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How much do you pay in rent?
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mawinder
#41 Posted : Thursday, October 11, 2012 8:10:18 PM
Rank: Elder

Joined: 4/30/2008
Posts: 6,029
What the originator of the thread wanted was figures not stories.Give your figures.Mine is 18k per month.
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2012
#42 Posted : Thursday, October 11, 2012 8:51:57 PM
Rank: Elder

Joined: 12/9/2009
Posts: 6,592
Location: Nairobi
simonkabz wrote:
2012 wrote:
You all sound single. Anyone with a family? I don't know whether you'd fit a family in a 15k house and I'm talking of locations that are not too inconveniencing for work and school for the kids.


Asi!! Na si hii ni matusi yaawa?Sad Sad Liar



Aki @simon this had no pun and wasn't intended as matusi just that I need a 3bdrm stone house and I can't honestly see anybody putting up one and charging 15k.

BBI will solve it :)
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King G
#43 Posted : Thursday, October 11, 2012 8:52:50 PM
Rank: Elder

Joined: 6/20/2012
Posts: 3,855
Location: Othumo
Mukiri wrote:
Wendz wrote:
King G wrote:
Tebes
However, I know of families who stay with nearly the whole clan - [u wrote:
w[/u]ife's sisters


Hapo sasa umenenaApplause Applause Applause

But on a serious note, if you are doing 40k rent per month better watch out. Consider mortgage, expensive in the short run, useful in the long run


What do you call "short run"? 15-20 years? Some times, depending on what you are paying on your rent, mortgage may be more expensive and riskier. If i am not building my own house, i am not touching mortgage in this market with a long pole in the near future..... dynamics of the real estate - pricing, interest rates etc have to change first for me to consider 'mortgaged house' as a viable investment... unless i have completely ran out of ideas... which of course will be a very sad situation.


@Wanyee If you look hard enough you'll find a place, be it in Thika, Kite or environs with the sign 'Drive safely and welcome back to Nairobi'.
@Wendz, Why is mortgage so unthinkable? Start with a small house/flat, upgrade as you grow. Worst case scenario where one has to sell, then dispose, pay off debt and you are left with the rent you'd have paid.



@Mukiri, thanks that is what i meant. If you are paying rent of 40k, i can assure you if you review your monthly expenditure especially for men (ulivi/mpangos/weekendoutings) you will get leakages of about 20/30k. Unneccesary home expenses which can be adjusted will be about 10/15k. This brings about 70k minimum. You strat there - hse of about 6 million for 20 years. Mortgage brings committment and therefore whenever you have extra cash you throw it in there.

Even wife will agree to adjust and pick some of the family monthly expenses.

Started in Buru in the 90's, now in Langata on my way to Karen. heh heh heh
Thieves
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vin
#44 Posted : Thursday, October 11, 2012 10:53:01 PM
Rank: Member

Joined: 1/22/2007
Posts: 337
My feeling is that if you know that you are going to spend the better part of your life working in Nairobi,the wisest thing to do is to find a way of living in your own house however humble it might be.Give yourself some years to do some improvement and within no time you will have a very nice place to call home bila landlord hustles.Just begin humbly alafu maintain tempo ya improvement.
Advice is like snow.The softer it lands the harder is sticks.
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Lucid_Iam
#45 Posted : Friday, October 12, 2012 8:07:20 AM
Rank: Member

Joined: 9/30/2011
Posts: 483
wanyee wrote:
King G wrote:
Tebes
However, I know of families who stay with nearly the whole clan - [u wrote:
w[/u]ife's sisters


Hapo sasa umenenaApplause Applause Applause

But on a serious note, if you are doing 40k rent per month better watch out. Consider mortgage, expensive in the short run, useful in the long run


What kind of mortgage(or for what kind of a house) can you get with monthly repayment of 40k?

Paying one for roughly 45K in a 3br standalone in Rongai. House cost roughly 4M, on company backed mortgage scheme so it relatively cheap to finance. Repayment period of less than 10 years with a good number already paid for. Was paying 20K before in rent for a 2br and couldn't see myself going above that.
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  | | Edit by user: Friday, October 12, 2012 8:08 AM | Reason: Not specified
wanyee
#46 Posted : Friday, October 12, 2012 9:08:29 AM
Rank: Member

Joined: 7/17/2011
Posts: 627
Location: Mbui-Nzau, Kikumbulyu
Lucid_Iam wrote:
wanyee wrote:
King G wrote:
Tebes
However, I know of families who stay with nearly the whole clan - [u wrote:
w[/u]ife's sisters


Hapo sasa umenenaApplause Applause Applause

But on a serious note, if you are doing 40k rent per month better watch out. Consider mortgage, expensive in the short run, useful in the long run


What kind of mortgage(or for what kind of a house) can you get with monthly repayment of 40k?

Paying one for roughly 45K in a 3br standalone in Rongai. House cost roughly 4M, on company backed mortgage scheme so it relatively cheap to finance. Repayment period of less than 10 years with a good number already paid for. Was paying 20K before in rent for a 2br and couldn't see myself going above that.

what about those who dont have "company backed schemes? someone please show me one ..esp done with the mortgage calculators i see on the website ...40k ...no hakuna 70 k ..yeah a 1 bedroom in Athi-river...Liar
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essyk
#47 Posted : Friday, October 12, 2012 10:10:32 AM
Rank: Elder

Joined: 11/15/2011
Posts: 4,518
Sh 537.
"The true measure of a man is how he treats someone who can do him absolutely no good.
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wanyee
#48 Posted : Friday, October 12, 2012 11:29:03 AM
Rank: Member

Joined: 7/17/2011
Posts: 627
Location: Mbui-Nzau, Kikumbulyu
sh 800 Kibera laini saba so that i can scrooge and save to live in Karen Runda 1 day ..niruke midro crass direct to aristocrat PAP!
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skforce
#49 Posted : Thursday, October 18, 2012 10:15:47 AM
Rank: Hello

Joined: 10/17/2012
Posts: 4
I pay 80,000 ksh rent. I used to own a house, but never made sense why I should live in house worth 20million and its not really doing anything for me. Sold the house and went into business, buying and selling land. I have a plot in a prime residential area, everyone tells me I should build a house there, but when I do the maths, it does not add up. It will cost me about 15million to put up a house fit for the area.

Why waste capital building a house while I can invest the same and make much more money. To me, it makes sense to pay rent.

Is my thinking warped??
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jaggernaut
#50 Posted : Thursday, October 18, 2012 10:28:06 AM
Rank: Elder

Joined: 10/9/2008
Posts: 5,389
I used to pay 35k before i moved into my own house about 2 yrs ago and forgot about rent. It's such a big relief when you no longer have to pay rent.
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