Ghanaian real estate is a great place to invest. Many people are looking for an apartment, house or hotel in Ghana. This means that you can make money by buying property and renting it out to the local residents. Read on to find out about some of the best places to buy real estate in Ghana.
The tone used throughout this blog post is very professional as well as informative. The author uses simple language so that any reader will be able to understand without being confused or lost during reading time.
There are many reasons why people prefer to invest in real estate in Ghana. The first reason is because the prices in the country are affordable. You can buy a house for as little as $20,000 while a two bedroom apartment could be bought for $40,000. The second reason is the guaranteed returns. Unlike the stock market or an investment in a bank, your money can grow in real estate and as the years go by, it can become more. The third reason is because most of the properties are brand new. In the whole of Africa, there is only one original building that has been standing for over 50 years. The others were converted from wood and plastic structures. The last reason is because if you look at all the countries in Africa, Ghana has the least amount of corruption.
1. District houses in Accra
The District Houses in Accra are the best location in Ghana where you can rent out your house. The nice thing about this location is that you don’t need a lot of space to get a decent accommodation. These places are very small, but you can put a good amount of money into them without having to make them full-fledged apartments.
If you want to have the best real estate choice in Ghana, then go for District Houses in Accra. You can buy one, two or even three houses to be able to accommodate more than ten people in your accommodation. You can buy them individually or in groups. The price of a house varies from £90,000 (which is the going rate at the moment) to £300,000.
You will need to do some research before going on to buy a property.
1. Check the local laws and regulations
Make sure that the property you are looking for is up to the local laws and is up to the standards. For instance, if the land does not belong to you, it is best to ask for the permission of the authorities so that you can rent it out legally.
2. Check the property with a consultant
If you don’t want to look for it yourself, you can hire a company who will do the necessary checks for you.
3. Check the property for maintenance
The previous tenants have used the property and it needs maintenance so that it will be in good condition for you to rent it out again. Ensure that the property is well maintained before going ahead with any deal.
Best places to buy property in Ghana
4.
By law, all Ghanaians must apply for a business permit before they can register as a real estate agent in Ghana.
You will be required to carry out an interview and a physical background check. There are people who claim they can take you to buy property. However, you should always carry out this application and check with the police to ensure you are fully qualified and legally allowed to sell real estate.
Step by step guide of how to buy property in Ghana
Step 1: Speak with your real estate broker about a property you would like to buy.
Step 2: If the property has an attached house or apartment, you need to purchase the house first. This way, you can use the owner's house and still make some money from the properties.
To buy a property in Ghana you should meet with a private seller first. This seller will be the one that has the property you want to buy. The initial price will be established at this point.
Since Ghanaians are keen to sell their property at the same time they sell their goods in the market, they are willing to negotiate the price. Negotiating is an art which should be mastered by real estate experts. They have the knowledge to haggle with the seller.
After a few rounds of negotiation the price is agreed upon and you will sign the contract with the seller. The process of buying a property in Ghana from a private seller is more convenient as it does not have any taxes.
For people who want to buy a property in Ghana the process is less complicated.
You can buy properties, both residential and commercial in Ghana. There are many types of properties, including flats, houses, apartments, and houses. Let's learn more about each type of property, so you know where to start if you want to buy.
1. Residential property
One of the most common types of property is residential. A house or flat is an integral part of the home. The most typical residential structures in Ghana include, bungalows, studio apartments, single houses, two-room apartments, terrace houses, and apartments. A "house" in Ghana is usually an apartment with a proper layout. It usually includes a kitchen, a bath, living room and an office. The sizes of these apartments vary depending on the location of the apartment.
2.
The most typical way to purchase property in Ghana is to buy it from a developer. Many investors invest in a real estate development company because they’re willing to accept an initial investment as well as having their money go towards buying property.
To be clear, developers generally buy properties for resale and not as investment properties. You are probably reading this post because you’re looking to purchase property and need advice on which one to buy from a developer.
However, keep in mind that if you invest in a property with a developer, you should only put down 50% down as opposed to the 60% or 80% required when purchasing property through a bank.
Nevertheless, if you choose a developer, you’ll have to understand the risks involved and the fees that the developer charges.
The buying and building of your own home in Ghana is one of the best ways of building your own home. The process is simple and not expensive and it is really the best way to get your own home in Ghana.
If you have enough funds, you can buy land in Accra or Kumasi and build your own home. If you don’t have the money, you can rent out your room or an apartment in any of the major cities.
Accra:
If you want to find out more about Accra, you can visit this link: http://www.kimonotravel.com/gb/en/my-favorite-accra-hotels.php. This website is great and informative as well. It helps you to plan your trip to Accra well and it has a lot of beautiful photos of the major attractions of Accra.
