Why You Should Buy a Fully Serviced Plot
The land property segment in Kenya boomed between 2016 and 2021. At the time, plots were on sale all over the country, but most of them were in deserted places with no utilities or social amenities. Buyers who rushed to take advantage of the offers soon found themselves with prized possessions that were literally in the middle of nowhere. Speculators and dream-home builders alike lost out, and the craze fizzled out.
Despite the many skeptical and remorseful buyers left behind by the craze, the Kenyan land boom of 2016-2021 was a crucial watershed moment for all players in that segment and the general real estate industry at large. It forced property developers to reflect on and rethink value addition in land property, leading to the emergence of fully serviced land.
Unless you live under a rock, you must have heard of the phrase “fully serviced land” or “serviced plot” by now. However, the phrase is still not well understood by many Kenyans. When browsing through social media pages, you often see people asking what developers mean by “full serviced plot”. This is because the phrase is ambiguous, and some dishonest companies take advantage of the confusion to avoid delivering on their promises. What exactly does “fully serviced land” mean?
What is serviced land?
Fully serviced land refers to a type of real estate property, typically located within planned communities or estates, that comes equipped with essential infrastructure and amenities necessary for residential or commercial development. This type of land is prepared and ready for construction, often offering features such as paved roads, street lighting, water supply, sewage systems, and sometimes additional amenities like security measures and recreational facilities.
The term “fully serviced” signifies that the land has undergone prior development and is equipped with the necessary utilities and facilities, saving buyers time, effort, and potential challenges associated with land development. It provides a convenient and ready-to-build option for individuals or entities looking to construct homes, businesses, or other structures. Fully serviced land is gradually but steadily becoming a popular choice for aspiring homeowners in Kenya who would like to buy land and build at their pace and style.
Here are several compelling reasons why you should consider purchasing a fully serviced plot in master-planned developments like Herencia:
- Time Savings
One of the most significant advantages of buying a fully serviced plot is the time you save. The process of obtaining approvals, permits, and licenses for various services can be quite time-consuming. With a fully serviced plot, all these requirements are typically already met, allowing you to start your construction project promptly.
- Cost-Efficiency
Developing a piece of raw land can be expensive. You’ll need to factor in the costs of bringing in utilities, constructing roads, and setting up security measures. In contrast, fully serviced plots are generally more cost-effective, as these expenses are already included in the purchase price. This means you can allocate your budget more efficiently toward your actual construction or investment.
- Convenience
A fully serviced plot offers the convenience of immediate access to essential utilities and services. You won’t have to wait for extended periods for utility connections or worry about the quality and reliability of services. Buying a fully serviced plot in Kenya can also give you access to security in gated communities with amenities like swimming pools and playgrounds, making your community more desirable and increasing your home’s value. This convenience extends to residents and businesses, making the area more attractive and accessible.
- Lower Risk
Buying undeveloped land can be risky, especially if you are unfamiliar with the local regulations and challenges. A fully serviced plot reduces these risks significantly, as the developer or seller has already navigated the regulatory landscape and mitigated potential issues. This can provide peace of mind, especially for first-time land buyers or investors.
Conclusion
As you can see, buying a fully serviced plot is a smart choice for both aspiring homeowners and investors. The time and cost savings, convenience, reduced risk, and potential for higher resale value make it a compelling option. As the real estate market continues to evolve, fully serviced plots offer a modern and practical solution to land acquisition and property development, ensuring that you get the most out of your investment while contributing to the growth of the country’s infrastructure.
