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Am tired of paying rent!
hardwood
#61 Posted : Wednesday, December 05, 2018 7:11:30 PM
Rank: Elder


Joined: 7/28/2015
Posts: 7,907
Angelica _ann wrote:
hardwood wrote:
The debate spills to the Daily Nation....

https://www.nation.co.ke...77064-laoksl/index.html


This debate will never end, to each their own. We cannot all buy houses, you know smile smile smile


The biggest advantage kenyans have unlike many in the west is that they have rural ancestral land and simbas/homes and therefore taking a 20yr mortgage to buy an overpriced property in the city or a plot huko dustbowl doesn't make sense. For some the city is a workplace where you report to the office mon - fri and then over the weekend tend to your cattle and maize in the village.

FYI Kenya has one of the highest home ownership rates in the world. Over 90% of Kenyans live in rural areas and nearly all of them live in their own mortgage free homes. Also a majority of city workers take sacco loans to build homes in the village and they move there after retirement as they continue farming in their sunset years. For them instead of buying kaploti at dustbowl at 1m and putting up a 5m house, they would rather put up a bungalow in their ancestral land or buy 5acres in the village and put up a bungalow or a semi permanent house.

Therefore the 20k mortgages taken by city folk to buy apartments shouldn't be an indicator of home ownership in the country.
hardwood
#62 Posted : Wednesday, December 05, 2018 7:17:02 PM
Rank: Elder


Joined: 7/28/2015
Posts: 7,907
Angelica _ann wrote:
hardwood wrote:
The debate spills to the Daily Nation....

https://www.nation.co.ke...77064-laoksl/index.html


This debate will never end, to each their own. We cannot all buy houses, you know smile smile smile


The biggest advantage kenyans have unlike many in the west is that they have rural ancestral land and simbas/homes and therefore taking a 20yr mortgage to buy an overpriced property in the city or a plot huko dustbowl doesn't make sense. For some the city is a workplace where you report to the office mon - fri and then over the weekend tend to your cattle and maize in the village. Some even commute from their homes in the village every day.

FYI Kenya has one of the highest home ownership rates in the world. Over 90% of Kenyans live in rural areas and nearly all of them live in their own mortgage free homes. Also a majority of city workers take sacco loans to build homes in the village and they move there after retirement as they continue farming in their sunset years. For them instead of buying kaploti at dustbowl at 1m and putting up a 5m house, they would rather put up a bungalow in their ancestral land or buy 5acres in the village and put up a bungalow or a semi permanent house.

Therefore the 20k mortgages taken by city folk to buy apartments shouldn't be an indicator of home ownership in the country.
newfarer
#63 Posted : Wednesday, December 05, 2018 7:17:22 PM
Rank: Elder


Joined: 3/19/2010
Posts: 3,003
Location: Uganda
hardwood wrote:
Angelica _ann wrote:
hardwood wrote:
The debate spills to the Daily Nation....

https://www.nation.co.ke...77064-laoksl/index.html


This debate will never end, to each their own. We cannot all buy houses, you know smile smile smile


The biggest advantage kenyans have unlike many in the west is that they have rural ancestral land and simbas/homes and therefore taking a 20yr mortgage to buy an overpriced property in the city or a plot huko dustbowl doesn't make sense. For some the city is a workplace where you report to the office mon - fri and then over the weekend tend to your cattle and maize in the village.

FYI Kenya has one of the highest home ownership rates in the world. Over 90% of Kenyans live in rural areas and nearly all of them live in their own mortgage free homes. Also a majority of city workers take sacco loans to build homes in the village and they move there after retirement as they continue farming in their sunset years. For them instead of buying kaploti at dustbowl at 1m and putting up a 5m house, they would rather put up a bungalow in their ancestral land or buy 5acres in the village and put up a bungalow or a semi permanent house.

Therefore the 20k mortgages taken by city folk to buy apartments shouldn't be an indicator of home ownership in the country.

so true
punda amecheka
hardwood
#64 Posted : Wednesday, December 05, 2018 7:22:40 PM
Rank: Elder


Joined: 7/28/2015
Posts: 7,907
Angelica _ann wrote:
hardwood wrote:
The debate spills to the Daily Nation....

https://www.nation.co.ke...77064-laoksl/index.html


This debate will never end, to each their own. We cannot all buy houses, you know smile smile smile


The biggest advantage kenyans have unlike many in the west is that they have rural ancestral land and simbas/homes and therefore taking a 20yr mortgage to buy an overpriced property in the city or a plot huko dustbowl doesn't make sense. For some the city is a workplace where you report to the office mon - fri and then over the weekend tend to your cattle and maize in the village. Some even commute from their homes in the village every day.

FYI Kenya has one of the highest home ownership rates in the world. Over 90% of Kenyans live in rural areas and nearly all of them live in their own mortgage free homes. Also a majority of city workers take sacco loans to build homes in the village and they move there after retirement as they continue farming in their sunset years. For others their families live in the village and its only the man living in the city in some SQ or bedsitter in the city. So for them instead of buying kaploti in dustbowl at 1m and putting up a 5m house, they would rather put up a bungalow in their ancestral land or buy 5 acres in the village and put up a bungalow or a semi permanent house.

Therefore the 20k mortgages taken by city folk to buy apartments shouldn't be an indicator of home ownership in the country.
chauhanmohit
#65 Posted : Friday, December 07, 2018 3:50:55 PM
Rank: Hello


Joined: 12/4/2018
Posts: 7
Kave wrote:
Hi SK guys,

I have been following up discussions here in SK in a passive manner for the last 6 months and i have really learned a lot!
Now,this issue of giving my landlord 18K every month-end is not doing me good.
I work in Nairobi and i can comfortably save some 40K. I cleared campo in 2007 and am not yet married.
I strongly belief that i can get very good advice in SK concerning this issue of paying rent.
Pls ladies and gentlemen,keep the suggestions flowing.


Yaa me too. I wish I could live with my parents
obiero
#66 Posted : Friday, December 07, 2018 7:04:26 PM
Rank: Elder


Joined: 6/23/2009
Posts: 10,937
Location: nairobi
chauhanmohit wrote:
Kave wrote:
Hi SK guys,

I have been following up discussions here in SK in a passive manner for the last 6 months and i have really learned a lot!
Now,this issue of giving my landlord 18K every month-end is not doing me good.
I work in Nairobi and i can comfortably save some 40K. I cleared campo in 2007 and am not yet married.
I strongly belief that i can get very good advice in SK concerning this issue of paying rent.
Pls ladies and gentlemen,keep the suggestions flowing.


Yaa me too. I wish I could live with my parents

Wacha ujinga bwana.. There comes a time to move out and it should be no later than your second payslip
DISCLAIMER: @obiero, MBA-MIS, CISA. Opinionated, owner of www.winda.co.ke. Aims to be factual
tom_boy
#67 Posted : Saturday, December 08, 2018 8:17:37 AM
Rank: Member


Joined: 2/20/2007
Posts: 465
obiero wrote:
chauhanmohit wrote:
Kave wrote:
Hi SK guys,

I have been following up discussions here in SK in a passive manner for the last 6 months and i have really learned a lot!
Now,this issue of giving my landlord 18K every month-end is not doing me good.
I work in Nairobi and i can comfortably save some 40K. I cleared campo in 2007 and am not yet married.
I strongly belief that i can get very good advice in SK concerning this issue of paying rent.
Pls ladies and gentlemen,keep the suggestions flowing.


Yaa me too. I wish I could live with my parents

Wacha ujinga bwana.. There comes a time to move out and it should be no later than your second payslip


SK ni kina nani
They must find it difficult....... those who have taken authority as the truth, rather than truth as the authority. -G. Massey.
rico14
#68 Posted : Saturday, December 08, 2018 5:51:16 PM
Rank: Hello


Joined: 9/30/2014
Posts: 6
tom_boy wrote:
tom_boy wrote:
Buying/ owning a house is the most decent investment one can make in their early to mid life. The advantages far outweigh renting if you have the long term horizon of 30 to 40 yrs in mind.


After crunching the numbers, I conclude that above statement is utterly false and mortgage is the biggest drain on investment ever.

I thought so considering how I read a tweet thread where people were complaining about the payments.
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