DHA Plot Buying Tips for First Time Buyers

DHA properties are one of the most attractive real estate markets in Pakistan. People have been flocking there for years. There are many reasons to want property there.. DHA properties are now safer than they used to be with more patrols and better law enforcement. New developments are constantly attracting all kinds of people due to the high return on investments. The other attraction to these properties is the immense amenities they come with. You can get everything from a luxury home to a golf course in your back yard. Even shopping centers are turning into high end investments.

Before you go and purchase a plot in DHA there are a few areas to be concerned with. First time buyers should consider these tips very carefully. As with buying another property or home, there is much to be reviewed and researched first.

Tip #1 Consider the whole reason behind buying a plot.

What will you be using the plot for after you purchase it? You need to decide if it will be used as a spot for a future home for you and family. Or will you possibly build a home and resell it for profit? The same goes for commercial properties. Will you build a commercial or retail property and then sell it off? The other option is to build a commercial structure and then rent out space thereby recouping your expenses and making money off of it. So you really need to decide what the purpose will be. Then you can decide how big of a plot you will need.

What will you be using the plot for after you purchase it? You need to decide if it will be used as a spot for a future home for you and family. Or will you possibly build a home and resell it for profit? The same goes for commercial properties. Will you build a commercial or retail property and then sell it off? The other option is to build a commercial structure and then rent out space thereby recouping your expenses and making money off of it. So you really need to decide what the purpose will be. Then you can decide how big of a plot you will need.

Tip #2 Choose a wise location.

When it comes to buying plots or any other property the location of it is very important. The location can often dictate how much it will be worth. You must check out various locations before you buying. A plot in one location may be worth more than a larger plot somewhere else. So look around for the best investment. Also make sure the location you choose is in a decent area. You don’t want to get stuck with property in bad neighborhoods.

Tip #3 Plot Costs

A major deciding factor of what plot you will buy will depend on how much money you have to spend for one. So if you have a few million available to spend, then this will increase your options greatly. The more you can afford the better off you will be. Look for the best sector that is the best investment in the long run.

Tip #4 Purchase near local facilities

If you will be buying a home, be sure it is close to the necessary facilities. If you have family you will most certainly want to be near schooling of sorts. Having shopping centers and transportation close by are also big pluses. Even being close to medical centers can be important as well. Once you decide to sell your home, it will be worth much more when you have these types of facilities in nearby areas. If your plot will be for commercial gain, you should have it close to transportation and major highways for easier access.

Tip #5 Plot type

One thing you need to know are plot types. Plots can be very different in nature for their overall purposes. A residential plot will be located near several home clusters. Areas better suited for commercial businesses will be located near roads and away from the residential areas. So you need to be aware of what you will be near.

Tip #6 What will be your source of financing?

When you decide to purchase a plot you need to be able to pay for it. Some people have the advantage of being able to pay it all at once. While others may need some financial assistance for their purchase. So your next step is determining where your funding will come from. If you need a loan there are some options available. You can get loans from bank institutions or even from family if they are so inclined. A lot of people don’t need loans as they are set with a substantial savings account. In that case no loans will be needed.

Tip #7 Buy plots at the right time

Before you purchase a plot make sure the timing is right. It is better to buy a plot at the time when rates are relatively low. Also watch and listen for times when people are afraid of investing in property. When you hear of people fearing a financial loss in future with regards to property then that is the best time to invest your money. Buying when the rates are high may cost you to pay more than you really need to on a plot.

Tip #8 Beware of old sales

Always be on the look out for property that has been bought and sold multiple times. Usually there is some underlying non mentioned reason for these constant transactions. So if you happen to come across one of these deals do some research. Find out why it was sold and transferred many times. It could be anything from bad financial deals to a problem with the property itself. It is best to find property that places you as the first owner if possible.

Tip#9 Execution

While it may save a cost on agency fees, going through a plot purchase alone is not recommended. It is better to have an agent working with you. They are more informed on legal issues and procedures. They know how to execute the best deals out there. An agent can help you close your deals faster than doing without one. This can also help avoid any problems you may run into.

Tip#10 Plan B

If you overall plan to purchase a plot should fail you should have a back up plan. That may mean looking at a second or third available plot. So you should keep your options open and be ready just in case a deal falls through. So before you decide to buy a plot do as much research as possible into all these tips. This will help you avoid any problems and help you get the best deal possible for your investment.