There are different types of Real Estate Payment Plans which are a result of the necessity in the market to own property. As our tradition, most of us believe in owning property.
There has been a challenge though in getting financing to own houses and invest in real estate. The current credit market has been flocked by many unprofessional lenders who have resulted in uncouth methods of recovery. Legit lending businesses like banks have also posed a challenge to borrowers in terms of high-interest rates.
Let’s Explore the different types of payment plans:
The tight cash flow is not the only reason the Kenyan mortgage market is not growing. People are opting for the rent-to-own model which seems like the best alternative to a traditional mortgage. In this case, you pay a small deposit and get to clear the balance through your rental income.
Another option is where the tenant pays a specific amount of money as rent for a particular period till they pay off the whole amount of the property’s price. This method is called the tenant purchase scheme.
Affordable Housing
The emergence of affordable housing has also been another factor in why mortgage uptake is low. Some international investors and financiers are making it possible for property buyers to acquire assets in a seamless and fast way.
With the government backing up the affordable housing plan, people are eager to shorten the duration of property acquisition. There are also key players like Naivera Holdings who are availing affordable houses to the market.
Our take? The faster and higher the Return on your investment, the greater the investment opportunity. This is what affordable housing is offering. As recorded on business daily, Airbnb landlords are earning a lot of money which is a rental opportunity provided by the affordable housing schemes.
Don’t be left behind, analyze the different types of real estate payment plans and choose one that works for you. Time waits for no man.
