Many low income families especially those headed by women aspire to homeownership but believe they can’t due to obstacles like high mortgage interest rates
, expensive and uncertain rent,lack of Finance,rising home prices among others.
Our aim is to get those who want to own their own home, but aren’t quite in the position to buy yet, on the first step of the property ladder.
With Our rent to own model, you choose a new build house in one of our communities, either daily, weekly or monthly payments so that you own your new home outright within just eight years.
Namono lives with her aged mother.She got married 2 years back and has a baby along the way.Namono works as a saleswoman at a fashion apparel store.She also takes up side jobs on weekends to make some extra money.Namono has been the sole earner in the family. Her dad passed away when she was 14 years old, and has since been working through hardships to support herself and her mother.
Namono's husband had estranged her when she disclosed her pregnancy. Namono now looks after herself on her own. However, she feels increasingly tired and doubts if she can work as much as she would before. Namono practically has zero savings. Most of them are depleted in paying rent, and she stays worried with expenses. Namono is terrified as to how she'll be able to make ends meet.Namono hopes that somehow banks would lend her some money to build her own place and escape the rental debt trap but the banking system has never favored her.
To date Rent to Own has helped numerous people from all walks of life on their journey to homeownership, here are just a few examples.
Meet the Asiimwe Household!
“It’s an excellent investment to own a house in the Kampala Metropolitan, is affordable, and has a financially friendly payment plan. In addition, the idea of living in the house as you pay for it, unlike other mortgage options, is very attractive and considerate.”
Meet the Batambuze Household!
“SHA has helped me to start my homeownership Journey, a dream I never thought I would accomplish by myself. We have been offered decent housing at an affordable price, something we never thought of in day and era.”
“ Its a great Opportunity to own a home in an organised community.”
We have 8 steps to Rent to Own your new home with us
1. Apply online!
Apply online at shafrica.org.Prepare your documents and wait to hear from us.We will respond to home applications within seven days
2. What we'll do.
We will then assess your application which will include a credit check and reviewing your overall affordability.
3. Property selection.
Once you have received a Decision in Principle, which outlines the maximum property price you qualify for based on your affordability, the house selection in one of our communities can begin! You will be taken through by our team to select your dream home
4. The legal bit.
At this point we will share the rent to own contract for signing with you.
5. Down payment.
Before you move into your new home, you pay us a down payment equivalent to 4 month’s rent and
insurance for the property.
6. Property completion.
We will prepare the keys and inspect the property to ensure it has been completed with the turnkey specification agreed.
7. Move in!.
You can move into your new home to begin your homeownership Journey at an agreed date after completion. We will meet you at your new home to confirm the snag list and to complete a full inventory. 8. Plan to buy your home
Throughout your tenancy, a member of the team will contact you to ensure that you continously meet your monthly obligations and are on target to continoue the purchase of the property by the end of the 8 year.