Features of a Freehold Title Deed for Land for Buying
Owning land in Kenya is not a shallow affair. It requires its own level of seriousness especially now that fraudsters are on the rise. There are many ways that you can own land but getting a freehold title for your property beats them all.
So what’s a freehold title and why is it the best assurance in land ownership?
A freehold title is whereby you as the land owner have maximum rights to a piece of land without any restrictions. With a freehold title deed, the land is solely yours without any ownership conditions. You are also free to use the land for whatever purpose so long as it’s within the standards of the local authorities.
So, what are the benefits of a freehold title in Kenya? Keep reading as we give you reasons why you will be safer with a freehold title for your piece of land in Kenya.
1. No Time Limit
This is the best part of owning a land with a freehold title. The land belongs to you for as long as you live or wish to sell it or give it as an inheritance. This means that you are not limited in terms of usage. You can use your piece of land for whatever reason you wish.
If you are investment minded, buying a land with a freehold title would be the best option. You will be able to enjoy a long term investment plan in your land without the fear of harassment.
Buying a land with a freehold title ensures that you will be able to create a cool environment for your family without anyone’s obligation. You can build the house of your dreams with the comfort of your loved ones in mind whenever you are ready. Additionally, you are free to make any adjustments or changes on your property to meet your taste and preferences. This is not possible in the case of a leasehold title because you may be limited by the owner or the time of the lease.
Sometimes in life we are faced by difficulties that can only be solved by money. Luckily, if you’re a holder of a free hold title, you can walk into any financial institution and be given a loan to sort out your problems. The freehold title can act as collateral for the loan you need. However, it will depend on the type of loan that you need because not all loans require a title as collateral.
Land valuation is also necessary as it will help you know how much you can expect to get from the bank. Therefore ensure you get a legit land valuer.
You also need to choose the right financial institution and put their interest rates, and repayments into consideration.
Most land owners in Kenya have used their freehold titles to access loans to develop their properties or purchase more assets.
The above are the main reasons why you need to get a land with a freehold title. However, anything that has a good side does have a bad side. So what’s the down side of a freehold title? There are no major disadvantages of a freehold title only that you will be totally responsible for all the expenses on the land or property whether big or small. There is no one else to take care of your property in case of an incident or when you fall into legal issues. You are completely responsible for taking care of your land and making the most out of it.
Properties with freehold titles are the best to go for if you are willing to buy land in Kenya. With this title deed, you will enjoy maximum freedom to do that which you please with your property. You can also create the right environment for your family when building a family house. Additionally, you can use the title to acquire a loan easily at most financial institutions in the country.
With this information, we hope that you will be knowledgeable in your search for land anywhere in Kenya. Your peace of mind comes first and a freehold title will grant it to you.