After years of waiting for the Kenyan real estate industry to crush ndio Tununue nyumba in one of these mushrooming gated communities, The reality has hit home, this ish can only go , Now I humbly ask you my fellow villagers munipee any leads to a nice kaplot where one can buy and build, a pigsty. Close enough to the essential amenities, not one of those standing in the middle of nowhere. Budget 1m or less so probably kwa mapeasant wezangu, but in a nice, relatively secure place. I’m sure a lot of my fellow peasants will the info really valuable…
I once did the math, and almost gave up the dream of owning a home in a prime neighbourhood in Nai…lets say Kahawa. According to my calculation, a plot in Kahawa Sukari goes for 8mil-10mil. A lecturer in the neighboring K.U earns a net income of 100k-200k if he has other side jobs. If the lecturer saves 100k per month, he would need to save for 7 years to buy the plot of land. Obviously, the plot will not be worth 8 million in 7 years and his expenses will most likely have increased e.g a kid or two. Simply put, a lecturer in K.U or any other university for that matter, cannot afford to buy land in Kahawa Sukari. NB: Kahawa Sukari is not even a posh estate, it is just an upper middle income area. Also note that I did not even include the cost of building the house.
Go to athi river or kitengela or along namanga road, and ditch the idea of being close to amenities. It doesn’t work that way on a budget. It should be more of looking for a place not so far away from the main road.
Amenities ni za estates.
The lecture can easily save in a sacco amount enough to give him a loan to buy the plot.If he works even harder he can pay up the loan before the end of the loan repayment period.Most guys do that
1 M is too low for anything near services, especially roads AND WITH A VALID TITLE DEED.
The solution for you should be to BUY AND WAIT. DON’T WAIT THEN BUY.
Get something now with a title deed and wait for the services to come to you. Cos once the services are in place, the prices will sky rocket beyond belief.
All you need to do is look at Ruaka, any location along Thika Road (Ruiru, Juja etc), Kiambu road and the eastern and northern bypasses.
[SIZE=5]1 million or less next to amenities , Hio nunua vitz and park next to a mall of your choice , other wise nunua kamulu ama kite interior , one day lami itangia and you will be surrounded by amenities ![/SIZE]
Let me ask you a honest question, you see when i was growing up, you could see someone buy a plot, make a house habitable, (just a roof on the head, hakuna plaster, most rooms empty,No elec, maji ni ya kuchota mbali etc). He moves in with the small family, and as time went by, unaona stima imewekwa, upstairs imepanda, plaster, painting etc. After kitu 5 years, the house is complete. Do you see such people nowadays? Very few. And the problem lies as follows.
EGO! Now most people want a complete house, to throw a housewarming party so that people will be, Heh, uliona @Okiya amejenga hao kubwa syokimau! And people fearing masengenyo especially ladies. “Nkt, ata wanaishi nyumba haina madirisha, anatuambia nini sasa?” This makes a person planning to buy/build a house budget some extreme figures which honestly is out of reach for most people.
In short, check your ego seriously when building/buying your house. It brings stupid costs along the way.
There are some towns outside Ngong that have low prices. Real estate in Kenya will never crush but the prices will stabilize especially in Nai. A crush can only happen if demand falls. Its a culture to invest in real estate in Kenya. Its in everyone’s blood. Thats good enough to at least always hold prices .The environs of Nairobi are opening up giving people options outside the city. I dont see city prices rising further except areas right by the CBD. But I am not a real estate expert.