Gone are the days when you had to first save a lot of money before you start building your house. Nowadays, there are different schemes through which you can get all that you need for your home.
If you’re one of the people who thought that to build a house, you need to be rich, you need to open your eyes because people are building houses and yet they do not have a lump sum saved somewhere for that purpose.
A case in point is Tom Okelloto, a business man and dealer in furniture. When he started building his house a few years ago, he was worried about how he would raise money for the material.
Okelloto says he then heard about a saving scheme with Hardware World from a friend. “After learning about the scheme, I realised that I did not have to save up enough money to start building my house.”
“I went to Hardware World Ntinda and opened up an account. I was given a form to fill and they took my details. With that account, I keep on depositing small amounts of money for different building materials that I need for the ongoing construction of my house.”
Okellotto who operates an active account with Hardware World now collects different building materials which he has been paying for. He explains that the beauty of this scheme is that he gets the products at the same price as the rate at which he opened his account. He does not have to worry about prices going up.
Scheme for construction material
Sidney Ndundu the Business Manager at Hardware World says they introduced the service to simplify building problems for home developers. “You can open up an account depending on the project you are embarking on.” This account enables you to deposit money for building materials.
He further explains that they keep prices constant for your account. “This removes any pressure on the builders and also gives one piece of mind, he adds.
Ndundu who operates the programme, adds that they usually encourage their clients to come in person and they plan together. “This helps them to break down the project into small manageable stages. Once you have opened up an account, you begin planning and depositing for the foundation, then the structure, rooftop and electrical wiring plus the door fittings.”
Ndundu also encourages clients to come themselves instead of sending builders, “Third parties always inflate prices of the materials,” he says.
Peter Kasule who is also constructing a house says he is part of a similar scheme with Roofings Uganda Limited.
“My engineer told me that I need iron sheets worth Shs7m. However, I did not have the money at hand but then I realised that if I deposited it on an account, I might divert it to other things. So I opened up an account with Roofings Uganda Ltd. At the moment, I have deposited for more than half of the money and I am under no pressure because the scheme has no timeline.”
One of the advantages of such a scheme is that it helps you to buy what you only need. It helps you to avoid buying materials in excess thus preventing wastage and theft.