Things to consider before making a real estate investment
If you have lately been thinking about investing in real estate for your future or buying your dream home, then you probably have thought of some factors such as the price, type of property, and location.
While we primarily deal with properties in Islamabad and Rawalpindi, we have still compiled a list of things you need to consider before you decide to make a real estate investment.
The Finances
If you have saved up enough to buy the property in one go then this section may not be for you. However, if you have opted for bank financing or are looking at an investment with installment plans then you would need to know about the hidden charges and whether the installments would change with changes in rates during the period of payment.
If you are pursuing bank payment, then you need to think of the markup rates and whether the credit aligns with your long-term plans.
In short, just like any other investment, Investing in real estate is also a calculated decision that should be made carefully to avoid any loss or regrets in the future. A good idea is to ask your friends and family who have previously invested in real estate for advice, but talking to reliable property dealers who can walk you through the options you have for real estate investment can also be helpful.
The location
The location of where the property is located plays a significant part in its overall value.
This also makes sense because how close it is to landmarks such as airports, bus stands, malls, and shopping centers may have a great impact on the worth as well as the desirability of any property. A housing society with schools, medical facilities, security, restaurants, and leisure facilities such as parks and gyms nearby would obviously be worth more than housing societies that are in the developing stage.
However, buying a property in the early stages may prove to be a more worthy investment so this also depends on your priorities and the timeline you have set for yourself to use the investment.
Developer
The reputation and reliability of the developer building the project play an important role in the worth of the housing society. If their past projects have been developed on time and have been made livable/usable within a good time frame, then it is safer to rely on the developer. This factor of trust and reliability is why the projects built by famous real estate developers tend to be more in demand.
NOC
The NOC approvals are required from relevant authorities for the project to develop till its completion. In order to stay away from fraudulent societies or projects, make sure you invest only in those that are approved by RDA or CDA. If you want to avoid loss, only invest in societies that have received NOC so there are less likely to be delays in the development process and the property is handed over to the owners on time.
The Marketing
A well-marketed project is more likely to have a better reputation and better credibility in the market. A project can only be marketed once it has received NOC and so if you see an advertisement for a housing project, it will be trustworthy.
Resale Value
Even though land usually appraises in value and real estate investments mostly end up in profit, some schemes do better than others in terms of value over time.
Therefore, the resale value is extremely important when investing anywhere, especially in real estate.
If a project is being sold and purchased easily in the market, then it has high liquidity and therefore the resale value would be high. Projects that are popular and have a good reputation give a good return on investment.
If you are looking for a reliable property dealer in the Twin Cities, then Souqalard has 15 years of experience in the property market and will be able to guide you to make a sound investment that suits both your budget, vision, and goals. You can contact them by calling or sending a Whatsapp message at +92 346 111 333 2 or by emailing them at info@bhattiassociates.com.
