You have seen many plots for sale adverts. What do they have in common? It is not the emphasis on affordable pricing or sizes. They all emphasize the location, striving to showcase the hidden gems. Location! Location! Location!
It is stressed so much in any real estate consideration, and for many, it is ingrained deep in their minds. But what is the worry all about; is it that important or just another fad and marketing ploy used to skyrocket plots’ prices?
Let’s look at why you should consider location when buying land to help you make an informed decision.
It Can’t Change
Literally and figuratively, plots are set in stone. You can’t change its location. For example, you can’t buy a plot in Ruaka and, after a few years, relocate it to Kileleshwa.
It is one thing you will never change. You can purchase vacant land, develop it, and increase its value, but you can never change its location.
This is the primary reason you should pay extra attention to location when buying land.
Value
As an investor, such as buying for speculation purposes, the location can’t be emphasized enough. You are buying intending to sell at a profit soon.
The speculation could be informed by considerations such as planned developments in an area. Roads, electricity, water connectivity, or re-zoning, among other factors, can increase the value of the land.
It could double or even quadruple in months, and as you buy plots, establishing such value for your real estate investment is essential.
Determining potential and buying such plots could make you enormous profits, one of the reasons you need to consider the location.
Purpose
Why are you looking for plots for sale? Apart from speculation purposes, you could be considering plots for residential or commercial reasons.
This emphasizes the need to consider the location and ensure it fits its purpose. If you consider a plot to build residential property, you need a site that feels more like home.
Whether to develop or lease out to investors, commercial land requires potential. Among the consideration when considering the purpose of a plot includes:
Accessibility
Road network is a top check. You want a location you can quickly get to, and with well-developed transport infrastructure, you are assured of such accessibility.
As a home, you won’t have a hard time commuting to/from work, and school, among other areas. As a commercial undertaking, customers won’t struggle to get to the premises.
Infrastructure
Apart from roads, other concerns such as water, electricity, proximity to amenities like shopping centers, medical and financial services, and network connectivity also affect a plot.
It cannot feel like home if you have to incur high costs to get clean drinking water, can’t catch the news, or use your phone due to poor network coverage.
The development costs can be high for commercial uses, meaning the plot will hardly attract investors.
Security
Who are your neighbors, and what’s the crime rate in the area? Security, or lack thereof, can shape the value of a plot. If, for example, you buy plots in a banditry-infested area, you can hardly call it home or make anything out of it.
Living in fear, or developing it only to be destroyed, makes a plot worth little to nothing. People want to feel safe, and as you buy plots, considering the region’s security shouldn’t be discounted.
Whether you are looking for land to undertake agricultural activities, build a home, rent it out, or speculate higher prices soon, location is critical and must-check. It should be on top of your checklist.
