My current circumstances allow me to build a 10 marla house in Bahria Town (B). However, my long term situation is that I will possibly be out of the country for a very long time, around 10-15 years. The house will in all likelihood stay unoccupied, or can be rented.
How risky is it to rent houses in Lahore. Would it rent? What kind a rent on a 4 bed, 4 bath, 2500 sq ft house? Am I throwing money into a rat hole by investing now? What if I sell after it is built, and it is clearer that I will be away, how much of a loss should I expect as per today’s market conditions? How long does it take to sell houses in Sec B?
ali11 replied on Wednesday, April 29, 2009 03:20 PM
better buy a piece of land in a renowned society, and you don't have to worry what's happening back home. |
Jameel replied on Wednesday, April 29, 2009 04:25 PM
buy two plots in the Bahria, when you need house in 10 years you can sell one of them and spend on other. Or sell both of them to buy new built house for you. But buy only developed plots with good approach. Dont go for undeveloped area no matter how sound developer looks. |
Jan Malik, Dammam replied on Wednesday, April 29, 2009 06:28 PM
I second the suggestion made by ali11. Purchase a plot in well sound and renowned society and forget for the period you remain out of the country, but do visit the area/office where your plot lies whenever you happen to be in Lahore during your stay out of the country. I have bitter experience of constructing property and put it on rent. I have no words to say about one of my crook tenants. Can you believe me that he sulet my property to other tenants without my knowledge and had been getting rental money. I know how much I paid and the time spent to get my property vacated. May be you can have a good tenant, but in Pakistan it is almost impossible to find a good tenant. Hope Rana sahib you will adhere to our suggestion. |
Overseeas Pakistani replied on Thursday, April 30, 2009 05:48 AM
If we can afford, we should own a house as quickly as possible here are my reasons:
1- You start enjoying the feel of ownership right away.
2- Constructions cost recently have grown faster than the plot prices.
3- My father died at the age of 30 and left 4 marla house which helped my MOM to raise us with dignity and self respect. |
