Thanks to Maishinski and Jim Dandy for real estate advice in advice in recent comments on housing investments for those in the Diaspora – touching on management, financing, project issues – and lead to cost/property price issues. What is the residential cost per square foot in Naiorbi? They are frequently cited for commercial properties, but not for residential properties where houses are marketed by the location (most important), presence of compound, servants’ quarter, pool and finaly – number of bedrooms (whcih can be deceptive – I saw a 3 bedroom house that was previously a one bedroom, and the third bedroom had originaly been a walk-in closet)
More on Real Estate
first Dr Laila Macharia advises on housing finance myths and how to overcome them – These are;
– That one needs to be married to own a home.
– That a single person looking to purchase a home has to struggle for years
– That a family must save for a really long time to set aside money for their dream home.
and second Pesa Tu (hi; welcome back) gives away secrets of a successful housing developer as he reviews the dangers of the Nairobi apartment craze and the dangerous path the housing market is going down – these are
– Buy land in Lavington, Westlands or Kileleshwa
– Get the building plans approved
– Line up financing for the construction
– Put the artistic renderings of your XYZ apartments in the papers
– Sell 80% of the apartments before construction
– Bank your profits
Real estate can be a lucrative but risky investment jungle and if the by-passes and super highways as envisioned by Kenyans are ever built, there’s no reason why one can’t live in Machakos, Thika, Naivasha and be a quick sub-hour commute from the office to home.