How Public Infrastructure Makes You richer in real estate
Have you ever heard the advice to buy property in an area the
growing, and area with upcoming infrastructure development like roads, markets,
factories and offices? It's a smart strategy for a reason! Think about it - the
more convenient and livable a neighborhood becomes, i.e. with good roads for
access, utilities and job opportunities, the more desirable it is, and that translates
to higher property values and for our landlords, higher rent. So, let's explore
how different types of infrastructure can impact your property's worth.
1. Transportation: Location and Easy
Access!
Let’s face it, we all want to live along a tarmacked road,
not just because of less dust but because it makes it easy to use a
well-maintained road or highway to get anywhere you are going. The benefits are
endless, and good access makes your property more attractive to potential
buyers or renters, because convenience is king. Ugandans hate hustling, most
would pay more to avoid anything that makes their lives harder.
2. Utilities: Making Life Easier.
Nobody wants to deal with unreliable electricity, water
shortages, or slow internet. Reliable access to these essentials makes a
property much more appealing. Think about it - fast internet for streaming your
netflix shows, clean water for your children to use, and a stable power supply so
you don’t have to risk burning the house down with candles - these are the
things that make a house a comfortable home. Good infrastructure ensures these
services are available and consistent, making your property more valuable.
3. Schools: The Best Education for Your
bundles of Joy
I want to give my children everything, and a good school is
high top on that list. Like me, many families prioritize living near good
schools when searching for a home. After all, you want to be able to easily
drop your kids so properties located near high-quality schools and universities
are in high demand, leading to increased property values and potentially higher
rental income.
4. Healthcare Facilities: Peace of Mind
Knowing Help is Nearby
Emergencies can happen anytime, anywhere. Knowing you have
access to nearby hospitals and clinics provides peace of mind. Clinics are all
good and well but having a good hospital near simply adds more years to your
life, literally. Properties close to healthcare facilities are often more
desirable and valuable because they offer a sense of security and well-being.
5. Parks, Shopping, and Entertainment:
All Work and No Play? Not Here!
Life isn't all about work and fresh water! Having access to
recreational facilities like pubs, shopping centers, and entertainment venues
makes a neighborhood more vibrant and enjoyable. Imagine being able to unwind
at your spot near home after a long day. Your people at home won’t even notice
you stopped somewhere before continuing home. You can also buy some bread for
the bazukulu. This convenience enhances the lifestyle appeal of a property and
boosts its value.
By understanding how infrastructure development plays a
role in real estate values, you can make informed decisions about buying or
investing in property. You can also take an active role in driving change a
lobbying for these projects to come into your area. Remember, the more
convenient and livable a neighborhood becomes, the richer you are.
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