Thursday 24 Apr 2014

Buy a House for as Little as KES 999,000



Image source: buythislovelyhouse.webs.com

Image source: buythislovelyhouse.webs.com

MiNeco House, a local construction firm, is selling housing units for as little as KES 999,000. While the firm promises to deliver some of the most affordable deals on the market, their offers appear to be raising doubts. One source, in particular, was skeptical about the firm’s construction deals and has since called for a little more transparency.

“Our package deals are real,” said a real estate agent from MiNeco House. Speaking to Pesatalk during a recent interview, he noted that the cost of a unit depends on the amount of space it covers, measured in square meters. For instance, a 45 square meter 2 bedroom bungalow can cost anywhere between KES 999,000 and KES 1.3 million. Bear in mind that this is the cost of the house alone. The client is supposed to already own or otherwise lease a piece of property before actual construction can begin.

Despite the seemingly suspicious pricing, the offers may be legitimate. In fact, MiNeco may not be the cheapest offer on the market. Hot on the heels of the building and construction company is a similar project from the Suraya Property Group. The real estate development firm recently unveiled housing projects that range from as low as KES 900,000 for a bedsitter to as high as KES 2.85 million for a 2 bedroom en suite flat. However, this ongoing offer only applies to cash buyers.

Those who opt to take a mortgage on the Suraya housing units are expected to pay a 10% deposit. At the end of the mortgage term, they will have paid KES 1.05 million for the bedsitter and KES 3.1 million for the 2 bedroom flat.

Interlocking bricks

The firm’s Director, Sue Muraya, believes that the project, dubbed Sucasa (Spanish for “Your House”), will give those who are used to paying rent a chance to buy their very own homes. Groundbreaking for the venture already kicked off late last year and is scheduled for completion in early 2013.

Meanwhile, MiNeco’s projects  take 45 to 90 days to construct since they are made from interlocking blocks or bricks (For more on this, read Pesatalk’s Build Your House like a Jigsaw Puzzle).

Below is a list of some of the housing units that MiNeco has to offer:

Housing Unit Package Deal Cost Features
2 Bedroom Bungalow Standard KES 999,000 (45 square meters)KES 1.3 million (55 square meters) Lounge, Kitchen, Washroom, Porch
Deluxe KES 1.3 million (45 square meters)KES 1.6 million (55 square meters) Includes a Granite Kitchen, More Wardrobes and better Roofing Sheets
2 Bedroom Bungalow Standard KES 1.5 million (65 square meters) Lounge, Dining Room, Lobby, Kitchen, Washroom, Porch
Deluxe KES 1.8 million (65 square meters) Includes a Granite Kitchen, More Wardrobes and better Roofing Sheets
3 Bedroom Bungalow Standard KES 1.7 million (75 square meters)KES 2 million (85 square meters) Lounge, Dining Room, Lobby, Kitchen, 2 Washrooms, Porch
Deluxe KES 2.1 million (75 square meters)KES 2.4 million (85 square meters) Includes a Granite Kitchen, More Wardrobes and better Roofing Sheets
3 Bedroom Bungalow Standard KES 2.2 million (95 square meters) Lounge, Dining Room, Lobby, Kitchen, 2 Washrooms, Porch
Deluxe KES 2.7 million (95 square meters) Includes a Granite Kitchen, More Wardrobes and better Roofing Sheets
4 Bedroom Bungalow Standard KES 2.2 million (95 square meters)KES 2.4 million (105 square meters) Lounge, Dining Room, Lobby, Kitchen, 2 Washrooms, Porch
Deluxe KES 2.7 million (95 square meters)KES 2.9 million (105 square meters) Includes a Granite Kitchen, More Wardrobes and better Roofing Sheets
4 Bedroom Bungalow Standard KES 2.7 million (115 square meters) Lounge, Dining Room, Lobby, Kitchen, 2 Washrooms, Porch
Deluxe KES 3.2 million (115 square meters) Includes a Granite Kitchen, More Wardrobes and better Roofing Sheets
3 Bedroom Maisonette Standard KES 3 million (105 square meters) square meters) Lounge, Dining room, Lobby, Kitchen, 2 Washrooms, Front and rear porch.
4 Bedroom Masionette Standard KES 3.5 million (115 square meters) Lounge, Dining room,  Lobby, Kitchen, 2 Washrooms, Dressing Area (in the Master Bedroom),Front and rear porch, Terrace.

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