Hey guys just need a simple advice kuna shamba worth 1.2 mill wanted to save 30k fro three yrs ndo nibuy alternatively bank inafai kunidunga 1.5 chap chap shamba iko place prime if it were you which option could you take?

Why take a loan from a bank when you can get a lower interest loan from a sacco?

I wouldn’t recommend anyone to get 100 percent financing especially from a bank. The bank will have you by the balls.

If you must take a loan, you should save at least 50 to 70 percent of that asking price, and seek a loan for the remaining balance.

Maze thanks recently got employed so sjasave much na sacco thats why bt good insight ju nkichukua 1.5 ntalipa almost 2m bana

So you think the shamba will be selling at 1.2m even after 3 years? Are you the only one who can buy that shamba? If your answers are yes, then that place is neither prime nor semi-prime.

I get your point it wont be 1.2 in 3 yrs it might ne higher bt now what option do i have of ciz plenty of people are interesred too

If it is that important to you, take the loan and buy it. Repaying at 30k/month, the amount you are currently saving, will take you about 5 years to clear the loan. With normal jobs in Kenya, you cannot do much without loans.

If you got recently employed the last thing you want is to take a 1.5 million loan with little savings to buy a shamba.

Never make a haste financial decision under pressure because other people are interested. Kama inaenda, wacha iende.

Just save wisely for a few years, and when you’re ready, you can invest bila pressure. Even if someone buys that piece of land, there will always be other good options if you’re patient.

Kweni shamba ni hiyo moja pekee yake?

Lazima ni kwetu Kanduyi shamba prime inauzwa 1.2M. Maendeleo kule imekwama kabisaa.

That said, You lose in both options. If you save for 3 years to buy it, utapata is no longer being sold for 1.2m the goal posts will obviously have to move further. If you take a loan, you will pay some really good interest to the Bank, and will cost you some time for the value of the shamba to recover that loss. So either way, toss a coin and take your chances with whichever side the coin will deal you.

@bazengashtundu I side with this. Always remember that opportunities are like buses. There is always one coming. Save up at least 70% of the income and purchase with the rest. That way you can clear the loan in less than 18 months or a year if you squeeze yourself.

If you want to make a home there, take the loan. Lakini kama ni mambo ya kuambiwa investment, dont take a loan. Shambas huko rural never improve your income. They are useless as a form of investments, only good for your children

How can the SACCO facilitate kama wewe hapana member wa sacco? Educate me tafasali.

Relax…my brother, relax. Thats how we make terrible investment decisions. You are making a mistake.

Whenever you want to invest and you find yourself feeling excited ni kama ni chance ya mwisho…just take a break…abort the mission.

Hhhhehe ni vihiga bro im torn in between bana guess i might toss the coin

I get it but when do you take a risk in life 3 yrs after today it might be a regret that i didnt take that chance that came my way

Si lazma ukue member wa sacco ukisave nao ndo wakujenge loan

Yeah bro i get your advice

Lands in rural areas are the best…lakini kama farming imekubali mtu

You must become a member and save with the sacco for a few months to be eligible.

just take the loan, place prime ni wapi?

If its prime as you indicate go for it.

Your lifestyle adjusts with the available disposable income.

You will find somebody earning 1m having the same problems with somebody earning 100k since lifestyle adjusts accordingly.

Bora ujipange.