Finding The Right House For Sale In Uganda
A guide to finding houses for sale in Uganda.
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
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.