transactions, parties can seek resolution through negotiation, mediation, or arbitration. Engaging the services of a qualified legal professional can help effectively navigate such disputes.

To ensure compliance with Kenyan laws and regulations and safeguard your interests during real estate transactions in Kenya, it is highly recommended to consult with a knowledgeable legal professional or real estate expert.

ALSO READ: IS PURCHASING A HOUSE DRIVEN MORE BY EMOTION THAN LOGIC?

What Are the Essential Steps in Buying a Home for The First Time?

Now that you have decided what you want, you must start shopping for a house. These are the key steps to buy your first house;

• Locate the desired apartment and perform due diligence, confirming the legitimacy of the title and that all property rates are up-to-date.
• Engage a property lawyer to carry out a title search and prepare a sale agreement upon satisfaction of the property’s legal status.
• Payment of a deposit as per the agreement, and lodging of the necessary documents with the Lands Office for the payment of stamp duty.
• Upon completion of payments, transfer of property documents are executed, and the lawyer files them with the Lands Registry for the change of ownership.
• The procedure culminates with the issuance of a new title deed or certificate of lease to the new apartment owner.

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What Should First-Time Homebuyers Know about the Home-Buying Process?

You should also ensure the seller gives you all the legal documentation to authenticate the sale. You should also pay via a verifiable payment method that leaves a paper trail. Refrain from paying cash for your home because you cannot prove you paid for the house.

Lastly, do a walk-through before the handover to ensure the house is maintained if that was part of the deal when you were buying the house. For new houses, ensure the house is completed as the developer states

Nairobi, Kenya, boasts a tapestry of distinctive neighborhoods, each exuding its own charm and lifestyle. Among these, Kilimani, Kileleshwa, Lavington, Westlands and Mombasa Road stand out as some of the city’s premier residential estates, offering a blend of modernity, convenience, and a vibrant community atmosphere.