My salary is Sh. 25,000, How can I build two bedroom house without taking loan?

I earn a monthly salary of Sh. 25,000. How can I construct a two-bedroom house without resorting to loans?

To begin, it’s crucial to grasp the key determinants affecting the construction expenses for a two-bedroom house, including:

1. Location: The cost of building in rural areas tends to be more economical than in urban settings.
2. House Type and Design: Elaborate designs necessitate greater resources in terms of both materials and skilled professionals, thereby increasing construction costs compared to simpler designs.
3. Fixtures: The expenses associated with fittings like mirrors, lighting, and custom cupboards fluctuate based on their quality and type.
4. Ceiling Height: Houses with taller floor-to-ceiling measurements require more labor and materials, thereby escalating construction expenses compared to structures with lower heights.
5. Professional Services: Involving contractors, engineers, and interior designers adds to the overall construction expenditure.”

This understanding of cost determinants will be vital in planning and executing the construction of a two-bedroom house within your financial means.

Upon thoroughly comprehending these pivotal factors, you’re presented with three strategic avenues to materialize the construction of your envisioned home sans the need for a loan:

Savings Strategy: If you find yourself in a stable employment situation, your primary recourse involves a meticulous assessment of your monthly expenses. Embark on a disciplined savings plan, setting aside an amount ranging between Ksh 5,000 to Ksh 10,000 monthly.

 This approach allows you to initiate your ambitious construction project within a reasonable time frame of 3-4 years. Alternatively, consider expanding your skill set and augmenting your earnings through a supplementary side hustle.

 To efficiently manage your project’s financial scope within a shorter period of two years, consider a phased approach to procure necessary materials:

January and February: Procure bricks or blocks.

• March and April: Purchase essential sand supplies.
• May and June: Invest in doors and windows.
• July and August: Acquire hardcore and ballast.
• September and October: Secure necessary timber.
• November and December: Procure roofing sheets.

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Buy crucial resources like cement and labor

Allocate each month in the second year toward obtaining crucial resources like cement and labor. Another tactical step involves commencing with the construction of a single room, designed with the foresight of future expansion.

By gradually expanding while residing in the completed room, you effectively minimize rental expenses. Concurrently, embark on a quest to identify a skilled and reputable contractor, often referred to as a “fundi,” to provide an accurate cost estimate for the construction of a two-bedroom house.

Procure building materials gradually

 Procure building materials gradually, aiming to accumulate sufficient resources within a span of two to three years. Meanwhile, capitalize on any available idle land by cultivating short-term crops, such as potatoes, to generate supplemental income.

Begin with a Single Room: An alternate yet equally viable approach entails the initial construction of a temporary structure that accommodates a single room with a preconceived expansion plan.

Once this initial phase is complete, consider inhabiting the room to curtail rental expenses, thereby enabling a gradual and steady expansion process.

 Simultaneously, invest efforts in identifying a skilled contractor for a comprehensive cost estimate to build a two-bedroom house. Conduct thorough research into the costs of essential construction materials and gradually procure and store them.

Leverage any available idle land by cultivating short-term crops, like potatoes

 By diligently accumulating the necessary resources within a window of two to three years, you’ll be equipped to realize your vision of constructing the envisaged two-bedroom house. Additionally, leverage any available idle land by cultivating short-term crops, like potatoes, to supplement your income and bolster your financial resources.

Consider Opting for a Loan

Consider Opting for a Loan: While saving diligently is commendable, achieving the required capital might necessitate an extended timeline. In such scenarios, financial institutions, particularly SACCOs, provide an avenue for expedited financial support.

By committing to saving Ksh 9,000 per month in a SACCO account, you’ll amass Ksh 108,000 annually.Typically, SACCOs extend loans that range from 3-5 times your accumulated savings. With a savings pool totaling Ksh 108,000, you could potentially secure loans amounting to up to Ksh 500,000.

Numerous real estate companies offer diverse products facilitating house construction with an initial investment as minimal as Ksh 500,000. Assuming a SACCO provides a repayment window spanning 4-6 years, with monthly installments pegged at Ksh 9,000, this financial option emerges as an attractive prospect.

Utilize the initial loan to procure land, settle its repayment within 3-4 years, and subsequently seek another loan dedicated explicitly to fund the construction phase.

Average Construction Costs: Outlined below are approximate costs for the construction of a two-bedroom house, providing a comprehensive breakdown of essential expenses:

• Foundation: Estimated costs range between Ksh 80,000 to 200,000.
• Roofing: Costing approximately Ksh 490 to 3,500 per square meter.
• Cement: Totaling Ksh 355,000 for an equivalent of 546 bags.
• Windows: Ranging in cost from Ksh 3,000 to 10,000 per piece.
• Doors: Estimated between Ksh 10,000 to 15,000 each.
• Finishing: Averaging at Ksh 30,000 per square meter.
• Plaster: Estimated costs range between Ksh 2,000 to 2,400 per square meter.
• Painting: Approximating between Ksh 900 to 2,000 per square meter.
• Flooring: Ranging from Ksh 900 to 4,500 per square meter.