There are several houses on the Ugandan market and they are also on high demand since most people believe it is cheaper to buy an already built house than to start construction from zero. Selling a house is not an easy task and you might find it extremely hard if it is your first time. But worry not life has been made easy if you just follow and do the following.
Houses for sale
There are different houses for sale in Uganda and these are listed below:
There are different types of hoses that are being sold in Uganda and these come in form of rental units, family houses and others. The types of houses for sale include some of these that are listed below:
- Detached houses
These are houses that are always alone on a piece of land and they are quite expensive because of this. They have rooms that differ according to what one wants and these are majorly purchased by those that have families.
A detached house has its own compound and all the facilities like water, compound, electricity are not shared by anyone else. It also becomes expensive due to the fact that it takes up a lot of space. They are much preferred since they offer the much needed privacy for the people.
These are units of similar houses that are found in the same area whether fenced or not fenced and they are either one roomed, double or two bed room houses. In these people share a wall with the neighboring house and they are all designed in the same way.
They can be on the same level or storied and they are purchased by very many people since after purchasing, one can earn a monthly salary from the houses once people start renting them.
- Semi- detached houses
These are houses on sale that are joined to others only on one side. They are majorly in gated areas and have ample security. The owner of the house takes care of their house, compound and is responsible for the land that the house is on. They are rarely purchased but are good if you get what you want.
The prices of the semi detached houses depend on the number of rooms and the location of the houses although you should note that they are not as expensive as the detached houses.
What to consider when selling a house in Uganda
There are several factors that one can consider when selling their house since it is not an easy task and these factors are listed below to help you sell your house with ease.
- Consider your financial dilemma
By the time you decide to sell your house it means you are in need of funds and urgently. Some sell their houses just because they want to relocate and buy another house but this all ends up in one knot and that is finances. Sell a house according to the amount of money that you need to sustain you throughout the entire process and after that sale.
If you are planning to buy another house, make sure the money got from the sale can buy the other house and facilitate your life. And if you are paying a loan, find out if the money got can pay the loan percentage and still sustain you to either rent or get another house.
- The paperwork of the house
This can hinder the sale of the house if not properly prepared. If you have a loan, make sure that the papers state whether you finished paying the loan or not and also avail the land title on which the house is seated so that the buyer can confirm whether the house is being bought in a legit way. A really in the papers will lead to a delay in the sale of the house.
- Hire a realtor
A realtor helps you connect to the best buyer of your house. These earn a commission form whichever house they help sell so they work hand in hand with the owner to get a buyer. So when hiring one, make sure you get one who knows the community where your house is located so that they don’t hike the price of house more than what it is supposed to be sold at.
They also advise you on what to do therefore get one with whom you share the same interests.
- The price of the house
There are a lot of things that one can consider mostly when selling a house according to price and these include
- The location of the house, if your house is located in a high end area close to the city center, then you can price your house highly since the community is also high economically but if your house is located in area of low or middle income earners and is far away from town, you need to make a moderate price for the sale of the house.
- Provision of services, a house that is located in an area where the services like electricity, water, transport and others can get a fair price on the market where as a house that is located in an area that is not easily accessible will not get a good pricing on the sale market.
- Accessibility, make sure that your house is easily accessible so that it gets a fair market price.
- The target market
You need to know which group of people you are targeting before deciding to put your on the market for sale. The target market depends on a number of things including the following:
- the location of the house, this will determine the selected group in a way that if it is located in an area that is well developed the market sale for the house will be high because of the high class people living in the area as compared to slum areas.
- Clean the house
Before you put your house on the market, make sure you clean it thoroughly so that you attract more potential buyers. This can be done in the following ways
- fix all the broken pipes if any and make sure all the plumbing is fine
- Add a fresh coat of paint to the house to make it look new and not faded before placing it on the market.
- Make sure the compound is freshly clean the compound should not be littered and if grass is available, then cut it.
- Make sure you take down all your personal belongings like frames, clocks and wall hangings from the house before you put it on sale.
Mistakes to avoid when selling a house
There are many mistakes that people make when selling houses in Uganda and some of these are listed below:
- setting an exaggerated price
Make sure that you do not make the mistake of exaggerating the price of the house just so that you can gain more. Hiked houses always stay longer on the market and if you are in urgent need of the money then you end making loses or selling it lower than it was meant to be.
- Hiring a realtor
Hiring a realtor will help you concentrate on other jobs or more important things other than selling of the house although it is not necessary as everyone thinks it should be. You can actually sell your house using word of mouth by trusted forces and avoid the hustle of realtors who hike the prices just to get a better commission.
- Not stating the problems in the house
If your house has any issues like leaking pipes, bad drainage system, flooding compound, if you cannot fix them then make sure the person who wants to purchase the house knows them so that they are fixed in order to avoid being sued for breach of contract.
- Being highly expectant
When you put your house on the market for sale, make sure that you do not have high hopes of getting the exact amount of money you want as you will be disappointed and end up without selling your house. Buyers like bargaining and you need to do the same until you arrive at a price that is convenient for the both of you.
- Accommodating the buyers
Some people do not want to be accommodative when it comes to buyers and this might delay the sale of the house. If someone wants to come and view the house, you should be able to meet them and take them on a tour around the house even when it is inconveniencing. This will earn you respect from the buyer who might end up buying the house.
In conclusion before you construct a house for sale, get to know about what people really want on the market. This will see you earning more than what you actually expected.
The search for a house to move into is really a nightmare that no one wants to go through. You get to meet people who refer to themselves as property brokers who like going in circles. These are usually gentlemen who are very familiar with the places where houses are located and have adequate information about the property but instead first move you to unpleasant houses before showing you those that fit your specifications just to extract money from you. They are the people you approach and explain the requirements of your ideal house and how much you are willing to pay. Their role is to take you around several houses that fall under your requirements so that you choose the one that best suits you and then connect you to the landlord. After this, you are required to pay the brokers a commission for guiding you in getting a house.
This whole process is so overwhelming and sometimes one doesn’t get to find the exact house they want and is often convinced to take what is available. Nevertheless, as the use of the internet is becoming more liberal, there are modern brokers who list houses and properties on social media and some have created websites listing properties and houses for sale in Uganda. This make the search a bit easier since one doesn’t have to waste time moving in circles.
Who can buy a house in Uganda?
Many people would wish to own a house in any part of the country but due to demanding careers and busy schedules they are not able to find time to look for land and monitor the construction work at the site. Others are foreigners working in Uganda but would wish to settle down here in a family home but according to the 1995 constitution, foreigners cannot own land freehold. They can either lease land or a house from citizens or the government. Any individual falling in any of the above categories choose to buy a finished house and settle down.
What should I consider before buying a house in Uganda?
Before you start the search for a house to buy, there are a few guidelines to follow.
Inspect the area. Determine where you would like to dwell, a busy or quiet place? Open or isolated place? Consider things like the type of schools you would like your children to go to, whether you’re to commute to and from work.
Be sure that you’re buying the house for the long-term benefit. It wouldn’t make sense buying a house which you don’t intend to keep for at least 5 years.
Buy a house that satisfies your needs. That house will be your home where you will welcome friends, start up a family and so it should fulfill your space requirements.
Be mindful of your budget. Make a budget and stick to it. Avoid looking at houses that are beyond your budget because this will be wastage of time.
How do I find a house for sale in Uganda?
Having put the above in mind, you can then start on your search for houses on sale in Uganda. The best way is to do an online search because this takes less time. Visit the websites of various real estate agents and see if there is any house that suits your needs. Compare the prices of the different agents to find the one that fits your budget. The list below can guide you and is in no particular order.
Vip Realtors Uganda
+256 701 343 705,+256 770 827 460
Javanet Systems Ltd
+256 312 294 732,+256 705 332 669
Ecoland Property Services ltd
+256 755 700 700, +256 772 381 544
Zande Properties Ltd
0414-230 100, 0772-504 751, 0701-504 751
Sema properties Ltd
0481 660 355, 0774 000 222, 0704 366 268
How do I finalize the paperwork for buying a house in Uganda?
After identifying the house you want to buy, contact the real estate agent to make an appointment for inspection. You will need a real estate lawyer to guide you throughout the process of purchasing the house. When you have agreed upon the terms and conditions of purchase, let your lawyer go ahead with settling the final price and overseeing the payments.
Payments may either be on installment basis or full term amount depending on your financial status. Most real estate companies require a 30% deposit to be given keys to access the house then pay the remaining installments as to the agreed terms which usually take a period of one to five years. Upon settling the full amount, the title of the house is then issued to you by either the owner or real estate company depending on who you’re purchasing the house from.
How do I get a mortgage in Uganda?
It is possible to get a home or housing loan from a bank or microfinance if you don’t have enough personal savings. Different financial institutions have different terms and conditions and therefore charge different interest rates, give different loan periods and require a different initial deposit. Make research on the best financial institution to acquire a mortgage from. Talk to friend, relatives and workmates about their experiences with the financial institutions they are using. Visit at least three banks or microfinance institutions and compare their rates to determine which rate will favor you.
To be legible for a mortgage, you must prove to the financial institution that you’re capable of successfully paying it off. Whether you are self-employed or a salary earner, the financial institution will give you a mortgage that suits your financial category. Some financial institutions can give a minimum amount of Shs10m to self-employed clients and Shs30m to salary employees who earn Shs 2M.
All you need is to check yourself to know how much you can afford before hitting any financial institution and to organize your financial documents or document your income.