Buying property off-plan has been on the rise in Nairobi. Off plan apartments are not only being built for convenience and to some point luxury, but they are primarily located in prime and secure neighborhoods. For a buyer, you get to own a new home that you purchased relatively cheap compared to similar finished apartments due to their low initial buying price.

However much off-plan purchasing seems like the perfect idea to owning your home, buying property that you are yet to see requires you to perform due diligence. Due diligence assures you that you are making the right decision and brings peace of mind. Below are tips on how to carry out due diligence in off-plan real estate investment;

Know the developer

Knowing the developer does not mean the name of the company and the office. Research them. Who are their directors? Know who their architects are and their main contractor. Find out if they are registered under the National Construction Authority (NCA) or if the developers are a member of the Kenya Property Developers Association (KPDA). Such information provides you with clarity on whom you are just about to invest your money in.

Visit the site

The apartment may be non-existent but the property about to built on should exist. As a client buying into an off-plan real estate venture, it is your right to visit the site to confirm the details of the proposed project. If you do not understand the terminologies of construction and law, bring your lawyer. Many are the cases where Kenyans have been dupped only to find out the investment was a hoax, especially for Kenyans living in the diaspora.

Be armed with information

Information is power. Every nook and crook of that purchase contract, you should understand it clearly. Go through it with a lawyer and be aware the terms of purchase and important clauses captured within it.

Also, free flow of information as the development is coming up is crucial. Stay up to date by insisting on frequent updates from the developer on the progress of the project.