How many years did it take you to save up for your first house and how did you save up for it.
Want to get a ka house in syokimau worth 5M. Only have 1M saved up. Need inspiration from those who have gone before me
hapa cayole nasave kwa muhindi 20 bob daily nilipe rent ya mia tano . ahsande .
Invest ,hio pesa na you use the returns to rent,grow the investment portfolio na usinunue this overpriced housing units
Interesting perspective. But will I rent forever bro
Be very careful about syokimau
It’s a tough pick, with that amount saved , you can down pay a mortgage for the house .
The problem is mortgages are tricky , how much are you ready to part with monthly to repay the mortgage. Or let me ask how much is your monthly rent? Is your job secure?
If you can meet the mortgage , go ahead, but read between the lines, get to know what you’ll be committing yourself to.
Whoever is telling you you start a business with 1m, is mad. There are no businesses to start in Kenya at the moment, you need to have done very good market research to start one.
If you are able to save up 1m, you may be able to self build slowly, that is buy a piece of land, in kitengela or athi and build up slowly. Here you also have to be logical, build what you can afford to, I suggest a nice bungalow, instead of a massionette.
Shida iko wapi Kama your investment return s are way higher than your rent,you can buy a house alafu hio neighborhood ikuwe “slums” ama you need to change jobs to another town / country,with investments you have OPTIONS,and options is what you need in all sphere s of life.
Go to a growing place like machakos (its near nairobi) buy a plot with that 1 m, izo zenye ungesave ifike 5m zitumie kudevelop io plot na bedsitters na 1 bedrooms. 20 units za 7500 per month. You will be able to rent the most expensive house in syokimau at 85k, na ilicost mwenyewe 20m kuinunua. Fanya hesabu. na utabaki na pesa ya kubuy plot ingine
The problem with building before you grow wealth is that you will tether yourself to the same place like a goat. build rentals as you rent. once rental income hits over 400k per month (plot tatu each around 20 units), tafuta mahali ujenge uko kwa wadosi mahali ina security, fresh air, good access to town place haina jam, away from peasants, enjoy life pole pole.
Hii ni upuzi gani?
Unaishi kwa kennel? Hio ndio labda unaweza lipa mia tano.
W
Whats wrong with Syokimau
Very sensible post and you always have sober advice. Asante
We assist each other up, bro.
If you need the house now, go to KUSSCO and join the housing fund. Joining fee is 2,000/-
Then save up an additional 400,000/- and you’ll qualify for a 7,000,000/- loan. Repayment period is 15 years, and interest rates do not fluctuate since KHF is not governed by the CBK. Best mortgage ever.
Have you joined them
It looks you want to buy an apartment. It’s both a good thing and a bad thing. If I was in your position I would look around huko huko Syokimau for a plot and slowly build like @kush yule mnono.
Sande sana omwami. I will look into it.
Huwezi pata ploti ya 1 m Syokimau saa hii. Or may be I’m wrong.
For many years I swore that I would never buy a house but since moving to this new city, I realized the rent was much higher than the mortgage fee.Therefore renting only makes sense as long as it’s cheaper than the cost of ownership. For how long will that be the case in Kenya?