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Renting Vs Buying Property Along Waiyaki way (pros & cons)

You want to invest in real estate but haven’t made up your mind on whether to buy or rent a property along Waiyaki Way and its surroundings.

Here are some streamlined benefits and drawbacks of both options to assist you decide which to choose before you start announcing to your friends and coworkers that you are “a Waiyaki way resident.”

Buying Pro’s

  • Purchasing real estate can be paid for in a number of different ways. The majority of landowners choose mortgages or “lipa mdogo mdogo” choices. In either case, these payments function as investments in that you receive a return on your investment of your hard-earned money in the shape of a property, house, or apartment unit in the Waiyaki way, whether it be a 1, 2, 3, or 4 Bedroom apartment or house, upon completion of the agreed payment amount.
  • Property that can be customized – After purchasing real estate in the communities of Westlands, Kangemi, Mountain View, Kabete, naivasha road Kinoo, or Kikuyu, you have the freedom to make changes to the property that best suit your needs without seeking permission from the builders.

     

  • Community involvement – The majority of the Waiyaki Way neighborhoods are segregated estates where community involvement is required for the estates to improve. Property owners play a vital role in such public participations when it comes to making important decisions about community growth since they are seen as people who are there to stay and not people who are there temporarily as renters.
  • Avoiding the red tape required in building – Are you the sort who prefers the end result than the hardships involved in creating it? You can purchase a large number of finished homes and flats near Waiyaki Way and Naivasha Road, ranging from apartment units to townhouses, mansions, and maisonettes. By purchasing pre-built homes, you can avoid the time-consuming and difficult processes of obtaining permits, loans, construction workers, and equipment to build your own home. However, if you purchase a ready-made property, all you need to do is move in after signing the papers. Easy peasy!
  • Homeowners around Waiyaki Way and Naivasha Road take satisfaction in bragging to their friends and coworkers about their residences. This pride results from the fact that these areas are upscale, tranquil, and breathtaking to own a piece of.

Buying Cons’s

  • Repair and maintenance expenses are the responsibility of the property owners along Waiyaki Way, as opposed to renters. Depending on the type/size of the property or the neighborhood, maintenance fees may change. Because there is less affordable labor available in Westlands, Mountain View, and Lavington than in Kangemi, Uthiru, Kinoo, and Kikuyu, there is a difference in price fluctuation.
  • Property depreciation: The longer you dwell in a property, the more it loses value. Regardless matter where you are on Waiyaki Way or Naivasha Road, wear and tear is the primary cause of property depreciation.
  • High down payment – The down payment, particularly on loan payment terms or Lipa mdogo mdogo options, is typically high before purchasing a property along Waiyaki Way or Naivasha Road. Because they serve as a commitment/security charge to the developers, the substantial down payments are necessary.

     

  • Being immobile – Owning a home limits your capacity to move around frequently. Ownership of a residence restricts you to live in one location, in this case along Waiyaki Way, unlike renting.

Renting Pro’s

  • Rent can be found for a reasonable price in various areas, including on Waiyaki Way and Naivasha Road. Compared to other pricey areas in Nairobi, one-bedroom flats sell for as little as 11,000/-, two-bedroom apartments for 15,000/-, and three-bedroom apartments for 25,000/-.

     

  • Mobility: Renting is the greatest choice for you if your career, school, or project frequently demands relocations. Without having to worry about living behind privately held land, one can sign short-term leases in a variety of Waiyaki Way areas and move when necessary.
  • No Property Value Decreasing: Along Waiyaki Way, significant establishments have risen as a result of advancements in the real estate industry. Since one can readily move to a more modern unit if necessary and since people also emerge with their own free will living behind outdated homes, your rental apartment cannot lose value while you are renting it.
  • One might simply avoid paying maintenance and repair charges for the home they are renting if certain agreements are made before renting the property. Most, if not all, of the properties along Waiyaki Way have landlords or developers taking care of the repair and maintenance charges as an added benefit to allow their renters to enjoy their stay.

Renting Con’s

  • Rent increases based on agreements – Renting along Waiyaki Way, particularly for long-term rentals, can end up being pricey. The rent is typically subject to revision after a specific amount of time, which results in additional charges.
  • No equity – Unlike homeowners who choose lipa mdogo mdogo and ultimately become home owners in return, people who rent do not get home ownership regardless of how long they stay in the rental. Renters merely serve to increase the equity of the landlord.
  • Limited customizability – Since rented homes are not the tenant’s property, alterations can only be made with the developer’s or landlord’s permission

Check out these properties along waiyaki way you can choose from after making your decision:

https://homespaceproperties.co.ke/property/cozy-2-3-bedroom-apartments/

Brand New Residences! Executive Apartments

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