4 Important Questions People Must Ask Before Buying or Renting a Property in Ghana

4 Important Questions People Must Ask Before Buying or Renting a Property in Ghana

  • There are a number of important questions to ask before making the huge decision to either buy or rent an apartment
  • A lot of people may have the money to buy a home but they may not get the best value for their money because they have no clue about the real estate industry
  • Asking questions helps the buyer to weed out properties that may not be the best for them and help them make the right decision

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The only time many people are curious about the real estate space is when they are ready to either rent or buy a home. Also, there are many dubious people posing as agents and landlords who are ready to pounce on unsuspecting victims. In this article, YEN.com.gh highlights questions that property seekers must definitely ask before splurging cash on a home.

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A couple goes to see a house they are considering buying
A couple goes to see a house they are considering buying. Photo credit: Getty Images. Source: Getty Images
Source: Getty Images

Can I Come for a Property Viewing?

Going to see the place one intends to stay before making a payment is non-negotiable. If landlords are hesitant about granting a property viewing, then it is most likely that they may be imposters or are trying to hide a major defect in the house.

What Should I Look out for in a Neighbourhood?

People have specific needs and why they prefer certain neighbourhoods. It is important to first determine what to look out for in a neighbourhood before choosing a house. Some things to consider are schools, hospitals and supermarkets.

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Should I Work With a Real Estate Agent?

It is almost impossible to rent or buy a house in Ghana without the help of a real estate agent. They know where to find available properties for rent and can also advise property seekers on making informed decisions. The challenge however is finding the most appropriate agent out of the lot.

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4 reasons why houses are expensive in Ghana

Should I take a Mortgage?

Mortgages are home loans people take to finance a property. They are a great way to pay back in instalments for one's dream. However, they may also come with a high-interest rate. There is also the risk of losing the house when buyers default on the monthly payment. It is important to assess one's financial capacity before making a decision.

4 Reasons Why Houses are Expensive to Buy in Ghana

In an earlier article, YEN.com.gh wrote about why houses are expensive in Ghana. The salary of the average Ghanaian makes it virtually impossible for them to ever dream of buying a house. In addition to that, many estate developers take huge loans from banks to finance their building projects and they expect to recoup their monies from the sale of the houses.

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Source: YEN.com.gh

Richmond Setrana avatar

Richmond Setrana Richmond Setrana is a real estate editor for YEN.com.gh with 5 years of writing experience. He graduated from KNUST in 2016 with a bachelor’s degree in Sociology and is currently enrolled in a MA—Mass Communications program with Liverpool John Moores University. He has written for reputable platforms like meqasa.com, Noanyi, Edanra and Yourcommonwealth.org. He can be reached via: richmond.setrana@yen.com.gh