Thursday, October 31, 2024

What to do or check while purchasing a plot?

(Source: Pixabay)

It seems good, if you would purchase a shop in a mall or somewhere, rather than purchasing a plot, as it would start giving you rent immediately. Or a house to give you rent or a land, which is on “theka.”

Nevertheless, one of the buying strategies to purchase plots is to purchase several smaller plots rather than purchasing a large land. In this way, your investment will be diversified and risk would be reduced.

It is also important to consult at least three people, three experts.

Do not rush, take your time. For instance, if you would be in hurry, you may purchase a dipped land or a hill, and these are useless in terms of building houses.

Think and work on location. For instance, people may look for the future developments regarding the location, and may purchase a plot. For instance, in Jinnah avenue, Islamabad, one kanal can be sold at about 100 crores.

Reverse commission can be used in terms of purchasing plots. For instance, you may go to the commission agent, and say that I want to purchase a plot at lower prices, and the lower the price of the plot, the more commission I will give to you.

It is also important to check the maintenance charges of the plot. In some cases, maintenance charges can be more than the price. In this case, you may give some amount of your rent (from houses or shops) in maintenance charges.

It is also important to check whether gas, water, and electricity are available.

Also check that the plot is not land locked, which is related to the point that the land is locked and streets or ways in the surrounding are locking the land to reach inside. If there is road with the plot, its resale value increases.

Do research, before purchasing a plot. In this case, you may go to zameen.com or olx, or offices of property agents. You may also ask neighbours. Eventually, do not go with rumours.

Source:

How To Buy A Plot | 10 Tips to buy Property in Pakistan - Azad Chaiwala - https://www.youtube.com/watch?v=Jdg9u0H47lA


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