Christopher Asiimwe one of the key note speakers at “How to own property in your youth” event that happened 19th Saturday 2020 noted that if you are to use loans to own property, get loans that you will be able to pay back.
“If there is a property you want to buy, save a minimal amount of money, the get a loan to supplement on that money. Getting a loan without any saving is suicidal, its should always be a supplement to what you already have,” he said.
After acquiring the loan, make it your number one priority to pay it back. He noted that most people get loans and think they can pay when they want , others don’t pay back at all. A bank should be your friend, incase you don’t have the money, go and talk to them, they are your friends and will understand you, and give you means on how to pay it back effectively.
Don’t get so many loans when you don’t have the ability to pay them back. Some people have loans from different banks and in the end fail to pay any of them. Get minimal loans, pay and grow.
Asiimwe added that you shouldn’t divert loan money to other things, if you got money tp buy land don’t use it to take children to school. the moment you divert the money, you will have missed your goal.