My wife and I will be in Ghana between now and two years from now. (I've set myself a goal of arrival in Accra for two years from now, maximum). Is it more lucrative to purchase a home there, or to just rent? I've noticed through expats on this forum, Thank God, that Ghana requires anywhere from six months to two years up front if renting, so why not purchase? Example: Let's say I find a place to rent for $1,000.00 USD per month, and I am required to pay two years up front. Shouldn't that minimum of $24,000.00 be used to purchase instead of rent, and "wasting" your money?
Additionally, I've seen an ad on this site come up before for some new Accra homes starting at $80,000 USD, or $500.00 per month. If this is no exaggeration, does anyone have any idea if these new homes are in a decent area & fairly safe? Anyone know how large a down payment is normally required when purchasing? Is it really 50%?
Thank you all! God Bless!
Ironron (Ron)