Tips on how to easily raise money and own a house in Kenya

It is a dream of every Kenyan to own his/her own house.

Today, every person who has some form of employment is looking at ways to save enough to enable them to buy a house – in this case a house in an urban area, not huko ushago.

Scroll through the internet and you will not miss one or two people asking how to own a house.

Here is a list of 5 tips you can use and be able to generate cash that will enable you to buy your own house, as highlighted by Nation.

Car parking lot

If you happen to own a piece of land/plot that is near a busy highway or road, you should consider turning it into a parking lot for cars.

Target long-distance trucks and matatus for overnight parking – this can easily stimulate more business openings like car-wash, repairs and spare parts shops.

With such businesses operating optimally, be sure to generate enough to buy that dream house.

Airbnb

Another way of making enough money to buy your own house is turning that housing unit you do not use into an Airbnb. Ofcos this is a new trend in town.

If that house sits on land that has a good view of a lake, a wildlife sanctuary and other physical features, or is it deep in the countryside where clients can retreat to unwind and make some memorable experiences, an Airbnb is something to consider.

You don't have to break the bank to put up modern edifices as you convert it into an Airbnb. You can be creative in terms of furnishing and interior decor, and focus on selling it as a unique vacation home.

Leasing

If that piece of land is in a strategic place, it will certainly attract businesses of all kinds. Suppose a firm is looking for a place to put up a godown, a depot or a franchise of their expanding business and you happen to own that place. Here, you'll be making money yearly without doing anything, and while doing so, your land will be appreciating in value. 

And because that firm is a popular brand, there's no doubt other businesses will be attracted to the place too. If your piece is in a place with an erratic network connection, think of a telco company as your customer and lease it for that mobile phone tower. The returns are guaranteed to be high annually.

Farming

With arable land fast diminishing due to population growth, areas that were once food secure have become food deficient. In some rural areas, large farms have been parcelled out into minuscule plots which have in turn been turned into residential estates. 

Consider doing research on innovative farming techniques for maximum yields. With technological innovation, an eighth of an acre can yield much more food products than an acre. 

A greenhouse in a small piece holding would give much more than an acre of an open field. The trick is to know the market well and do value addition to your products. 

Outdoor advertising

There's one thing that stands out about billboards along highways – they're designed to capture one's attention from afar. If your parcel of land is not far from the main road or highway, think about approaching a company or corporation that specialises in outdoor advertising.