OTUMFUOR COMPLEX ANNEX

The decision to buy or rent depends largely on your financial circumstances and how long you plan to stay. If you're staying for just a few years, renting may be better. However, home ownership can be an excellent investment that appreciates in value, helps build equity, and provides financial gains. If you can meet your financial obligations and are ready for property maintenance responsibilities, buying could be the best decision you'll ever make.

Absolutely. When buying a home, you need a professional to engage with developers and ask all the technical questions that many overlook or are unaware of. Choose a broker who understands the real estate market and will represent your best interests. A well-versed broker can help you get value from your purchase and avoid common pitfalls that first-time home buyers make.

In most cases, the seller pays the broker fees. Many buyers are uncomfortable with the thought of additional charges from broker fees. However, avoiding broker fees provides no real gain and could lead to future charges that could have been avoided if a certified professional had represented your interests before the purchase.

Yes, before closing the deal, you have the option to inspect the property. You can check for wiring, plumbing, or maintenance defects, or even conduct advance pre-construction inspections. Always take the opportunity to inspect the property before purchasing. Your broker will advise you on the necessary inspections relevant to your desired property.

For a mortgage, most lenders expect 20% to 40% for a down payment, depending on their requirements and the type and duration of the loan. As exciting as home ownership is, your first down payment could be discouraging if you're not adequately prepared. We advise that you prepare a budget, plan and save towards a down payment before approaching a realtor.

We know researching mortgages can be time-consuming and confusing. Since you're here, we recommend consulting our team for advice on the best rates and mortgages in Ghana. Our experienced representatives can guide you through the process and help you find the most suitable mortgage option for your needs.

We use your Debt-To-Income (DTI) ratio to determine affordability. You can afford a home if your total debt, including your mortgage, is up to 43% or less of your income before tax. For example, if your monthly income is GHS 8,000, then your total monthly debt, including your new house payment, shouldn't exceed GHS 3,440 per month.