Wazua
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A Car or A House?
Rank: Veteran Joined: 1/10/2015 Posts: 961 Location: Kenya
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obiero wrote:sqft wrote:newfarer wrote:obiero wrote:sparkly wrote:NewMoney wrote:newfarer wrote:emlyn ngwiri wrote:as investors, its always good to invest in appreciating assets.
a car is depreciating while a house will always appreciate even though it is in mandera.
get the house then the car will done later Good advice given 9 years ago .hope as many wazuans took it. Actually it's a very bad advice. First of all, many first car buyers' budget can not get any worthy house, maybe some plot in the deep outskirts. If you can afford a house, you can definitely afford to get both at the same time For a small minority, it can make sense to get the house first (e.g interested in living in the deep outskirts or small towns) but for the rest of us, a car is better to have before the house. It worked for me and many others. A house is also a depreciating asset. Wewe ulisomea wapi. I am interested in your world views Hata Mimi nataka kuonyeshwa nyumba moja imedepreciate in the last 10 years in Kenya. Factually .as in kwa ground Its the land on which the house stands that appreciates, otherwise its true a building can become derelict and even become uninhabitable and need demolition, but the land remains valuable. The plot can also be redeveloped to make one even more money. That is why houses built on own plots appreciate faster than apartments which are built on communal unsalable land. You have all seen those neglected bungalows sitting on land worth hundreds of millions in upmarket areas of nairobi. The structure could be worth 0.5m but the land is worth 500m. Semantics. The question was a car or house.. Tufungue thread ingine ya land or house The comparison is very subjective. Is it between a 7m prado vs 7m apartment or between the 7m apartment and a 400k car? Proverbs 13:11 Dishonest money dwindles away, but whoever gathers money little by little makes it grow.
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Rank: Elder Joined: 6/23/2009 Posts: 14,252 Location: nairobi
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sqft wrote:obiero wrote:sqft wrote:newfarer wrote:obiero wrote:sparkly wrote:NewMoney wrote:newfarer wrote:emlyn ngwiri wrote:as investors, its always good to invest in appreciating assets.
a car is depreciating while a house will always appreciate even though it is in mandera.
get the house then the car will done later Good advice given 9 years ago .hope as many wazuans took it. Actually it's a very bad advice. First of all, many first car buyers' budget can not get any worthy house, maybe some plot in the deep outskirts. If you can afford a house, you can definitely afford to get both at the same time For a small minority, it can make sense to get the house first (e.g interested in living in the deep outskirts or small towns) but for the rest of us, a car is better to have before the house. It worked for me and many others. A house is also a depreciating asset. Wewe ulisomea wapi. I am interested in your world views Hata Mimi nataka kuonyeshwa nyumba moja imedepreciate in the last 10 years in Kenya. Factually .as in kwa ground Its the land on which the house stands that appreciates, otherwise its true a building can become derelict and even become uninhabitable and need demolition, but the land remains valuable. The plot can also be redeveloped to make one even more money. That is why houses built on own plots appreciate faster than apartments which are built on communal unsalable land. You have all seen those neglected bungalows sitting on land worth hundreds of millions in upmarket areas of nairobi. The structure could be worth 0.5m but the land is worth 500m. Semantics. The question was a car or house.. Tufungue thread ingine ya land or house The comparison is very subjective. Is it between a 7m prado vs 7m apartment or between the 7m apartment and a 400k car? Captain. By the time one buys a 7m car he/she must have a high net worth. Probably over 30m
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Rank: Elder Joined: 9/23/2009 Posts: 8,083 Location: Enk are Nyirobi
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sqft wrote:newfarer wrote:obiero wrote:sparkly wrote:NewMoney wrote:newfarer wrote:emlyn ngwiri wrote:as investors, its always good to invest in appreciating assets.
a car is depreciating while a house will always appreciate even though it is in mandera.
get the house then the car will done later Good advice given 9 years ago .hope as many wazuans took it. Actually it's a very bad advice. First of all, many first car buyers' budget can not get any worthy house, maybe some plot in the deep outskirts. If you can afford a house, you can definitely afford to get both at the same time For a small minority, it can make sense to get the house first (e.g interested in living in the deep outskirts or small towns) but for the rest of us, a car is better to have before the house. It worked for me and many others. A house is also a depreciating asset. Wewe ulisomea wapi. I am interested in your world views Hata Mimi nataka kuonyeshwa nyumba moja imedepreciate in the last 10 years in Kenya. Factually .as in kwa ground Its the land on which the house stands that appreciates, otherwise its true a building can become derelict and even become uninhabitable and need demolition, but the land remains valuable. The plot can also be redeveloped to make one even more money. That is why houses built on own plots appreciate faster than apartments which are built on communal unsalable land. You have all seen those neglected bungalows sitting on land worth hundreds of millions in upmarket areas of nairobi. The structure could be worth 0.5m but the land is worth 500m. Thanks @sqft for your sensible reply. In fact if someone gives me the option between a vacant plot in Upperhill or one with those old bungalows, I will take the vacant one because of the costs associated with knocking off the old bungalow for redevelopment. Some people are trying too hard to push village wisdom on this forum. Life is short. Live passionately.
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Rank: Elder Joined: 9/23/2009 Posts: 8,083 Location: Enk are Nyirobi
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amorphous wrote:sqft wrote:newfarer wrote:obiero wrote:sparkly wrote:NewMoney wrote:newfarer wrote:emlyn ngwiri wrote:as investors, its always good to invest in appreciating assets.
a car is depreciating while a house will always appreciate even though it is in mandera.
get the house then the car will done later Good advice given 9 years ago .hope as many wazuans took it. Actually it's a very bad advice. First of all, many first car buyers' budget can not get any worthy house, maybe some plot in the deep outskirts. If you can afford a house, you can definitely afford to get both at the same time For a small minority, it can make sense to get the house first (e.g interested in living in the deep outskirts or small towns) but for the rest of us, a car is better to have before the house. It worked for me and many others. A house is also a depreciating asset. Wewe ulisomea wapi. I am interested in your world views Hata Mimi nataka kuonyeshwa nyumba moja imedepreciate in the last 10 years in Kenya. Factually .as in kwa ground Its the land on which the house stands that appreciates, otherwise its true a building can become derelict and even become uninhabitable and need demolition, but the land remains valuable. The plot can also be redeveloped to make one even more money. That is why houses built on own plots appreciate faster than apartments which are built on communal unsalable land. You have all seen those neglected bungalows sitting on land worth hundreds of millions in upmarket areas of nairobi. The structure could be worth 0.5m but the land is worth 500m. Very funny! So if sqft bought a 1/4 acre plot in Syokimau, Katani Rd in 2015 for 4m, built a 15m maisonette on it (market price) and then sold it for 20m in 2020 when the price of 1/4 is 6m, the bulk of the capital gain is from the "land appreciation" alone sio? :- Of course. @amorphous it's very easy to make an argument sound intelligent by dilating but the fact remains House depreciates, Land appreciates infact the useful life of most buildings is 40-50 years unless major renovations are done to extend the useful life. Life is short. Live passionately.
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Rank: Member Joined: 5/15/2019 Posts: 687 Location: planet earth
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Sparkly, Kindly ask for a refund from that ramshackle polytechnic where they failed to teach you the difference between depreciation and a depreciable asset for accounting purposes during accounting 101  https://www.yourinvestme...t-or-fiction-142813.aspxIn the final analysis, it all boils down to sheer plain old hard work and dogged persistence. Nothing more, nothing less!!
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Rank: Elder Joined: 9/23/2009 Posts: 8,083 Location: Enk are Nyirobi
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[quote=amorphous]Sparkly, Kindly ask for a refund from that ramshackle polytechnic where they failed to teach you the difference between depreciation and a depreciable asset for accounting purposes during accounting 101 https://www.yourinvestme...-or-fiction-142813.aspx[/quote] @amorphous aka @Mugundaman good to see you back. Life is short. Live passionately.
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Rank: Member Joined: 5/15/2019 Posts: 687 Location: planet earth
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sparkly wrote:[quote=amorphous]Sparkly, Kindly ask for a refund from that ramshackle polytechnic where they failed to teach you the difference between depreciation and a depreciable asset for accounting purposes during accounting 101 https://www.yourinvestme...-or-fiction-142813.aspx[/quote] @amorphous aka @Mugundaman good to see you back. You can call me Daniel Toroitich arap Moi, The Loch Ness monster, Mugundamann and even the Pope if you so wish, as long as you acknowledge your glaring ignorance on matters real estate In the final analysis, it all boils down to sheer plain old hard work and dogged persistence. Nothing more, nothing less!!
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Rank: Elder Joined: 9/23/2009 Posts: 8,083 Location: Enk are Nyirobi
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amorphous wrote:sparkly wrote:[quote=amorphous]Sparkly, Kindly ask for a refund from that ramshackle polytechnic where they failed to teach you the difference between depreciation and a depreciable asset for accounting purposes during accounting 101 https://www.yourinvestme...-or-fiction-142813.aspx[/quote] @amorphous aka @Mugundaman good to see you back. You can call me Daniel Toroitich arap Moi, The Loch Ness monster, Mugundamann and even the Pope if you so wish, as long as you acknowledge your glaring ignorance on matters real estate It's ok @mugundaman, enjoy yourself. Engaging with an infantile like yourself is a waste of energy. Life is short. Live passionately.
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Rank: Member Joined: 5/31/2011 Posts: 262
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newfarer wrote:A house wins it .going by the current uncertain COVID-19 period. Very true. Chicken are coming home to roost. You lose money chasing women, but you never lose women chasing money - NAS
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Rank: Member Joined: 7/10/2014 Posts: 145 Location: Nairobi
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Kenyan Oracle wrote:newfarer wrote:A house wins it .going by the current uncertain COVID-19 period. Very true. Chicken are coming home to roost. Interestingly some of tenants drive carmodels which their landlords hardly have. "Blowing out someone else candle won't make yours shine brighter"-Anonymous
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