Tenants of houses in Najera, Ntinda, Kira and Namugongo, where real estate developers build houses and sell them, are chocking on high rental fees. “This year, my landlord has increased the rent twice. We are now paying sh1.2m. Whoever tries to complain is advised to vacate and find cheaper places,” Isaac Mombwe, who resides in Kira Municipality says.

Many Ugandans are rushing to financial institutions like banks to secure loans to build their own houses. However, others are building in phases from their savings. “I decided to rent a cheaper house for five years, use the bigger part of my income to complete my house before my two daughters join high school,” Racheal Namusoke, a secondary school teacher says. She chose this route because she discovered that before they can approve a mortgage, commercial banks will evaluate the type of house you are building and its Bills of Quantities.

“These days, to qualify for a mortgage in any commercial bank, you must be earning above sh4m a month,” explains Anord Lwabi, the marketing and operations manager of Aethetic Developers Ltd - also exhibitors of Vision Group’s Homes and Construction expo. That said, there are some banks, like dfcu bank, that offer home loans to intending homeowners. Christopher Akugizibwe, the manager of home loans at dfcu bank, who are going to be exhibiting their services at the expo, says the bank provides valuable insights into the world of home financing through unmatched home loan offerings.

Nationwide Properties.

Buying a residential property: This loan is given for the purchase of a residence such as a primary residence, a secondary residence, or an investment residence.

Constructing/renovating a residential property: This finances the building of a residential property.

Releasing equity on a residential property: This allows the property owner to access money from their residential property for their own use.

Refinancing a residential Property: Paying out one’s current loan with a new one. It may shorten your loan term and reduce your repayments, so you can afford to make extra mortgage repayments and own a home sooner.

Salaried employees with confirmed employment: If you are a salaried employee with a confirmed employment status, you are eligible for dfcu home loans, whether you are a first-time homebuyer or looking to upgrade your current residence.

Ugandans in the diaspora with verifiable incomes: Ugandans living abroad, have the opportunity to secure a home loan. “You need to be employed and have verifiable income, ensuring you can manage your home loan while residing abroad,” Akugizibwe says.

To find out more, please visit the Homes & Construction Expo 23 set to take place on November 25 and 26 a Kololo Airstrip. Lucy Etyang, the Vision Group sales manager said the company has planned the expo to enable the public to interact freely with experts from the construction field, including engineers, architects, decorators, law-makers, gardeners, and other stakeholders in the industry. Etyang added that this year’s expo, under the theme, Innovation, Standards and Opportunities is expected to unveil modern construction trends, opportunities in energy solutions, construction tips, interior décor, as well as related services available on the market. “People should take this chance to come and check out quality and genuine products and services at relatively discounted prices,” she said. Entrance fee is sh10,000, that gives expo goers an opportunity to attend workshops on construction topics such as land acquisition, building and real estate investment.