The ultimate question one should quickly ask about buying property in Uganda is; how genuine is the property you are buying? Whatever your purpose of purchase is, securing the property be it land is one of the most important stages of such an investment.
There are crooks world over and these will certainly take advantage of the upsurge boom in the Ugandan real estate. They will always be ready and looking out for that customer that has not done their research properly before getting on with buying property in Uganda.
I have known people that have dreamed of their retirement fancy home and their dreams have been shuttered. It’s therefore worth taking extra care before making a careful investment into property here.
You will certainly and easily find your desired property; say a beautiful land in a glorious location with a magnificent view that will tempt you but in all this, the most difficult stage in buying property in Uganda is making sure that the property is not ‘hot air’ There are lots of merchants – but not all sell genuine property.
….And I am afraid, the same principles will apply to buying any other real estate property/asset.
For starters, get in touch with real estate agents with a physical address and contact (many of them have websites these days). Avoid completing your purchase online or on phone. You will never know who is on the other side. Take a trip to Uganda – for curiosity’s sake, and get down to viewing before any decisions on the land/property.
This will help you avoid individuals who masquerade as real estate agents and in any case, if the real estate agents sell you a fake property, you can easily sue the company as a group of stake holders.
You need to be sure which kind of ownership you are looking for. Avoid buying customary land where you will need the consent of the entire family/clan. It might look cheaper and irresistible but the hassle that engulfs that kind of deal is the never ending one. Besides, you can never be safe from future litigation because customary land is held in trust and therefore no one can claim to own it.
My word on this is; If your interest in property investment is buying land, then go for Mailo land. Most of the real estate agents deal with mailo land which usually and normally should have a land title; which title should be given to you after completing the purchase and which should be in your names. It’s the authentic proof of ownership after buying land.
As a matter of caution, it’s worth double checking with the land office to make sure that the said land title is the authentic one.
There other issues you might want to consider before buying property in Uganda;
- Road accessibility – Your desired property should be easily accessible by road otherwise you end up locked in with no right of entry to your beautiful buy.
It might be worth finding out from the Uganda National Roads Authority for their road network and to guide you on buying property with in which roads would be constructed – but also to avoid places that are within their plan for future road construction.
- Mapping zones is one of those back ground on-going processes that not many investors take care to find out before buying property but, it’s one of the other important points.
Find out from the local authorities (city/town councils), to determine zoning ordinances and whether you can build the type of home or construction you desire.
Ask about future zoning; whether there are plans to turn the area into a shopping centre/offices, airport construction or change of nearby land use that could devalue your investment.
Know the dos and don’ts of your locality in terms of land development particularly if you are looking at rentals as an investment otherwise your project will be messed up.
- Location – Look out for that physical area that can favour your investment to flourish; the road network, the facilities; electricity, water and the neighborhood.
- Utilities – a little similar to location but goes beyond; into considering the possibility and cost of getting the utilities to your property. Water and electricity are virtually the bare minimum for an investment in real estate. How easily, cost effectively and quickly will you be able to get the utilities to your property?
- Market survey – Don’t rush into buying property in Uganda with your first real estate agent. Compare notes, do your research and find out how much property costs in that area. In that way; you get a better deal but also you know how much returns to make from your investment.
- And of course Community services; medical facilities, schools, security, local shops, children play areas and more should be within proximity.
The beauty is that most real estate agents have considerably taken all these into account and you certainly will not go wrong if you use them to find your master piece. They will also save you that extra hassle of having to do all the bits of extra research.
Good luck with your investment and hope you enjoy Uganda to its fullness and get good returns.
Buying property in Uganda especially in the real estate can be a quite rewarding venture.