If you find yourself browsing property listings in the Real Estate Database that seem excessively expensive (or surprisingly cheap), you may be searching in the wrong locations. Avoid looking for houses or land in areas like Naguru, Kololo, Nakasero, Mbuya, or Bugoloobi if your budget aligns more with locations like Kasokoso, Bulindo, Gayaza, or Namavundu.

It’s true that many buyers prefer homes closer to the city center to be near their workplace. However, the closer you get to the city, the higher the property prices become. Several property listing platforms, such as RealEstateDatabase.net or Lamudi.co.ug or Realtor.ug, feature thousands of properties across various locations, allowing you to find something that fits your current budget.

If your budget is a limiting factor in your property search, focus on areas where your budget is more likely to match the property prices. If you're unsure where to look, use the price range search filters on platforms like the Real Estate Database (RED). On the RED, you can access these filters by clicking the double arrows under the search button.

Having a limited budget is not a problem. What matters is recognizing that your current funds may not be sufficient for properties in Kololo. Once you accept this, you can explore other locations that better suit your financial constraints.

It's common for buyers to request a tour of properties priced around 100M, only to complain upon arrival that the house lacks roof tiles, floor tiles, or marble countertops in the kitchen. Such expectations would be more appropriate for neighborhoods like Naguru, Bukoto, or Ntinda, rather than Gayaza or Ssisa.

The issue here is often a mismatch between the buyer's budget and their expectations. Some buyers mistakenly believe they can find a high-quality property at a bargain price, but this is simply not realistic.

Denis Musoke, a leading real estate agent in Kampala and owner of Rentwide Limited, offers insights into this mismatch between price and expectations. He explains, "If the budget doesn't match, we recommend nearby neighborhoods with lower prices for the same type of house. For instance, if you want a fully furnished 2-bedroom apartment in Nakasero with a pool and gym for under $1500, we might suggest Naguru, Kololo, or even Bukoto."

While Denis's approach is valid, it raises a question for him and other agents: Is it possible to advise the buyer to increase or adjust their budget to acquire their dream property? Another strategy for buyers who are focused on properties slightly beyond their budget is to consider a mortgage to cover the price difference between their offer and the actual sale price.

For example, if a buyer has 300M in cash but the house they desire costs 400M, they could finance the 100M difference with a mortgage. This would allow them to enjoy their dream home while using their previous rent payments to cover the monthly mortgage installments.

To help manage expectations, agents could share listings that fall within the buyer's budget before scheduling a physical tour. This way, buyers can take a virtual tour of potential properties and adjust their expectations accordingly.

As a buyer, remember the Chinese saying: "cheap-cheap no good, and good-good no cheap." This mindset will help you quickly identify the range where your budget fits.

Kind Regards
Julius Czar
Author: Julius Czar
Company: Zillion Technologies Ltd
Mobile: +256705162000 / +256788162000
Email: Julius@RealEstateDatabase.net
Website: www.RealEstateDatabase.net
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