Locations That Could Turn Your Lifetime Savings Into A Nightmare
The most important factor that matters to a property is its location. Buying a property is not something that you can do without proper information and research. A small property or a house that’s is not in a very good condition can give much higher returns than the finest property in an average location. Like there's a beautiful house, but it 's in the middle of nowhere, then its value will automatically decrease. So, location matters a lot in real estate.
Avoid Undeveloped Areas:
Buying a property which does not have any proper development plan is a bad decision. These places have no chance of being developed and usually, people also avoid investing their money in undeveloped areas and this is why buyers/investors may also lose their interest in such property. Buying a property in such areas is also very difficult especially when it comes to documentation. So, it is best if you go for developed areas. Well reputed and developed areas are always people’s first choice and this is why there’s always a high demand for reputed projects like DHA and Bahria Town.
Don’t Compromise On Services:
People should only go for societies where security and maintenance are provided. These features are considered as basic necessities and property that is even in highly central locations will suffer if there isn’t enough security. Crime rates and reputation of the area is one the most important features that are usually noted by agents. Even the best properties in these areas are not worth buying if there is no sufficient security for people. So it's better to buy a property where they provide you proper managing committee where they inspect every suspicious activity on daily basis.
Noise Levels And Convenience:
Commercial areas are valuable, but buying a home near commercial area may not be a good decision. There will be a lot of traffic noise which may become a headache for you soon as you start living there. Even homes that are right next to schools can also cause a great problem for homeowners especially when it comes to traffic, people may tend to park their cars in these property’s outdoor areas, making it inconvenient for the property owner. Another risk is that your belongings may also get stolen because of too much crowd. The only advantage of investing in the commercial area is that you'll get highly paid whenever you'll try to sell it.
Near An Open Drain:
The worst possible area to buy property is a location near a drain. The odour risks can make it very difficult for people to live there and that’s why these locations very low in demand. Even in popular areas, property near open drains has significantly low prices than ordinary property. Property near an open drain can also affect your health and if you consider these factors, then this a really bad choice to buy a property near it. It's a loss either way.
Location is the main factor which should be considered when buying a property for any purpose. Avoid given locations and do check society’s map before you purchase any property.