Wazua
»
Investor
»
Property
»
4 family (3 bed/2bath) flat budget Ksh. 5m
Rank: Member Joined: 10/8/2010 Posts: 446 Location: london
|
Well done guys. keep it up
|
|
|
Rank: Hello Joined: 5/10/2013 Posts: 4 Location: Cape Town South Africa
|
@penny well done for a good job and sharing. It gives some of us some inspiration,and then you had counted the cost and thing working to plan. Not easy always especially when you have to rely on savings which tinkle down little by little every month end - like me!
|
|
|
Rank: Veteran Joined: 7/3/2007 Posts: 1,635
|
Penny-Stocker wrote:
Good luck buddy! You definitely hit the nail on the head, starting is the hard part.....once the project is up, you $$$ priority shift because you have a project to complete! I am interested in seeing your house....looking for ideas about designing my own humble aboard.
I am always happy to share. Give me your email address and I'll send you what I have. "The opposite of a correct statement is a false statement. But the opposite of a profound truth may well be another profound truth." (Niels Bohr)
|
|
|
Rank: Member Joined: 10/31/2010 Posts: 154
|
Wakanyugi wrote:Penny-Stocker wrote:
Good luck buddy! You definitely hit the nail on the head, starting is the hard part.....once the project is up, you $$$ priority shift because you have a project to complete! I am interested in seeing your house....looking for ideas about designing my own humble aboard.
I am always happy to share. Give me your email address and I'll send you what I have. @Wakanyugi hit me up at stocker dot penny at gmail dot com“None but ourselves can free our minds.”
- Bob Marley
|
|
|
Rank: Member Joined: 10/31/2010 Posts: 154
|
Yet another update! That's where I am as of May 24th. What's left..... 1. Painting 2. Tiling 3. Kuweka vyo 4. Kuweka kitchen cabinets and wardrobes 5. Landscaping the compound 6. Putting up parameter wall         That's it for now folks! I'll post the final product soon with cost breakdown, ups and downs, advice, etc “None but ourselves can free our minds.”
- Bob Marley
|
|
|
Rank: Veteran Joined: 1/4/2010 Posts: 1,668 Location: nairobi
|
@penny stocker..Whats the plinth area of the buidings? How much have you spent so far? From the pics i can guesstimate that each unit is 130m2 so total area is 260m2. From the materials plus quality of workmanship, i can guestimate that the project will cost a total of 5.4m. Currently, its at 80% completion so it has costed you 4.3m. Am i plus minus 10 % right or wrong? As Iron Sharpens Iron, So one Man Sharpens Another.
|
|
|
Rank: Veteran Joined: 1/4/2010 Posts: 1,668 Location: nairobi
|
Penny-Stocker wrote:lietmach wrote:Congrats Pennystocker... A job well done.
2 questions: when you calculate the cost per square metre, what does it come to? Your total figure is rather encouraging
And I have an 8th piece at Polyview (makaburini) and my friends advice that spacious 2 bedroom would earn between 15 - 20k. How is it that you anticipate 30k for your units located 15km away cf mine 4km from CBD
I can demand 30K/month because of the following:
1. Three spacious bedrooms (two bathrooms - master one en-suite), spacious living room and a separate dining!
2. Location is Mamboleo. Pretty safe area and very fast developing.
Below is my floor plan! First floor is identical to ground floor. 
3. I have ample parking - talking of 6 cars!I'm hoping to have this done by July and occupied by August - we'll see if I make the deadline! from the floor plans, the area is 140m2 per floor=280m2 for both floors. Assuming a construction cost of kes 20k per m2, you will complete at 5.6m. Assuming 80% completion, this has costed you 4.4m. True or false? As Iron Sharpens Iron, So one Man Sharpens Another.
|
|
|
Rank: Elder Joined: 6/20/2007 Posts: 2,075 Location: Lagos, Nigeria
|
Wakanyugi wrote:Penny-Stocker wrote:
....I bet some people here on Wazua say they have projects kwa mdomo tu...why can't we all start posting our progress pics....!
@Penny-Stocker: you might recall I started my project in Ruiru at about the same time as you did. Mine was a personal simba, not rental, although I am getting tempted. Three bedroom maisonette with one guest room on a quarter acre plot. I am not able to post photos, but I can report that it is all roofed. What remains are the fittings, finishes and septic tank. So far it has cost me just under 4M - all savings. I have learned many things. For instance while Decra roofing is more expensive than clay tiles you make up for the extra cost through reduced roofing timber, utility and presentability. Some wise people on this board have often said that, when it comes to a building project, the most difficult thing is to start. Wise words. Don't wait to have all your ducks in a row - just start and new problems will suggest new solutions as you go. The fundi I hired turned out to be a god-send. Very efficient and honest fellow. I am also planning to construct two more units same size in about a years time. Thank you to the Wazua family for the inspiration Congrats @wakanyugi, hope you will also consider building some rental units for income now that you know the techniques. I am one of the "late converts" in real estate and my experience in the 5 past years has really paid off, though one should compliment with blue chip stocks to balance it. The wazua spirit as members is to educate and inform and learn from others within the limit of what we know in any chosen area irrespective of our differences in tribes, nationalities, etc. .
|
|
|
Rank: Member Joined: 10/31/2010 Posts: 154
|
a4architect.com wrote:Penny-Stocker wrote:lietmach wrote:Congrats Pennystocker... A job well done.
2 questions: when you calculate the cost per square metre, what does it come to? Your total figure is rather encouraging
And I have an 8th piece at Polyview (makaburini) and my friends advice that spacious 2 bedroom would earn between 15 - 20k. How is it that you anticipate 30k for your units located 15km away cf mine 4km from CBD
I can demand 30K/month because of the following:
1. Three spacious bedrooms (two bathrooms - master one en-suite), spacious living room and a separate dining!
2. Location is Mamboleo. Pretty safe area and very fast developing.
Below is my floor plan! First floor is identical to ground floor.
3. I have ample parking - talking of 6 cars!I'm hoping to have this done by July and occupied by August - we'll see if I make the deadline! from the floor plans, the area is 140m2 per floor=280m2 for both floors. Assuming a construction cost of kes 20k per m2, you will complete at 5.6m. Assuming 80% completion, this has costed you 4.4m. True or false? @ a4architect.com - What do you think of the design and the workmanship? I have spent around 4.6m. I don't have the correct figures in front of me right now. Hoping to spend around 800k more to finish it and have tenants in! “None but ourselves can free our minds.”
- Bob Marley
|
|
|
Rank: Member Joined: 10/31/2010 Posts: 154
|
young wrote:Wakanyugi wrote:Penny-Stocker wrote:
....I bet some people here on Wazua say they have projects kwa mdomo tu...why can't we all start posting our progress pics....!
@Penny-Stocker: you might recall I started my project in Ruiru at about the same time as you did. Mine was a personal simba, not rental, although I am getting tempted. Three bedroom maisonette with one guest room on a quarter acre plot. I am not able to post photos, but I can report that it is all roofed. What remains are the fittings, finishes and septic tank. So far it has cost me just under 4M - all savings. I have learned many things. For instance while Decra roofing is more expensive than clay tiles you make up for the extra cost through reduced roofing timber, utility and presentability. Some wise people on this board have often said that, when it comes to a building project, the most difficult thing is to start. Wise words. Don't wait to have all your ducks in a row - just start and new problems will suggest new solutions as you go. The fundi I hired turned out to be a god-send. Very efficient and honest fellow. I am also planning to construct two more units same size in about a years time. Thank you to the Wazua family for the inspiration Congrats @wakanyugi, hope you will also consider building some rental units for income now that you know the techniques. I am one of the "late converts" in real estate and my experience in the 5 past years has really paid off, though one should compliment with blue chip stocks to balance it. @young...buy some dividend paying stocks and you'll never look back! From your posts, I am assuming that you're in those already! I love real estate because it'll appreciate on top of collecting rent! “None but ourselves can free our minds.”
- Bob Marley
|
|
|
Wazua
»
Investor
»
Property
»
4 family (3 bed/2bath) flat budget Ksh. 5m
Forum Jump
You cannot post new topics in this forum.
You cannot reply to topics in this forum.
You cannot delete your posts in this forum.
You cannot edit your posts in this forum.
You cannot create polls in this forum.
You cannot vote in polls in this forum.
|