
Description
Property investment is considered one of the best secondary income sources in Pakistan. Numerous property options with flexible payment plans are available these days that give you an over the edge investment perks in Pakistan. But what things you must know before buying a plot on installments in Pakistan?
There are certain tips to consider before buying a property in installments. So, if you are looking to buy on an installment basis and don’t know how to go about the process, we’re here to assist. In this blog, we are sharing some useful tips for buying a property on an installment basis in Pakistan. Let’s get started.
BEST TIPS FOR BUYING PROPERTY ON EASY INSTALMENT PLANS
If you’re interested in purchasing a property on an installment basis, here are certain tips you must consider
- Do an in-depth research
- Choose suitable location
- Check for legal documents
- Check out the balloting, possession, and development updates
- Get a price check with other societies
- KEEP A RECORD OF EVERY TRANSACTION
Do an in-depth research
Doing in-depth research is the very first step to investing in property in Pakistan on an installment basis. You need to start your research by visiting the housing projects offering plots on easy installment plans. Check out the property rates, society’s features, nearby market, and society connectivity with major roads.
Check out Dream Housing Society, located on main raiwind road (booking with 200,000/-)
Keeping yourself well aware of society will make you safe from unexpected scams that are common in the real estate sector. Moreover, it will keep you aware of society’s development work, balloting, and possession updates.
CHOOSE A SUITABLE LOCATION
Location matters a lot! It’s a crucial step in the process of buying property on an installment plan in Pakistan. Your desired property may not be as you dreamed of but the location is something that cannot be overlooked. Therefore, make sure to double-check the property you are buying on the installments plan is strategically located and connected with all the major routes and nearby markets.
Irrespective of the affordability of the payment plan of a property project, you must not go for investing in it if the location doesn’t suit you. Location and its surroundings impact your living and overall property value. That’s why it’s one of the key factors to consider when buying a plot on installment in Pakistan.
VERIFICATION OF THE PROJECT
Investing in property can bring peace and a sense of security, but this is only possible when the relevant information about the property is verified. Property verification needs due diligence. It’s important to verify the essential documents of the housing project that offers plots on installments in Pakistan. Before investing in your dream property, verify the documents to avoid getting into any legal tangle in the future.
Getting an early understanding of legal documents for buying a plot in installments can help you out in the long run. It will help you avoid confusion and keep the process as hassle-free as possible while you are visiting the location, negotiations, and closing.
We have written an article on the LDA checklist for buying a property in Lahore for safe and secure property investment in the City of the Gardens. This article covers the major prospects of how you can be on the safe side by following the possible considerations.
Check out the balloting, possession, and development updates
We all know that land development is essential for a community’s success. Whether the development is residential or commercial, construction and stable development work means you’ll get the said property on time. Keep yourself updated with updates regarding the project you have invested in. As per the market practice, balloting for major real state projects is held after every few months in form of events and offers by the investors.
These events happen when society gives privileges to the special waivers and offers. To get the real-time perks, you need to keep yourself updated with balloting and possession of the real estate project you invest in.
Get a price check with other societies
There is a huge number of projects currently offering plots in installments in Lahore. On average, almost 200 + projects are currently running in Lahore. With such huge scope of investment, you can easily meet the budget-friendly project that offers plots on an easy installment plan.
In this way, you can opt for other societies if the desired project is not meeting your requirements, in terms of location, amenities, payment plan, etc.
KEEP A RECORD OF EVERY TRANSACTION
If you are directly getting into the deal or having an agent on your side that deals on your behalf, always keep a record of all the transactions to avoid any hassle in the future. Try to get in touch with the developers of society that offer plots in installments. Visit the office to collect the necessary documents for your property. Keep the record/ copy of every receipt of payment you make.
These were some of the useful tips you must know before buying a plot on installments in Pakistan. Keeping yourself updated with real estate trends might save you from any mishappenings. For any further queries in this regard, feel free to ask us at info@etihadmarketing.com
For the best deals on fully spacious commercial properties, houses, plots, files, farmhouses, commercial plazas buildings, and rental properties in DHA (Defense Housing Authority), Call Etihad Marketing, Book a Site Tour with Us, and Let us be your helping hand in buying the rest.