Do you have a piece of land but cannot afford to build a standard house? How much do you have?
With innovation and tech, and so many unique architectural designs you can make even the smallest of spaces spacious and, implement smart thinking to reduce the cost of building. As the saying goes, there is more than one way to skin a cat.
Just buy a house
Building a house is expensive, period. Therefore, if you are not into the whole process of construction and especially DONT have patience, this is the best affordable option for you. Find nice apartments or ready-built homes and pay in instalments while living in the house. The cost is relatively the same if not a little bit higher by 1.5 million. The good part is you get to live in the house and save on rent. The only compromise you have to deal with is either space or location. Oh and the design too. So if you are looking for a specific kitchen plan or foyer, try the below options.
E.g: If you have been living in a 2 BR @Ksh.25,000/month for 10 years you will have spent 3 million. Add 500k and you can own a 2 BR x 2 bath home in Utawala.
I Still Want to Build My Own House
Buy a piece of land in a prime location that is convenient for you and your lifestyle. Because this is a permanent home. You need to consider work life, social life, settling down, where your kids can go to school, access to prime necessities, hospital, shopping, water situation. Not to mention it should be strategic for future development projects that will increase the value of the land. Will the area open up or get lost in the suburbs like Baraka Estate?
As a side note, because of 2007 think exit points. In case of emergency, what are your exit options? On the lighter side, if development catches up can you manoeuvre through different points.
Lastly consider disaster-resistant areas. If Greenpark is anything to go by, location and researching the environment around the property is crucial.
Before you build your house or buy that property, Give a prospective plot a year to see how it responds to the seasons.
Consider Modern/Smart Homes.
Because the cost of building or buying a house is ridiculous! The great thing about the internet is the plethora of ideas sprouting everywhere. Just by going through Pinterest, you can save a lot of money by opting for different innovative ideas. Do you know how much it costs to put up a simple decent 3 BR house in Kenya? Think 5 million going up to 10 million exclusives of govt checks and licenses. Can’t come up with any ideas? Have you tried sustainable homes? Trailer houses, Pod rooms, Eco-friendly sustainable bathrooms that recycle water? Multipurpose construction is the way to go if you are open to sustainable affordable living. Can’t believe we almost forgot Solar Panels/Heaters.!
Multifunctional resort homes/
If you have property upcountry, how about creating a simple divine house and rent out as a staycation holiday home when at work. City life is bland and millennials are looking to disappear into the unknown. Such places have great returns if built and managed properly. Why? Because it has become inadvertently important for millennials to get away at least once a month away from the ever-demanding urban life. Self-actualization and mental wellness are quickly becoming a priority to do things. For the right price and marketing, your upcountry boma can be a camping safari, getaway wellness apartment.
Covid hasn’t been all that bad. Thanks to this pandemic, working from home is the new normal. You need only a good wifi connection, electricity and grid access. If your work situation is flexible, you can build a house anywhere. This idea works best for someone who wants to build their own house physically. I mean why not.? It’s very possible to do so. Ofcourse the heavy lifting and getting started will require professional assistance. To save up you can paint your own house, roofing, landscaping, interior designing, closet spaces.
Follow this link for ideas on what/how you can build a house from almost anything.
Lets Talk Numbers :
⅛ acre of land – Ksh 2-5 million depending on location. Consider collective saving and equal partitioning of land.
Ministry of Land charges – Definitely not cheap. Consider legal services or real estate companies plots.
- Doors/Windows- 130,000
- Clipboard- 43,000
- Valley tray and ridge cap-20,000
- Round poles-6,000
- Wall pass-9,000
- Electric materials-50,000
- Plumbing material-60,000
- Bars – 14000,9,500, 6,000
- Binding wire-1,500
- Transport and labour-300,000
- Extras 50,000
- TOTAL – 2,000,000/=
For long term retirement options; Here are links to some future housing projects offered by the Government of Kenya and the costs. https://bomayangu.go.ke/
Covid hasn’t been all that bad. Thanks to this pandemic, working from home is the new normal. You need only a good wifi connection, electricity and grid access. If your work situation is flexible, you can build a house anywhere. This idea works best for someone who wants to build their own house physically. I mean why not.? It’s very possible to do so. Ofcourse the heavy lifting and getting started will require professional assistance. To save up you can paint your own house, roofing, landscaping, interior designing, closet spaces. Follow this link for ideas on what/how you can build a house from almost anything.
Factors to Consider & Key Takeaways
- Location. Excavation-black soil or red soil will define cost. Red= less digging = affordable.
- House Design.
- Materials- Buy in advance and in stock.
- Fittings – DIY where possible on mirrors, cabinets,locks.
- Height from Floor to Ceiling.
- Cut back on unnecessary spending. Every shilling counts thus consider wants and needs.
- Live in a 1 BR house costing less than 15k. Do a calculation of your rent x 5 years and compare the cost of purchasing a similar house.
Divide your income by 2 and then half that half. That’s how much you should be spending on rent. E.G: If your income is Ksh 50,000/month, you should be paying rent for a 1 BR house for around Ksh.12,000-15,000.
- Save in a SACCO that allows you to borrow twice the amount. A savings of Ksh.240k can get you a loan of Ksh.720k.