Most Ghanaians like to build their own homes and pay attention to every details in the process than to buy. According to Ghana Commercial bank construction report 2022, the Census housing report shows that Ghana builds 35,000 to 40,000 housing units per year. The residential units have increased in the last decade by 72.8% (from 3,392,745 in 2010 to 5,862,890 in 2021) .Residential units makes up of 70% of the construction sector.
It begs the question again, should you just buy already existing home or build one from ground up? It depends on many factors which I will discuss in a bit. For some it will take years to finally complete the building. Ghana is cash country as access to construction loan is pretty difficult. Even if you are able to obtain it, interest rate on it is so high that it will run you dry.
Building a house can be hell on earth. Are you willing to get your hands dirty? Do you have your funds ready or you plan building from your monthly income? Are you a local or in the diaspora? You don’t want to hand it over to family and friends. We have seen unthinkable stories of the outcome of that arrangement. Building requires your physical presence unless you contract a developer to build it for you. We have one-stop-shop real estate services that cater for the diaspora and locals.
HOW LONG DOES IT TAKES TO BUILD A HOUSE IN GHANA?
To be aggressive, it will take you 12 to 24months before the project is completed. That is if you have your funds lined up. Most Ghanaians build as they earn. If you are depending on your paycheck to build, then that will take you longer depending on you budget set aside for the project.
HOW MANY YEARS DOES IT TAKE TO BULD A HOUSE IN GHANA?
Some development projects run up to 5 or 10 or 15 years before completion. This is because they are self-funded. If for any reason the builder lost his job or source of income, that could have an impact on the project. If you drive around Accra, you will see several uncompleted buildings whose owners run out of cash.
Another reason why it takes donkey’s years is court injunction. Most lands have issue which ranges from greed to improper documentation. If you didn’t buy right, you could be stuck with uncompleted house and fighting in court for years. There are only 20% of resolved court cases in major courts in Accra. Do I have your attention?
HOW MUCH MONEY DO YOU NEED TO BUILD A 4BEDROOM HOUSE IN GHANA?
Depending on the location, the type of amenities, building a comfortable middle class 3bedroom house with Western amenities and with a size range of 3000 to 4500 square feet will cost you somewhere between $85,000 and $120,000. It depends on what type of flooring, granite counter tops, built in appliances, pool, renewable energy, etc… The cost be far lower or even higher depending on how deep your pocket is.
WHAT ARE THE CHALLENGES YOU’RE BOUND TO FACE WHEN BUILDING YOUR HOUSE IN GHANA?
There are uncountable challenges. As I mentioned earlier, building your dream home in Ghana could be hell on earth. Here are some of the obstacles:
- theft on site
- land dispute
- time consuming
- overcharging for material,
- stolen goods,
- building permit
- architectural cost
- corruption on every level
- loose of money
- headaches and stress
If you don’t like to experience these potential challenges while building your dream home, or you are busy and can’t have divided attention or you are abroad and cant’ be traveling back and forth for supervision, it is better to buy a existing home. Depending on your preference there are plenty of listings on Villashark.com to search for your ideal home.
When considering building your home land is purchase is very crucial. If you get it wrong , your money will do down the drain. The only caveat is purchasing a plot of land without and future litigation which is costly and time consuming you will need to work with experience real estate agent who have track record of zero litigation sales, a lawyer and land agent to guide you through the process.
If you want a peace mind you may want to buy from a developer. They have done all the hard work and due diligence. Depending on your budget, average middle to lower upper class homes range from $85,000 to $800,000.
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Are you looking to buy your new dream home or investment property or want to make Ghana your next home? Buying a home from a developer saves you time and the hassle in building your home in Ghana. We have got you covered, you don’t have to go through the hassle of building your home. You don’t have to worry about land litigation. Your only job is to own it by reserving your home today.
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THE ADVANTAGES OF BUILDING VS BUYING YOUR HOUSE IN GHANA
Despite the challenges you will face if you decide to build your dream home, it also comes with several advantages the least of which include:
- modern amenities
- quality construction
- cost control
- future expansion
Now let me discuss each advantage one after another.
Building your own house allows you to fully customize it to your liking. You have the freedom to choose the architectural style, floor plan, materials, and finishes according to your preferences and needs. This level of customization ensures that your house reflects your unique taste and lifestyle.
Modern Amenities and Technology
If you choose to build your new house it allows you to incorporate the latest amenities and technologies. Smart homes technologies is trending now, you may want that in your home. You can install energy-efficient systems, smart home automation, and state-of-the-art security features, ensuring that your home is equipped with the latest advancements. This not only enhances your daily living experience but also increases the value of your property.
When you build a house from ground up to finish, you have control over the construction process and can ensure high-quality workmanship. You can hire reputable contractors, supervise the construction progress, and use durable materials. This attention to detail and quality control can lead to a well-built and long-lasting home, reducing the need for major repairs or renovations in the near future.
Another advantage is that it allows you to manage your budget more effectively especially if you rely on your paycheck like most Ghanaians do. While the initial cost of construction may seem high, you have the flexibility to choose where to allocate your funds. You can prioritize certain features and make adjustments as necessary to fit your budget. Additionally, new homes often require less maintenance and have lower utility costs, which can save you money in the long run.
And lastly, building your own house obviously gives you the opportunity to plan for future growth and expansion. You can design the house with potential additions or modifications in mind, such as adding extra rooms, expanding the living space, or creating outdoor areas. This flexibility allows your home to adapt to your changing needs and preferences over time, without the limitations of an already existing structure.
Both option offer its benefits but have to weigh which option best fit you’re your budget and taken into consideration the risk factor. If you are in the diaspora, buying a home is no brainer than building. Again it is up to you to decide. Was this helpful to you? Press share button below. Have a good one!
We have received several request from our platform visitors especially the diaspora looking for real estate services to handle their real estate needs. That is why we set up Villashark one-stop-shop diaspora services , serving all your real estate needs in Ghana. There are 60,000 court cases all related to real estate – land litigation. 40% of people attended court hearing and about 60% attended court hearing a 100 times. About 15000 cases are pending and only 20% cases are resolve. You don’t want to spend the rest of your life fighting in court to win your land back.
That said, click on our services plans and choose a plan that best fit you and will contact you within hours. We are picky on who we serve. If we feel we can’t help you, your money will be refunded to you.