24/08/2022
Top Five Factors in my opinion are as follows 🙂
1. Ideal Location: Location is the most important factor to consider while investing. Check the closeness of markets, green belts, schools and if you like nature then do look for parks & lush green areas. Accessibility should be from multiple routes and less noise of traffic. There should be at least a small clinic or hospital on premises for any emergency situation or first-aid. Another thing to be considered is the terrain of the land. It should not be a place where there is waterlogging.
2. Secure Investment: To ensure the legality of the society make sure to check its status from your city's authority like CDA, LDA or KDA. You must be aware of the status of Noc & approved layout of the society. Also look for the construction cost in the premises and approval of designs.
3. Future Value: Do an investment analysis observing the trends of the market and knowing the price hikes in recent years. There are two or three options if you are considering buying a plot. Either to sell it on good profit or to construct a house on it for yourself. If you are looking for returns in the shape of rents then you should observe what people would be willing to pay for this place in future. Go through all the possibilities before making a decision.
4. Utilities: It is indeed hard to survive where there are no utilities in society. Check for basic necessities like water, gas & electricity. Water is the most important of all for which bore is also an option. Keep an eye on security services, sewerage system, Garbage disposal and any other amenity you think should be there.
5. Time Value of Money: If you knew this concept you could definitely make better use of your funds. Consider the inflation rate of every year in Pakistan. Currently its 21.3% which means if you invest something today, it should be above these inflation rates in return. Prefer installment options where possible to make most of your funds.
Let me know in the comments if I have skipped any important part 😊
