The Intellisense of owning a home in kenya

There is a question which usually comes up when one is ready to have his own home,--should i buy a pre-built house,build one from scratch or take a home mortgage to do either of the above?
According to experts,one can save up to 25 per cent if he opted to build his house alone rather than buying a pre-built one.Building your house from scratch gives you the opportunity to incorporate your own specifications.
You may be exposed to a risk when you buy a pre-built house,if that house develops cracks after the transaction is over,you will have definately lost your money and no refund will be made on your money.

Be wary of home mortgages.Here in Kenya we have several banks which are on this bussiness.I wouldn't advice you to take a mortgage which you may end up living a miserable life.Some mortgages can cost you upto Ksh.25,000 per month for the next 20 years.

Justbefore you take a mortgage make sure just be sure it wouldn't disrupt your sleep in the near future.Its advisable you start saving before thinking about either building or buying your own house
Remember also also that developers and contractors who nowadays offer pre-built house are after profit and on the same route they may end up exploiting without yourself knowing.If you decide to buy one of these houses,its better to look for an expert opinion who can evaluate the cost of the house before you sign an agreement with these contractors.

If you can build your house on your own salary and your savings without taking a big loan,then that is better.But if you expect the mortgage companies to finance your home,before going on this route make sure that your salary is ''up to standard'' and you wont suffer latter