Car Obsession: Why buying a car is better than buying land in Uganda

There are people who prefer cars, those who prefer land, and those who have both. A person with both may be able to settle this debate but the reason behind it is more complicated than logic and statistics.

Both assets are investment resources, that boost your independence and self-sufficiency.

But when it comes down to it, cars have a bigger emotional payoff than land. Most purchases are emotionally driven and even if the land has better investment prospects in the long run, it doesn't have a big emotional payoff.

Land makes you rich but a car makes you feel rich.

However, there are factors to consider such as a person's values, beliefs, and if they have come into money recently, among others.

When it comes to buying a car, it is a power thing. Men, especially, see cars as extensions of themselves. Speed, adventure, freedom, status, etc.

That being said, let's look at some of the benefits of buying a car over land.

Fewer risks of money loss

Buying land in Uganda can be an extreme sport when you could be enjoying an extreme sport in your new Subaru. Risks like buying in swamp areas, paying for forged documents, and being scammed by brokers and land owners.

The process of buying land can be grueling and stressful. Even more so if you don't have plans of developing the land any time soon.

This is not to say that once you buy a car you will not buy land. But as a first purchase, it can be more stressful. No wonder some people avoid it.

Repurposing

It is easier to repurpose a car for financial gain through services like uber and delivery. Land, on the other hand, is a bit tricky to repurpose if it is not developed for housing.

That being said, cars can be the most underused and expensive purchases anyone can make. They are parked for more time than they are used. They can be incredibly expensive to maintain. Whereas land gains value with time and is a more solid investment.