Must-ask Questions while Buying Property in Pakistan
Buying Property is rapidly adopted as a business in Pakistan. Every other person with 7 digit bank balance invests in Real Estate. However, the things seen by a common man is just an iceberg of this Real Estate Investment. It is actually a lot deeper than it usually appears.
When it comes to investing in property market of Pakistan, you need to be extra vigilant. Careless & unwise decision might cause you a lot of irreversible loss. Before throwing your money in to any project, you should ask certain questions to yourself. In this blog we will list down all the Must-ask Questions you should ask while Buying a Property in Pakistan. They will definitely save you from losing a fortune.
Question#1: What is the status of civic utilities provisions in the area?
It is the foremost important question to ask. Since, civil utilities like water, gas, electricity & internet is the utmost priority to live a life. Moreover, there are certain areas in Pakistan that are facing such issues. Thus you must consider this point. Do not ever rely on owner’s words. Try to figure it out by yourself that what is the rate of utilities provision in the property.
Question#2: How is the neighborhood?
Whenever buying a house, do explore the neighborhood vigilantly. The disturbing neighbors often make you regret your decision despite of having all other facilities. Moreover, checkout if there is any medicine facility, educational institute, departmental store and banks located close to proposed house. Keep also in view of all basic necessity shops & petrol stations. It will help you in the long run.
Question#3: What is the legal status of Property?
Never stick your money in any legally unclear property. Moreover, the owner himself will never tell you about it. You, yourself, have to ask about it. Always remember that as a investor or genuine buyer no else except you is responsible for your investment & those showing & sharing with you might not share the same interest. Also, ask about it from neighborhoods & surrounding real estate agents. Usually, new buyers are extra conscious about legal issues.
Question#4: Why owner selling the particular house?
It is not a personal question. It is your right to know what comes with the price you are paying. Since the answer to this question will help you determine the many other things. Like if owner is selling it for no good reason then there is something fishy. Dig in to it more to know the actual reason.
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Yet if the stance of a deal looks good, there are a lot of things to consider when buying a house or property. Thus, ask these necessary questions before signing on the dotted lines. It will definitely help you in getting the best bang for their buck.