Mon | Apr 24, 2017

JNBS endorses Build on Own Land concept

Published:Friday | August 22, 2014 | 8:00 AM

THE BUILD on Own Land (BOL) concept is now poised to become an attractive housing solution for many landowners, who are eyeing the prospect of developing their properties, particularly in rural parishes.

Yuval Moaz of Ashtrom Development said the introduction of the BOL model was based on market research, which reflected the housing needs of Jamaicans.

"The results of the research have triggered an increasing number of requests from persons enquiring about the possibility of having their houses designed and constructed," he said.

Since its establishment 25 years ago, Ashtrom's mandate was to provide affordable housing solutions through government and private business contracts. However, its formal break into individual housing contracts started in 2013.

"Affordability, timeliness and a hassle-free process are the top priorities for prospective home-owners," Moaz said. "And the Build on Own Land concept offers those options to buyers."

There are numerous advantages when it comes to this concept, and he explained, "Our prices oftentimes come as a surprise to persons when they hear how much the units go for. Clients can, upon the initial agreement, have their homes finished and installed within eight weeks."

He pointed out that clients are able to access well-tailored packages, covering the initial architectural plan to the installation of the house and including amenities such as plumbing and electrical wiring. Houses are also delivered painted in the owner's choice of colours, along with fixtures such as cupboards, sinks and tiles.

The process

"We take care of everything. We get approvals from the different boards and authorities such as KSAC (Kingston and St Andrew Corporation) and the parish council; and we construct a blueprint of the house design based on the desire and consent of the client. And, following approval of the site and inspection, the units are made in our factory and transported and installed on the land," he added.

Tiffany Gordon, mortgage sales executive, Jamaica National Building Society (JNBS), says the BOL concept is one that is welcomed by the local housing industry given the price tags associated with these homes. She also noted that the concept will provide landowners with the opportunity to increase their investments.

"At JNBS, we recognise that Jamaicans are looking for more affordable housing options. The economic climate has no doubt impacted on the housing sector, because of the limitations on investment capabilities and disposable incomes. And there, this BOL concept is an incredibly innovative solution for affordable housing for Jamaicans, once in ownership of land," Gordon stated.

She also noted that, there are many persons who have small land holdings who would like to develop on their investment, whether for personal use or as an income generator. This BOL concept is certainly encouraging for prospective homeowners who are legal owners of lots.