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.
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.
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