My Land Investment Doubled, but I Walked Away With Regrets 

I bought a quarter-acre piece of land in Kisian, near Kisumu, in 2011 for Ksh300,000. At the time, I thought I was making one of the best financial decisions of my life. I expected the land to appreciate in value, and I imagined that one day I would either sell it for a handsome profit or develop it into rental houses.

Six years later, I sold it for Ksh600,000. Although I had doubled my initial investment, I could not help feeling that I had let go of something that could have been worth much more.

My parents had died when I was young, and I grew up under the care of my grandmother. Unfortunately, she also passed away when I was joining Moi University, leaving me to navigate adulthood without the immediate family support that many people take for granted.

After completing campus in 2007, I secured a job as a social worker with a non-governmental organisation involved in economic empowerment programmes in Kisumu. The job gave me some financial stability, and for the first time, I could think beyond meeting my daily needs.

I started saving and thinking about how I could use my salary to build something for myself. I did not want to depend entirely on employment for the rest of my life, and I was interested in investing in a business or an asset that could grow in value.

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Why I Bought Land in Kisian

In 2011, I decided to invest in a quarter-acre plot in Kisian for Ksh300,000.

I had been following developments around Kisumu, particularly the expansion of Kisumu International Airport. There was also discussion about expanding the road network, with some people speculating that improvements could eventually extend towards Busia.

To me, these developments suggested that the area could become more valuable as transport infrastructure improved and economic activity increased.

I believed buying land early would give me an advantage. My plan was to hold the property until demand increased, then sell it at a profit.

I also considered developing it. If I could eventually raise enough money, I thought I might construct rental houses and earn a regular income instead of relying on the land's appreciation alone.

However, I did not have the capital to build immediately. My salary could support my living expenses and savings, but developing the property would require considerably more money.

For the time being, I was content to own the land and wait.

When Kisumu International Airport was officially opened in 2012 following its expansion, I felt encouraged about my decision.

The plot was relatively close to the airport, and I believed its location could become more attractive as the area developed. I imagined that businesses and people looking for land near the airport would eventually increase demand.

I was not earning enough to develop the property, so I continued holding it. My expectation was that time would do some of the work for me.

Over the years, the land became an asset I associated with my future. I had bought it using money I had worked hard to save, and selling it was not something I had planned to do anytime soon.

But owning land and being able to use its value when you need money are two different things.

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Why I Decided to Sell

In 2017, I received a scholarship to pursue further studies in Australia.

I was 31 and unmarried at the time, and the opportunity presented a major turning point in my life. I wanted to take it, but moving abroad also meant preparing financially for a new chapter.

By then, I estimated that the land was worth about Ksh750,000. On paper, my investment had appreciated by Ksh450,000 from the original purchase price. I began considering selling it.

I needed the money, but there was another concern. Having lost my parents and grandmother, I did not want to leave the property behind without a clear plan for it. I worried about what might happen to it if I remained away for years, particularly because I had extended family members who could potentially become involved in decisions about the land.

I wanted to convert the asset into money I could use for my next step. However, selling proved more difficult than I had expected.

Part of the plot was stony, which could limit its suitability for some types of development. Although I had viewed the location as an advantage, I realised that not every prospective buyer would assess the property in the same way.

It was also an election year. In the market I was dealing with, prospective buyers were hesitant, and finding someone willing to pay the amount I wanted became difficult.

I had initially hoped to sell at around Ksh750,000, reflecting the value I believed the property had reached. But finding a buyer at that price was another matter. Eventually, I found a local teacher who offered Ksh600,000.

I had to decide whether to keep waiting for a better offer or accept the money and move on with my plans. I chose to sell.

Also Read: He Built a Mansion in Kiserian, Went Back to Renting in Just 2 Months

Did I Make a Mistake?

Looking back, I cannot say that buying the land was a bad decision. I bought it for Ksh300,000 and sold it for Ksh600,000, doubling my original purchase price in six years.

That is a nominal gain of Ksh300,000 before transaction costs and any other expenses associated with the purchase and sale.

But I sometimes wonder whether I could have done better if I had been in a position to hold the land for longer or develop it.

The experience taught me that an asset's estimated value is not necessarily the amount you can receive when you need to sell it. The price someone says a property is worth can differ from what a willing buyer is prepared to pay.

I also learnt that location alone does not guarantee demand. The condition of the land, its suitability for development, the availability of buyers and the circumstances in which you need to sell can all affect the final price.

My plans changed when I received the scholarship, and I had to make a decision based on the circumstances I faced at the time. Holding on to the land simply because I hoped it would appreciate further would not necessarily have been the right choice either.

Today, I see the experience as a lesson in the difference between owning an appreciating asset and having a financial plan for it.