Benefits that come with being a land owner With many arguments as to what the most valuable asset is, not only in Uganda but worldwide, land still stands out, given the vast economic activities, various activities that can be carried out on it and rate at which it’s value appreciates. It always appreciates Isaac Bamulanzeki, a businessman, says that way back in the 1980s when the population of Uganda was still low compared to today, land was cheap. But with the increasing population, the value of land had to increase. For instance 20 years ago, a 50ft by 100ft plot of land in upscale Naalya cost about Shs200,000 but today the same piece of land costs more than Shs100m. Bamulanzeki goes on to say that the value of land never goes down which basically means that if you buy land at Shs5m today, you will sell it at more than Shs15m after five years.” People have not focused on owning land but rather focused on renting which is a great benefit for people in the real estate business,” notes Bamulanzeki. Making money from idle land Medard Timbikiriza, a shop attendant says that people should not only look at land as a potential source of money when sold. “In my village where I come from, people rent out their land to pastoralists and farmers who have domestic animals and don’t have where to graze and cultivate respectively, and it’s paying them off well,” says Timbikiriza. An acre of land in Rukungiri, Medard says, is rented out at Shs100,000 or more. Instead of living the land to lie idle, at least you rent it out if you have no activity to do on it, says Timbikiriza Planting trees, making bricks On land that Timbikiriza says was lying idle at fast, he realised he could utilise it by planting eucalyptus trees which he used to construct his house and at times sell off some.” On the same piece of land, I hired men who laid bricks that I also used to construct my house,” adds Timbikiriza. Rentals Wilber Muhangi, a bus conductor says that from the small plot of land he bought in Kawempe, he has managed to build rental units from which he earns about Shs800,000 per month. “But something funny happened when I had just paid for this land. Immediately I had signed an agreement of Shs6.7m with the initial land owner, after close to two hours he was calling me to sell to him the same piece of land at Shs7.5m.” I think you can realise how valuable land is,” notes Muhangi. Inheritence package Bob Kizito a motorcyclist in Namuwongo says that for one to own land, it depends on how he or she wants their children’s future to be with their children. “It is our concern to work hard and buy land however small it may be such that by the time we pass on, our children have an asset where to begin,” says Kizito. He goes on to say that parents should not look at land as an asset of their own but as something that should be inherited by their children when they are long gone.” It’s a shame to pass on without owning land when you have worked for the greater part of your life,” notes Kizito Retirement home Every day we live, we grow older. A time in our life comes when we can no longer stay in urban areas due to old age thus compelling us to retire to our home villages. “And you cannot go to a place where you have no house of your own built on your own land.” It would be good if you bought a piece of land preparing for your future and your family so as to avoid future embarrassments, says Kizito. Economic activities carried out on land Medard Timbikiriza says that instead of the able bodied people running to towns to look for jobs, it would be better if they carried out farming on small scale so as to make some money. Headdsthat on his small piece of land that he owns in the village, he planted sugar canes and the proceeds that come from the sale of sugar canes is used to look after his family that is based in the village. Timbikiriza further says that the growth of bananas on large scale if land is available is also a profitable business. “If you have a banana plantation and you sell a bunch at say Shs30,000, by the time the month ends you would have made some good amount of money that you can invest in something else, for example you can diversify to poultry” says Timbikiriza. From my point of view, land can also be used to cultivate coffee both on small and large scale. A case in point is my grandfather Jonathan Kagwizi who earns more than Shs3m from his four acre piece of land that he started small but kept on expanding with time [email protected]
Posted on: Thu, 03 Oct 2013 06:58:54 +0000
Trending Topics
Recently Viewed Topics
© 2015