300k seems alot but if you have a family of five, i.e 2 adults and 3 kids, you will learn very quickly that while it is enough to live comfortably, it is hardly enough to buy properties in Nairobi.
A decent 4bedroom+DSQ in a secure gated estate within driving distance from CBD (Less than 50Km from Archives near a tarmac road) will set you back at least 15M and I’m being very generous. A decent crossover will set you back at least 2.5M. A family of 5 will need at least 2 cars to feel comfortable so that’s 3M in cars at least assuming one crossover and one vitz. Furnishing the house, security cameras, electronics, solar water heaters, etc will set you back 2M. So, A decently furnished house with most creature comforts, within driving distance from CBD, and decent vehicles for logistics will set you back 20M. Now, how long will it take you to afford just that with your 300k net salary with a family of five to look after?? If you are lucky you will save 100k every month. That’s 17 years worth of savings just to afford the decently furnished house near the city center and two basic cars.
300k looks like a lot of money, until you have a full family before buying a house. Hapo ndipo hesabu yako itaharibika because you will soon learn that buying the house will get significantly harder. If you get a family before buying the house, like most people do, your dream of owning a decent house in a nice and secure estate near the city will fade quickly with your 300k salary.
300k income is no mean feat. Until you start looking at property prices in this city and surrounding counties especially for a family man who cannot save most of that 300k anyway because he has kids to raise.
Houses in Kenya have become an investment for foreigners and people who got money through panya routes like gava deals, scamming etc. If you earn legit money, you are better off renting and putting your small savings in liquid assets like stocks, bonds and crypto
Do you seriously think foreigners are buying houses in Kenya? Foreigners with money and can afford doing so will not buy a house in Kenya of all places.
Pray tell who are these rich foreigners buying homes in Nairobi? . The only ones buying are doing so because they can’t afford shit in their home countries.
Aside from the poster who makes above 300k, are there any other people here making more than that? Vile mnachambua amounts apa you’d think all of you make 300k+.
Nice planning (if true). Life huwa about ups and downs. You need to have that is mind. You struggle from down there, have plenty today, go down and the cycle continues
That was just satire I resell internet = 150k a month
I also sell laptops and woofers(built myself)
Alafu za bahati hapa na pale example kama ku reinstall windows na charge 2k nikipata contract yakama shule highschool hivi ama ofisi 30 computers unaunda 60k in one day
True. Siku hizi house prices do not match rent. It is a lot cheaper to rent than to own the property. Unapata nyumba inauzwa 25M and renting for 100k. Clearly, its much cheaper to rent than buy. Huyo landlord atarecover pesa yake after more than 20 years. Saa hii Nairobi is a renters market not a buyer’s market.
My personal rule is to never pass $500 a month in rent (65k KSh at current rates). Above that and now you are starting to pay rent similar to developed countries like Japan with none of the infrastructure to justify it.
There are so many excellent deals below $500 if you take time to look. Right now I’m staying in a 35k own compound house which is about a quarter acre and 30 minutes away from CBD by Matatu
Personally I would even pay that 300k rent if I could afford it. Siwezi earn more than 3M per month net nikose kuishi leafy suburbs juu ya 300k rent. I’m sure you get a lot more house and amenities for Ksh 300k in Nairobi than you would in developed countries. Infrastructure tuu ndiyo utacompromise. $2300 is a one bedroom or 2-bedroom apartment in a middle class area in Miami/New York.
I care more about affordability than the figure. If my income was high enough then I would be more open to spending that kind of money on rent.
My place is 3 bedrooms. Compound is big with a few trees in it, and the estate itself is gated with cabro roads and proper lighting. I genuinely might be done with my housing needs for life now. I think introverts who like being at home are more willing to spend big on their house. As an extrovert myself, I am minimizing on home costs and spending most of my money on experiences and exploring talents that I always wanted to acquire
