Is there a better feeling other than knowing that you will be retiring in your own home? Nobody wishes to retire and they are still paying rent every end month. Whether you buy land and build or buy a house, that would be considered as smart financial move. That would however require you to consider some important factors such as your ideal location for you home and affordability of the property. Here are some reasons why investing in a home in Kenya before retirement might be beneficial.
1. Stability and security: Having a place to call your own provides stability and security, especially in retirement when your income might be fixed. You won’t have to worry about rent increase, eviction notice, sale of the property and numerous calls from the landlord. It gives you peace of mind during retirement since you have full control over your living situation.
2. Asset appreciation: Real estate has historically appreciated in value over the long term. By owning a home, you may benefit from potential appreciation, which can increase your overall net worth and provide a valuable asset for retirement.
3. Rental Income Potential: If you’re not planning to occupy the property immediately, you can consider renting it out to generate rental income. Kenya’s rental market, especially in urban areas like Nairobi can be lucrative due to high demand for housing. Areas such as Diani and Malindi also have great potential on return in business because you can make your home an Airbnb or cottage and earn huge profits from the tourists at the coast. That is why we got you covered with our beach plots in Malindi and Diani with from as low as Ksh. 850,000 for an 1/8 acre with 100% guarantee return on investment. Rental income can supplement your retirement savings and provide a steady source of cash flow during retirement.
4. It is easier to get mortgaging: If you’re planning on retiring soon, it might be easier for you to secure a mortgage by purchasing your retirement home before you retire. This is because lenders typically look at income when evaluating an applicant’s ability to repay the loan. If you purchase your retirement home before retiring, you’ll still have a steady income and may be able to qualify for a larger mortgage.
5. Retirement Lifestyle: Investing in a home in Kenya before retirement allows you to plan for your desired retirement lifestyle. Whether you envision yourself living in a bustling city such as Joska in Nairobi, at the coast such as Diani and Malindi, or in a serene countryside setting, you can choose a property that aligns with your retirement goals and preferences. Imagine a retirement lifestyle of waking up and having a morning run along the beach while catching the breeze. That would be amazing and that is why we got you covered with our Diani and Malindi beach plots from as low as Ksh.1.7M for an 1/8 acre and villas from as low as Ksh.5.45M for a three bedroom villa.
6. It is a hedge Against Inflation: owning a home before retirement can serve as a hedge against inflation. This is because property value and rental income tend to increase over time along with the cost of living. Owning a home can help protect your purchasing power in retirement since the price you buy a home at today will not be the same price you will buy in a few years to come, it will be more costly.
Homeownership also brings emotional and psychological benefits, such as a sense of pride, belonging, and community. These intangible benefits can contribute to overall well-being and happiness in retirement.
If you are looking for affordable land in Kenya or some prime properties in Kenya then you are on the right page because we do not only offer affordability, but also value for your money since you get prime properties with great potential. For more information on how to start your home ownership journey, chat with us, Gateway Homes Limited via +254 708 444 777 or email us at sales@gatewayhomes.co.ke
