The concept of generational wealth has become quite prominent in recent times as parents look to give a leg up to their children in an increasingly competitive world. Generational wealth encompasses assets, resources, investments, and networks that can be passed from one generation to the next. There are few things more gratifying than knowing that you have left a legacy for the people that will come after you, and this is why no matter what your other goals in life are, securing a generational asset is paramount.
In deciding what constitutes a generational investment, you need to take into consideration the specific social, economic, and political factors of a given jurisdiction. This analysis will allow you to identify investments that have weathered all sorts of storms and those that have been unreliable or have disappeared completely.
When it comes to Ghana, few will argue with the fact that real estate has been the most dependable investment over the years. Many investment schemes, governments, and business fads have come and gone, but the security of owning a home where you can rest, recuperate, raise your family, and create precious memories has never withered. In both good and bad economic times, real estate has proven to be the corner store of generational wealth creation by providing the following benefits.
Protection against inflation and currency depreciation. Property values have held up impressively well. Despite high rates of inflation and the cedi depreciating against major currencies, the value of property has risen to ensure that it continues to be a financial backbone that can be passed on to your children.
Source of flexible rental income. The flexibility that owning real estate will give you in terms of income generation is immense. For instance, you can choose to rent out your space for long periods such as 1-3 years in order to raise capital. Or you can give it out for short stays of a week or even just a night for some regular quick income. This feature gives you a level of flexibility that is rare in other investments.
Impeccable collateral for loans. Another way high quality real estate helps to build wealth is by serving as a collateral for loans that you take to carry out other profitable ventures.
Tax savings. A resident person in Ghana acquiring residential property through a mortgage facility is entitled to deduct the mortgage interest payments from their income before calculating the tax payable. Note that this can only be claimed for one residential property.
Bedrock of a diverse portfolio. No matter what other investments you have, you need to include real estate to ensure that you are truly diversified and protected from the unpredictability of the financial markets and business environment.
Despite all these benefits, you can still go wrong if you make poor choices in acquiring real estate. You may suffer from land litigation issues, poor build quality, lacklustre design, and a lack of access to facilities and amenities due to a poor choice of location. Acquiring real estate is too important a decision to gamble with your money.
CPL Group boasts two decades of experience in delivering premium-quality real estate to clients, proving to be a solid investment with rapid appreciation. The developments, such as Oasis Park Residences (Tetteh Quarshie) and Avenue Gardens (Airport Residential Area), have attained great success and are providing enviable rental income to owners. CPL Group’s new flagship development, Belmonte, promises luxury studios, 1-bedroom, 2-bedroom, and lavish custom apartments in the coveted East Legon neighbourhood. Seize this rare opportunity to own a truly generational asset that will be appreciated for generations to come.
and www.belmonte.cplestategh.com for more.