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July2016

#Where2buy ( Ruaka / Muchatha / Banana)

Post first published in July 9, 2014 I normally charge for this information but today am going to let the cat out of the bag. I got a phone call from my childhood friend’s mom. She asked me, “my son, where are people buying land?” I gave her several options[…]

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Highlights of The Matrimonial Property Act, 2013

        DEFINITIONS (Section 2)              1.1       “contribution” means monetary and non-monetary contribution including- domestic work and management of the matrimonial home; child care companionship management of family business or property; (See definition below) farm work;             1.2       “family business” means a business run for the benefit of the family and which generates income[…]

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To buy “OFF PLAN” or not?

Ever since Jane Wangui and her husband bought their home in Lower Kabete, Nairobi, it has been a cat-and-mouse game with the seller. For seven years, they have pursed the developer to hand over the land titles, to no avail. They have hired lawyers to follow up on the case,[…]

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The opportunity cost of owning a car in Nairobi

  Description Cost per month Monthly total Cost per year Sub total Total Cumulative Initial cost 1a Purchase a “new”  ex Japan car. 1,000,000 1b Install car tracking system, sound and rims 80,000 Running costs 2a Fuel of Ksh 500 per day to go to work and back 6 days[…]

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Why Kenyans are not taking mortgages + reality check

In this illustration, mortgage will mean borrowing from a bank or sacco to either buy land, build a house or buy an already built house. This is mostly based on the assumption that the young person is working for a company or organization that has already negotiated a very low[…]

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Are you ready to get fired?

In year 2014 alone, several companies have closed shop or fired massive numbers of employees in Kenya. Colgate Cardbury’s Eveready Unilever Tata Chemicals Cooperative Bank In the Nyayo days, the IMF, World Bank and other international organizations would weigh in on the government to retrench civil servants as pre requisites[…]

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#tobuyornot Thika Greens Golf Estate

Five years ago, I worked in Thika as a valuer. I wanted to be acquainted to all the developments in this fast growing town. One day I decided visit Thika Greens. Then, the only buildings in the compound was the site office and 3 model houses. Then ¼ acre plot[…]

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3% mortgages could ruin you

Jane, (Not her real name) called me last week and told me that she had been referred to me by her elder brother for advice on real estate. Jane was very excited about the 3% mortgage and car loans that the Government is giving to public officers. In fact, when[…]

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At what point should I STOP SAVING?

My people, the sons and daughters of Gikuyu and Mumbi are known to be super savers. Am sure we all have examples of men and women who are continuous savers and rarely get time to enjoy the money. Mr Kamau (not his real name) runs a successful business in Nairobi[…]

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