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Should I sell my house?
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a4architect.com
#11 Posted : Wednesday, January 06, 2010 11:12:19 AM
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Joined: 1/4/2010
Posts: 1,668
Location: nairobi
U can kill 2 birds with 1 stone..continue living there as u develop the xtra space into rentals
As Iron Sharpens Iron, So one Man Sharpens Another.
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tuvok
#12 Posted : Wednesday, January 06, 2010 1:48:38 PM
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Joined: 5/2/2007
Posts: 536
Is there a restriction on the type of housing that can be built on the plot?
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wanyina
#13 Posted : Wednesday, January 06, 2010 2:20:43 PM
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Joined: 4/1/2008
Posts: 141
Good advice from friends,I would spare this hse,but look for other ways to increase your earnings towards,after paying yr morgage: ie develop the extra space in this plot for extra income...but the question arises again is there any restrictions in developing??Also as i read other options consider selling and take yr equity ..but with an idea that after you get yr equity of 1.5M buy a plot right away and start developing.....
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kyt
#14 Posted : Wednesday, January 06, 2010 7:30:49 PM
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Joined: 11/7/2007
Posts: 2,182
40,000 for rent on a 3 bed room!! wierdo??
LOVE WHAT YOU DO, DO WHAT YOU LOVE.
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kyt
#15 Posted : Wednesday, January 06, 2010 7:32:22 PM
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Joined: 11/7/2007
Posts: 2,182
why would i pay all that cash for a 3bd am still young though maybe things will change with age PS still in school, but still 40k eish!!!
LOVE WHAT YOU DO, DO WHAT YOU LOVE.
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bnti
#16 Posted : Thursday, January 07, 2010 5:03:15 AM
Rank: New-farer

Joined: 12/9/2009
Posts: 5
Location: nairobi
Kyt thats what 3bedroom houses go for, actualy thats on the lower side as u get within 2-3km radius from the cbd. Ul even b lucky to get one at that price. @ redondo id advise u to hold on to that hse til it appreciates enough to get enough profit to buy land and build. about the choice to move or not...
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akowally
#17 Posted : Thursday, January 07, 2010 7:44:15 AM
Rank: Veteran

Joined: 5/20/2008
Posts: 1,126
Location: Nairobi
I agree with Kyt, if you were to rent a three bedroom, you can look for one which goes for less than that...In Buru, which is a great, decent estate (banks, major supermarkets, post office, great schools, colleges e.g. Alliance Francais e.t.c.) you can get a three b/room for even as low as 25k and a four bedroom at 30k...



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avatar
#18 Posted : Thursday, January 07, 2010 8:00:27 AM
Rank: New-farer

Joined: 1/7/2010
Posts: 1
Location: Nairobi
Sell it!! And invest the money into buying real estate. (Another house and land). You have seen how fast land appreciates. In ten years time you can pay cash for a house in Karen. And since you are buying and selling houses, you will always have a house to fall back on just in case. Its what I'd do.
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Dizzy
#19 Posted : Thursday, January 07, 2010 8:28:08 AM
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Joined: 8/24/2007
Posts: 18
d'oh! Things to consider
1. How much time will you save if you move?
2. How much money do you save ob transport if you move?
3. The 5k profit per month plus saving on transport be sufficient to get you decent accommodation in the city?
4. Considering the time saved will it improve your life i.e time spent with family, time to study, time to carry out hustling?

For me I made the shift to the city 5 years ago and so far no regrets as I now say I have a fuller life.
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akowally
#20 Posted : Thursday, January 07, 2010 11:41:16 AM
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Joined: 5/20/2008
Posts: 1,126
Location: Nairobi
Great points Dizzy...the focus should also be on quality of life(GOD,family,personal time,energy,less stress) and not just monetary gain...moving to the city may end up killing both birds with one stone...but take all the above points into consideration
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