What are serviced plots
They are undeveloped ready-to-build properties with ready title deeds, and all social amenities figured out for the buyer. Ideally, a real estate company buys a chunk of land, subdivides it, installs the infrastructure required to make the property livable – electricity, sewers, broadband, and access roads – then sell it for developers to customize as they please.
In Kenya, property ownership requires quite a lot – from visiting the site to ensuring it is not encumbered and then starting the conveyancing process. While you cannot skimp on due diligence as a potential landowner, you may want to go straight to development after finding out the property complies with what’s shown at the Lands Registry office.
Amenities Figured Out for You
The land process is already a little too complicated for most, so you wouldn’t want to add on to what’s on your plate. If you get any property where the legwork’s already done, your only job is to occupy and develop the space. Serviced plots are already subdivided, boundaries in place, and access roads within the property already completed.
Any investor knows location is key, so most serviced plots are situated with this in mind. Think good schools, access roads, bypasses ,hospitals, supermarkets, farmers, markets, and etc. If those are lacking, the modern homeowner is likely to decline that offer instantly.
Residential or Bungalows to Rent Out? It All Works
So, here’s a beauty: you get to build your preferred structures as these plots are vacant and ready to develop as you wish. Whether you want to build your personal residential property or a nice bungalow to let is totally up to you. This comes from the knowledge that people are not all crazy about uniform houses with pre-determined designs and plans, so you have the liberty of building what suits you as an investor.