Mortgage: Do’s and don'ts for first-time home buyers

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Buying your first home can be an exciting step. Though it signifies the start of financial freedom, it can also be nerve-wracking. However, housing prices, despite falling during Covid-19, are still 4.4 times higher than in 2000.

The average price of a one or two-bedroom residential property, according to HassConsult, is Sh14.4 million, while a four to six-bedroom residential property goes for Sh39.1 million.

Property investors can, however, take advantage of the mortgages at affordable housing finance schemes.