Fastest Path to Owning a House in Ghana: Construction Expert & Project Manager Advises
- The CEO of Africa Building Hub, Nana Kwaku, has disclosed one of the most underexploited secrets that could help many Ghanaians own a home
- Factors such as the total cost involved and land acquisition are the major issues stopping many people from embarking on building
- However, the expert who has been working on ambitious projects at the highest level believes there is a smart way to circumvent this
For many people, owning a home remains a top priority, but that dream remains elusive for most, primarily due to the costs involved.
Source: Twitter
But what if there was a way people could reduce building costs and own a home affordably?
The CEO of Africa Building Hub, Nana Kwaku, an expert in the construction industry, has provided insights on how this could be achieved.
Speaking in a TikTok video, Kwaku said one of the most efficient ways of becoming a homeowner is by purchasing an uncompleted building, which he argued is a shortcut towards home ownership.
In his view, more often than not, the owner of the uncompleted property has a clear view of what they are purchasing, making the investment more worthwhile.
Breaking down his point further, he stated that a potential buyer is allowed to inspect a property, which gives them the advantage of knowing the type of construction materials used to put up the building and the overall structural soundness of the property.
This, he argued, is important as it enables the buyer to assess any integrity issues before committing to invest. Once they have established that everything is sound, they can proceed to finish the structure into a lovely and safe home for their family.
Financial benefits of buying unfinished homes
The financial benefits, he continued, are an added advantage.
Persons looking to sell uncompleted buildings more often than not only calculate what they have spent on building materials until the point of sale, plus the cost of the land, meaning that most of them are typically not looking to make a large profit.
All these factors combined mean that buying an uncompleted building makes more sense than building a new home from scratch.
Factor this: Buying a partially constructed building saves on time and insulates the potential buyer from inflation.
Nana Kwaku argues that this helps persons looking to own a home avoid land acquisition challenges, which are a big issue in Ghana today.
Some of these issues include: dealing with land guards, contested land leading to multiple claimants, delays in document processing and tedious court cases.
Watch the video of his explanation below:
Most of these issues make the process of owning a home painful, protracted and expensive. This can be avoided by simply buying an uncompleted building as recommended by the construction expert.
Source: Twitter
How ₵2,000–₵2,500 salary earners could build
Previously, YEN.com.gh reported that Philips Construction demonstrated how anyone earning a GH₵2,000 to GH₵2,500 monthly salary could start building their own house.
He emphasised that the trick is in cost control. One has to be smart about where and how they acquire the land. The prospective homeowner also has to be practical and issue realistic demands to the architect in line with their budget.
Allowing a contractor to break the construction costs into manageable phases is also another smart way of navigating the process.
Proofreading by Samuel Gitonga, copy editor at YEN.com.gh.
Source: YEN.com.gh
