The Pakistani real estate is one of the safest means to generate a constant income off your investments. But what goes into finding the perfect Investment Property that has minimum maintenance cost and provides you a guarantee to enjoy high yields in future? As the real estate consultants, we felt the need to share a word on this topic that can help you in finding an ideal commercial or residential investment property in Pakistan. So let’s discuss the features that you should be looking into your next investment property before making a final call.
Whether your plans are to purchase a commercial investment property or the idea is to acquire a residential unit, it is very important to select an ideal location. To determine the ideal location for your investment property, try understanding the needs of those that would rent the place. Suppose, if you aim at purchasing an apartment and later rent it out, you should select a place that is ideal from the family’s perspective. The schools, hospital, supermarkets and amusement parks should be near from the place. And in similar manner, the bus stop, cafeterias and workshops should be near to the location if you intend to purchase a commercial property.
You’re going to invest millions of rupees to purchase an ideal investment property, right? Well…before you make your final call and sing the documents, it is ideal to evaluate the maintenance costs of that property. Understand the architectures of the building and how often it would need maintenance later when you get the possession. Calculate the costs beforehand so you can spare the amount for maintenance while arranging for funds to acquire that investment property.
It’s a fact that economic condition play a vital role in making your investment property plan successful. See…you’d want to start making profits off your recently purchased investment property the day you get possession. What if you want to rent it out on about 25000/- per month but the economic condition of the state don’t allow the tenant to go beyond 15000/- per month? This scenario can perish your dreams to recover your investment with a swift pace. If you persist on that former number, you’ll see a decline in the tenant queries so you’ll have to keep the economic conditions in mind.
This one is connected with our first point…proximity, remember? What I’m trying to say here is that you should be very clear about purchasing an investment property in Pakistan. What if you purchase a commercial property in a residential area where the demand for such property is very low? In similar manner, if you go for residential plot in a commercial area then again you’ll face such issue. So be sure to select an investment property that falls in your investment plans and has high chances of tenancy.
Be careful when saying yes to an investment property as it can cost you more than you anticipate initially. I mean…you might find amazing features associated with a property that compels you to go beyond your set budget limit. If you can spend more money on property acquisition, try reconsidering your decision because that would not be a good decision. The amount that you’d spend on property acquisition can be used for managing legal expenses and the maintenance costs. So think practically and avoid making any emotional decisions when purchasing an investment property.
We’re always available to provide you more information about purchasing the best investment property in Pakistan on +92 42 37188542-3 +92305-62222-81-4. Feel free to speak with one of our property experts today!