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7 Ways to Save Money When Buying Your Next Home in Kenya

7 Ways to Save Money When Buying Your Next Home in Kenya

Buying a home is a major milestone that everyone wants to achieve in their lifetime. It is a lifetime investment that demands a considerable amount of financial resources. Unfortunately, many home buyers in Kenya make poor decisions that lead to overpaying or ending up with the wrong property. Therefore, it is crucial to know how to navigate the real estate market in Kenya and secure a dream home that suits your budget and preferences. Here are seven ways to save money when buying your next home in Kenya.

1. Have a clear understanding of your finances

The first step to saving money when purchasing a property in Kenya is understanding your finances clearly. You need to know your purchasing power by determining how much you qualify for based on your income, credit score, and other expenses. Once you clearly understand your finances, you can set a realistic budget and stick to it throughout the buying process.

To determine your budget, you can work with a mortgage broker or real estate agent to advise you on the best options. Also, you can use online mortgage calculators to help you estimate your monthly payments based on various factors such as interest rates, loan terms, and down payments.

2. Choose the right location

The location of the property you want to buy significantly affects the cost of the property and its future value. Therefore, choosing the right location can save you considerable money. When selecting the location, you must consider factors such as proximity to schools, hospitals, and other amenities, security, accessibility, and the potential for growth.

In Kenya, different locations have high property values and others that have lower values. For instance, properties in Nairobi’s central business district (CBD) and other affluent areas, such as Karen, Lavington, and Runda, are more expensive than those in other areas, such as Kitengela, Ngong, and Ruaka. Therefore, choosing the right location can save you considerable money.

3. Research the market

Before buying a property in Kenya, it is essential to research the real estate market to know the current trends and prices. You can start by looking at the prices of similar properties in the exact location to give you an idea of what to expect when negotiating with sellers. Also, research the property’s history and the seller’s to determine if any issues might affect the property’s value.

Researching the market also means being patient and not rushing to purchase the first property that comes your way. Take your time to compare different properties and only settle for the one that meets your needs and budget. This way, you can save money by avoiding overpriced properties that do not meet your preferences.

4. Consider buying off-plan

Buying off-plan property in Kenya can save you a considerable amount of money. Off-plan properties refer to properties that are under construction or yet to be constructed. When purchasing off-plan, you can secure a property at a discount compared to when it’s fully constructed. This discount is because developers usually need buyers to pay the construction cost in advance to fund their projects.

However, buying off-plan properties comes with risks. For instance, the developer may delay the completion time or deliver a unit different from what you expected. Therefore, it is crucial to thoroughly research the developer and the project before committing.

5. Negotiate

Negotiation is a crucial skill when buying a property in Kenya. Negotiating a lower price or favorable terms can save you money. During the negotiation process, you need to remain calm and confident. Start by offering a price lower than the seller is asking for and explain your reasons. Then, if the seller agrees, you can work out the finer details of the sale.

When negotiating, it’s also essential to consider other expenses, such as legal fees and taxes. You can ask the seller to share or factor these costs into the final price. This way, you can save a considerable amount of money.

6. Buy at the right time

The timing of buying a property in Kenya can also affect the amount of money you will spend. The best time to buy is when the demand for properties is low. For instance, during the pandemic, many people lost their income or were afraid to invest in real estate, which led to low demand. As a result, property prices in some areas decreased significantly, making it a good time to purchase a property.

Alternatively, consider buying during off-peak seasons to get better prices. For instance, buying a property towards the end of the year can save you money since only some people are buying during this period.

7. Use reputable real estate agents

When buying a property in Kenya, it’s advisable to use a reputable real estate agent to guide you through the process and help save you money. A good agent can save money by negotiating for a lower price, helping with repairs, and suggesting homes that fit your budget and preferences. Realtors also have a wealth of knowledge regarding the housing market, housing trends, and local laws, ensuring you get the best advice possible. Therefore, it is essential to research and choose an agent you can trust.


buying a home is a significant investment, and there are many ways to save money without compromising quality. You can save thousands of dollars on your next home by researching, looking for the right location, and working with a reputable real estate agent. Remember, the key is to stay flexible and patient and never compromise on your wants. Good luck!

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