Why Buying A Home May Be More Advantageous Than Renting?

Although some people find renting a more convenient option, real estate experts still recommend home ownership because of its many advantages. Consider the benefits and risks of home buying vis-à-vis renting. Especially when you think about your retirement years, you will realize that investing in a home will be the smartest decision you will ever make in your life.

Several studies show that having your own home can indeed be beneficial in various ways such as lower chances of teenage pregnancy, better education for your children, and more annual income for your children. But these are just some of the advantages of owning a home. Here are more reasons why you should buy yours now:

1. Housing expenses are more stable with mortgage payments than rental payments.
When you buy a house, your mortgage payments are most likely to remain as they are throughout the home loan period. In contrast, rental fees usually increase each year. Especially during inflation, when prices of goods go up, people who rent are bound to lose more money than homeowners.

2. You get large tax savings. Since mortgage payments consist mostly of property taxes and interests in the first few years, you can expect huge savings when you deduct these fees from your local income and national income taxes-that is, if you decide to purchase your own home.

3. Home ownership allows you to consolidate your other debts. You can do so if you need to refinance your mortgage loan and get out of debt faster. The interest on your debt consolidation can be deducted from your tax as well. You won't get this benefit from renting an apartment, house, or condo unit.

4. You can build equity in your own home. When you rent, the money you pay monthly goes only to your landlord. But when you buy a home, your mortgage payments become your real estate investment. How does it happen? Generally, the value of properties increases over time. And when your property gets more value, you can earn money by selling it. Paying your mortgage loans is like investing your money for future use such as for your retirement fund or for the education of your children.

5. The house is yours! Because you own the house, you have full control over everything that concerns it: the interior design, colour of the walls, the number of guests you can accommodate, gardening and landscape design, among many others. You can have as many pets as you want. You won't need to ask permission from the landlord about changing the look or remodelling the house. No one will force you out of your house or engage you in a violent altercation if you simply want to change the kitchen wall's colour from white to neon green.

Remember, a home is the single biggest purchase that you might make in your life. Before you get a home, you have to know the responsibilities that go with it. The common risks involved in buying a real estate property include decreased value of the home, foreclosure, and increased expenses of maintenance and/or renovation. Thus, weigh all the benefits and risks to be able to arrive at a wise decision.

Author Peter Jordan is a realtor with Prudential NJ Properties in Westfield New Jersey. For more information, visit http://www.livinginwestfieldnj.com 

A Beautiful 50,000Sqm of Beach Farm for Sale at Msanga Mkuu

This beautiful unsurveyed and unserviced beach farm is on the amazing white sand beach of the East Coast of Msanga Mkuu in Mtwara with an area of approx 50,000sqm. The coastal zone has been earmarked for touristy development and is perfectly suitable for the development of a high class Hotel or luxury Holiday Villas. It has a stunning stretch of approx 130m beach front. The plot is on a small hill ensuring that from every spot you have an amazing sea view, and the beach front has a gentle slope with a  nice flat plain down to the fine white sandy beach of Msanga Mkuu. This is one of the most beautiful plots that is left on the famous East Coast of Msanga Mkuu in Mtwara. Price on request!!

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Two Merged Commercial Plots are Available for Immediate Disposal

Two beautiful merged commercial-residential plots each measuring approx 2200Sqm, located along Shangani Road. The plots have three semi finished properties with a fore building designed for trading/shopping activity and a cottage pub for recreational with unfinished public toilet and one big bed room. Its strategic prime location from the Indian Ocean approx 300mts, and from the central town area gives its wealthier suitability and ideal for developing a small housing/shopping complex, but also suitable for multi-storey office building and/or hotel apartment. The property is now available at a reasonable disposable price of TSh.500 Mill.

 

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5 Factors Affecting Real Estate and Property Development in Kenya

As HomesKenya magazine sat down with Mr. Daniel Ojijo, the Executive Chairman of Mentor Holdings, to speak about what to expect in the real estate sector in 2013. The following are five key factors that he believes will affect the growth and development of the sector this year.

1 Housing Demand
Despite challenges that began in late 2011 owing to a weakened shilling, the prospects for the real estate sector in the long-term appear promising. For investors who are eyeing the market now, it is always safer to conduct thorough due diligence on properties of interest so as to avoid fraudulent cases. Nevertheless, the huge demand for housing will continue in 2013, owing to the fact that there is still a huge housing deficit in this country. The mortgage market is set for tremendous growth over the next decade, both in Kenya and the region. The key factor is the rates of interest charged

2 Government Incentives
So far, the incentives introduced have not been sufficient enough to make housing affordable to the lower income group where the demand is high and the supply is critical. As was the case in 2011, the government has plans to offer more incentives in 2013, to accelerate growth in the property market. Budgetary allocation will be enhanced as well as sourcing of funds from development partners to assist in providing cash needed to stimulate construction of affordable houses to meet growing demand.

In 2010, the Ministry of Housing revised the incentives although this may not have been enough. Talks on how to provide more incentives in the sector have been held with Treasury and there’s hope that this will be captured in 2013. Current incentives should be expanded to cover more areas. This is geared towards stimulating more investments as well as taming imbalances in the market.

3 Interest Rates
The interest rates are expected to reduce as pressure is put on the Central Bank and other banks , investors, developers, bank customers and other stakeholders. There is a lot of competition that banks are facing from SME financiers and money-lending is becoming a popular business outlet at lower interest rates than the mainstream banks have been offering. Co-operative Saccos are giving banks a run for their money and Chama Accounts are opening everywhere in the country. With this kind of healthy competition, interest rates cannot remain high much longer.

4 Land Regulations
There is plenty of lobbying by non-government bodies and the CIC is in the process of implementing the land regulations. We expect the changes to come gradually and even though it has taken more time to make the bills into Acts of Parliament for some of the land bills and hence the implementation of the same, we consider the timelines earlier set to have been too short because they did not give ample time nor the necessary release of funds for the grass root awareness movement. We believe that laws are made for the people and that the people should have a chance to understand what they entail. We also agree with CIC that rushing to meet a deadline will not necessarily ensure that good laws are created. The regulations are necessary but all possible input from stakeholders must be collected and analyzed thoroughly before they are made into law.

5 Rates of Inflation
Recent reports indicate that the rate of inflation has also started to reduce. According to the Finance Minister Uhuru Kenyatta, Kenya plans to cut inflation to five percent by 2014/15 through austerity measures to reduce its budget deficit, accompanied by a tight monetary stance.

Statistics show that year-on-year inflation rose for 13 straight months to peak at 19.72 percent last November, before easing to 18.93 percent in December after the central bank raised rates aggressively and good rainfall pointed to an improvement in harvests. The shilling fell against the dollar for most of last year mainly due to a widening trade gap, amplified by global increases in fuel prices and a drought that ravaged the Horn of Africa, feeding through to higher inflation rates in the region. The government aims to lower its budget deficit to 5.1 percent by 2014/15 from this fiscal year’s 6.1 percent. The decrease in cost of fuel should see the cost of inflation also come down considerably.

Eremi Investment House; Office Space for Lease in Mtwara

A contemporary modern building comprising three storeys each measuring approx 260Sqm, located at Raha Leo Street along Tanu Road. The building is adjacent to Camel Oil Station and opposite to Tanzania Revenue Authority (TRA) Regional Office. The premise is ideal for office space with a ground floor suitable for Banking. It is situated at the inner CBD area with only 10 minutes drive from the Airport. Each floor is adaptable for 5 or 6 smaller self-contained office suites or as 1 large office area, all standing on a prime 1 acre property. Its architectural and strategic position gives a rewarding emphasis of the supreme panoramic views of the main road, the upper scenery and the spectacular view of the town area. The lettable space has its unique features and value added services which include: A generous parking space, water reserve, private toilets, security guards with provisions for air conditioning and back up generator. Eremi house is now on the final completion stage but ready for occupation. Rent $15/Sqm/Month.

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Agave Sleepwell Lodge: Where Serenity and Comfort Converge..!!

This is a coolest place surrounded with comfort and peace of mind while you think of lodging in Mtwara. It is one of the lodges in town located at Indian Quarters Street with 10 beautiful rooms each equipped with AC, TV, Telephone, WiFi and private bath plus other services including Laundry as well as Breakfast, Lunch and Dinner. The lodge is also providing drive-inn parking space with security and small venue for business meeting and private functions. For Reservations: Tel: +255232334161 Mob: +255784772702 Email: agavelodge@gmail.com

What is Population and Housing Census with its Key Importance?

The Population Census provides the fullest and most reliable picture of the country's population and its characteristics at the “Determinant Date” (a particular point in time to which the census relates). In the census, data is collected at a specified time from the entire population; in contrast to other surveys, in which information is collected from only a small part of the residents, and from that conclusions are reached regarding the general population.

The Population Census is unique in that it provides the possibility of examining small and special population groups, and acquiring information on small geographic units (localities or dwelling units and neighbourhoods). In most countries population census is carried once in every ten years. Like in Tanzania to date, the census was carried out five times, at first it was conducted in 1910 and then after the national independence it was carried out in 1967, 1978, 1988 and 2002 plus the current one of August, 2012 (http://www.nbs.go.tz/sensa2012/).

The census is one of the most important sources of information that provides a basis for the official statistics of the country. A population census, by the definition customary today, is a complete process of collection, reception, assessment, analysis, publication and distribution of demographic, economic and social data, which relate, at a given moment in time, to all the residents of a country or of a well-defined partial geographic area; as reflected in the Population and Housing Censuses Handbook of the UN, 1992.

Types of population Census

There are two main types of population census and they are:

1. Defacto Population census: This is the type of population census which involves the counting of only those who are present physically during census. In this group, only those who are present physically or seen are counted.
2. De jure population census: This is the type of population census which involves the counting of people who have been permanent residents of a specific area. It does not matter whether the person is present of not. This is population census commonly referred to as counting by proxy.

Stages of expediting the census, conducting a census is a most complex undertaking, and therefore careful planning of each detail is required in the census process - in the methodological, contents and technological fields, as well as the organizational and administrative aspects. Great importance and a special emphasis are placed on planning and prior preparation when planning the execution of a census, preparation that includes many tests and repeated trials.

Census activities can be divided into three main stages:

1. The planning stage.

2. The stage of data collection.

3. The stage of producing the results.

The first stage - planning and preparation towards data collection, this stage is critical. During this stage, and especially at its beginning, the purpose and methodology of the census are determined, the main strategical decisions are made, and intermediate goals are defined, whose achievement makes the realization of the final goals possible. A great emphasis is put on the development of methods and means designed to achieve the goals of the census.

The second stage - data collection, during this stage data on the census population is collected, by direct contact with the residents and/or through information found in administrative resources. This is the most intensive stage, especially if the data collection in the field is extensive. This stage requires complex logistic preparation and is conducted in a relatively short period of time (normally few weeks to several months). In order to achieve good results during the process of collecting data from the population and a high level of quality of the data collected, there is a need for both a publicity campaign to enlist the cooperation and participation of the public at its fullest, as well as a high level of skills in the field operation is required.

The third stage - producing the results; including receipt, processing, estimation, analysis, publication and distribution of the census data, this stage is long and complex, from a professional viewpoint. During this stage three major activities occur simultaneously: Preparation of the final file of the census data (including receipt of the information, identification and correction of errors, editing of the data collected, imputation of missing data and calculation of estimates). Production of products by which the findings of the census are published and distributed, in the form of various statistical summaries and their analyses, or as files of anonymous individual records. Conducting activities of data assessment, from which a picture results of the extent of coverage of the population and the quality of the information produced.

Importance or Reasons of Population Census

The importance or reasons for conducting a population census as quoted from (Funom Makama in Ezine Articles) include: "aiding the government to know the number of people living in the country and the structure of the population; helping in the determination of taxable adults so as to know the amount of revenue expected from that sector; enabling the country to forecast her future economic needs e.g. housing, food etc. and the provision of statistics to the government to determine the level of unemployment in the country".

Further importance could be: its assistance in the determination of the standard of living of the people in a country through per capital income; using the statistics of the number of people in a country to formulate economic policies e.g. revenue formula is at times based on population figures; the estimation of the number of immigrants in a country, the assistance to the government in the distribution of resources e.g. areas of high population will get more resources than areas of low population; giving the government an idea of the different population in various parts of the country and this can help in the provision of social amenities like housing, water, electricity, roads, schools, hospitals etc. It doesn't just end there, Population census is also very vital in giving detailed information to the government on areas of the country where population per land area is high or low; reveals level of man power by helping to reveal the total number of people who are working, when the level of manpower is high, the economic development of the country is assured and assists international agencies and governments in giving aids and other assistance to countries; assists international investors in making investment decisions. In some developing nations, Population is often used to allocate parliamentary seats. States or regions with high Population are given more parliamentary seats than states/regions with low population.

So all said and done, population census as we can now see is far beyond just counting the population of a particular area at a particular time. It can go a long way in helping an area's or nation's economy to grow even as it varies from one year to another. (www.senicoms.blogspot.com)

Who are the Town and Urban Planners / City and Country Planners?

These are professionals who work in the field of urban planning or land use planning for the purpose of optimizing the effectiveness of a community's land uses and infrastructure. They formulate plans for the development and management of urban and peri-urban areas, typically analyzing land use compatibility as well as economic, environmental and social... trends and on how they interact with each other. In developing their plan(s) for a community (whether commercial, residential, agricultural, industrial or recreational etc), they principally consider a wide array of issues such as sustainability, pollution, traffic congestion, crime issues, land values, legislation and zoning codes. Their importance is increasing throughout the 21st century, as the world begin to face issues of increased population growth, climate change and unsustainable development trends. They could be considered as green collar professionals. As versatile as they are, they are poised to fit into all sectors of the economy and yet connected and bound in unity and common goals and objectives. Who are these men and women of substance whose values, versatility and authenticity can not be under-estimated? 

THESE ARE THE PLANNERS!!!

A Beatiful 2.5 Acres of Beach Land for Sale at Shangani West, Mtwara

A beautiful 2.5 acres (approx 9500Sqm) of beach land is strategically located opposite to Ocean Secondary School at Shangani West. The plot is situated at the beachfront of 150 meters wide and a stupendous inlet of white sand, protected by coral reefs and mangroves. This parcel of land is ideal for touristy hotel, shopping complex, construction and civil engineering yard or housing estate development (for single or multiple residential uses). The site possess all the land registration documents. Asking price TSh.400 Mill. For more details contact us:

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Msemo Hotel and Tours, The Perfect Touch of Hospitality in Mtwara

A fully running 24 rooms hotel is situated at the mouth of Mtwara Harbour “the naturally and the deepest port in the country”. It is located along a beautiful mixed stretch of white sandy beach and coral rocks on the East coast of Mtwara, the place known as Shangani East. This place is naturally endowed with rich marine biodiversity where local fishermen are always sailing on the waterfront of Msanga Mkuu. This is a touristy hotel which offers its own personal touch so that guests will experience Mtwara hospitality at its best! It is a cool and clean place where you can relax, have comfort and collect many happy memories, with a secured environment from a troop of Masai guards all over the place.

Normally, this is a place where you could find people of all races from different countries and with multiple classifications i.e. Oil and Gas Mining, Construction and Civil Engineering, Transport and Logistics, Research and Education, Public Health and Community Service, Banking and Business Consultancy, Telecommunication, Informatics and the like. On weekly basis it is a place where members of the Rotary Club of Mtwara meet on every Wednesday at 1900 hours. It is just 15 minutes drive from Airport or The Old Boma at Mikindani. Hope you will enjoy a short portfolio of Msemo Hotel and Tours.

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A Residential Plot is on Sale at Chuno/Shangani West in Mtwara Town

A medium density plot is on sale at Chuno/Shangani West. It is situated in the heart of the well established residential premises in town and it is a place of the mixed affluents and medium class. It is a beautiful surveyed plot with all legal documents, and is located close to the mangrove beach (about 300mt). It is going at a disposal price of TShs.20Mill. The price is negotiable to serious clients. For more details you can contact us immediately:

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10 Acres Beach Farm is Available for Immediate Disposal in Mtwara

10 Acres beach farm is available for immediate disposal in Mtwara. The plot is located along the coast of Msanga Mkuu Village, approximately 25 kms South East of Mtwara Region. The beach is located on the perfect white sand for sporting activities, on the other side it have a beautiful green scenery of old and mixed coconut trees with natural vegetation. The place is ideal for commercial complex, touristy hotel and/or camping site. It is going reasonably at TShs. 300 Mill. Leasehold: Not surveyed (in process). For more details please contact us:


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Benefits of Using a Real Estate Agent for Buying or Selling a Property

1.      An agent has a much more thorough knowledge of the market, therefore should be able to price listings appropriately, as well as give advice on staging, etc. So they will guide you through the process of buying or selling a property.  

2.      An agent has a much larger data base with regards to contacts of buyers and sellers for marketing purpose. They also function like a "personal shopper" for clients, helping them to narrow down the search to properties that fits best their wants. Their desire are important to them and allows them to not have to see every single home on the market but only the homes that best "fit" their needs.

3.      An agent has experience with negotiations, hopefully resulting in a better price for you, whether as a buyer or seller. They know how to structure your offer to protect you, your interests and your money in the best way as possible.

4.      An agent is a third party to the transaction and is not emotionally involved in the transaction. This is important, because the advice they offer you should be based on either facts or past experience. If you are selling, they can give you excellent interest exposure, and if you are buying they can give you the best cut-off price.

5.      An agent sells real estate properties all the time and is familiar with the local real estate customs & other professionals (lawyers, town planners, land officers, valuation surveyors, inspection and insurance companies, etc). That said, having a good, qualified and skilled agent, will benefit you by making sure that the transaction goes smoothly, all paperwork (lots and lots of it) is in order and executed correctly, and your expectations are met to your full satisfaction.

6.      A good agent will give you a list of what you need to do your property to get it ready for sale (painting, clean up, de-cluttering, etc). A good agent can also provide you with feedback after each showing of your home, if you are selling.

7.      An agent lets you know about new homes when they come on the market (this is good for both buyers and sellers) and provide you with local estate market data.

8.      If you're selling, using an agent allows you to be free to do life normally, instead of having to be at home for all showings. The agent can take care of paperwork, getting advertising and marketing done, and generally frees up a lot of time. As to our agency puts it, "We make it worry free". Stress level is very important when selling a property, weather it’s a piece of land or a house.

9.      If you're selling or buying a property without having an agent to represent you, you're eliminating someone who will advocate for you during the entire process, and it’s very easy to end up in trouble if you don't know each process from start-to-finish in the sales transaction, e.g. might be on the transfer of ownership.

10.  Without having an estate agent, you will not have any of this. In this market, if you are selling a piece of land or a house, exposure to the greatest number of possible buyers is paramount in getting your property sold. But if you are buying, there are might be some very few properties for sale by owners these days.

Besides, remember that no 2 agents are created equally; we all have different business models, personalities, and so on. So better find one that you feel meets your needs most closely. Also, if you are a buyer, most of the time you are not paying a fee directly to your agent, the seller is, so that's one less thing to worry about when deciding to use a real estate agent to work for your real estate needs. www.senicoms.blogspot.com

The Beautiful 19 Acres of Land is Available for Sale in Mtwara

The beautiful 19 Acres of land, approx 80,000Sqm is available for sale in Mtwara. This portion of land with a plenty of cashew-nut trees is situated between the main road to Lindi and Mtwara Airport. The site is also located about 4Km from the Municipal town center and 1.8Km from the main road. The property is surveyed with a possession of all legal documents. Its strategic location gives more valuable benefits to the potential buyer for development of a small housing complex, touristy hotel, academic institution or small industrial activity and a yard for building construction and civil engineering. Disposable price TSh. 450 Mill.

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Two Industrial Plots are Available for Sale in Mtwara

Two merged Industrial Plots are available for sale. The plots are located about 4km from Mtwara Town Centre along Mtwara-Mikindani/Lindi high way and Mbae Village junction. The plots have a total area of 12,392 Sqm. The plots are surveyed and have lease hold of 99 years from 2005. It is a supreme land for light industrial activities, petrol station or civil engineering and building construction yard. It is going for a reasonable price of TSh. 400 Mill. For immediate discussion, please contact us now!!


Tazama Ramani Kubwa Zaidi

A Beach Plot is Available for Sale at Shangani East, Mtwara.

2127 square meters plot (low density) is available for immediate disposal. The plot is located at shangani east along the main road, just about 200 meters from the coast of Indian Ocean. It is a place where you could find modern bungalow and decent houses of the new era. The plot is surveyed with a lease hold of up to 99 years from 1991. It is ideal for building apartments, hotel, restaurant and/or for residential purposes.
Asking Price is TSh.350Mill. The plot it is also available for 5-10 years lease term at TSh.500/sqm/month. For more details you can call us now!!

Shamba la Hekari 7 Linauzwa M35 Lipo Mtwara, Ufukoni.

Shamba lipo umbali wa Km6 toka mjini (lipo katikati ya Mtwara Mjini na Mikindani) na linapatikana katika ukingo wa fukwe za mashamba ya ugemaji chumvi, pembezoni mwa Bahari ya Hindi. Shamba hili linafaa kwa uendelezaji wa Makazi au Hoteli ya Kitalii)
Tizama Ramani Hapa Chini Uone Eneo Limeonyeshwa kwa Mshare wa Kijani.


Tazama Ramani Kubwa Zaidi