Apart from inheritance, the ways to your own house/home are:
1. Building a house yourself
– You buy land and build the house of your desire
– You purchase all materials and labour alone besides supervising the work (maybe alongside a consultant)
– It is time intensive, one might end up using a lot of money due to inadequate experience in procurement and actual construction.
2. Building a house via a contractor
– This is the middle ground. After buying land, you let an affordable experienced contractor to build you dream house/home
– In the year 2014, it took Koto Housing approximately 1 – 6 months to construct a prefabricated 2 bedroomed house (bungalow) in Nairobi and its environs with the construction cost ranging from KES 1.5 – 1.8 million. This included a stone fence but without the piece of land.
Construction cost: KES 17000 – 20000 per square metre, middle income housing ranged from 60 – 100 square metres while an eighth of an acre cost approximately KES 1 – 1.5 million in Nairobi’s suburbs.
3. Purchasing a finished house/home
– You buy a complete product (very limited chance for customisation)
– Tends to be time saving (do due diligence and use a professional to ascertain quality)
– Tends to be more expensive as the price includes the margin of the real estate developer
In late 2013, a bungalow standing on an eighth of an acre in Ongata Rongai suburb of Nairobi cost KES 7 million including stone fence and the piece of land (sold by By Nairobi Elite properties).
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