Reasons Why The Current Generation Are No Longer Interested In Constructing Homes In Ancestral Villages (Ongata Rongai Millennial Speaks Out)

Having a home in the village was such a strong statement in the 1990s. The people who worked in the major town looked forward to that moment when they would build a home next to their parents. Real estate experts now say that there is a big shift connecting this old-age tradition especially Millennial Kenya (people aged 18 to 33). Although their parents find it very fashionable, in this digital era, the millennial are no longer interested in building homes for the holiday in the village. If this observation is true, you might wonder where they are taking their money or what brought about this paradigm shift. 
Investing Differently
The young people claim that it does not make sense economically to construct a house they will be using once a year or never at all just to satisfy villagers expectations. They would rather build a home for their parent with extra rooms for themselves to use for the few days they will be visiting home. Those that come from Nairobi nearby counties such as Rongai (commonly referred to as Nairobi bedrooms) are taking the rare opportunity to build houses for sale in Rongai. They are looking for an income generating project that can bring them money while they are still working in their day to day jobs.
Investing for the future
Most of these young generations have homes in the city where they claim to live all their lifetime. They claim that they have no attachment to the village and never intend to live there once they retire. Once they built their retirement home, they are channeling their energy to investing their money for their future. This is the reason many young people are the one who owns rental houses in Rongai.
No Land To Inherit
Due to increase in population, many of them don't even have land to inherit. Even if they wanted to build a home, they have nowhere to build. This has made them put more effort into creating wealth so that they can acquire land they can build a home for their family. This has made rental houses in Rongai to have a very high demand. Some said that they have decided to stay in a one bedroom house in Rongai and save some money so they can buy land in Rongai so they can have a place to call home.
Intermarrying
In the early days, people used to marry across to the village, build a house and settle down in the village. Even if they relocated to town, they would still retain their village house. With the current urbanization where people are marrying across the different social divides, it only makes sense for them to build a house in a place that is comfortable for both of them.
Conclusion
In the early days, going to big cities and make a life out of the city back then was considered to be a big achievement and everyone used to admire you. Now that half the village has relocated to the towns, no one in the village to glorify you leading to this current trend. Also, the exposure and desire to have the finer thing in life has also largely contributed to this changing trend.
Disclaimer

While one of the major benefits of owning a home in the village is to save you a lot of embarrassment when retreating for the festive season, a home in the village can be a launching pad could thing go south in the city.

Comments

Post a Comment

Popular posts from this blog

Procedure for subdividing land in Kenya

Land is usually subdivided into pieces to make it easier for selling and or developing. Besides, if you want to get higher returns, it's better to subdivide your land into smaller portions instead of selling it as a block. Here are some reasons for subdividing land; To ensure every subplot have adequate space for infrastructure and access roads. To ensure there is a coordinated and planned development to avoid scatters and uncontrolled developments. To ensure the recommended populations density can be served by the available facilities. To ensure the respective county government and national government share the enriched value that comes from the subdivision of land Steps of Subdividing the Land The first step you need to take is to conduct a title deed search at the local land registry. This process requires a copy of the title deed number, tax pin card, and your identity card. The search is vital as it will ascertain the land ownership. The process takes less than three
Read more

Five Reasons It Is Not the Right Time to Buy a House and Five Reasons Why It is

Buying a home is everyone's dream 😄 . However, if you buy one when not ready, you can face major financial setbacks. For instance, if you overspend on it, you might become a house poorer because the mortgage payment may be too big for you. This might lead to falling short on your monthly bills or become a big failure if working toward your long-term financial goals. You must buy a home for the right reasons. Buy a house because you are ready and not because you feel like you need to have one at a certain time in your life. Read here 9 things to consider before buying a home Here are five reasons you should not buy a home and five reasons why buying a home might be a good move when faced with a tough decision whether to buy or rent. 1.        You Qualify For a Mortgage Even if you qualify to get a mortgage, that does not mean you are ready to buy a house. It is always a good idea to address the debt part or spending issue before purchasing a home. Set up a budget so you k
Read more

2020 Real Estate Trends: All You Need To Know

Image
Trend# 1: Home Prices Will Rise Slowly with fewer offers If you are keen on the house price in 2018 and 2019, you can bear me witness that home prices made a giant 10% jump. Wow! However, it may be a different story coming year. It's estimated that home prices will rise in 2020 but at a much slower pace while the number of homes for sale is expected to rise with only 2%. What is the reason ? One major contributor is overall economic uncertainty, and another part of the slowdown is due to the high fees titling process that hinders mortgage uptake. The combination is enough to discourage home-buyers who have a desire to purchase a home. However, the market still has eager buyers searching for newly built homes. The good news is, it is estimated that the number of newly constructed homes will increase by 8% in 2020. The bad news is, there will be fewer homes in some areas. Besides the construction companies lacks the manpower to keep up with the increasing demand.
Read more