First Real Estate Property:
Your first real estate property is not only a necessity but an achievement, a dream come true! This is that first piece of land or fully constructed property that you buy with your hard earned money. Usually your first real estate property is bought for the sake of having a roof over your head. This doesn’t involve intention of investment for the sake of gaining profit out of it.
As this will be your first ever asset, you should be mindful of scammers and frauds as well as factors that will help you purchase the right property. There is a list of things that you should keep in mind before buying your first estate.
Things to keep in mind:
Basic things that you should look out for while investing in your first real estate unit are:
Location
Condition
Outlook
Owner’s Credibility
Location:
The most important factor that will determine the value of your asset in future is its location. If your property of interest is situated in an easily approachable place, then the value of your asset will automatically increase. However, if it’s placed in a far off location and you ever plan to sell it in future, you won’t be getting much profit.
Condition & Outlook:
Make sure that the residential or commercial unit you are buying is well maintained. The interior condition and the exterior of your asset have to be in good state. If the paint is worn out, wood work is damaged, sanitary is broken then obviously it will leave a bad impression. Try to purchase property that has been recently made as residing in or using such a like space would be more convenient.
Owner’s Credibility:
Last but not the least is owner’s credibility. Cross check that you are not being scammed. You can do so by asking about owner’s image and past dealings from the people living in his area or work place. Purchase your asset from an owner who’s well reputed and is selling an authentic asset.
If you are looking for an affordable property then you can invest in these societies which have gained an eminent position for delivering great facilities and features:
According to Lahore Smart City prices and Park View City Islamabad price list, you can easily purchase a 5-10 Marla plot as per your requirement by giving installments within 2.5 years. But before investing consult a professional real estate marketing company. Hope this article helped you. Good Luck with future investment!
Read More Blogs: Tips to Prevent Yourself from Land Scammers
Comments