Tips to invest in property

We all know the simplest way a person can invest in real estate is by buying a rental property and getting monthly payments in the form of rent, from the tenets. There are thousands of rental properties and thousands of tenets in search of homes. Or, another way is to purchase a plot, and keep it for the long-term to sell on a future date; there are about 17000 plots available for sale in Rawalpindi / Islamabad alone.

Buy files from any of the competing housing societies, and wait to see if the property is reaping results. Or invest in flats and apartments, get your hands on commercial property; shops, etc. There is an escalation in vertical living, and in cities, the trend is shifting towards apartment housing in comparison to horizontal living. There is a rise in population, land space is falling short, especially if people want to live surrounded by amenities, public facilities (schools and hospitals, etc.), and shopping places. The purchase of land in a far-flung area, wishing for it to turn into gold in this lifetime, is another way to go for it. Thanks to CPEC, Gawadar is one such opportunity. There are many intricate details involved in all of these, and with proper guidance, you can hit a jackpot.

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Renting out property involves a lot of factors that can be gruesome. Managing tenets while being a piece of cake for some can be a tad bit difficult for others. It requires a magnificent amount of capital, which involves buying costs, maintenance of the place, covering vacant time, and more taxes, etc. Take help from experts to dodge the bullet and do not be dealt with by the charlatans.

Buying a plot is a solid investment plan to put your bets on, but it needs a larger investment budget, and the bounty is bigger as well. It is a very safe investment with the least risks involved. Good market research is significantly required, for where you want to purchase the plot and how developed or underdeveloped the location area is. In the twin cities, the price varies between 3.5 lac per marla to 85 lac per marla depending on the location. If the development is under process, this purchase can turn peanuts into magic beans pretty soon.

The file is an intangible asset when you buy it, as the existence of the plot is on paper, and the possession is also hanging in the air. The good thing is it involves lesser risk, as very low investment money is required. As the saying goes, “do not wait to buy property, buy the property and then wait”. You need to be patient as returns on the investment are high and it is an enduring commitment to your dream reward.

If you need quicker earnings, and it seems more like a dangling carrot, you may go for other options in the market. Buying an apartment in a building, and renting it out is a profitable investment. You keep the apartment, you can resale it in the future and until then you can rent it out to get monthly treats in the form of rent. Don’t be penny-wise and pound-foolish; spend a little to get hands-on quality investment through a property agent. Similarly, you can look into commercial property, which needs larger capital input and yields gigantic revenues. There are a few reliable companies, in the market, with transparent plans and investment options.

So, you can try some shoes bigger or few, which are a bit tight but get the shoes that fit perfectly. Get litigation issues clarified, title deed check, and soil testing in case of land, and security in area, amenities, facilities, and neighbourhood before leaping into the big ocean of property market. Do your research by looking into the market trends and prices, determine your budget, and then plan if you can invest for a long period, or if you need your returns preferably earlier. Also determine, if you want to get the property in a developed locality, within a city or an area that is a bit farther but will be developed soon, etc., and most importantly get help from experts.

One would be wise enough to follow the advice of Robert Kiyosaki, the author of the No. 1 bestseller of the personal-finance genre: “Build your financial IQ”, before venturing into the unknown investment vistas.

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ADNAN ALI MUGHAL

ISLAMABAD

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