Housing Expo highlights financial readiness for homebuyers

An affordable housing expo was held at the Gateway Centre from 17-19 October 2024 a first of its kind for Namibia. Dream Bond, a Namibian-based company that meets the needs of home buyers and facilitator of the expo, highlighted the need for better education and resources for aspiring Namibian homeowners. According to Dream Bond’s general manager, Mildred Xawes, many potential homeowners in Namibia struggle with obtaining the right information and tools to make informed decisions when entering the property market. “Our company recognised this gap and established operations to address these needs. We aim to bring buyers ease of mind throughout the entire process,” Xawes said.



Housing mortgage

Dream Bond’s approach is designed to help Namibians understand the full housing value chain and how they can position themselves to benefit from it. Xawes emphasised that affordability is a crucial factor that many first-time buyers overlook. “The amount you earn, whether N$50,000 or N$60,000, directly impacts your loan terms, which in turn affects your monthly instalments,” she explained during the event. She advised prospective homeowners to carefully assess their financial situation before committing to a property. When asked whether first-year employees should consider purchasing property immediately, Xawes recommended caution. “I wouldn’t advise anyone to rush into buying a property. It’s important to be as informed as possible and financially mature before making such a significant investment,” she said.

Dream Bond’s participation at the expo sought to provide much-needed insights into property ownership, offering guidance to those looking to enter the market. The event underscored the importance of making informed decisions and ensuring financial readiness for prospective homeowners across Namibia.



Shack Dwellers Federation

The Shack Dwellers Federation of Namibia has transformed the lives of thousands of Namibians by helping low-income earners build affordable homes through community-driven savings schemes. At the recent Affordable Housing Expo, Ronnie Hochobes, Shack dwellers regional facilitator discussed the organisation's achievements and how it continues to uplift communities. "So far, we have constructed around 8,000 houses countrywide. Our membership has grown significantly, and we have formed partnerships to further our mission," she said. The SDFN partners with local councils and the government to secure land for housing projects, with savings from community members serving as the backbone of the organisation’s efforts. The process begins with individuals joining saving groups, a critical step toward owning a home. "Savings are the engine of the organisation," Hochobes explained. "Members contribute whatever they can afford, whether it’s N$10 or N$20 at group meetings. These savings enable them to buy land and eventually build their homes." The federation’s housing projects are incremental, meaning members can start with a smaller house and expand it over time. This approach allows individuals to build homes within their financial means while fostering a sense of empowerment and community. "We do not only build houses but also teach our members the value of saving with purpose and managing group funds responsibly," Hochobes concluded.