BUYING OR RENTING HOUSES IN ACCRA, GHANA
This article compares buying or renting a house to renting an apartment.
This is to help you make an informed choice when looking for accommodation in Ghana.
The Benefits of Renting a House
A house is a single-family residence that gives you the privacy of being the only tenant or tenant family.
A house often also has the added benefit of having a garage or a yard /space to park your car.
The extra space may give you the flexibility of entertaining guests at your house,
the perfect solution for family socialization.
Another incentive to houses is that it is more convenient to keep pets like large dogs without
keeping them chained. The extra yard space gives your children a safe enclave to play.
You also have the opportunity of planting gardens to beautify the house, though trees
and plants stay as the property of the landlord.
The most typical benefit of buying a house is the more privacy that you will enjoy.
You will be free from inquisitive spying neighbours or bothersome ones; who may deride
you of your privacy. You would enjoy a lot more freedom in a home.
The Benefits of Renting an Apartment
Renting an apartment is much cost effective than renting or buying a house. You also do
not need to spend much on maintenance because it is already taken up by the management.
Most times apartment complexes also have playgrounds for children.
Apartments are usually owned by a property management firm as opposed to individual
home owners. Typically, homes are rented by individual landlords while apartments are
managed by a property management firm. The business minded professionals usually
stick to the tenancy laws and agreements for rent so it is easier than some home owners
and landlords who may not adhere to the tenancy agreement or change it at will.
Apartments also have on site plumbers, electricians, fitters and other handy workers to help
you with any problem you might encounter. Neighbours are also nearby so they can be
turned to easily in crisis situations.
When it comes to security, apartments appear to have the advantage. Most apartment buildings
have security guards and some of them have CCTV cameras making your abode more secure.
It is less probable that a potential thief would go unnoticed because there are many people
around to detect any fishy movements.
The Disadvantages of Buying or Renting a House
Buying or renting a house is almost always more expensive than an apartment. However, considering
the privacy and safety, it may be worth the price. As stated previously, houses tend to be rented out
individual home owners who may adhere to tenancy laws.
Since the house becomes your private property, you are also solely in charge of the maintenance.
This means additional costs to clean and keep the place in shape.
Another disadvantage with house rental is that your lease may not be renewed at the end of your
lease term. That is the stark possibility. Since there is no guarantee it makes buying or renting a
house a bit risky.
Owning a home also means you bear the full brunt of the utilities. The larger space may mean
higher utility bills, adding to the cost of maintaining the house.
The Disadvantages of Renting an Apartment
An apartment means you will have many neighbours; many people and different families will be
living all around you. This is not ideal if you are a quiet person or require some privacy. The increased
population also means there is a higher risk of pest or disease infestation when you have certain
neighbours who may not be as clean as you.
Another downside is that apartments are normally significantly smaller than houses. This means
that your space must be judiciously used to house your family and belongings comfortably.
You may not also have the flexibility to remodel the apartment to your taste especially when
the building is in colours or materials you do not like.
People are from different orientations and backgrounds so it might be tricky living in an apartment.
There would be a lot of characters to put up with and you may be surrounded by unfriendly people.
Usually if you mind your business and keep good neighbourliness, they’ll come to respect you or
leave you alone.
Most apartments do not allow pets so it can be a disadvantage to people who love to keep pets.
Also, finding parking close to your apartment can be an issue, you may get a slot at an uncomfortable
place. Some apartments have slots designated for residents but most do not.
Important Considerations for Either a House or Apartment
Whether you are going for a house or an apartment, ensure that you understand what is included and
what isn't included in the agreement, before you sign a lease. Knowing precisely what you can expect
from your landlord and what they expect of you is crucial before you sign.
Ask for details about utility management like water, power, cable television and building maintenance.
Also inquire about pets, children, roommates and even extended house guests before committing to
securing a place. It is essential to adequately understand if all these are allowed on the property
before you sign the lease.
With growing trends and families becoming more modern, preferences for housing may differ. The best
solution is to understand which fixture is best for your personal and family needs and then go for it
bearing in mind the drawbacks of each so you can plan adequately for them. No option is better than
the other necessarily, what matters is to make an informed choice dependent on what works best for
your situation and lifestyle.