Learn From Other People’s Expensive Lessons
We have seen it all in Ghana’s property market — from simple oversights that cost a few thousand cedis to catastrophic mistakes that cost people their entire life savings. Here are the ten most common mistakes and exactly how to avoid them.
1. Not Conducting a Land Search
Astonishingly, many buyers skip the Lands Commission search to save GHS 500-2,000. This is like saving on car insurance by not buying any — the moment something goes wrong, you lose everything. Always search. No exceptions.
2. Using the Seller’s Lawyer
The seller’s lawyer represents the seller’s interests, not yours. Always hire your own independent property lawyer. Yes, it costs more. No, it is not optional.
3. Paying the Full Amount Upfront
Never pay 100% before the transaction is complete. A standard approach: 10% deposit on agreement, 40% when documents are verified, and the final 50% on completion and handover of keys.
4. Buying Based on Photos or Videos Only
Especially relevant for diaspora buyers. Always physically inspect the property — or have a trusted, independent representative do it for you. Photos can be deceiving, doctored, or of an entirely different property.
5. Ignoring the Neighbourhood
A beautiful house in a terrible location is a bad investment. Visit the area at different times — morning commute, evening, weekends. Check for flooding during rains. Talk to potential neighbours. Is the area noisy? Is it safe? Are there amenities nearby?
6. Skipping the Structural Survey
Before buying an existing property, hire a structural engineer to inspect the building. Cracks in walls, roofing issues, plumbing problems, and electrical faults can cost hundreds of thousands of cedis to fix.
7. Not Budgeting for Additional Costs
The purchase price is just the beginning. Legal fees, stamp duty, registration, agency fees, furnishing, and moving costs can add 10-15% on top. Budget for it from the start.
8. Falling for Unrealistic Prices
If a property seems too cheap, it probably is. Below-market prices often signal ownership disputes, structural problems, planned government acquisition, or outright fraud. If the deal seems too good to be true, walk away.
9. Not Registering the Property
Buying and not registering is like buying a car and not transferring the ownership. Until your name is on the title at the Lands Commission, your ownership is not fully secured.
10. Making Emotional Decisions
Falling in love with a property is wonderful. Overpaying for it because of emotional attachment is not. Set a budget before you start looking and stick to it. The right property at the right price will come.
Get Expert Guidance
At Property Ghana, we have helped hundreds of buyers navigate the market successfully. Our team ensures you avoid every one of these mistakes. Contact us to start your property journey the right way.
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