March 7, 2021
Buying a house and enjoying the comfort one desires is a dream for everyone living in Ghana, be it a Ghanaian or a foreign national.
This dream has necessitated a high demand for houses in Ghana and with a given market supply, resulting in many Landowners duping clients by selling the same plot of land to different prospective buyers. This has actually given rise to land litigation problems in Ghana and therefore making it difficult for individuals who dream of owning a house from realizing their dreams.
It is therefore an undeniable fact that property buyers must be very meticulous in making a decision as to where to purchase a property from.
In the next paragraphs, I will throw more light on some of the important things to look for when buying a property in Ghana and the reasons why you need to have your property in a gated community.
Security and Quality of Property
Aside from the high rate of land litigation issues attributed to buying an individual property in Ghana, homeowners are also faced with security and quality problems. Buying a property from individual property owners often comes with little or no security, low-quality buildings at ridiculous prices all in the name of “PROFIT MAXIMIZATION”. This is very true because, unlike real estate companies which utmost priority is in building and maintaining a brand, focusing on the quality of their property or lifestyle of its homeowners, and delivering good after-sales service, individual property owners have no brand to build and for that matter, are only interested in selling off their property and making abnormal profits and eventually exiting the market.
That notwithstanding, the country is in an era where security has been a major challenge for the government. We have seen the killing of a sitting MP in his private residence, the murdering of a law professor also in his private residence, and many other criminal activities that have taken place in the private residence of many Ghanaians. It is because of this and many other reasons that one is always advised to look out for a gated community where security is tight and robbers cannot enter to commit such heinous crimes. So in searching for a beautiful property to buy, also consider how safe your life will be in that property.
Return On Investment
The aim of every investor is to get the best rental income or cash flow from its asset column. To do this, one must invest in the right property and understand the game in the property market.
Research shows prices of houses in Ghana appreciate by 6-9% annually. This annual increase in prices provides good assurance for property investors who invest in the ‘’right properties’’. And also stand the opportunity to earn high returns on their investment.
Due to the extra value, a gated community in Ghana provides, property investors who purchase from gated communities or real estate companies are able to sell and make a reasonable profit in the long run. It is advisable for property owners to look at the extra value a property has before purchasing, so as to preclude the possibility of investing in the wrong property. Access to electricity, the frequent flow of water, tight security, good after-sales service, and access roads are some of the things that add value to a property. Property buyers should always watch out for these before making a decision.
Comfort and a Good After Sales Service.
Buying a house is more than the physical property itself. Too often, property buyers only consider physical property and forget to look out for comfort and good after-sales service. One may encounter some challenges short after purchasing a house and so, to enjoy your stay in that property, you would need someone who will constantly be in touch to assist you with whatever problems you have, and not the one who only values the transaction.
Most of these benefits come from a gated community and not an individual who sells a property to you. Real estate companies focus not only on selling the physical property but also on providing a lifestyle and the comfort you desire. Serving clients and providing clients with a safe, secured, and peaceful environment is the utmost priority of most gated communities.
The Way Forward
Despite these challenges, people face in the property industry in Ghana, some few real estate companies have been able to prove they are credibly worthy and their many years of good reputation in the Ghanaian real estate industry speaks for itself. One amongst them is Waylead (Company) Ghana Limited: a real estate company that specializes in commercial and residential retail in Ghana.
Waylead has provided adorable homes which fit individual lifestyle and also serve as a safe investment package for property owners in Ghana. Its first project is situated at East airport, where it can boast of 22 exclusive detached houses with full amenities all in a gated community. Currently, underway is 56 -detached houses and bright and spacious 240 apartment units with a swimming pool, gym centre, basketball court, football pitch and tennis court for their clients. With real estate companies like waylead, one is always assured of Security and litigation free land, simply because, they value the client’s interest than their transaction.
According to the Managing Director, Keegan Wang, their aim is not only to provide people with litigation free land/property but also provide security, a friendly environment and a safe and secured investment package for homeowners.
As a Ghanaian as well as a realtor who has been in the market for a long, I will personally advise property buyers to consider gated community as their first choice.
Lead Broker/Real estate Marketer.