aiii kirk boss..kwani how much commission have u been promised if u sell one of these digs..ama uve been wekewad a ka servants quarters aside (inclusive of a mboch called waithiegono) if u sell four ? ;D
LMAO.. Waithiageni.. that name makes me laugh!!
@""""""" and JLJ
I stand to gain but that is not the point. They are affordable and just trying to help...
JLJ says he would never buy a house abroad and take 30 yrs to pay for it. The thriving economy abroad is based on debt and we Kenyans are mostly allergic to debts. For most part we choose to stay subsistent. Rich guys like D. Trump have declared bankruptcy leaving people who don’t understand what that really means think that he is broke, but in actual sense saves himself lots of money.
Coming back to buying or not buying for us immigrants, it depends on your understanding of buying/not. Lots of us are here on temp base, make money and go back rich. If the bottom line is money, I say buying is a good idea. It is a safe and long term investment, and like JLJ said, a source of income in collateral form but here ulaya, most importantly, EQUITY, and also, to save on TAXES. And we are not even going into the opulence, luxury and endless hanyes without your neighbors complaining about noises (unless you live next to karucy) as when you live in an apartment; barbecues in the backyard and all. Now,About 30 yrs of paying. This always scare people but it’s not a jail term you must serve! Real estate is going maafakincrazy nowadays. You buy a piece of property for a dollar and sell it in a year’s time for double the amount! And if it was your primary living premises, no taxes!!!! So, needless to say, in 30 years you can buy and sell 30 houses. If you wanna go back home in 5, 10 years, you still sell for a profit, draw on equity, borrow against it and build or buy one at diggz, for cash! Aint too shabby. Some of the most successful guys in UK have properties in Florida. Which means if you wanna go back home you can still keep your property and live in Nairobi, Timbuktu or Baghdad. People own properties back home na wako ulaya.
Here is a table to illustrate benefits of buying and renting. You can start with Jopa Villas!
Current Rent: $750
Purchase Price of Home: $150,000
Percentage of Down Payment: 10%
Length of Loan Term (years):30Yrs
Interest Rate: 7.5%
Years You Plan to Stay in This Home:10
Yearly Property Tax Rate:1%
Yearly Home Value Increase Rate: 2%
Result Returned: Rent
Buy
Price of Home After Appreciation:$182,849
Remaining Balance After 10 Years:117,340
Equity Earned: 65,000
Tax Savings (at 28%): $32,549
Avg. Monthly Payment Over Time:When u rent:$834Avg. Monthly Payment Over Time:When you Buy:$550
Total Payment:Rent =$100,080
Total Payment:Buy =$66,017
Total Savings On Buying:$34,065