Purchasing a property is one of the many resolutions that have been made for this year. However it should be noted that for first time buyers it is a resolution that will prove to be worthy challenge. In a city like Kampala there are several unfamiliar hurdles and policies you will have to go through in order to buy your first property.
Shakib Nsubuga, Country Manager of Lamudi in Uganda, said: “You need to have a better understanding of the process before embarking on this journey. It is better to have a qualified agent who will help you navigate through this maze. This week we share with you expert tips for first time home buyers:
Get your finances ready
It is important to know your financial strength before making the decision to purchase your first property. There is a possibility of you having to borrow money in case you are constructing or buying, make sure you have all the approvals ready at the beginning of the process as this will save you a lot of time and hustle.
Know your key needs
Having your priorities in mind is an important aspect. There are many factors that are going to drive your final decision for example: Price, neighborhood, accessibility and security. Online platforms like Lamudi are a valuable supplement when it comes to narrowing down your options as all the information is stated on the property pages.
This will help you narrow down the properties close to your requirements and schedule site visits. It is important to be confident in the property before you make an offer for it as this will save you from any future regrets.
Select your agent carefully
Selecting a professional, reliable and honest agent should be your main priority. Your real estate agent should be able to guide you, answer your questions, manage the process and look out for your best interests. Make sure you get an agent that you trust both professionally and personally. This agent should be able to know your preferences so that they can be of value to you during this process.
Compare prices always
When making offers for properties with your agent it is important to compare with other similar properties so that you are able to make an educated offer and at the same time be able to bargain. Your agent will be an important weapon at this point so it is is important to consult with them so that you are on the same page when talking to the seller.