Building vs Buying Property in Ghana: Why Building is Your Best Investment

The question that haunts every African in the diaspora planning their future home in Africa: Should I buy an existing property or build from scratch? While both options have their merits, let me tell you why building your own home is the smarter choice for most diasporans.

Let's address the elephant in the room - the trust issues that come with building. Yes, managing construction remotely can be challenging when dealing with contractors and artisans. Stories of project abandonment, poor workmanship, and misused funds are common. However, these challenges are not insurmountable. With proper management systems and technology-enabled oversight like what we offer at Dyallo, these risks can be effectively mitigated.

Now, let's talk about buying existing properties. While it might seem like a straightforward solution, it comes with its own set of significant challenges. First, let's discuss the financial aspect. Buying a house in Ghana requires a substantial upfront payment - we're talking hundreds of thousands of dollars. For most people in the diaspora, having such a large sum readily available is unrealistic. And here's where it gets trickier - securing a mortgage in Ghana while living abroad is almost impossible. The few banks that might consider your application often charge interest rates that would make your eyes water.

Some real estate developers offer payment plans, but these come with their own risks. What happens if you lose your job or face unexpected financial challenges? Missing payments could result in losing both your dream home and your investment, often with hefty penalties attached. That's a risk many can't afford to take.

When you choose to build, you have the flexibility to pace your project according to your financial capability. You can spread the cost over several years, making it more manageable for your budget. Need to pause construction for a few months? You can do that without the risk of losing your investment. This financial flexibility is a game-changer for many diasporans.

But let's talk about quality. Real estate developers, driven by profit margins, often cut corners during construction. They might use substandard materials, skip important structural elements, or rush through crucial stages of construction. These shortcuts might not be visible during property viewing but can lead to serious problems down the line - leaky roofs, poor drainage, electrical issues, or even structural problems. When you build your own home, you have control over the quality of materials and construction standards.

Moreover, building allows you to customize your home to your exact specifications. Want a bigger kitchen? Extra storage space? A particular style of architecture that reminds you of your time abroad? When you build, you can incorporate all these elements into your design. You're not stuck with someone else's vision of what a home should be.

This is where Dyallo comes in. We've developed a platform that addresses the main challenge of building remotely - trust and project management. Our digital construction management platform provides real-time updates, verified artisans, and milestone-based payments, ensuring your project progresses as planned. We've taken the anxiety out of remote construction management.

Think about it - would you rather take on a massive financial commitment upfront for a house that might have hidden problems, or build your dream home at your own pace, with complete control over quality and design, supported by modern technology and professional oversight?

The choice to build might seem daunting at first, but with the right support system, it's the smarter, more flexible, and ultimately more rewarding path to homeownership in Africa. Join us at Dyallo, and let's make your dream home a reality - on your terms and within your means.

Ready to start your journey? Registration is free, and we're here to guide you every step of the way.

The Dyallo Team
Empowering the African Diaspora to Build with Confidence