Focus on creating cashflows first from businesses and investments before taking on the responsibility of constructing a house…,
Don’t be pushed by what society (same society who are struggling financially) think is the right way.., when you start making money (usually salary), buy land and construct. This societal pressure has put many people in difficult financial and stress positions like loan defaulting, unfinished houses, loss of properties, unhappiness etc.
The best way to construct a family house is using cashflows – not salary. With exception of those who earn huge paychecks and have job security. But if your like many of us out there, struggling to save from salary, not sure if you’ll have your job next month or year, to buy land you need years savings…, then that advise is a trap.
Start thinking of how you can create cashflows before taking on responsibility of constructing a sleeping house. There are many ways one can create additional income without much time invested or knowledge required. I know it because am doing it…,
This is what Amos Wekesa the Managing Director of Great lakes Safari and Uganda Lodges Ltd wrote on his Facebook wall…,
I realize from my posts quite a number of people are paying attention on the family home we are almost done with building. Because I share real experiences, you will see pictures of where I am at the time of posting.
Guys, I will be turning 47 years towards the end of this month and I have been running a business or businesses which turn 20 years next April 2021. Of course I have aspirations which I haven’t handled yet and I can’t wait God willing to achieve those aspirations.
I have been in tourism for close to 25 years from a sweeper to a team leader Great Lakes safaris and Uganda lodges Ltd plus a few other stuff outside tourism. A personal home or house according to me who has a lot of experience isn’t a big achievement reason it has come many years after working and building a business or businesses for many years.
Let me give you an example, many guys many years ago shared houses and land in Kololo and nakasero out of excitement. Many years down the line, it’s the people with cash flows who bought them out. They couldn’t maintain or even look after them. The people that chose to build cashflows over many years, simply walked into banks and bought out those who valued the wrong things. I know a businessman who owns over 30 plots in kololo and when he told me the stories about how he bought out former owners, I couldn’t believe.
I know we have been told to go to school for a degree or degrees, look for a job thereafter, build a house and marry and then wait until you die. It’s one of the reasons we Ugandans (Africans) havent aspired to own banks, 5 star hotels, telcoms, construction companies, energy companies etc.
It’s very easy to achieve what society expects of us. Study hard, get a job, build a house, marry and die. Most people attain that quickily and then create a new list basics like driving latest number plate, drinking every night, accumulating shoes, suits, handbags, latest phones etc. They get so angry if you told them there is more to life that…..
The family generally speaking seems very excited about the new home and I remember driving my wife and daughter to the house one evening and my daughter hugged me so tightly and said dad, thank you so much. We can see your efforts close to us and yes, I felt a little sad and apologized for taking so long to build a house for them. My daughter quickly said, you would have probably not built one like this and I agreed with her.
I only felt guilty because of what my wife and daughter expressed. My dream house as a person is a 2 bedroomed house facing the Nile in Jinja if God gives me life. Many years ago, I bought the location and it was ushs 800k per acre and we have planted many fruiting trees.The house has been built in the way that it can be transformed into an Airbed and breakfast. The compound has 7 self contained bedrooms which could host tourists at a cost in future for the retired Wekesa God willing. Since I know how to position businesses like that, this can’t be a problem.
I write about the 10 months it took to build this….but I must appreciate the fact that my wife and daughter pushed me into doing this at the beginning of last year. Told them design a house you want, I will build it for you. I will introduce they arctect they worked with.
Do you think it’s right to first create cashflow sources then start construction of personal house? I’d love to hear from you.
Don’t forget to share this post with someone out there.
Each One Teach One.
Credit: Amos Wekesa Managing Director Great Lakes Safari Ltd and Uganda Lodges Ltd.
Fahad Bruhan Jr is the founder of Afripreneur Nation, a community which focuses on building the capacity of African entrepreneurs and small business owners.
He is an Entrepreneur who works and invests in pre-startups. He is also writer in the fields of business, investment and personal finance.
