Buying an Offplan Home in Ghana


Buying an off-plan home means investing in a property or buying a home in advance of its completion. Without a physical property to inspect, buyers base their decisions on drawings, projections and/ or simulations.

Offplan buying model works as: a purchaser puts down a reservation fee, and agrees to a payment term with which they would have completed the payment, and signs a contract with the seller/ developer who on the other hand promises to finish the property per the plans by a certain date, while offering regular updates on the progress of work, materials, etc., to when the keys are handed over to the purchaser with all obligations fulfilled.

Sound reasons why you should consider investing in or purchasing  your next home off-plan;

One of the main advantages of buying an off-plan home is that it allows you to buy a home at a price that could be below future market value. So in essence, you are buying it at a price lower than the price of a completed home.

Offplan properties also offer relatively more flexible payment terms than move-in ready homes and offer a better opportunity for buyers to customize their homes to suit their tastes.

Buying an off-plan often comes as daunting a process since most do not have the technical expertise or the ability to see beyond the illustrations easily. However, with the right preparation and guidance from a real estate agent, it can be a stroll at the park and even accommodate a dream building for the buyer.


Buying off-plan gets one professional help without paying a dime before any financial commitment. No matter how solid one’s research or industry knowledge is great and very important however buying off-plan gets you the help of a professional who will give you a fresh set of eyes and a professional point of view. In the Ghana real estate industry this can save you tens of thousands of cedis.


Again, this will help you get the right network of relevant stakeholders within the industry both at the private and public levels. Buying a property in Accra or anywhere else off-plan is not like buying a ready property that you can see and feel.

When buying an off-plan property you are essentially buying from a brochure, architectural illustration presentation and the advice of the developer or agent. It is for this reason imperative that the right research is done into who you are exactly buying from.

Ensure the developer has all the legal requirements and has a good track record. And with help of an agent and other related stakeholders, you get a better insight into projects with past and legitimacy records as such is usually a better indication of the future of your investment. And only a professional agent who knows exactly what you want can help secure your interest stress-free.


A key standout benefit of buying off-plan property is You Control a big part of the Budget. Taking a close look at your financial position and speak to your financial advisor as well as agent, upgrade or downgrade can always be negotiated to ensure that your budgeting is done correctly and you don’t bit off more than you can chew.


This will also ease or help with critical information with decisions to buy since at the off-plan stage, all the project tangibles and intangibles will be clearly communicated from the ground up. At an off-plan level, your decision is firmed up and properly align with the project, by extensive discussion and analysis by your agent and financial advisers.

Thus buying a future home to live in is very different to an investment property and the two will be easily and diligently evaluated to your benefit at an off-plan level.


We believe that for most people buying a property is the biggest purchase they will ever have to make. It’s therefore, a decision that can never be made lightly but rather a decision that should be made after sufficient research and thought. Now, buying off-plan again gets one ahead with regards to materials, wiring, piping, etc., which makes the buyer 100% sure of what went into the project to appreciate the value of work, so should it be for investment attract the right returns on investment and also for sentimental value assign it to a love one or trustee with confidence.


At an off-plan stage whether you are buying for investment or to live in, things to take into consideration are; proximity to sea/city or other points of interest, road access and public transport links, plans for the area/community, area reputation and demographic, etc. And there’s no better stage in the real estate industry to have a thorough grasp of this information than at the off-plan stage, this mostly offers a unique opportunity to buy into the future at a better bargain. Yes, we accept that it can be stressful and nerve-wracking but buying a property takes time when done right, off-plan property purchase under the right due diligence offers big rewards for years to come.


Another exciting option buying off-plan offers the purchaser is clearly stated obligations. At this stage, much room is available to go beyond numbers to establish clear obligations and navigate very well any pain points that come with acquisition etc. Buying off-plan readily allow a greater understanding of what contractual terms there are. Signing a purchase contract is serious business so before doing so you need to make sure you know exactly what it is you are signing. Thus you naturally seek professional advice from your lawyer and ensure you are fully aware of your obligations and that of the developer.


Finally, it is no secret that buying off-plan plays out often than not to give an exit or solid a contingency plan for the purchaser. As much as the budget is knitted to suit the project, things don’t always turn out as planned. Therefore one important benefit is making the purchaser well prepared in case circumstances change and need to liquidate. You always get a plan B even you may never use it buying off-plan.


Though buying off-plan properties looks obscure to most first time buyers and daunting for experienced property investors or repeating buyers, it does not come without risks such as delayed construction/ turnkey, among others. To manage some of these risks, you must find a trusted developer/ agent and check how well they have performed in the past.

Buying off-plan property is simple, especially with the great number of developments going on in Accra today. If the advantages of getting a discount and locking in a property at a good price in a rising market are compelling enough. We have a large range of apartments and houses available to purchase off-plan from trusted developers. Let Floorspace  Realty assist you.

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