Real Estate

Are you in the market for a new house in Ghana? With so many houses for sale, finding your dream home can be a daunting task. But don’t worry, we’re here to help. In this post, we’ll provide you with a guide to finding the perfect house for sale in Ghana.

1.Determine Your Budget

Before you start searching for houses for sale in Ghana, it’s essential to determine your budget. You don’t want to waste time looking at properties that are out of your price range. Consider your income, savings, and other financial obligations when determining your budget.

2.Choose a Location

The location of your dream home is just as important as the house itself. Ghana has a range of residential areas, each with its unique characteristics. Determine the location that suits your lifestyle, proximity to work, and access to amenities. Some of the popular residential areas in Ghana include East Legon, East Legon Hills, Cantonments, and Airport Residential Area in Accra, and Spintex Road, Tema, and Sakumono in Greater Accra.

3.Work with a Reputable Real Estate Agent

Working with a reputable real estate agent can make the process of finding a house for sale in Ghana much easier. Real estate agents have extensive knowledge of the market and can provide you with valuable insights into the properties that fit your budget and preferences. They can also help you negotiate the price and ensure that the transaction goes smoothly.

4.Consider a reputable and trusted Real Estate Developer

There has been an upsurge of housing developers in Ghana, but not all have the capacity to deliver the quality you may require. Some developers like Regimanuel Gray, who have been building for over 30 years, have extensive infrastructure (road networks, underground drainage systems, street lights etc) to support their housing development. Moreso the future of your property must be hedged with estate management services to ensure that the value of your investment appreciates considerably with time.

You should verify the commitment the Developer has for infrastructure and the management of the future physical outlook of the community where your property will be located.

5.View the Property in Person

Once you’ve identified a few houses that fit your budget and preferences, it’s essential to view them in person. This will give you a better sense of the property’s condition, location, and features. When viewing the property, pay attention to details such as the neighborhood, access to amenities, the condition of the property, and any potential repairs that may be needed.

Finding your dream home in Ghana doesn’t have to be a daunting task. By determining your budget, choosing a location, working with a reputable real estate agent, browsing online listings, and viewing the property in person, you can find the perfect house for sale in Ghana. Remember to take your time and conduct thorough research to ensure that you make the right decision. Good luck!

 

Are you struggling with Financing to buy a house in Ghana? Our Ultimate Guide to Installment Payments can help you!

Buying a house is a significant investment and can be daunting, especially when you don’t have a lump sum to pay upfront. Fortunately, buying a house in Ghana with installment payments is a viable option being introduced by real estate developers. With installment payments, you can spread out the cost of buying a house over time, making it more affordable for you.

In this blog post, we will guide you through the different installment payment options made available by real estate companies in Ghana, their pros and cons, and provide you with tips on how to choose the best option for you.

Installment Payment Options for Buying a House in Ghana

There are several installment payment plans that you can use to buy a house in Ghana. These include:

1. Developer’s Payment Plan: This plan is usually offered by some real estate developers as part of their sales and marketing strategy and would not exceed 12 calendar months. Under this plan, you make monthly payments to the developer until the full cost of the house is paid off. The interest rates charged on these plans can vary, or be non-existent in most cases, and they can come with different terms and conditions.
2. Rent-to-Own Plan: In this plan, you rent the house for a certain period and then own it after you have paid the agreed amount. The payments you make during the rental period go towards the purchase of the house. These plans can also come with different terms and conditions. In Ghana, this option is not usually available for the purchase of premium houses. It is mostly available with housing developments which are funded (fully or partly) by the Government.
3. Structured Payment Plan: This is a customized payment plan that can be negotiated with the seller of the property. The prospective homeowner would usually agree on a payment schedule and interest rate and make payments accordingly. It is advised that you critically check the details of the agreed terms and have both seller and buyer sign off with their respective witnesses.

Comparison of Installment Payment Plans

To help you choose the right installment payment plan for your needs, we’ve compared the key features of each of these plans in the table below:

Payment Plan	Interest Rate	Length of Plan	Eligibility Requirements
Developer’s Payment Plan	No	Usually, it does not exceed 12 months.	Requires proof of income, creditworthiness, and an initial deposit.
Rent-to-Own Plan	Varies	Varies and may last for years. You can occupy the property while paying for it.	May require proof of income, a deposit and creditworthiness
Structured Payment Plan	Negotiated	Usually, it does not exceed 12 months.	May require proof of income, creditworthiness, and an initial deposit.

Pros and Cons of Installment Payment Plans

Here are some of the pros and cons of using installment payment plans to buy a house in Ghana:

Pros:

1. You can own a home without a lump sum payment upfront.
2. Installment payment plans can make buying a home more affordable and accessible.
3. Some payment plans can come with lower interest rates compared to other forms of credit.

Cons:

1. Some installment payment plans can come with higher interest rates compared to other forms of credit.
2. You may be required to make monthly payments for an extended period.
3. You may have to pay additional fees, such as closing costs.

Tips for Choosing the Best Instalment Payment Plan

1. Compare different installment payment plans offered by real estate developers.
2. Consider the interest rates and terms of each plan to determine which one is the most affordable for you.
3. Make sure you understand the terms and conditions of the plan you choose, including any additional fees and payment schedules.
4. Determine if you meet the eligibility requirements for the plan you want to use.

Here is a table that compares installment payments offered at Regimanuel Gray Ltd.

Developer	Property	Payment plan	Interest Rate
Regimanuel Gray	Adom Gate Pearls	40% deposit, 40% at lintel, 20% at completion	0%
Regimanuel Gray	Adom Gate Pearls	50% deposit, remaining spread for 18 months	0%

Bank Financing (Mortgage)

Bank financing is another installment payment option available in Ghana. It involves obtaining a mortgage from a bank or other financial institution to finance the purchase of a house. The bank sets the interest rate and payment terms based on the applicant’s credit history and other factors.

Bank financing typically offers higher interest rates than developer financing and the application process is also more involving, and the approval process can take longer. It is advisable to compare the various plans based on what the banks are offering in terms of Interest Rate, Down Payment, Repayment Period and the Maximum Amount you can qualify for.

Pros and Cons of Installment Payment Options

Here are the pros and cons of each instalment payment option for buying a house in Ghana:

Developer Financing Pros:

• Faster approval process
• A more straightforward application process
• No need for a credit score

Developer Financing Cons:

• Higher interest rates
• Smaller maximum amount
• May require a large down payment

Bank Financing Pros:

• Lower interest rates
• Larger maximum amount
• Longer repayment period

Bank Financing Cons:

• Lengthy approval process
• Stringent credit score requirements
• Additional fees

 

Our guiding principles have shaped our ethos of excellence in the real estate industry in Ghana. We are dedicated to securing your investment by offering you a conducive community where your property can flourish. This is how we achieve it:

Well-Planned Community Infrastructure

 – Extensive underground drainage system to prevent flooding.
 – Properly maintained tarred roads.
 – Effective streetlights for enhanced safety and visibility.

Professional Estate Management

Our communities are professionally managed, by our Subsidiary RGEMC, to ensure security, orderliness, and the prevention of nuisance and other activities that have the propensity to devalue the community. (RGEMC – Regimanuel Gray Estate Management Company Ltd.)

Good Rental Income for Investment Property Owners

Owners of investment property at Regimanuel Gray enjoy a great deal of convenience and peace-of-mind with their buy-to-let properties.

Our platform facilitates the generation of regular rental income.

 – Your rent will be collected on time by our Estate Management Company.
 – Your property will be well-maintained before, during, and after the rental period.

Location

– Our developments flourish because we get the place right.
– Our research & development team ensures that the locations we choose give our homeowners appreciating value for generations.