Check Your Budget
First, of all, you need to know the budget you have for your property investment. Generally, it consists of savings and how you would be paying if the property is available in installments.
Additional Costs
Always consider the additional costs if you are buying a house or a plot for construction.
Let’s say you have found an excellent plot, and now you think about constructing a home over it. Moreover, You might be thinking of renting out a house that you would build up for passive rental income. All this planning involves various costs that you cannot calculate on your own.
Starting off, you might have learned about the total payment of the plot that you have invested. On possession, you come to know that there is a transfer fee and taxes by the government. However, this is just one example of how some unaccounted hidden costs can raise your budget.
Location
Before you start looking for a property, you will need to check for these main criteria. The location is the first and foremost criterion that will set the future return on investment.
Moreover, the location is decisive because it will also define your lifestyle. However, there are some other essential aspects to consider concerning the location of the property that is:
- Is it close to the city center?
- Is there public transport available?
- Will it be necessary to buy a car to reach the property?
- Will children be able to access schools and colleges?
- Are there any shopping malls nearby?
- Is a hospital near and the pharmacy?
As you can see, choosing a location also involves making life choices that are important to yourself and your family. Unfortunately, the best localities are often the most expensive, so you need to improve your budget.
Legal Status
By far, the legality of a property is the most critical part of your research. If you are buying property in Islamabad, which can be a plot, house, apartment, or shop, in either case, check for the legal status.
It is easier to acknowledge the legal status of established housing projects, such as DHA, Bahria Town, or Gulberg Greens. Islamabad as their land record is computerized, moreover, they have on-location offices. However, in the case of new housing projects, you must check for CDA-issued NOC and land ownership documents.
Before buying, you must also check the status of installments paid if you are buying a plot without possession.
Facilities and Amenities
Undoubtedly, facilities matter a lot in making your life better. Before buying a property in Islamabad, you must check for the available amenities and other features. Some of the basic amenities include water, gas, electricity, and sewerage system. However, other facilities include the availability of parks, green areas, roads, streetlights, security, and many others. In case of a new housing project, check the master plan to get an idea of the facilities.
Visit the Place
If you are buying a property, be sure to see it yourself by visiting. We are living in an age of augmented reality where everything looks impeccable in videos. However, it is best to visit yourself before buying. In addition, you should check the groundwork and the progress of the developers before buying property in Islamabad.
If you are buying a house, run your hand over each wall. This allows you to detect certain defects that are not always visible to the naked eye. If the wall is cold or wet, beware, there might be some material problem underneath.