Ghanaian Property Consultant Advises People About What To Do Before Renting Or Buying A House In Ghana

• There are some mistakes people make when they are shopping for properties, which can cause them to lose large amounts of money in the process
• Most of these mistakes are avoidable and are usually committed by first-time homebuyers who do not have any experience in the real estate industry
• Such mistakes can be avoided if they decide to deal with credible real estate agents and developers who can help them land their dream property

Many people feel they can navigate the real estate industry without much help from anyone. However, people should not expect to be experts in real estate the first time they start out. Landing the dream home requires knowledge, perseverance, and experience.

Speaking exclusively to YEN.com.gh, Raphael Odjerbio, Property Consultant at Rajo City Realty, says that buying or renting a property demands careful planning and approach.

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He explained:

It is very important to engage experts to advice you especially in making a purchase decision. Many people try to avoid professional players in the industry such as lawyers, valuers, architects, realtors and other industry experts in their decision making process just to cut down on cost.

The Property Consultant also said that over the past decade, the real estate business in Ghana has picked up tremendously, creating jobs for thousands of people within the industry's value chain. This is a result of the growing population and increasing demand for accommodation. According to Ralph, over 50 real estate developers are working hard to bridge the huge housing deficit in Ghana.

Touching on real estate investment, he said that though real estate seems quite expensive in Ghana, it also provides a good return on investment for investors, and it's helping to build infrastructure in some deprived areas. He explained that:

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In the next 5-10 years, many beautifully designed buildings will change the city's skyline, and those who invest in real estate now will look back and be happy.

According to Mr Odjerbio, success in the real estate market depends on whether property buyers or renters are willing to work with industry experts since the latter know the ins and outs of the sector. In his words:

Buying or renting a property requires proper due diligence on knowing the right market price, history of the neighbourhood in which the property is located, present and past owners of the property and how it was acquired among others.

Mr Ralph Odjerbio further talked about the five things first-time property buyers or renters should do. YEN.com.gh mentions them below.

Have a detailed description of your ideal home

Mr Ralph Odjerbio asserts that people hunting for properties should have a picture of their perfect home in their minds. The image in their heads should spell out aspects of the home that are non-compromisable such as location or size of rooms. This would prevent people from regretting later after they have purchased the house.

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Check online real estate websites to have a clear idea about the price ranges

The Property Consultant argued that people must compare the prices of properties they are interested in by checking online property portals. He said this was a sure way to safeguard against overpaying for a property.

Have a clear budget

Ralph asserts that it is important for people to have a budget in mind before shopping for houses. This would guard people against overspending on a house or buying a house that is outside of their financial strength. He added that people should start looking at houses below their budget before working their way up to those within their budget. This would keep their expectations realistic.

Engage the services of real estate professionals

As earlier stated, Mr Ralph Odjerbio explained that people should work with real estate professionals, not avoid them. This is because real estate professionals have your best interests. They can guide you through the real estate process because they have in-depth expertise in the sector. If required, your agent can also recommend a real estate lawyer to assist with contract completion and also help provide legal advice. Additionally, they will assist you with the closing process by reviewing each document to ensure that all requirements have been satisfied.

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5 Real Estate Professionals People Need When They Are Building Their Dream Homes

In an earlier story, YEN.com.gh wrote about real estate professionals people need when building their houses. Building a house requires teamwork and the assistance of certain seasoned experts. One may have complete control over the design of their dream house and its overall functionality.

However, employing the right real estate professionals will help people bring their dream homes to life without stress. It is best to assemble a team of experts to manage the numerous facets of your house's construction, from drawing up designs to interior design. YEN.com.gh mentions five professionals who can help people build a bespoke home.

Source: YEN.com.gh