UGANDA, Kampala | Real Muloodi News | What does it mean to build a modern urban, but affordable, house? This was a recurring question at a recent conference at Speke Resort Munyonyo in Kampala, organised by The Association of Real Estate Agents (AREA). Daily Monitor covered the event.
“Every developer is targeting the high-end market. I think it is time to target the low and middle-income earners,” says Judy Rugasira Kyanda, CEO of Knight Frank and former AREA Vice President.
For a Ugandan earning USh 1m per month, an affordable house would cost around USh 43m. Surprisingly, this is still a lot for most Ugandans. How about USh 20m? Can it build a modern urban house?
According to Cissy Namaganda, proprietor and CEO of Cinam Investments, it is possible to build a house with a budget of USh 20m. The USh 20m excludes the cost of land. A standard plot with a land title can go for as low as USh 6m and as high as USh 100m, depending on its location.
Cissy, who also attended the conference, says one factor that causes the high costs of building a house is the unprofessionalism at the site.
“But yes, you can build a modern urban house for Shs 20m,” she emphasized. “It may be small, but nice and desirable,” she says.
Under her new initiative, “Beera Landiloodi” (Become a Landlord), Cissy has helped clients build houses that are as cheap as USh 20m. She says one can build a single bedroom house with the right professionals.
Cissy notes: “Not all homes have to be big and expensive. If you approach the right professional, you can know the precise quantities. We sit together, draft a plan and cost it for you in an honest, open way.”
“Knowing this helps you with budgeting. You can increase or reduce the amount spendable. A true professional will keep their word and not cheat you. And USh 20m could turn you into a landlord,” she adds.
A 20-million-budget house would contain;
- One open living area with a sitting room, a dining room and a kitchen.
- One self-contained bedroom—four walls outside, with one partition on the inside separating the living room and bedroom.
The minimum walling style reduces the cost of materials and labour. You would have a maximum of three doors and two windows.
According to Cissy, merging the spaces into a single hall saves both money and space. In a smaller space like 10X12 ft, each of these functional rooms flows easily into the other. This gives an impression of spaciousness.
“To reduce the cost further, the house would come with a flat roof, as opposed to the traditional cone-shaped roof, which is much more expensive. “Anyone who is capable of, or is paying USh 500,000 in monthly rent, can own a house if you pay USh 1m a month, that’s USh 12m a year. That can complete a house,” Cissy says.
Want to get in contact with Cissy?
Cissy can be reached at:
Website: https://www.cinaminvestmentltd.com/
Ph. +256(0)782 950696
Email: info@cinaminvestmentltd.com
Address: Tirupati Mazima Mall, Ggaba Rd
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