Investment houses expert service

Investment houses expert service

A new generation of middle class income earners coupled with Cameroonians living abroad are now sensitized to a new option of purchasing a home outright as opposed to building. But the question is, are there any Cameroon houses for sale and are there investment houses expert service? Of course, there are! Like any market, homes are on the market daily, however, unless you are a neighbor, a confidant or a friend of a friend of someone privy to that information then chances you are unaware. The market and sales of homes in Cameroon is ‘Blind’ or ‘Silent’. Consumers are primarily unaware.
In Cameroon. New construction homes developed and managed by reputable land developers range from 19,000,000xaf to 35,000,000xaf. They usually consist of 3 or 4 rooms, 2 to 3 bathrooms, a living room, kitchen, storage area and parking. Lot size depends on many factors and can vary substantially. With substantial advertising and marketing, potential home owners are able to take advantage of these opportunities. To date these opportunities have surfaced in Douala and Yaounde only.
However, overall, homes for sale can be found in all the major urban areas. Douala, Yaounde, Buea, Bafoussam, Kumba, Limbe, Bamenda and even Ngoundere have seen an increase in the demand for homes to purchase. Why? Because of the extremely costly price of building supplies, it is more cost effective to purchase a home that needs some repairs than to have to build a new home from scratch. Opportunities arise to purchased homes with a huge lot that can be subdivided. Owners then divide the lot into two, living on one side of the parcel and building a miniature bed and breakfast on the other side. The possibilities are endless, but these opportunities are not without risk. The majority of homes in Cameroon do NOT have a title. Therefore, for you next potential purchase, no matter whom the transaction is with, relative or not, it is best to have all aspects of the sale and the transfer of title documented and notarized, and if one does not exist then you have to pay for one to be drawn up. (SECPE investments can assist and walk you through the steps of creating a Title, just ask us how at www.secpeinvestments.com).

Tips for buying houses in Cameroon

So is it worth it to buy a brick and mortar investment? There is no clear cut answer. There are some really good deals out there, if you can find them. Here are some of the steps I recommend
a) Who is the owner? The older the landlord, the higher the chances are that no maintenance has ever been performed on the property.
b) Is there a title? If no title exists, costs to develop an official title can range from 500,000xaf and above depending on the value of the home.
c) Do any plans exist for the home? No plans does not necessarily mean that the home was not sculpted and build by an architect and a professional contractor involved in its construction. However, it could be an indication. Numerous homes built were done via trial and error, walls curved, foundation non stable, plumbing whacked… In some cases you may purchase what seems to be a good deal, becoming a construction nightmare necessitating a full revamp.
d) Any history on the home for sale? Superstitious beliefs are a staple in developing nations and Cameroon is no different. Why is the home being sold? Are there neighbors willing to provide you some history? Is it important to you if anyone died on the property. What were/are the owners like? This is what I call ‘comfort’ information. It makes you comfortable with your purchase.
e) This is a hard one, get it inspected; This is expensive in Cameroon and professional rates vary. But having a home inspected is crucial to any transaction worldwide or at home. What are you buying into to? Its good to know.

f) Does the ‘Owner’ have the legitimate right to sell the property to you? This can be the cause of a lengthy battle if you do not do your due diligence. The laws of Cameroon lend themselves to the concept of ‘the son of the soil’. All heirs of the owner have the same and equal right on the property unless purposefully stated otherwise in a legal will. Most Cameroonians of that generation do not have a will. Hence, If Son “A”, a legal heir, wants to sell the home, but Daughter “B” declines to, the sale can not occur. All parties have to agree. And if one person sells and creates a title without the consent of the other(s), the slighted parties have recourse to take you the new owner to court. You could potentially lose everything you invested in the property. It isn’t worth it. Know the history and do your research.
g) Can you insure the home? Has the home ever been insured? If this is an investment, I would strongly recommend insuring the property. However it is not uncommon to find many home owners with houses that were never insured. Once the home was built, they moved in and never left 😊
h) If a home is for sale, do not handle the transaction without proper help. A professional real estate agent can help you navigate the problems and provide you with ample resources. SECPE investments is a reputable firm that can assist you in any real estate transaction you embark upon. Check out our website for current listings for homes to sell all over Cameroon.

SECPE is the number 1 authority for Real estate in Cameroon. We help our clients, one real estate transaction at a time.