• Thu. Sep 28th, 2023

UGANDA, Kampala | Real Muloodi NewsIn the pursuit of owning a plot of land, many individuals mistakenly believe that it requires substantial wealth or a high-paying job.

However, Immaculate Nantongo, CEO and founder of Fabulous and Beautiful Homes, reminds us that the acquisition of land is not solely dependent on financial means.

Individuals from various backgrounds, including those employed in unconventional or low-income jobs, have successfully obtained land.

This paradigm shift should serve as a wake-up call to those who have yet to realise their land ownership goals. To shed light on the matter, let us explore Immaculate Nantongo’s views on why some people have not yet acquired land, and how these obstacles can be overcome.

Misconception: The Need for a Large Sum of Money Upfront

One common misconception is the belief that a significant amount of money must be available at once to purchase land.

However, Nantongo shares the story of a friend who successfully embarked on his journey to acquire an acre of land in Gayaza.

This friend approached a broker and inquired about the possibility of paying in instalments. Upon receiving an affirmative response, he made an initial deposit of USh5 million.

Subsequently, he continued to deposit whatever amount he could comfortably afford. At present, he is in the final stages of completing the architectural plan for his bungalow on the acquired land.

This highlights the viability of acquiring land through a commitment to a structured instalment payment plan. It is important to emphasise that starting with a modest amount, such as USh500,000, and gradually increasing the payments over time can lead to eventual land ownership.

However, it is crucial to ensure that reputable estate dealers are engaged to safeguard against potential risks.

Underestimating the Potential of Existing Income

Another obstacle is underestimating the potential of one’s current job or income. Nantongo emphasises that anyone with a source of income can work towards their land ownership goals.

It is essential to thoroughly understand personal earnings and determine a realistic budget. By finding a working formula and seeking out affordable land options, individuals can identify plots that align with their financial capacities.

Transparent communication with estate dealers is crucial to establish a suitable payment plan that aligns with one’s income.

It is imperative, to be honest about financial limitations and avoid over-committing to payments that exceed what can realistically be afforded.

For instance, if one earns USh500,000 per month and is left with around USh150,000 after deducting expenses such as rent, it is important to consider land options that are within this budget range.

Starting with a smaller plot and gradually building upon it over time is a viable strategy that requires patience but can yield fruitful results.

Overcoming Inaction by Taking the First Step

Sometimes, the lack of progress is a result of inaction. The notion that purchasing land is a complex and difficult process can deter individuals from even considering acquiring a small plot.

However, Nantongo highlights the importance of taking the first step. By initiating the process of land acquisition, individuals can break free from the cycle of inaction and develop a deeper understanding of the real estate trade.

It is akin to the concept of boarding planes—once started, the journey continues. Similarly, once an individual begins to acquire land, the path to ownership becomes more attainable.

Freedom from Location Restrictions

A common misconception is the belief that one must purchase land in a location that mirrors their current rental property.

For example, someone residing in an affluent area may assume that the land they desire should offer similar amenities and conveniences.

However, such expectations can limit options and make land ownership seem unattainable. It is essential to recognise that every neighbourhood undergoes development over time.

Areas that were once considered remote or undeveloped can transform into thriving communities.

Nantongo provides examples of various neighbourhoods in Uganda, such as Buwate, Kira, Namugongo, Nsasa, Bulindo, Bukerere, and Sonde, which have experienced significant growth and appreciation in land values.

By considering areas that are still in the early stages of development, individuals can find more affordable land options.

Over time, as these areas continue to progress, the value of the acquired land can appreciate significantly. It is important to avoid comparing oneself to peers and their choices.

Each individual should prioritise their financial circumstances and make decisions that align with their budget and long-term goals.

Considering Loans as an Option

While not everyone requires a loan to acquire land, it is worth noting that obtaining financing is not inherently negative.

If a loan is necessary, individuals can explore various options to ensure a secure financial arrangement.

Choosing a salary loan can provide a sense of stability, and it is advisable to consult with loan officers within one’s company to gain a better understanding of repayment terms.

Many banks offer promotions and specialised loan products for land purchases. By approaching banks and exploring available loan options, individuals can determine the most suitable financial arrangement for their land acquisition plans.

Reevaluating Spending Habits

Poor spending habits can impede progress towards land ownership. Nantongo presents an example of an individual who spends a significant amount on luxury items, such as expensive drinks and lavish outings.

By analysing one’s expenditure on land prices, it becomes evident that the resources wasted on unnecessary expenses could be redirected towards land acquisition.

Reviewing and adjusting spending habits can significantly impact the ability to save for and purchase a plot of land.

Small sacrifices in daily expenditures can accumulate into substantial savings over time.

Prioritising Personal Goals over Visitor Considerations

The desire to accommodate visitors should not be the primary consideration when purchasing land. It is crucial to prioritise personal goals and long-term plans.

While visitors are important, their presence should not dictate the choice of location or the size of the acquired land.

If individuals truly wish to see each other, distance or the location of one’s property should not be a significant hindrance.

It is essential to focus on personal aspirations and select land based on individual preferences and financial capacities.

Acknowledging the Need for Action

Inaction can stem from a fear of asking questions or seeking information. However, Nantongo emphasises the importance of being proactive in the pursuit of land ownership.

No broker will fault an individual for inquiring about land prices or requesting a site visit. Taking the initiative to visit estate dealers, ask pertinent questions, and familiarise oneself with available options is crucial.

Bold moves and active engagement can inspire personal growth and progress towards achieving land ownership goals.

Broadening the Search Beyond Kampala

The insistence on purchasing land near Kampala can significantly limit options and increase prices. Nantongo advises against basing land choices solely on the convenience of commuting to the city centre.

It is important to consider alternative solutions, such as owning a car or exploring emerging areas. As the country continues to develop, new opportunities and amenities will arise in various locations.

It is crucial to broaden the search and consider areas that offer more affordable land options. By embracing the potential of developing regions, individuals can secure plots of land that align with their budgets and long-term goals.

Exploring Land-Saving Schemes and Expert Advice

To further support individuals in their land acquisition journey, Nantongo recommends joining her Facebook group called Fabulous and Beautiful Homes. This group offers a land-saving scheme and provides expert advice on various aspects of housing and land acquisition.

By actively engaging with the community, individuals can gain valuable insights and resources that can aid them in achieving their land ownership goals.

The dream of owning a plot of land is within reach of individuals from diverse backgrounds and income levels. Overcoming common hurdles requires a shift in mindset and a proactive approach so that individuals can navigate the path to land ownership successfully.

It is important to remember that owning a plot of land is a journey that can be accomplished through patience, determination, and strategic planning.


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