I grew up hearing that once I got a job, the first thing I had to do was build a house. Buy a plot and build a house that is.
It was never a good thing to think anything other than that. It was always a sign of waywardness to think of buying the toys I had always dreamed of.So it was good bye Ferrari, till we meet again.
One is expected to get a job after Uni and start looking for a plot of land. With all the dreams playing vividly on the screen of their mind, they are supposed to ignore the urges to go out and paint the town red, to buy round after round for the boys and concentrate on stacking up the coins till there is enough to put up a structure.
It is good wisdom, actually. Look at the price of land today and how the rent rises in Kampala and the places surrounding! If you can buy a plot of land, it is wise you do it.
If your thing is houses, anyway.
If you feel that building a house will signify that you will have arrived. If after that last shutter’s in, you will lie back and relax coz you’ll be cock of the walk.
No one ever said you can collect wealth in stocks. Or bonds. It has always been that if you want to be rich, you have to build a house. Of course now, we know we can build more than one house so we go into real estate.
But the stock market is here and in the next few years, under a decade, its really going to be smoking. Kids are being taught the merits of saving in secondary school right now. There is talk of extending the lessons to Primary school.
The Uganda Revenue Authority has been on about that very issue, saying how our problems would be avoided if kids were taught right from lower primary that they have to save and invest.
During the Amin war, properties were destroyed. Houses that had been the talk of the town because of their beauty were reduced to rubble. Of course I am just repeating what I have been told by people who should have been there. But stories like this changed my outlook on what is really valuable in this part of the world.
What shall I gain if there is always the danger of losing all my wealth in a huff and a puff of the big bad wolf of war? Or even losing my stuff to jealous people who are miffed that I have made it in their land and therefore, I have to be relieved of “their property?”
Elsewhere, if I were living large in a fantastical place, I’d probably think a lot about real estate. But I live in a world where things are not always what they seem. So the best way for me to make money is not through brick and mortar, it’s in the stroke of some broker’s pen.
And that’s a rant.