Posted: February 12 2018

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Five Tips On Buying A Property In Ghana

A property decision is one of the most important decisions you make in your life. For many it is a question of affordability. For some, convenience is their priority. Either way, a self-analysis is needed before concluding on an acquisition type.

Ghana’s leading property developer, Devtraco, shares a few tips you will need in your house hunting journey.

Land tenure

Is the property situated on a properly titled land? Unfortunately Ghana, and Accra in particular, is bedevilled with numerous land issues and a wrong move could haunt you for life. If you are acquiring property from an individual, you should request for land title documents to verify its authenticity. Next, head over to the Lands Commission to confirm its ownership. Typically, long serving real estate companies are safer to deal with since they assume all the associated risks.

Security

Your safety should be at the top of your priority list when making a property search. These days, Google and social media serve as powerful tools for information search. Check for records of criminal activity before doling out your money to a property owner. Alternatively you can ask friends, colleagues or family for help. It’s more reassuring when the property is within a guarded, gated estate. However if an estate isn’t your choice, make sure the neighborhood has a police station nearby or police patrolling the environs.

Proximity

You need to find out if the property you are interested in is close to amenities such as restaurants, shops or convenient stores. Some house hunters tend to overlook this and take long term actions they later live to regret. If you are a family person with kids, you need to go the extra mile to check whether schools of your preference are found within the area. Let’s not forget that arriving at your workplace on time is equally important.

Budget

Once your preferred location has been identified, It is very important to remain within budget. Greater Accra’s diversification means areas differ in terms of pricing. You can expect prices ranging from $50,000 (GHS225,000) to as high as millions of dollars. At this point you need to make key decisions. Is space more important to you than proximity? Or you are looking to move into a particular neighborhood to enjoy its facilities? If proximity to neighborhood facilities is highly important while on a relatively low budget, you need to consider smaller properties such as an apartment.

Building quality

It cannot be overemphasized how important this is. Choosing a developer for your home is like choosing a life partner. Make sure to carry your checks on each property developer you are considering. Check for indicators such as longevity in the market, number of properties sold and reviews from friends and the Internet.

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