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Where Should You Avoid Investing in Real Estate

Investing in Real Estate Can be very tricky. The problem with investing through dealers is that they are brilliant at what they do. They know how to convince you whether or not it is a good investment. Owing to their talent, many dud societies end up being completely sold out.

Additionally, some dealers can also make genuinely good societies complete frauds.

So here is your fool proof pack of pointers that will give you the complete checklist to tick off your list while making a new investment.

  1. Unapproved Housing Societies

No matter how much your dealer tell you the housing society is approved or in the process of approval, you DO NOT believe them. Simply go on the designated website or make a phone call to the office and ask about the approval. For any of the DHA projects in Lahore, you need to check on the DHA website or visit their office, while the other housing societies are approved by LDA. Make sure you do your homework on the approval.

Additionally, some housing societies only have a few approved sectors. So when you are making sure the housing society is approved, it is important that you make sure that not some but all the sectors are fully approved by the relevant authorities of the city.

  1. Undeveloped Places

Do not believe any pictures/videos. They are fine for a preliminary decision but not for the final purchase. You need to either visit yourself or send someone you truly trust. Here is what you need to look for:

  1. Road Network
  2. Plotting
  3. Houses Under Construction
  4. Water Tanks
  5. Sewerage Pipes
  6. Electricity Lines

 

  1. Accessibility

When you visit, make sure to check the accessibility. You need to look for the following:

  1. Accessibility and approach from all the main social and economic hubs of the city
  2. Approach of the main boulevard to the sector/area you are looking forward to access in

 

  1. Other built or structures that can cause nuisance in future

Make sure the area you are investing in is not too close to anything that will:

 

  1. Cause traffic blocks on the road you love on
  2. Make too much noise (Factory, concert area)
  3. Produce harmful fumes (If there is a drainage pipeline make sure it does not stink or is properly covered with greenery)
  4. Stink (leather factory, animal farming etc)

 

  1. The Rates

You need to carry out a detailed market survey where you check the prices of the same are the previous year or months. If the prices have stayed the same or declined, they are likely to either keep declining or staying steady.

Make sure you only invest in a plot that had steadily increasing rates over the past years/months.

 

  1. Trusting friends

Real Estate is not the right place to put your trust in your friends. Make sure to do your own homework even if a trustworthy source has recommended a particular investment. Once your own working is complete, you can chose to buy it through that source.  

 

 

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