This year make up your mind to stop the cycle of resolving to invest in land and not following through to the end. A property you wished to purchase in the year 2018 and never did, has already appreciated. Making an effort to save is a step towards taking charge of your finances and investing in a long term asset this year.
Below are useful tips to help you realize your land investment goals this year.
- Be realistic – The surest way to fall short of your goal is to make your goal unattainable, strive for a goal that is manageable. For example, if you are a new investor you can begin by targeting a property worth Kshs 200,000 which is easier to purchase in a few months. This may be a vacant land which is relatively cheaper to acquire. You can then go ahead to target a property worth Kshs 300,000 or more, gradually you will discover that you are able to achieve your investment goals in a realistic manner every year.
- Plan ahead– what do you want to achieve at the end of the year? Do you want to own a piece of property in Nakuru, Naivasha, Ngong or another area? Outline this very well because it goes a long way in helping you look for investment opportunities you have already planned for. If you wish to purchase a property worth Kshs 300,000 determine how much money you will need to save in every month to achieve your goal. This will help you save objectively and intentionally towards a project you wish to achieve at the end of the year.
- Track your progress by documenting– when you come up with resolutions have the resilience to follow up through a checklist. Write them down in a bid to keep track of each small success, further, narrow down to a few short-term goals which are easier to keep. For example, when you manage to purchase a property worth Kshs 200,000 you will be motivated to purchase another one worth more.
- Share your investment goal with a close friend – This creates a sense of accountability, additionally, you might discover you are aiming to achieve the same thing with a friend. This will create encouragement and you may end up forming a Chama and combine efforts to achieve your goal together as a group.
- Turn your resolution into a habit and work on that habit – Habits are automatic daily routines and are things that reside in your conscious. They are a constant reminder of what you are required to do on a daily basis. For property investors resolving to invest this year means you have to establish a routine of attending site visits and Open Days, abstaining from activities that will hinder you from realizing your investment goals and saving intentionally towards your goal.
With this in mind, you will easily achieve your 2019 investment goals.