1. Define Your Style:
Before diving into decor choices, take some time to define your personal style. Are you drawn to traditional elegance, modern minimalism, or eclectic bohemian vibes? Clarifying your style preferences will guide your design decisions.

2. Choose the Right Furniture:
Selecting the right dining table and chairs is essential for both aesthetic appeal and comfort. Consider the size of your dining room, the number of people you typically entertain, and the overall style you’re aiming for. Opt for high-quality, durable pieces that will stand the test of time.

3. Set the Mood with Lighting:
Lighting can dramatically enhance the ambiance of your dining room. Install a statement chandelier or pendant light above the dining table to serve as a focal point. Supplement with wall sconces or table lamps to create layers of light and set the mood for different occasions.

4. Play with Color and Texture:
Infuse personality into your dining room with color and texture. Consider painting an accent wall in a bold hue or adding wallpaper for visual interest. Incorporate texture through textiles like curtains, rugs, and upholstered chairs to add depth and warmth to the space.

5. Accessorize Thoughtfully:
Thoughtfully curated accessories can elevate the look of your dining room. Showcase decorative items like artwork, mirrors, or a stylish bar cart to add character and charm. Don’t forget to incorporate practical elements like a stylish storage buffet or shelving for displaying dinnerware.

6. Create a Welcoming Atmosphere:
Enhance the dining experience by creating a welcoming atmosphere. Incorporate natural elements like fresh flowers or greenery to bring life into the room. Consider adding a cozy area rug under the dining table to anchor the space and provide warmth underfoot.

7. Consider Functionality:
While aesthetics are important, don’t forget about functionality. Ensure ample space around the dining table for comfortable seating and movement. Invest in durable, easy-to-clean materials for furniture and furnishings, especially if you have young children or frequently host gatherings.

8. Personalize with Finishing Touches:
Make your dining room feel like home by adding personal touches that reflect your interests and experiences. Display family photos, heirlooms, or travel souvenirs to infuse the space with warmth and nostalgia.

9. Experiment and Have Fun:
Decorating a dining room is a creative process, so don’t be afraid to experiment and have fun with it. Mix and match styles, colors, and patterns to create a unique look that speaks to you. Trust your instincts and let your personality shine through in your design choices.

Need expert advice on property rental or management? Don’t hesitate to reach out! Share your tips and experiences in the comments section. And make sure to follow us on all social media channels @Goldenadmiralproperties

Top 4 Neighborhoods in Ghana: Where to Invest in Real Estate for High Returns

Top 4 Neighborhoods in Ghana: Where to Invest in Real Estate for High Returns

Investing in real estate can be a rewarding venture, especially when targeting up-and-coming neighborhoods. These areas offer the potential for substantial returns due to rising demand, ongoing development, and growth prospects. In Ghana, several neighborhoods are attracting the attention of investors. In this blog post, we’ll explore the key features and investment potential of six promising neighborhoods: East Legon,Ridge, Airport Residential Area, and Cantonments.

1. Cantonments

Cantonments is a prestigious neighborhood known for its well-maintained streets and lush greenery. It offers proximity to embassies, international schools, and upscale shopping centers. The area has seen recent infrastructure developments, including road upgrades and new residential and commercial projects. Property values in Cantonments are higher due to its prime location and amenities. The neighborhood is popular among diplomats and expatriates, offering strong rental demand and stable returns for investors.

2. Airport Residential

The Airport Residential Area is an upscale neighborhood renowned for its luxury homes, well-planned layout, and proximity to Kotoka International Airport. Ongoing projects such as road expansions and new commercial spaces are boosting the neighborhood’s desirability. Property values are on the higher end, reflecting the area’s status as one of Accra’s most prestigious neighborhoods. High demand for rental properties ensures steady income for investors.

3. East Legon

East Legon is a sought-after neighborhood known for its upscale lifestyle and close proximity to major amenities such as schools, healthcare facilities, shopping centers, and restaurants. The area benefits from ongoing infrastructure projects, including road improvements and the construction of new residential and commercial spaces. Property prices in East Legon have been on the rise due to its popularity and strategic location. Rental yields remain strong, making it an attractive option for investors seeking steady income and long-term appreciation.

4. Osu

Osu is a vibrant neighborhood famous for its lively atmosphere, nightlife, and entertainment options. It boasts a mix of modern and traditional elements, making it a trendy place to live and invest in. Osu has seen improvements in road connectivity and the establishment of new businesses. These developments are contributing to the area’s growth and appeal. Rental demand in Osu is high, particularly among young professionals and expatriates. Investors can expect a good return on investment from both rental income and potential property value appreciation.

For personalized advice and guidance, Golden Admiral Properties is here to help you find the best opportunities. Contact us on all Social Media platforms @GoldenAdmiralProperties or call us on +233555143485 / +233204793545

Maximizing Your Investment: 5 Key Questions to Ask When Interviewing Property Managers

Maximizing Your Investment: 5 Key Questions to Ask When Interviewing Property Managers

Selecting the right property manager is crucial for maximizing the return on your investment. A competent property manager not only takes care of the day-to-day operations but also helps enhance the property’s value and ensure a steady income stream. To make an informed decision, property owners need to ask the right questions during the interview process. Here are five essential questions to consider:

1. What Experience Do You Have in Property Management?

Understanding a property manager’s experience is fundamental. Ask about their years in the business, the types of properties they manage, and their familiarity with the local market. Experienced managers bring a wealth of knowledge and a proven track record of handling various property types and market conditions.

2. How Do You Screen Tenants?

Tenant screening is crucial for maintaining occupancy and ensuring that rent is paid on time. Ask about their tenant screening process, including credit checks, rental history, employment verification, and reference checks. A thorough screening process helps find quality tenants, reduces turnover rates, and minimizes potential issues.

3. What is Your Approach to Maintenance?

Proactive maintenance can prevent costly repairs and ensure tenant satisfaction. Ask how they handle maintenance requests, their response time, and whether they have an in-house maintenance team or rely on contractors. A proactive approach to routine maintenance significantly reduces costly problems and keeps tenants happy.

4. How Do You Communicate with Property Owners?

Effective communication is vital for a smooth property management experience. Ask about their preferred methods of communication and how often they update property owners about their investment. Look for managers who provide easy access to real-time accounting records, maintenance issues, and monthly cash flow statements to ensure you are always informed.

5. What are Your Fees?

Understanding the fee structure is essential to gauge the overall cost of management services. Ask for a detailed breakdown of their fees, including management fees, leasing fees, and any additional charges. Ensure there are no hidden costs and that the fees align with the services provided. Quality service at reasonable prices can significantly enhance your cash flow.

By asking these key questions, property owners can gain a comprehensive understanding of a property manager’s capabilities and choose one that aligns with their investment goals. Selecting the right property manager is an important decision that can have a lasting impact on your investment’s success. At Golden Admiral Management Services, we pride ourselves on our extensive experience, comprehensive services, and commitment to enhancing your investment’s value. Contact us today on 0555143485 / 0204793545 to learn more about how we can help you achieve worry-free property ownership.

Navigating the home selling process successfully in Ghana

Navigating the home selling process successfully in Ghana

Selling a property can be a complex and challenging process, especially in a dynamic market like Ghana. To ensure a smooth and successful sale, it’s essential to approach the home selling process with careful planning and strategic execution. Here are some crucial steps to consider when selling your home in Ghana.

1. Property Valuation: The first step in selling your home is to get a professional valuation. This will provide an accurate assessment of your property’s market worth, enabling you to set a realistic and competitive asking price. A professional valuation is crucial for attracting potential buyers and maximizing your property’s value.

2. Find a Reliable Real Estate Agent: Partnering with a reputable and experienced real estate agent is vital for a successful home sale. Look for an agent with a proven track record in the Ghanaian market who can effectively list and market your property. A reliable agent will have the expertise to showcase your property to the right audience and negotiate on your behalf.

3. Prepare Your Property: Before listing your property, it’s important to ensure that it is in good condition. Make any necessary repairs and consider staging your home to make it more attractive to potential buyers. First impressions matter, and presenting a well-maintained and visually appealing property can significantly impact its marketability.

4. Marketing Your Property: To reach a wide audience of potential buyers, utilize a combination of new media and traditional marketing methods. Engage in professional photography, create compelling property descriptions, and leverage digital marketing strategies to showcase your home effectively. A comprehensive marketing approach will increase visibility and generate interest in your property.

5. Negotiation and Closing: When you receive offers from potential buyers, be prepared to negotiate on price and terms. Work closely with your real estate agent to assess offers and navigate the negotiation process. Once you have identified a suitable offer, collaborate with your agent to finalize the sale and prepare for the closing process.

6. Legal Process: Engage a qualified lawyer to handle the legal aspects of the sale. Your lawyer will be responsible for drafting the sales agreement, ensuring that all legal requirements are met, and facilitating a smooth transfer of ownership. Legal guidance is essential to protect your interests and ensure a seamless transaction.

Let Golden Admiral Properties be your trusted guide through the market intricacies. Reach out to us on all Social Media platforms @GoldenAdmiralProperties or give us a call at +233555143485 / +233204793545 for expert advice and support in maximizing your property’s value. Let’s make your home selling journey a smooth and successful one together.

Maximize Your Property’s Potential: Elevate Your Investments with Golden Admiral Properties

Maximize Your Property’s Potential: Elevate Your Investments with Golden Admiral Properties

Are you a property owner seeking a reliable partner to manage your valuable investments? The world of property management can be complex and demanding, requiring a dedicated team with expertise and integrity to ensure your properties are well-maintained and profitable. This is where Golden Admiral Properties shines as a premier property management company, offering a comprehensive range of services tailored to meet your unique needs and exceed your expectations.

At Golden Admiral Properties, we pride ourselves on our unwavering commitment to integrity, attention to detail, and successful management of premier properties. With years of industry experience, our team has a proven track record of delivering exceptional results for our clients. Whether you own a single-family home, a multi-unit building, or a commercial property, we have the expertise and resources to maximize the value of your investments.

At Golden Admiral Properties, we understand the importance of proactive maintenance in preserving property value and tenant satisfaction. By addressing maintenance issues promptly and efficiently, we prevent small problems from escalating into costly repairs, saving you time and money in the long run. Our proactive approach ensures that your properties remain in top condition, attracting and retaining quality tenants.

In addition to our core services, Golden Admiral Properties offers an online platform for easy communication and access to important documents. Our monthly cash flow statements provide you with a clear overview of your financial performance, allowing you to make informed decisions about your investments. We also provide legal disclosures to ensure compliance with regulations and protect your interests as a property owner.

Golden Admiral Properties stands out as a top choice for property owners seeking a trustworthy and efficient management partner. Our proven track record, commitment to excellence, and personalized approach set us apart from the competition.

Choosing Golden Admiral Properties as your property management partner means unlocking a wealth of benefits that will enhance the value and performance of your real estate investments. From full-service management to proactive maintenance and tenant screening, our dedicated team is here to support you every step of the way.

Needs expert advice? Don’t hesitate to reach out! Share your tips and experiences in the comments section. Connect with us on all social media channels @Goldenadmiralproperties.

Is affordable housing really affordable? — Study of Ghana’s situation by Deloitte

Is affordable housing really affordable? — Study of Ghana’s situation by Deloitte

In Ghana, the housing deficit is significant. According to the Ghana Statistical Service (GSS), it stood at 2 million units in 2022.
This suggests a need for 200,000 units annually over the next ten years, assuming steady population growth and constant supply at prevailing rates.

Home pricing
Increasing permanent income, graduate education, and a growing expatriate population are some major factors affecting the demand for houses in Ghana.

Expatriates inject cash into the economy, increasing the need for modern housing, especially in prime locations and countryside destinations, potentially, pricing out locals.

Ghanaians, prior to recent global and national economic challenges, had been enjoying increased financial stability and rising income levels with a general rise in the middle-income class, leading to aspirations for better living spaces and improved living standards.

Changing family preferences for smaller sizes deepen also the demand for houses. This rise in demand is transforming the landscape of Ghana’s housing market.

While the pricing of homes varies significantly with factors such as location, size, style, and amenities, typical homes in the country are priced between GH¢200,000 (US$ 16,703) and GH¢ 800,000 (US$ 66,811) for a standard two-bedroom home.

The median price of a 2-bedroom house in Greater Accra and Ashanti Region as of January 2024 stood at GH¢ 1,034,482 (US$ 86,394) and GH¢ 230,000 (US$ 19,208) respectively.

Homes in the Greater Accra Region are relatively more expensive than those in the Ashanti Region. The trend is common for other regions as well with even less expensive homes further away from regional capitals.

The pricing of homes generally is influenced by demand, additional costs linked to features such as quality of material used, finishing, extra architectural features and miscellaneous development costs contributing to price escalations and explain the variation in pricing across regions in Ghana.

Financing home acquisition
Mortgage finance is one typical option for home purchases globally. Mortgages allow for flexible expending on home purchases, spreading payment over a period of ten (10) to twenty-five (25) years.

Mortgage interest rates in Ghana range between 20% and 27% on cedi facilities, depending on the lender, the borrower’s source of income, and the loan tenure.

In Ghana, the mortgage to GDP ratio of 1% indicates low levels of patronage compared to South Africa, Namibia and Cabo Verde, which have mortgage to GDP ratios between 3% to 10% of GDP.

While qualification for mortgage facilities remains a major barrier, the perception of the masses on debt also acts as an inhibiting factor for patronage of mortgages.

Majority of home purchase transactions are funded by equity typically through self-development over an extended period or savings in hard currency.

Other home purchase options include the rent-to-own programme: a structure for civil servants in Ghana which allows buyers to make monthly payments towards the purchase of a home while living in it for a set period and offered an option to buy at the balance of the outstanding value.

The affordable homes campaign
Affordability is pricing that caters for the masses. As of 2023 in Ghana, there were about nine (9) Affordable Housing Projects (AHP) at various stages of completion including; The Asokore Mampong Affordable Housing Project (Completed) the Borteyman Affordable Housing Project (Completed), the Community 26 Kpone Affordable Housing Project (In-progress), the Saglemi Affordable Housing Project (In-progress), the Amasaman Affordable Housing Project (In-progress), the Shai Hills Affordable Housing Project (In-progress), the Gbetsile Affordable Housing Project (In-progress) and the most recent 8,000 Unit Pokuase Affordable Housing Project.

Other private developments seeking to enter AHP space include the Appolonia Bijou Homes Project and Adom City Phases.

The AHPs projects above listed are priced between GH¢ 159,768.40 (US$ 13,343) for studio units and GH¢ 492,619.23 (US$ 41,141) for 3-bedroom homes.

Analysis of affordability thresholds
According to the GSS, over 80% of public sector workers earn less than GH¢3,000 (US$ 251) per month as of February 2023.
Extrapolating this statistic for the average income of Ghanaians, we will for the purpose of this analysis, peg average earnings from all sources at GH¢ 3,000 (US$ 251).

Affordability of housing is best considered on a household basis, using the average household size of 3.6.

According to the United Nations, a household is a small group of persons who share the same living accommodation, pool some or all of their income and wealth, and consume certain types of goods and services collectively, mainly housing and food.

Thus, assuming a minimum household of two (husband and wife) in the working class, the average annual household income using the same base individual income of GH¢3,000 (US$ 251) is estimated at GH¢72,000.00 (US$ 6,013) per annum.

For this analysis, we employ the popular 50/30/20 rule indicating that 50% of household income is spent on essential expenses such as rent, utilities, and groceries, 30% caters for non-essential purchases and wants, and 20% put into a savings account.
Referencing this general rule of thumb, using GH¢72,000 (US$ 6,013) as the average annual household income, it may be implied that the average household can save at most GH¢ 1,200 (US$ 100) monthly and GH¢14,400 (1,203) annually towards acquiring a home, assuming all savings are channeled toward home purchase.

As an analytical safety net of prudence favoring affordability, we assume a further 30% scale-up of annual savings/ disposable incomes per annum for home purchase to GH¢ 18,720 (US$ 1,563).

Thus, keeping inflation and other price and wage adjustments constant, the total save-up period to purchase a standard 2-bedroom valued at GHS 500,000 (US$ 41,757) is estimated at approximately 27 years through the equity purchase route.

Generally, most lenders prefer a borrower’s mortgage payment be less than or equal to 40% of their gross income.

Further to the previous example of a standard 2-bedroom valued at GH¢500,000 (US$ 41,757), a cedi mortgage facility with a tenure of 20 years assuming an average interest rate of 21.5% implies a monthly repayment of GH¢9,086 (US$ 759) per month.

Compared to the maximum debt burden of GH¢3,120 (US$ 261), the average household falls short of repayment obligations by 65.7%, rendering them unqualified for mortgage facilities, or overstretched by allocating substantial portions of income towards debt obligations.

For a house to qualify as affordable for the category of citizens, with an annual income of GH¢72,000 (US$ 6,013), given a mortgage tenure of 20 years for cedi-denominated mortgages at an average interest rate of 21.5% the price of the house should fall within the bracket of GH¢ 120,180 (US$ 10,037) and GH¢171,685 (US$ 14,338). This would be the definition of affordable housing in Ghana.

Way Forward
In light of the concerns raised, questioning the true affordability of affordable housing is important. While
commercial institutions in Ghana may not find long-term project investments appealing, the government
could consider perpetual mortgages. This would enable extended repayment periods which, coupled with
favorable interest rates, reduce financial burdens, making home purchases more feasible. Another option
could be exploring affordable renting, providing stable rental prices to investors indefinitely.

Source: Yaw Appiah Lartey, George Anang & Emmanuel Opoku-Bona

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