Getting A Mortgage, And 2 Other Things People Should Consider When Buying A House For The First Time In Ghana

• Buying a house for the first time can be an arduous task for people who are not abreast with how the real estate industry works
• People have lost more money than necessary in their pursuit of a dream home because of certain loopholes in the housing sector
• Knowing what to look out for before venturing into the homebuyer's market is one's ticket to landing a sweet deal

Ghana's real estate industry is a seller's market favouring landlords and real estate companies. However, for homebuyers to land a good deal, they must be aware of certain important factors. YEN.com.gh mentions them below.

Consider a Home Loan

Because of flexible payment options, mortgage providers have made it easy for more people to buy their dream homes. Home loans frequently have cheaper loan rates or demand smaller down payments. Before committing to a specific mortgage, be sure to research the packages various lenders provide.

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Avoiding large payments and 2 other things people should avoid after they secure a home loan in Ghana

Make a List Of Non-Negotiable Home Features

Remember that many home features, such as the kitchen, bathrooms, and bedrooms, can be changed. However, the location and plot size are some things that cannot be changed in a home. Have a list of things you are not willing to compromise on when buying a house, so you don't regret the decision later.

Hire a Real Estate Agent

A real estate agent excels at finding the home that best meets your needs. They will be able to inform you of a home's fair asking price, the quality of the area, and the rate at which homes are selling. They'll be able to represent you in negotiations and create the necessary papers for you.

While it is feasible to do everything alone, a first-time home buyer is always better off working with an agent.

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How people in Ghana can keep their homes safe when buying or renting a property

After Applying For A Home Loan In Ghana, Avoid Making Mistakes Like Making Large Payments And 2 Others

In an earlier story, YEN.com.gh wrote about people can avoid making mistakes after applying for a home loan. Mortgages, sometimes called home loans, are becoming common in Ghana as more individuals are given a chance to own homes.

However, many individuals are unaware of the benefits and drawbacks of obtaining a home loan or what they can and cannot do once they get one.

Source: YEN.com.gh