A house is a single-unit residential building, which may range in complexity from a rudimentary hut to a complex structure of wood, masonry, concrete or other material, outfitted with plumbing, electrical, and heating, ventilation, and air conditioning systems.
Background
Buying a house in Ghana should be very easy when you are a renowned real estate agent or experienced real estate buyer. However, if this is your first time trying to buy a house in Ghana, this article should help explain how to do it.
Apart from having the capital, finding the right house in the perfect location might not be easy for any buyer, especially when that buyer doesn’t reside in Ghana. Residents in Ghana might have the advantage of knowing the locations that best suit them.
Identify The Value Of Desired Locations
The most important thing is identifying the value of desired locations and comparing prices to determine whether the price for the house is worth its location in terms of economics and market valuation. As a buying agent, you must know and understand the nitty-gritty and processes involved in acquiring a property.
During these processes, any small mistake or discrepancy might result in the loss of huge sums of money. Also, when you understand your buying rights and the best strategies to bargain with and arrive at your perfect amount, you will save money, time and some change to boot..
How much does it cost to buy a house in Ghana?
Currently, prices for fully-furnished three-bedroom houses in Accra range from US$100,000 to US$500,000 – about 15% higher than in rest of Ghana. Most high-end residential properties are in Accra’s traditional prime nodes: Airport Residential Area, Cantonments, Labone, Roman Ridge, and Ridge.
How much deposit do I need to buy a house in Ghana?
20% deposit Mortgage/Loan
For this payment option, the client will be required to pay a minimum of 20% deposit as indicated by mortgage institution and submit the supporting mortgage facility letter to us for processing.
Most mortgage institutions give you up to 15 years to pay back in monthly installments.
Can a foreigner buy a house in Ghana?
There are no restrictions on foreigners buying property in Ghana. However, different kinds of land, some of which cannot be privately owned. There are four types of land in Ghana: Government Land, Vested Land, Customary/Stool Land, and Family/Private Land.