Everyone longs to one day own a house of their own. The security and prestige that comes with knowing that you have a place of your own is indescribable.

Based on the fact that majority of Kenyans survive on less than a dollar a day, high house rents we are currently pay, high costs of living and the real estate boom in Kenya,  owning a home is next to impossible for most Kenyans.

I recently watched a feature on Al Jazeera where couples in the UK are moving back into their parents homes so that they can increase the rate at which they can save for their own homes. After doing my own research, I found that this trend is not only taking place in the UK but in other parts of the world. In Toronto for instance, there is a couple that choose to move back into their parents’ house, immediately after they got married, so that they can save up for the down payment for a house. The couple was living together in a very expensive neighbourhood and if they were to continue staying there, it would have taken them longer to save up for a house.

On average, a comfortable 2 bedroom apartment, in a safe neighbourhood in Nairobi, will cost you no less than KES 15,000, and that’s on the lower side. Antonio and his wife at the end of the month bring back home a total of KES 40,000. They have to pay KES 15,000 as rent, utility bills, school and tuition fees for their two children, transport expenses, just to mention a few. After catering for all these expenses they are hardly have enough cash to save as down payment for a home, chances are, this couple will never own a home of their own.

If they were to move in with Antonio’s parents for a couple of years, this could permit them to stash away the amount they spend on rent into a savings account. A year of staying rent free at Antonio’s parents could save them KES 180,000; three years there will save them KES 540,000.

In as much as this could help any couple save up for a house of their own, it has its own disadvantages.

There’s the impact it can have on family dynamics. Chances are the Mrs. wouldn't be willing to live under the same roof with mother in-law. In as much as this might be the case, application of this method of saving up for your home has worked in other parts of the world.

Before initiating this living situation, everyone involved should sit down and have a frank discussion about the expectations so this can be a win-win situation. In exchange for not paying the rent, you can pay the utility bills for the whole house. This will demonstrate that you are aware that your presence in your parents’ house does not increase the overall cost of the household expenses.

Below is a case of a couple from New Jersey that moved back into their parents’ house and was able to save up for their own home:

[caption id="attachment_20864" align="alignnone" width="624"] Sourced from: boards.weddingbee.com[/caption]

In as much as moving in with parents can be difficult, it might just be the solution to the home ownership problem in Kenya. It has worked in other countries, why shouldn't it work here? Think about it, you never know, it might just work for you.