As a potential land buyer in Kumasi, Ghana it is important to have an understanding of what you are getting into. With the demand for land steadily increasing there has been a flood of new investors and buyers which has caused some challenges as well as opportunities for those looking to buy. In this guide we will cover everything from how much land costs, to what types of properties are available and even provide you with insider tips on where to look so that you can be ahead of the curve!
There are many factors that make the option of buying land in Ghana an attractive one for some buyers; namely the potential of acquiring a nice piece of land and having the land where they need it to be at a good price, without any hassle.
Also with a continuous need for land in both urban areas and for agricultural purposes, buying land in Ghana has a great potential for personal growth and financial gain.
For small scale land developers in Ghana, there are many benefits that come with buying land in Ghana from reputable land developers. The biggest benefit is that the investors can buy in a land package which the developer has built up over a number of years with a steady cash flow as opposed to having to pay for the land outright.
One of the most popular and major real estate markets in the country, Kumasi is home to the Tebu ethnic group. The Tebu are one of the most prominent ethnic groups in Ghana as they make up 1/5 of the country's population. As the largest ethnic group in the city of Kumasi, they influence a large amount of land and property in the region. The Tebu are also known as the "Chieftain Kings of Forest Land," making them one of the most prominent groups in the city, and within Ghana. With the growing popularity of the city and the opportunities for profit the province of Kumasi has provided, the demand for land has risen significantly over the last few years, and so has the price of land.
There are quite a few different types of property you can invest in, depending on your preferences and needs:
1. Properties with land: Some properties include land on which they build a house. These types of properties usually come at a much lower price, and are generally the cheapest types of property you can buy.
2. Residential properties: You will also be able to find some very attractive residential properties, with owners always ready to show them to buyers. These properties often come with standard features like a gate, and standard wiring (where possible).
3. Industrial: These properties are well equipped industrial buildings with very efficient facilities (such as air conditioning, flooring, etc.) and frequently a caretaker onsite.
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Your land search is not one or two-dimensional but rather one which involves using multiple layers to ensure that you are not wasting your time. Having a thorough understanding of the area, infrastructure, property prices and areas of focus that the area has will ensure that you can make the most of this vital step in acquiring land in Kumasi. This will be hugely beneficial to you because it will help you get the best value for your money.
Now let’s get to the main reason you should even consider buying land, how to find the property that is the best fit for your needs. The first thing you need to do is find an agent that you can trust and work with. With different land agents running various special deals it is important to find the one that has the best track record.
First and foremost, you need to ensure that you inspect the property that you are buying. This is an important step that will help you in choosing the property that is best for you. Most land buyers end up comparing two or three properties, and one of the first things they do is to verify the location. It is a good idea to get this work done as early as possible.
The examination is also a good chance for you to get some basic information about the property. This information can be especially useful for those looking to buy in the areas of construction, such as square footage, privacy and number of units in a development. If you can get some basic information about the property, you will have a better idea of the areas that will be most beneficial for you to explore.
Before you even start looking at the type of property you want, it is imperative to have a mortgage offer on your home or investment property. Nowadays the chances of having a mortgage with a bank or a financial institution are looking pretty good, and that is because there has been so much trust placed on the financial institution by people who either don’t have the funds or don’t have the ability to get one. Loans on properties are getting smaller which is great for buyers looking to get the latest trends and properties for sale.
