REAL ESTATE

3 Reasons Why It’s Cheaper To Buy Land And Build

Share
build or buy a house
House developers price the property in a way that will make them earn a profit on top of their total cost of construction. [ PHOTO / Fanaka ]
Share

Build or Buy? Many people dream about owning homes. Some think about owning homes, but they all grapple with whether to buy land and build or buy a ready house? Building a home is believed to be a costly affair but it depends on the location, and majorly the kind of house.

Today, I explore why is it cheaper to buy land and build that dream home!

It’s Affordable

Purchasing your own piece of land and building a house on it is cheaper compared to buying an already built house. This is because, when you choose to buy a ready house, the owner(s) price the property in a way that will make them earn profit, on top of their total cost of construction. This simply means you will pay more.

Purchasing a parcel of land along the Eastern Bypass with Fanaka Real Estate will cost you roughly Ksh2 million.  The cost of construction will bring the total to Ksh5 million as compared to buying a ready built house which will cost between Ksh7 million and Ksh10 million.

Here you can also use recycled construction material to have your house ready, which means that you don’t have to part with a lot of money to get construction material. This saves a great deal especially when you have neighbours who have just completed construction their own homes.

Buy a serviced plot

A building lot is land that has already been surveyed and bounded, and is set aside for construction. Real estate companies like Fanaka Real Estate offer these services and this saves you the cost of having to pay for clearing and other service costs. Such plots are usually ready for construction.

House design

When you choose to build, one usually goes for the design that suits their budget, and at the same time incorporates that which they desire most in their houses. A new home usually requires less maintenance which translates to saving money on repairs, because everything in the house is new. You also get to use construction materials that are efficient and this reduces the cost of utility bills.

See >> Real Estate Companies Offering Affordable Land in Nairobi

Written by
GLADYS SITUMA -

Gladys Situma is the Head of Digital Department at Fanaka Real Estate Ltd. Email: [email protected]

Leave a comment

Leave a Reply

Your email address will not be published. Required fields are marked *

PAST ARTICLES AND INSIGHTS

Related Articles
Stima Sacco
BUSINESSNEWSSACCOs

Stima SACCO Inches Closer to Top Spot as Balance Sheet Size Hits KSh 75.3 billion

Stima Deposit-Taking Savings and Credit Cooperative Society grew its balance sheet size...

KUSCCO HEADQUARTERS IN UPPER HILL, NAIROBI
BUSINESSNEWSSACCOs

KUSCCO Urged to Rebrand and Salvage its Tattered Image

KUSCCO (Kenya Union of Savings and Credit Cooperatives) should consider rebranding and...

Sanlam Allianz Life Insurance (Kenya) Limited Chief Executive Officer Ms. Jacqueline Karasha (left) joins Sanlam Allianz Holdings (Kenya) PLC Group CEO Dr. PatrickTumbo (centre) and SanlamAllianz General Insurance top manager
BUSINESSINSURANCEMARKETSNEWSSTOCKS

Sanlam Alliance Holdings( Kenya) Group Plc Net Earnings Hit KSh 959.3m

Sanlam Allianz Holdings( Kenya) Group Plc, formerly Sanlam Kenya Plc recorded a...

John Okulo poached from KCB to become Sidian Bank CEO
BUSINESSNEWSSMART MONEY

Sidian Bank Picks on John Okulo from KCB Group as its New CEO

Sidian Bank, a hitherto colourless Tier II lender, has appointed John Okulo...