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What Housing Units options available?
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AE
#1 Posted : Monday, July 28, 2014 6:24:00 PM
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Joined: 7/28/2014
Posts: 14
Housing Units For Sale

Hi Wazuans;

I wish to obtain a mortgage from my employer. The mortgage is at a favorable rate of 5%. I intend to take 5 Million and repay it in 10 years.

What are the options available within a 20Km radius from the NRB city centre?

I would prefer stand alone units.
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Chaka
#2 Posted : Monday, July 28, 2014 6:47:52 PM
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Joined: 2/16/2007
Posts: 2,114
From the heading of your post,guys will think you are selling houses?
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Othelo
#3 Posted : Monday, July 28, 2014 6:52:10 PM
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Joined: 1/20/2014
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You have read the thread on mortgage or not... hapo chini..... i hope so!

5% remember there is the Nyachae law of taxation!
Formal education will make you a living. Self-education will make you a fortune - Jim Rohn.
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AE
#4 Posted : Wednesday, July 30, 2014 9:34:31 AM
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Joined: 7/28/2014
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Othelo wrote:
You have read the thread on mortgage or not... hapo chini..... i hope so!

5% remember there is the Nyachae law of taxation!


@Othelo, I have read the thread on mortgage and I feel the rate is low compared to the market rate hence my decision.

Nyachae law on taxation...educate me on this?
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mawinder
#5 Posted : Wednesday, July 30, 2014 9:41:10 AM
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Joined: 4/30/2008
Posts: 6,029
AE wrote:
Othelo wrote:
You have read the thread on mortgage or not... hapo chini..... i hope so!

5% remember there is the Nyachae law of taxation!


@Othelo, I have read the thread on mortgage and I feel the rate is low compared to the market rate hence my decision.

Nyachae law on taxation...educate me on this?

Fringe benefits taxation!!!!!
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kasibitta
#6 Posted : Wednesday, July 30, 2014 11:21:07 AM
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Joined: 2/7/2014
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@mawinder...will the fringe benefit apply even to those i.e banks who may have been paying for their staff.This is because at the moment the fringe benefit may not be much but when KRA rate goes up, then thats where the catch is.

@AE....the past two weekends i have gone round kiambu road, waiyaki way and mombasa road.I never saw a standalone unit for that price of 5M, unless you are topping up cash.On the contrary,i was shocked to learn of apartments going for 15M for a 3br on waiyaki way near Uthiru.You may have to revise your figures.The cheapest standalone i came across was 10M
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AE
#7 Posted : Wednesday, July 30, 2014 12:28:57 PM
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Joined: 7/28/2014
Posts: 14
kasibitta wrote:
@mawinder...will the fringe benefit apply even to those i.e banks who may have been paying for their staff.This is because at the moment the fringe benefit may not be much but when KRA rate goes up, then thats where the catch is.

@AE....the past two weekends i have gone round kiambu road, waiyaki way and mombasa road.I never saw a standalone unit for that price of 5M, unless you are topping up cash.On the contrary,i was shocked to learn of apartments going for 15M for a 3br on waiyaki way near Uthiru.You may have to revise your figures.The cheapest standalone i came across was 10M



Those figures are high.... Thanks for the information. I will scout for more and then see the way forward.

I do not intend to top up. However I have an option of revising the the amount downward to say 3.5 Million and buy land within the same radius and repay it within 5 years.
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webish
#8 Posted : Wednesday, July 30, 2014 1:12:07 PM
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Joined: 10/19/2009
Posts: 671
Location: Nairobi
AE wrote:

Hi Wazuans;

I wish to obtain a mortgage from my employer. The mortgage is at a favorable rate of 5%. I intend to take 5 Million and repay it in 10 years.

What are the options available within a 20Km radius from the NRB city centre?

I would prefer stand alone units.


You will probably only get Apartments for that budget.. Some of which are actually good bargains..

Must it be Stand alone?

Life is joy, death is peace, but the transition is very difficult.
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AE
#9 Posted : Wednesday, July 30, 2014 1:55:06 PM
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Joined: 7/28/2014
Posts: 14
webish wrote:
AE wrote:

Hi Wazuans;

I wish to obtain a mortgage from my employer. The mortgage is at a favorable rate of 5%. I intend to take 5 Million and repay it in 10 years.

What are the options available within a 20Km radius from the NRB city centre?

I would prefer stand alone units.


You will probably only get Apartments for that budget.. Some of which are actually good bargains..

Must it be Stand alone?


I can consider apartments too. Just name the good ones; I will visit them and evaluate.
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kamundu
#10 Posted : Wednesday, July 30, 2014 1:59:59 PM
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Joined: 5/9/2011
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Location: Mashinani
Buy land instead. Nyumba na hiyo bei huwesmek
Peace in our Homeland.
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DBLyon
#11 Posted : Wednesday, July 30, 2014 2:09:58 PM
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Joined: 5/28/2014
Posts: 149
Location: Nairobi
You can look at Suraya's Loneview apartments in Mlolongo. They look quite nice and they have walled off the development so the environment is quite good. They have 2br apartments for 4.9M. They are almost complete. They had maisonettes too, but right now the prices must have gone up tremendously for even the 3br with DSQ apartments now go for 7.2M.

Come to think of it, the DSQ costs 1M. smile. The 3br without a DSQ is 6.2M.

Link to the prices: http://www.suraya.co.ke/...view-apartments?start=5

Link to the maisonettes (Sold out): http://www.suraya.co.ke/...cts/loneview-maisonettes
When you live for others' opinions, you are dead.

- Carlos Slim Helu
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DBLyon
#12 Posted : Wednesday, July 30, 2014 2:13:25 PM
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Location: Nairobi
What size of house are you looking for?
When you live for others' opinions, you are dead.

- Carlos Slim Helu
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AE
#13 Posted : Wednesday, July 30, 2014 3:57:05 PM
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Joined: 7/28/2014
Posts: 14
DBLyon wrote:
What size of house are you looking for?



I'm looking for a three bedroom. I know my budget is low but I will shop to see what I can get.
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westkate
#14 Posted : Wednesday, July 30, 2014 5:35:50 PM
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Joined: 5/3/2014
Posts: 133
Location: nairobi
its really difficult to see someone even raising 5m cannot get a better deal in nairobi. meaning prices are very high and keep on skyrocketing.
my take to this is look for a land in kitengela,or kamuru and buy a piece at 1.2m and use the rest cash to build your home. make sure to get a land with title the rest is pure headache.
wish you lack .
westkate
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Pesa Nane
#15 Posted : Wednesday, July 30, 2014 6:50:13 PM
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Joined: 5/25/2012
Posts: 4,105
Location: 08c
AE wrote:

Hi Wazuans;

I wish to obtain a mortgage from my employer. The mortgage is at a favorable rate of 5%. I intend to take 5 Million and repay it in 10 years.

What are the options available within a 20Km radius from the NRB city centre?

I would prefer stand alone units.

Erdemann's GreatWall Apartments Phase 3. Ready for occupation in August. Selling 3 Bedroom @ Ksh. 6.35M Drool Drool Drool
Pesa Nane plans to be shilingi when he grows up.
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webish
#16 Posted : Friday, August 01, 2014 11:31:03 AM
Rank: Member


Joined: 10/19/2009
Posts: 671
Location: Nairobi
AE wrote:
webish wrote:
AE wrote:

Hi Wazuans;

I wish to obtain a mortgage from my employer. The mortgage is at a favorable rate of 5%. I intend to take 5 Million and repay it in 10 years.

What are the options available within a 20Km radius from the NRB city centre?

I would prefer stand alone units.


You will probably only get Apartments for that budget.. Some of which are actually good bargains..

Must it be Stand alone?


I can consider apartments too. Just name the good ones; I will visit them and evaluate.


Would suggest you make a visit along Mombasa Rd and view the ones coming up. I realize, there's so many "good value" apartments being built but do not get attention on media/internet. Go to the ground, if you see a site, ask to walk in, and get as much information as possible.

I was surprised NHC/KBS was selling the "Precious Gardens" apartments along Naivasha Rd.. Was sth like 4M, and plan is for Phase II now. Please call them and find out ASAP..<-----

The below, i'm not sure whether are still On for sale..
- Sheshe Gardens
- Five Star Gardens
- Greatwall Apartments (as mentioned below).
- THe Safaricom Project in Mlolongo (i forget name).
- 360 Apartments by Kings Developers..

HINT: Don't get tired, keep looking (everywhere). There's a good deal out there for you.

Life is joy, death is peace, but the transition is very difficult.
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webish
#17 Posted : Monday, March 02, 2015 10:22:26 AM
Rank: Member


Joined: 10/19/2009
Posts: 671
Location: Nairobi
webish wrote:
AE wrote:
webish wrote:
AE wrote:

Hi Wazuans;

I wish to obtain a mortgage from my employer. The mortgage is at a favorable rate of 5%. I intend to take 5 Million and repay it in 10 years.

What are the options available within a 20Km radius from the NRB city centre?

I would prefer stand alone units.


You will probably only get Apartments for that budget.. Some of which are actually good bargains..

Must it be Stand alone?


I can consider apartments too. Just name the good ones; I will visit them and evaluate.


Would suggest you make a visit along Mombasa Rd and view the ones coming up. I realize, there's so many "good value" apartments being built but do not get attention on media/internet. Go to the ground, if you see a site, ask to walk in, and get as much information as possible.

I was surprised NHC/KBS was selling the "Precious Gardens" apartments along Naivasha Rd.. Was sth like 4M, and plan is for Phase II now. Please call them and find out ASAP..<-----

The below, i'm not sure whether are still On for sale..
- Sheshe Gardens
- Five Star Gardens
- Greatwall Apartments (as mentioned below).
- THe Safaricom Project in Mlolongo (i forget name).
- 360 Apartments by Kings Developers..

HINT: Don't get tired, keep looking (everywhere). There's a good deal out there for you.


Hey,

What's up? An update for us on what you chose eventually?

Life is joy, death is peace, but the transition is very difficult.
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Dawnwoods
#18 Posted : Tuesday, March 03, 2015 1:52:35 AM
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Joined: 5/22/2014
Posts: 56
Try Loneview apartments(Mlolongo).. they say 74meters squared. Great for starters. 2 Bedroomed for the kind of money you have.
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Gordon Gekko
#19 Posted : Tuesday, March 03, 2015 5:12:48 AM
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Joined: 5/27/2008
Posts: 3,760
@AE, I'm assuming this will be your first house. You are making the classic mistake most young people make and end up not buying at all.
You want to buy today what you can see yourself in 20 years from now.
Doesn't work that way. Start with a hovel you can afford, trade it in after a few years (and capital gains) for a better hovel. Trade that in again after another few years, keep doing it till you end up with your 'stand alone'.
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bazuka
#20 Posted : Tuesday, March 03, 2015 7:02:17 AM
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Joined: 1/26/2014
Posts: 14
Gordon Gekko wrote:
@AE, I'm assuming this will be your first house. You are making the classic mistake most young people make and end up not buying at all.
You want to buy today what you can see yourself in 20 years from now.
Doesn't work that way. Start with a hovel you can afford, trade it in after a few years (and capital gains) for a better hovel. Trade that in again after another few years, keep doing it till you end up with your 'stand alone'.


Maybe he wants something he can rent out later and not necessarily keep trading. If he keeps trading he might retire with the house he lives in as his only investment.
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