So, you’ve bought your dream home. No more rent, no more surprise knocks from the landlord. Life is good. Until reality sets in. Owning a home is not free either.
Welcome to the other side of the fence, the monthly home ownership costs. While you’ve escaped the rising rent prices, you’ve also stepped into a new world of expenses that show up every month
Let’s break it down:
Utility Bills
As a homeowner, all responsibility falls on you. Electricity bills typically range from Ksh 1,500 to Ksh 6,000 per month, depending on your usage and household size.
Water bills vary by location, but most urban homeowners can expect to pay between Ksh 500 and Ksh 2,500 monthly. Additionally, in many towns and cities, garbage collection isn’t handled by the county government. Private companies charge around Ksh 300 to Ksh 1,000 per month for this service.
The Internet
Another recurring expense is internet and entertainment. In today’s world, reliable internet is not a luxury. It’s a necessity.
Whether you work from home, have kids that go to school, or just enjoy streaming movies, a good internet package is about Ksh 2,500 to Ksh 5,000 per month, depending on the provider and internet speed. On top of that, if you subscribe to services like Netflix, Showmax, or DSTV, you’re looking at an additional Ksh 1,000 to Ksh 2,500 monthly.
Home Maintenance & Repairs
Home maintenance is another silent but inevitable part of owning a home. Leaking taps, broken sockets, or even repainting.
To stay ahead of breakdowns and keep your home in good shape, it's wise to set aside at least Ksh 1,000 to Ksh 5,000 per month for general repairs and maintenance. Even if you don’t use this fund every month, it acts as a safety net for bigger surprises.
Security
If you live in a gated estate or apartment complex, you’re likely paying monthly service charges between Ksh 1,000 and Ksh 5,000. Part of this charges cover security guards and street lighting.
For those in standalone houses, hiring a night guard or subscribing to a professional security firm can cost anywhere from Ksh 3,000 to Ksh 10,000 per month. It’s a hefty addition, but peace of mind and safety are non-negotiable.
Loan repayments
Lastly, if you take out a mortgage in Kenya, it will likely be your biggest monthly expense. For example, a mortgage of Ksh 5 million spread over 15 years at an interest rate around 13% would require monthly repayments of approximately Ksh 66,000 to Ksh 67,000.
Keep in mind, this estimate doesn’t include additional costs like insurance premiums, processing fees, or annual lender charges, so it’s essential to read the fine print carefully. Many new homeowners are surprised to learn that mortgage payments can feel very similar to paying rent.
