Buying A Home For Profit In Ghana

Go beyond buying a home. Buy a home for profit!

“90% of all millionaires become so through owning real estate.” His empire was worth 300 billion in 2007.” Andrew Carnegie

Currently, real estate is among the top 10 creators of billionaires. Do you want to turn your home in Ghana into a profit-making machine? Below are a few helpful tips and tricks:

A) Rent out your property. You can rent out a room or rooms, or convert the boys quarters into a guest house. You can rent it out long term (over a period of 6 months or more) or you can choose the nightly or weekly rent options (which is more lucrative). If you have several rooms available and want to maximize your rental income, turning your home into a Bed and Breakfast is definitely a good step in the right direction.

B) Allow film agencies to use your home for their studio set.
Pro tip: Charging hourly for the use of your home poses as a very profitable tactic indeed.

C) Use your garage as a storage unit.
Here, you can partition the space accordingly and charge users a monthly fee hereafter.

D) Sell parking spaces.
If you have vast land particularly in a busy area or by the roadside, selling parking space is not only a brilliant idea, it is highly lucrative as well.

E) Appreciation
Consider buying your home in an emerging area like East Legon Hills, Tse Addo, and Oyarifa. Over a period of time, your home will appreciate in value and you can sell it or take out a home equity release and use that as seed capital for your business.

F) Flipping
Here, you can buy your home at a discounted price during off plan sales. When the home is completed the appreciation value would have increased, and you can sell the home to make a profit

About The Author

Hanna Atiase

Hanna Atiase

Real Estate Broker to the Diaspora
CEO, E.Wells Realty & Consultancy

Share this post

Facebook
Twitter
LinkedIn

You may also like

WhatsApp-Image-2022-10-25-at-16.21
Finally! A Solution To Identifying Professional Real Estate Brokers In Ghana
One of the things I realized when I relocated to Ghana is that the real estate sector here is not regulated....
Read More
WhatsApp-Image-2022-10-24-at-10.01
Finding A Professional Real Estate Broker In Ghana ~ 2022
Finding a real estate broker in Ghana can pose as a great challenge, and not just any real estate broker...
Read More
WhatsApp-Image-2022-10-22-at-08.39
Home Ownership: A Pathway To Generational Wealth
A lot of times, we see buying homes as a place of accommodation, a place of rest and yes, it is all those...
Read More
MG_9317
Community Empowerment Through Home Ownership
E. Wells Realty & Consultancy, founded in March 2014, is a marketing and consultancy firm committed...
Read More

Compare listings

Compare