Should she sell or Construct

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Nameberry1

Village Elder
#1
I ve been around here for a while now, and I think you all may be the only folks who have the insight I am looking for . my aunt owns a home in Kasarani she is 60 yrs old. with 1 daughter in high school. she also owns an undeveloped plot of land in the vicinity(worth 3M) where all manner of rentals are coming up (2bedrooms @20k per month) she asked me yesterday what's best for her.. should she look for 1m kwa sacco n start constructn on the empty plot she has half an M in savings.. or sell it at 3m and build houses up to 4thfloor next to her house inside her residence plot.( that is happening a lot around there). what do you all think? Thanking you in advance.
 

bjurmann

Village Elder
#3
She is 60yrs old. She is still stuck in the 60's. 1million ni foundation pekee siku hizi na mafundi hajalipa. Auze hio ploti anunue treasury bonds.
 
#4
True, 1.5M will do nothing for her, just the foundation and she will have burnt through the cash. She can sell it for 3M get an additional 3M loan and build a one storey house for 6M
 

nairobilay

Village Sponsor
#6
You cannot build flats to 4th floor with 3m. With 3m you will have done foundation and started doing the walls of the of the building. Best thing she can do is get the loan, build shops in bungalow. Maybe 7 shops each 10ft x 10ft...rent those things out minimum 10k per month.
Don't sell the plot. Kasarani is appreciating fast. By the end of next year when garden city is in full swing, the value of the land will be close to 2times what its worth now.
 
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