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Why renting a home in Kenya is better than taking a mortgage

What you need to know:

  • Mortgages in Kenya are currently averaging at about 11 to 13 percent
  • If you take a mortgage for 15 years, you will end up spending so much a colossal sum on a house, and thereby deny yourself a chance to create a solid capital base

Homeownership is a major deal for most of us. Owning a home or property is seen as the hallmark of financial achievement. The high accord with which homeownership is regarded has also spurred the growth of mortgages.

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