Buying a plot for investment or future home construction is one of the biggest decisions that one takes in their lives. Acquiring a piece of land for the sake of building a home is a very crucial step. When buying a plot, it is important to consider that you plan on permanently residing in this place. Also, if you are buying a land lot for investment purposes you need to consider a number of things before making the final decision.
These are the 4 factors that you should consider before buying a plot:
The location – The location of the land plays an integral role when you want to purchase it. You should go for a plot that is located near to or within an urban settlement. A plot in a good location in an urban settlement is a secure and high yielding investment choice because of its proximity to civic amenities. Ideally, your plot should be located on a walking distance to markets, mosques, and parks. For commercial property, it is important to go for land that lies in the midst of commercial areas.
The Price – Before buying a plot, it is important to research the prices in the area. Prices of the area can be searched by the old school way of engaging real estate agents of the area as well as using online property portals such as Graana.com and Zameen.com. If you are looking to buy a piece of land for investment purposes, then it is important to try your best to get it below the market rate. Similarly, if you plan on the construction of a home or commercial building, then also you need to get the piece of land at a lower price.
Reputation of Real Estate Developer – When buying a plot for residential or commercial purposes, it is important for you to run some background checks on the real estate developer’s reputation. It is important that the real estate developer enjoys an untarnished reputation in the real estate sector and has ample hands-on experience in urban settlement development.
Real Estate Agency – When buying a plot it is important to go for a reputable real estate agency. For Instance, if you are looking to buy a plot in Capital Smart City, Lahore Smart City, Park View City Islamabad, or University Town in Islamabad then you should go for a real estate agent that is a platinum dealer and authorized dealer of these housing societies. Similarly, if you are planning to buy a plot in Bahria Town or DHA then you should opt for authorizes real estate dealers of those societies.
These are some of the tips that you should follow when buying a plot in Pakistan. There are a number of good Pakistani real estate agency who can guide you throughout the procedure of plot buying. Deal & Deals is a private full-scale real estate agency of Pakistan with multiple offices spread throughout Pakistan. Deal & Deals is one of the only platinum partners and authorized dealers of Park View City Islamabad, Capital Smart City Islamabad, Lahore Smart City, Whispering Pines Resorts, and University Town Islamabad.