Buying an Apartment is a good decision in Pakistan?
With the downgoing economy of Pakistan it has become very challenging for a middle-class family to buy their own house in Pakistan. Lots of people are interested in buying a house, but they can’t afford a house because of the high prices of property even the people who have few lacs in their hands can’t buy a decent house for their family. The high-rises and apartments are becoming a coming sight in Pakistan because the prices of apartments in Pakistan are affordable. Many people say that buying an apartment is not a good decision Today we are going to discuss with you that why Buying an Apartment is a good decision in Pakistan?
Apartments are Affordable
Apartments are Affordable as compare to houses. The prices of apartments are affordable not only for elite class but also for a middle-class family. You can buy an apartment in Pakistan easily within the range of 25-30 lakh. According to the government of Pakistan rule if you are buying a property that costs over 50 lakh you have to pay tax. Before paying the amount for your apartment/plot you have to first register yourself as a taxpayer and get your NTN number. If you are not an NTN number holder you can’t buy the property that costs equals to or more than 50 lakh Pakistani Rupee.
Good for Future Investment
Let’s suppose you have 60 lakh rupees in hand and you are interested to invest your money to earn a profit or you are planning to secure the future of your family.
Question: what you should do?
Answer: As you know the amount 60 lakh is not enough for you to buy a decent house for the family or for-profit purpose. Yes you can buy decent-sized apartments within the range of 60 lakh not only one but you can buy two apartments.
Question: Why buy apartments?
Answer: The purpose of buying apartments is that you can enjoy the rental income of apartments. Not only this you can save your money for the future to buy a house for the family. Buying as an apartment is your short term investment. With these short term investments you can generate more income and can save more money.
Pro Tip: Save your rental income for the next 5 years. After 5 years not only the value of your apartments is increased also you have savings in your hand. You can now combine both investments by selling both apartments and rental income savings to buy a new house for the family.
Question: Why Invest in Apartments, not keep in Bank Account?
According to the current economic situation of Pakistan the price of Rupees is decreasing whereas the price of Dollar is increasing rapidly.
Let’s suppose the current prices of the dollar are Rs.150 / USD and you are planning to keep the amount of Rs.5 Million ( 50 Lakh) which is approximately equal to $33,333 USD. After some time because of the economic devaluating the price of Dollar increases to Rs.160 / USD. Now your amount is devalued from $33,333 USD to $31,445. This simple example shows us that the idea of keeping your money in a bank account is not profitable. Buying an apartment will not only give you monthly rental income but the value of your property will also increase resulting in more profit.
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