What would be your first preference while buying your first House / or investment?
Affordability ?
First, the thing in your mind that would BUDGET, but here is where most of the new home buyers fall into the trap of Affordable sub-quality construction without knowing future consequences.
To avoid such consequences, buyers should research the developer’s background and quality assurance measures before purchasing a house.
Surprisingly, in Uganda, the Habitat 854 building only has LEED certification
What is LEED Certification ?
LEED ( Leadership in Energy and Environmental Design) certification is a globally recognized system for evaluating and certifying the sustainability and environmental performance of buildings
In this article, we will witness Why Affordable Houses Have Become an Expensive Liability In Kampala
Why it happens
The Illusion of Affordability
Affordable housing in Uganda seem like a dream come true for many homeowners but is it the best choice?
Many times, achieving an affordability title raises questions on quality, false promises, and hidden charges. Buyers often find that properties Advertised as affordable without knowing the additional costs that come with ownership, such as maintenance fees, utilities, and other recurring expenses. eventually it reaches the same market values. As developers, we prioritize sustainability development with the long-term vision of sustainable development, no matter where our projects are. Climate, Culture, and Cost are the three major aspects of sustainability, and they apply to all our projects worldwide.
Earthquake
Did you know, Uganda area’s prone to natural disaster named
As developers, we learn from experience. Over the decades, we have witnessed natural disasters, including the severe earthquake in Bhuj in 2001, which was the worst in India in the past 50 years. But the question remains, how are we equipping ourselves to face such challenges in the future? By conducting thorough risk management, adhering to stringent building codes, implementing robust design. By doing this, we not only reduce the potential impact of seismic events but also ensure the safety of communities and the durability of our investments. This proactive strategy not only protects lives and investments but also contributes to the creation of sustainable urban environments that can withstand the unpredictability of natural disasters.
Poor Construction Standards
One of the biggest problems affecting affordable housing in Uganda is poor construction. Many developers prioritize profit over sustainability resulting in the use of low-grade materials and poor craftsmanship. This leads to the use of inferior materials and shoddy workmanship. As a result, many homes suffer from issues like leaking roofs, cracked walls, and unreliable electrical systems. These problems not only shorten the lifespan of the buildings but also create serious safety hazards for the people living in them.
Diminishing Returns on Investment
For investors, the promise of affordable housing as a profitable investment is fading. Initially, the high demand for housing in Kampala made affordable homes an attractive option for people who are looking for rental income. However, the market has become saturated with low-quality housing, rental yields and property values are declining.
Conclusion
In conclusion, while affordable housing in Uganda may seem like a great deal for first-time buyers, it’s important to think about what you’re really getting in the long run. Many times, lower prices come with hidden risks, especially in terms of construction quality. Taking the time to research developers and understanding potential future costs can help you avoid big problems down the line. We prioritize sustainability and quality over just affordability ensures that your investment is not only safe but also holds its value. Make informed decisions now to ensure a secure and prosperous future in your new home and investment
