Buying Land from Real Estate Developers in Ghana: Advantages and Disadvantages
- Many people prefer buying land to buying houses because they may not be ready to build a house yet or may want to custom build their dream home
- The number one headache people face when buying land is dealing with fraudsters and issues with land litigation
- Many prefer to buy from established and credible real estate developers to save themselves the trouble of land issues
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In Ghana, it is not easy to come across a piece of land for sale that does not have any issues with traditional rulers, family inheritance or the government. This is why many opt to buy from real estate developers who have taken their time to do all these checks on behalf of their buyers.
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Nevertheless, there are a few downsides to buying land from developers even though there are many benefits. Let's start by listing some of the benefits.
It is Less Stressful
Buying land from developers is less stressful than buying from other places. As mentioned earlier, the developers do all the background checks to ensure that the land is free from trouble. When one wants to buy the land, they simply sign an agreement and the lease is given out.
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It is Usually Serviced
Lands from developers are usually serviced. This means that some basic amenities are made readily available such as electricity and water. This saves people the time and stress of having to pay extra cash to have them provided after paying for land.
Now that we are familiar with the benefits, we can go ahead and list a few downsides.
It is Expensive
Lands from real estate developers are usually more expensive than from other places. They justify the price tag with the amenities provided such as electricity and flowing water.
The lands are also usually in good locations or emerging areas which has the potential to become a highly sought-after neighbourhood.
Different Terms and Conditions
Buying land from developers comes with terms and conditions. Some developers may require buyers to build within a specified period of time even when the buyer may not be ready to build at the time.
It is important to check well with the company what their terms and conditions are before payment is made.
Sir John's Saga: Reactions as Will of Late Politician Containing Parcels of Achimota Forest Lands Leaks
In an earlier article, YEN.com.gh wrote about the four parcels of land in Achimota forest contained in Sir John's will. This sparked a lot of reactions from netizens who have lashed out at politicians for amassing wealth for themselves and their families at the expense of the masses.
Source: YEN.com.gh
