Home ownership for many young Kenyans has been a pipe dream especially for those who start off employment at entry level. Most of this young working class live in rental houses and of course, they pay rent at the end of every month, as well as paying for basic utilities like electricity and water. The problem lies here; for these young people, the idea of owning a home never really comes to you. Maybe until much later in life.
So now its five years down the line and even with a bit of saving, you still end up having many other priorities that have to be met – Tough luck. Thank God, with advancing trends in real estate, we now have the option of rent-to-own. Affordable housing right there. You can now rent out an apartment, live in it while you pay to own it on a monthly basis, taking you a step closer to owning a house.
So for the young working class, you just might have a shot at that studio apartment. It’s a good investment, trust me. You rent to own that apartment. Yes, a couple of years down the line, you might be starting a family, and you’ll need a bigger space. Probably by then, the studio apartment might start to seem like it wasn’t a good idea, but it certainly served its purpose. You own a studio apartment and so you could either choose to sell it, rent it out to someone, a young working class perhaps, or you could place it under Airbnb. A cash cow at your hands. While you get yourself a bigger space to accommodate your growing family.
The affordable housing idea isn’t as far-fetched as you may think. And it’s accommodating even the young working class it only needs you to start small and invest smart there are a variety of options. But first hire a Property Advisor from PMC Estates Ltd and we will help you to identify what works for you, for your budget and your long term goals.
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