The costs of putting up a house or buying one has left many would-be owners with just one thing, a dream. A dream that may never be true.
But according to property developers Suraya, anyone with an income and wishing to own a house can do it, just start small and grow as your income grows.
“The best way to invest in property is to start small,” says the property firm.
According to Suraya, any Kenyan who pays a rent of between Sh15, 000 and Sh20, 000 can afford to buy a house, a comfortable bedsitter to start with.
Apparently, the bedsitter is the best place to start for someone who is interested in owning a big house one day. The logic is that once you buy the bedsitter, this year for instance, its value will have tripled in the next three years.
You can then sell the bedsitter and buy a one-bedroomed house which goes for about Sh2.5 million. By then, a single person or a fresh graduate with a stable job will have settled well in the job and may have earned himself or herself a promotion which means they can then graduate into a two-bedroom house which goes for between Sh4 and Sh6 million.
Anyone with some idle cash to invest in whatever property, be it a piece of plot or a house instead of placing the money in saving accounts where the returns are so minimal.
While deposits in Kenya give a return of less than 10 per cent per year, property values appreciate at between 30 to 40 per cent and sometimes even 100 per cent depending on the location.
“Why rent when you can buy? With the starter home, we are trying to teach people that you need to start somewhere.” Suraya adds: “The quality of a house you are getting for a million shilling is the same quality you get at Sh40m.”
I can only refer to this article as total crap written from a marketer’s perspective?So you want me to buy an overpriced bedsitter for 2.5M?Well, i know someone who build a 3 bedroom mansion for the same amount in Ruiru. So no need of buying an overpriced bedsitter. Build little by little instead of enriching these greedy real estate firms.