Owning a home in Ghana is a dream for many in the diaspora. It offers not just a personal connection to the continent but also a solid investment for the future.
Following the Year of Return campaign in 2019, Ghana has become a prime destination for investors and settlers. Just last week, 524 people gained Ghanaian citizenship. Many of them Black Americans citizens, resident in Ghana for a while, others are linked to the country through DNA.
While the Year of the Return Movement has been going on for five years, Trump’s re-election will encourage even more to go abroad. Some like Philadelphia Inquirer columnist Jenice Armstrong say the “peace and contentment that eluded them in the United States” is possible elsewhere. And Ghana is calling with opportunities and a pathway to citizenship and homeownership.
Homeownership in Ghana is rewarding, but the process can be challenging without proper information and guidance.
That is why Jobomax Homes, a trusted leader in building homes for the diaspora on the African continent is making that process easier. Through webinars with industry experts prospective buyers gain insights on property ownership in Ghana, Sierra Leone, and Guinea.
This article highlights key takeaways from the recent African Diaspora Ghana homebuyer webinar. It outlines essential steps for diaspora buyers looking to own property or settle in the Black Star of Africa.
Key Ghana Homebuyer Insights for the African Diaspora
1. Understand Your Financing Options
One of the main obstacles with building a home in Ghana as a diasporan is navigating the financing process. Many people are not aware of the complexities involved in getting mortgages in Ghana to finance a home. Keith Williams Jr, CFO at the Greenwich Hazelton Group explained during the webinar that Ghana’s mortgage penetration rate is nearly non-existent. This makes it hard for diasporans to access home financing in the country.
“What you have is a situation where people have to bring all the cash. Or they have to go through some short term financing arrangement of say 70% downpayment or more and then finance the rest over the year and that is impossible for 99% of Americans,” he said.
Williams Jr. emphasised the importance of working with building companies that understand Ghana’s financial constraints in real estate. Jobomax Homes provides a tailored solution for diasporans seeking property in Ghana.
At their community in Appolonia City, Accra, buyers can pay a 30% downpayment and finance the rest over 10 years. This eliminates the struggle of having to pay everything upfront, which is a common demand by most developers in Ghana.
Additionally, it helps buyers avoid the high interest rates associated with the local financing systems.
The Ghana Philadelphia Jobomax Homes model at Appolonia City
2. You Need to Work With a Trustworthy Developer
Trust is crucial when building a home in Ghana from abroad. Many diasporans worry about not receiving their promised results after investing funds in their properties.
Robert Hornsby, the CEO of Jobomax Homes, explained that some developers in the Ghanaian real estate market promise to build homes based on advanced payments. However, they fail to complete their projects.
These failures often stem from poor management, causing developers to run out of funds despite their good business models. This has heightened anxiety among diasporans towards developers in Ghana.
According to the Co-Founder of Jobomax Homes Jonathan Halloran, “Jobomax Homes builds homes but what we really sell is trust!”
Researching who to work with is essential when building a home in Ghana. Jobomax Homes has a proven track record of transparent communication with clients. They keep clients informed about the financing, land details, and the construction progress.
Kalil Kargbo, a Jobomax Homes client, shared how he received daily picture updates of his property’s progress, keeping him fully informed. Jobomax Homes prioritizes earning client trust through transparency, reducing anxiety and ensuring that clients feel confident about their investment.
The dining and living room area of a Jobomax Home in Appolonia City
3. Know Your Way Around Land Titles & Ownership
Land disputes and title issues pose significant challenges for property buyers in Ghana. Unclear titles and ongoing disputes create uncertainty, especially for those purchasing land from abroad.
Williams Jr. noted that his 2019 research revealed Ghana had over 30,000 active land disputes, as reported in the country’s Financial Report.
“That is something to be careful about and that’s what pushed me to buy a place up from a very reputable construction company,” Williams Jr. said.
Working with experienced development companies simplifies navigating Ghana’s complex real estate system, especially concerning land disputes.
Jobomax Homes collaborates with reputable partners like Appolonia City, known for its clear and reputable land titles. This guarantees your investment’s security,eliminating legal challenges that could delay or disrupt your building process.
4. Location and Amenities Matter Long-Term
Many Black Americans are excited about living in Ghana. Jenice Armstrong highlighted why many pursue Ghanaian citizenship despite challenges like bad roads and power outages. They see it as fair trade for freedom and escaping racism.
Many are open to owning properties, particularly in Accra. However, choosing in a well-connected area with essential amenities ensures comfort and long-term value.
While many parts of Accra and beyond are developing, some areas still lack some critical infrastructure. Therefore it is important to research on locations with established amenities to make informed decisions.
Partnering with developers like Jobomax Homes simplifies this process.
Jobomax Homes’ projects are situated in Appolonia City, one of West Africa’s largest planned urban developments. It is owned by “Rendeavour”, a renowned real estate leader across Africa.
Appolonia City offers all clean water, reliable power, well-constructed roads and schools as well as other essentials. These features ensure that homes in the area remain self-sufficient and steadily grow in value over time.
Building a home in Ghana from abroad can seem overwhelming, but with the right information, it is achievable. Partnering with Jobomax Homes makes the process smoother and more transparent, helping you own your dream home.
