5 Ways to Pay for Property in Ghana
Are you ready to make your dream of owning property in Ghana a reality but unsure about financing options? Fear not! We’ve got you covered with five alternative ways to pay for property in Ghana beyond using cash.
- Mortgages: While not as common as cash transactions, mortgages offer a viable option for financing your property purchase. Approach banks or financial institutions to secure a loan and repay it throughout 7 to 15 years.
- Seller Financing: In this arrangement, you make a down payment during the initial stages of development and pay the remaining balance in agreed-upon instalments as the project progresses. It’s a flexible option for those who need more time to pay.
- Payment Plans: Propose an installment plan to the property owner, paying a portion of the deposit upfront (usually 50-70%) and spreading the remainder over an agreed-upon period. It’s a win-win solution for both parties.
- Swaps: Explore the possibility of exchanging properties of similar value with the landowner. This option is particularly common for trading lands and vehicles, offering an alternative to traditional payment methods.
- Consult with a Real Estate Broker: For expert guidance and access to property owners open to flexible terms, consider engaging a real estate broker. They can help match you with the right property and negotiate favorable financing arrangements.
Don’t let financing hold you back from owning your piece of paradise in Ghana. With these options at your disposal and Efiedwam Real Estate’s expertise, your dream home is within reach. Plus, for our diaspora audience dreaming of owning property in Ghana, Efiedwam offers mortgage options tailored to your needs. Contact us today to take the first step towards homeownership in Ghana!
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