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Offplan Development is the Way to Go for Homeowners

Kimani Patrick

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Often called the cornerstone of everyone’s dream, home ownership is an important milestone of adulthood. The desire to become a homeowner, purchasing a property, is “a vital component” in our lives.

First-time homeowners, especially millennials find it expensive or rather unaffordable to acquire a mortgage or even buy a home in a single installment. However, the emergence of off-plan developments has made it easy for one to fulfill this dream. Now is the best time ever to fulfill that dream and begin to build equity.

Buying a house off plan presents an almost irresistible allure to investors and prospective homeowners, and has had a growing popularity due to the convenience it offers. The allure is driven by the promise made by property developers, to provide housing that is both ‘affordable’, flexible and ‘pocket-friendly’ for potential buyers, where the prices are much lower than the prices at the prevailing market rates.

This method of home investment is the purchase of property before completion, which is driven by the high prices prevalent within the real estate market and the time that developers take to deliver upon housing units. The property is therefore bought off the plan or at the design stage.

As a purchasing trend, aspiring property owners are able to acquire property by placing their money in development projects still under construction and in early stages during architectural plans.

While many may consider it a risky investment, off plan development usually pays off well especially where property is located in high-growth areas. It is a means of easy access to and ownership of property as an individual is able to pay off the money through a down payment, and later on in small and manageable installments.

The Perks of Off-plan Home Ownership

One of the advantages of this type of home ownership is making the first pick of a property within an ideal location. This is because most people often wait for properties to be fully constructed in order to make their purchase. Buying off plan means one is able to have the choice to make an improvement in the architectural plan, as long as the price limit is maintained to meet your demand.

The timing of an off-plan purchase agreement is advantageous in that having a long settlement period and a projected increase in market value growth, a potential buyer is accorded good equity growth. As an investor, you therefore acquire future assets and make capital gains at current prices.

Owning a property in its initial stages of development also saves you from future price increments, such that you do not pay any extra amount even if property prices in that particular area increase. This is because the price agreed upon has already been locked in and you are therefore not expected to pay more. This actually means you get to enjoy a price discount, which allows you to spend your capital on more investments where you can afford to consistently grow your property or investment portfolio.

Off plan development enables low initial capital outlay. In most cases, the developer requires an initial deposit and the balance is evenly spread across the construction period. For example, in our latest project dubbed Fanaka Estate, we allow you to pay a deposit of Ksh 2M and balance in 13 months totaling Kshs. 5.3M.

About Fanaka Estate

Fanaka Estate is a prime smart estate project strategically touching tarmac along Dagorretti road off the Southern Bypass. This smart estate features 3-bedroom master en-suite bungalows all suited with state-of-the-art modern CCTV surveillance system and intercom connection for gate security. Each house is internet ready and comes with two parking bays, a large lounge with separate dining, tiled floors and modern finishes. Cash buyers save a whooping Ksh 500,000 for the project and only pay Ksh 4.8M

By investing in this project as a landlord, the return on investment (ROI) is well above the interest rate you can earn on any bank deposit or savings account. Your affordable housing investment will be growing in price and value too. As a homeowner, you secure a high value asset at a low initial capital outlay. You are also set to benefit from capital appreciation where your property appreciates in value as you make your payments. This is because depending on the prevailing market conditions, houses bought via off plan schemes increase in value.

To invest in this estate, call Nyumbani Concepts on 0723 310 000 or email info@nyumbaniltd.com

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Executive Editor for Inversk, Former Coffee Advocate & Corporate Publishing Consultant. My hobbies are 🎤📃🚵‍🏂 and ✈.

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Uber Faces Tax Crisis London

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Recent report by the Uber Technologies In-cooperation in London has brought to light an interesting report as the United Kingdom seeks to give the Uber company a new classification as a transport provider, putting the company at a risk of incurring new tax charges that could weigh heavily on the business, this according to UK recent days accounts filings.

The new tax charges possibility comes as a great discomfort for the company and causes it further headache as it is coupling up with the regulatory problems which the ride-hailing company is facing in London, one of its largest markets.

Uber says that the tax charges are to be 20% on the gross booking fees or rather, the amount passengers are expected to pay or on the service fees normally accorded to drivers, typically about 20-30% of the entire fare. This situation will leave Uber no choice but to increase its passenger fee charges which will leave it vulnerable to the competition who have over the years been complaining about Ubers’ non-payment of VAT.

Uber said that it risked a back tax claim which could run to hundreds of millions of pounds as the charges could apply in both a retroactively and prospectively way. The company is defending itself vigorously by explaining its beliefs on Her Majesty’s Revenue and Customs. Currently, the structure of Uber is in such a way that for tax purposes, it exports digital services driver based in the United Kingdom from a Dutch subsidiary, Uber BV.  In future, Uber could be exposed to VAT because HMRC could deem its operation in UK to be a transport provider.

Uber failed to secure a 5 year term operating license by only being able to receive a 2 month London operating license in a battle with the regulator which has a history with the company of having stripped off its right to take rides.

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How this Company is Making it easy for Kenyans to own Smart Homes

Kimani Patrick

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From outright fraud to poor financial management claims by rogue developers, prospective homeowners in Kenya have become very skeptical on where to invest their money and achieve their dream of owning a dream home.

This notwithstanding, real estate is a lucrative industry and everyone should get a piece. But how can one identify a genuine dealer? Through professional management, industry experience, timely delivery and setting a track record right from the beginning, a concept that the newest affordable homes developer, Nyumbani Concepts, understands very well.

Founded in June 2019 and guided by the core values of integrity, transparency, professionalism, timeliness, prudence and honesty, the company started out on a mission to redefine affordable housing delivery in Kenya and to positively empower families across the country through home ownership.

The directors of the company Joseph Nderitu (Managing Director), Martin Njoroge (Chief Executive Officer) And Loontubu Caroline (Director Sales & Marketing) have a combined 15 years’ experience in real-estate, financial services and marketing ensuring that your investment is with the right professional team.

Nyumbani team is hands-on when it comes to ensuring site approvals are done within the set timeframes and that all properties are in good condition, location and perfect view before handing over to their clients. And with every transaction, the firm stresses on creative problem solving coupled with judicious application of sound real estate principles.

The company has created housing opportunities for all kinds of pockets at very fair and almost unbelievable deals with its flagship project already at the roofing stage – three months after laying its foundation. Installation of windows and doors have also been done and the contractor has already commenced on house plastering this week.

One of the houses at the Boma Estate by Nyumbani ConceptsWith at least Ksh 1.6M deposit, one is able to own a home with Nyumbani Concepts. The company allows you to pay remaining balance within a flexible period of 12 months as your home gets constructed. As an investor, the flexible investment terms give you an opportunity to strike amazing deals for a very fancy, fascinating and well-constructed home which matches your dream that will be a delight to own and reside.

With three projects in progress so far, Nyumbani is not just the first Kenyan company to grow with trackable speed but also the first to develop internet-ready homes. In every project, the company is installing CCTV security cameras and intercom connectivity for gate security.

Taking a look at the inaugural project, Boma Estate, a gated estate containing 3-bedrooms master en-suite bungalows which sold out within two weeks; the estate provides the owners with a shelter which not only soothes it but also inspires and energizes it like never before, beyond your wildest dreams.

Guided by the right principles, led by the right team and staring out setting the right track record, Nyumbani Concepts is the firm to trust in delivering your dream to own a home. But do not take our word for it, visit the company’s offices at Western Heights 1st floor right wing, Karuna Road, Westlands, Nairobi and ask for a free site visit. You can also call or send them a message on 0723 310000.

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KCB M-Pesa to Be Unavailable for 5 Hours on Saturday Morning to Allow System Upgrade

News Team

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KCB M-pesa service will be unavailable this Saturday on a scheduled maintenance. The maintenance is set to take 5 hours starting 2am Saturday October 4 2019 to 7am same day.

“Due to a planned system maintenance KCB M-PESA services will be unavailable on Saturday 5th Oct from 02:00am – 07:00am. We apologize for the inconvenience.” read a text sent to the service subscribers on Friday night.

Throughout the period subscribers will not access any KCB Mpesa services.

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