It was uncommon to see apartment type of residential housing in Ghana. This is because in the past government was the biggest landlord. The style of housing that have existed since independence are huge colonial type of houses with acres of land around it. This style was inherited from the British colonial government.
Fast forward to the 2015, the government is no longer the biggest landlord. The private sector has taken over and Ghana real estate and it is booming. Investors are hungry for land to build elegant condominiums to satisfy the growing demand of the middle class who want their own piece of the Ghana dream. Hence, the rise of apartments in Ghana.
Due to this phenomenon the Ghana real estate landscape it changing. All over Accra you will see cranes littered in the skyline. Apartments are going up everywhere. Young people starting out in life prefer to have studio house or two bedrooms kind of housing instead of living in a huge home by themselves.
It must be said that though these two bedroom apartments have come to bridge the housing gap, these don’t come cheap for the average Ghanaian. These nice apartments are found in the posh residential areas. One unit could cost between $250,00 – 1,000,000 USD. The is by far more than what the average Ghanaian would earn in a decade. As the demand for apartments in Ghana continue to grow and the product is short supply, prices will continue to rise.
What you should know about Ghana before buying a home in any city
Many people consider buying a home as a great investment. Everyone would wish to buy a home because having it is the best thing for their family. Many prefer taking a mortgage that eats up some portion of their salary just to have a home.
The Accra Estate Houses is so diverse and it offers a large number of different solutions for those people who are interested in purchasing condo or renting their real estates.
First, before buying your home in Ghana, it is good to do research; it is always salient to look for time to know the basics. As a buyer, it is good to familiarize yourself with some info that will help you when you are buying your real estate in Ghana.
In case you are not able to get adequate information, you can choose to hire a real estate agent who will help you in the buying process. It is wise to gather all the details; this way, you will be able to find the best home.
Don’t be in a rush. Once you give a lot of time to research, you will be rewarded by finding a perfect home. The next tip that you should not ignore is that you should have a well-organized finance scheme. Relying on loans to buy a home is risky; it is recommended that you buy a home from your own savings.
It is also important to get a paperwork done before entering into negotiation of buying a home. Another thing that you should do is to inspect the house before moving in. It is always prudent to do a thorough home inspection. Inspecting lets you know the necessary alterations that you need to do once you move into your new home.
If you find a serious problem and the seller insist on fixing it, then walk away and find another house. If there are some problems or renovations that need to be done and the owner says that they will do it, then put that into writing. By doing so, you will have all the records which will make him commit to what he or she has promised.
In case you are not comfortable with the whole process that comes along when you are purchasing a home, you can hire a real estate agent. Real estate agents help to streamline all legal formalities; they are always there to ensure the buyer gets the best price.
There are many realtors who can do the job for you but you need to find a reliable one who is experienced. There are some realtors who may want to run away with your money so better do your research before trusting a given service provider