Home SK - Stocks, Property, Investment Chamas - Investment Groups BIZ - Small Business Soko - Market Wazua Life About Wazua
SIGN IN REGISTER
Tuesday, Aug 20, 2019
Investor
We’re investing funds for profit. Join us and wazua!
FEATURE  

LATEST DISCUSSIONS
Centum 2019/2020 [21]
DTB Group FY 2018 [13]
Housing Finance: HFCK a diamond in the rough [1915]
Kenya Economy Watch [2161]
M-Akiba treasury bonds via mobile [375]
Kenya Airways...why ignore.. [13477]
Why dustbowl is the future [340]
Equity Bank FY 2018 net profit up 5% [61]
CIC Insurance 2019 [14]
Safaricom 2019/2020 [31]
Exchange Bar: Results forecast [2019]
Madness at the NSE [1774]
Banda Homes et al [87]
Potential merger NIC + CBA [146]
KCB 2018 and Beyond [345]
 
Forum Jump








Welcome Guest Search | Active Topics | Log In | Register

Buying an apartment in Nairobi
BabaZero
#1 Posted : Thursday, May 02, 2013 9:31:15 AM
Rank: New-farer


Joined: 5/2/2013
Posts: 16

I've gotten to that point where I think I should say goodbye to the landlord and get my own place. Working near the CBD means I would prefer something as close as possible.

I have been doing my survey lately on properties around town and landed on Imara Gardens. They are spacious and quite well done and going for 6.8m for 2br and 7.9m for 3br (both with DSQ).

What do wazuans think? Is this a good deal? I would just like to know your thoughts on what you think would be a prudent move?

If you have other properties in mind that you think would be worthwhile to look at, then I would really appreciate.

Just an FYI - Am not looking to go the mortgage way because I still believe 15% is too high.
BabaZero
#2 Posted : Monday, May 06, 2013 2:32:06 PM
Rank: New-farer


Joined: 5/2/2013
Posts: 16
Is it that I asked this in the wrong forum or do I need a secret code to get some kind of response on this Sad ?
Gordon Gekko
#3 Posted : Monday, May 06, 2013 5:51:51 PM
Rank: Elder


Joined: 5/27/2008
Posts: 3,760
You are going to live in it? I guess yes from the post.

How far away is your work place?

How far away is your wife's work place?

Where do your kids go to school?

The answer to these will enable you estimate your commute costs and time. If these costs still make your budget manageable, then move.

It is always a good thing to get your own roof, so go for it. If it is your first buy, don't buy big, buy manageable. You can always upgrade with time to what tickles your fancy.
BabaZero
#4 Posted : Monday, May 06, 2013 7:04:07 PM
Rank: New-farer


Joined: 5/2/2013
Posts: 16
Yes it's a first buy and yes am planning to live in it. Other possibilities, will be considered after that.

No wife yet, no kids yet.

Work place around Ngong road - Community.

So while Imara might not be far in terms of distance it is quite far in terms of time - that is really my biggest problem with the location - Traffic.

Since I posted the original question (and after going through a few posts on Wazua) I have started considering Thika road area as well seeing as it is not as affected by the traffic problem (or so I've heard).

Right now am really exploring all my options so whether it's building or buying am all ears!

PS - I dont have any plots yet so building will mean I have to buy then build.
Vj
#5 Posted : Monday, May 06, 2013 10:55:53 PM
Rank: New-farer


Joined: 9/6/2010
Posts: 97
Location: nairobi, kenya
Its always wise to buy your own home when you can.

The first thing I would advise you to do is work out the price of the apartment per unit area i.e price per square meter. This would make is easier for you to compare 2 different projects in terms of size, finishes and finally location. Size is a matter of perception to most novice buyers, and something developers take advantage of very often, you may end up paying significantly more for a 2 bedroom apartment per square meter.

Finishes should also be an important consideration. A house is not something you buy everyday and it is a significant investment, therefore you must ensure that you are getting your money's worth. look to see if the tiles are of 2nd grade, what kind of plumbing fittings have been used. Do the kitchen cabinets look like they'll fall any minute...alot of stuff you could check.

Also look out and see how the common areas have been done, look at the thickness of the paving blocks, if they are the thin light duty ones in an apartment project, then something is not right.
Ask about the management structure of the project once the ownership is transferred to buyers. What common amenities will be provided and how will they be maintained. What will be the monthly service charge?

Location is also extremely important in both current and future outlook. Find out if there is a likelihood of a new road/bypass coming up next to the project that will alleviate jams in the future. If you are to raise a family there are the required social amenities nearby e'g school, church. If you plan to rent in the future then it would be wise to find out the rental potentials of the area and the estimated rental yields against your investment.
Look at the security in the area, nearby amenities and the surrounding projects as they will give you good idea of the kind of people you will be living next to.

I think you should reconsider your decision on mortgages, indeed the 15% is high but you will benefit from increased gains in property appreciation. By this i don't mean for you to borrow as much as you can, borrow within your comfort zone and take advantage of leveraging.

Reading your post these are the few things I can say from the top of my head, if you have any specifics do ask.
Before you can be be old and wise, you must first be young and stupid.
brainstorm212
#6 Posted : Wednesday, May 29, 2019 10:20:41 PM
Rank: New-farer


Joined: 5/3/2019
Posts: 17
BabaZero wrote:

I've gotten to that point where I think I should say goodbye to the landlord and get my own place. Working near the CBD means I would prefer something as close as possible.

I have been doing my survey lately on properties around town and landed on Imara Gardens. They are spacious and quite well done and going for 6.8m for 2br and 7.9m for 3br (both with DSQ).

What do wazuans think? Is this a good deal? I would just like to know your thoughts on what you think would be a prudent move?

If you have other properties in mind that you think would be worthwhile to look at, then I would really appreciate.

Just an FYI - Am not looking to go the mortgage way because I still believe 15% is too high.


Imara Gardens is a very good choice, I lived there back when I was young, but I did had to leave the country because of a good job opportunity in Singapore. I'm a software engineer for 7 years now, and finally I'm able to buy a new apartment here - piermont-grand-ec

tony stark
#7 Posted : Monday, June 03, 2019 4:40:18 PM
Rank: Veteran


Joined: 7/8/2008
Posts: 839
brainstorm212 wrote:
BabaZero wrote:

I've gotten to that point where I think I should say goodbye to the landlord and get my own place. Working near the CBD means I would prefer something as close as possible.

I have been doing my survey lately on properties around town and landed on Imara Gardens. They are spacious and quite well done and going for 6.8m for 2br and 7.9m for 3br (both with DSQ).

What do wazuans think? Is this a good deal? I would just like to know your thoughts on what you think would be a prudent move?

If you have other properties in mind that you think would be worthwhile to look at, then I would really appreciate.

Just an FYI - Am not looking to go the mortgage way because I still believe 15% is too high.


Imara Gardens is a very good choice, I lived there back when I was young, but I did had to leave the country because of a good job opportunity in Singapore. I'm a software engineer for 7 years now, and finally I'm able to buy a new apartment here - piermont-grand-ec



Ehhh! Okay!
Unajua haujatusaidia ata kidogo! Wacha I stick to my lane in Kibera
Jon Jones
#8 Posted : Monday, June 03, 2019 7:51:21 PM
Rank: New-farer


Joined: 9/11/2015
Posts: 93
Location: Thika
tony stark wrote:
brainstorm212 wrote:
BabaZero wrote:

I've gotten to that point where I think I should say goodbye to the landlord and get my own place. Working near the CBD means I would prefer something as close as possible.

I have been doing my survey lately on properties around town and landed on Imara Gardens. They are spacious and quite well done and going for 6.8m for 2br and 7.9m for 3br (both with DSQ).

What do wazuans think? Is this a good deal? I would just like to know your thoughts on what you think would be a prudent move?

If you have other properties in mind that you think would be worthwhile to look at, then I would really appreciate.

Just an FYI - Am not looking to go the mortgage way because I still believe 15% is too high.



Imara Gardens is a very good choice, I lived there back when I was young, but I did had to leave the country because of a good job opportunity in Singapore. I'm a software engineer for 7 years now, and finally I'm able to buy a new apartment here - piermont-grand-ec



Ehhh! Okay!
Unajua haujatusaidia ata kidogo! Wacha I stick to my lane in Kibera


This guy is a scam artist, probably Nigerian/Indian etc but I am sure hajaelewa chenye umemwambia. Check his/her last posts since joining on 3rd May. Mara software engineer, mara owns a restaurant in Turkey etc etc posting links in every comment.
Since men have learned to shoot without missing, I have learned to fly without perching
Users browsing this topic
Guest
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.

Home | . .. Investor | .. . Groups | .. . SME | . . . Market | .. . Club SK | . ..... About Wazua | . .. Search | . ..Sitemap | . ..Support | . ..Disclaimer | . ..Privacy Policy | . ..Terms of Use | . .. Contact Us
Copyright © 2019 Wazua.co.ke. All Rights Reserved.