Buying the first house is one of the most memorable days of a person’s life. It is the day when a person gets his dream house after going through long hardworking days and a crucial process. Whether you are purchasing a house to live in it or you are going to start a real estate business based on a buy-and-hold strategy. In both cases, you will need some kind of assistance and guidelines to follow.
Jumping into the field of real estate without experience or definite knowledge is just like a football player landing on a cricket pitch. In Pakistan, many factors keep changing and need to be handled with great tactics and experience. So, all you need to do is to follow the guidelines and take help from any real estate agent to help you find the house of your dreams. Here are the 6 simple steps to buy your first house in Pakistan.
Ascertain the Type of House
First, you have to be specific about the type and size of the house you want. You can choose among single floor house, multi-story house, single-family house, multi-family house, apartment, or tiny house. Knowing the exact requirement of the size and type will help you get to the right property without wasting time on irrelevant properties.
Target the Suitable Locations
Next target and mark the suitable locations according to your inconvenience. Consider all your family members’ offices and job areas to avoid future problems of accessibility. The locations directly influence the prices of the property and also let you choose among the different facilities available in different areas.
Search for the Legal Status of the Property
Check the NOC status of the housing societies in the selected areas and also look for the NOC of the residential apartment buildings to avoid all sorts of legal issues in the future. You can check for the legal status by visiting their offices or just check for it by visiting the website of the official development authorities because they update the list of all the approved housing societies in the concerned areas. You can also check our article about How to check housing society registration in Pakistan. It is going to help you check the registration of housing societies in your targeted areas.
Find and Hire an Agent
After the above-mentioned preparations, now it is the right time to contact a real estate agent. Now you have the exact information to direct the agent to hunt the right property for you. First, find a suitable and honest agent. Do not rely on only one agent or broker. Contact and meet multiple agents and use your instincts and knowledge to choose the right one. Be clear about the financial budget you have and the commission percentage. Make an agreement with him and be direct about all your requirements about the house. Don’t let any agent manipulate you by offering you different properties and houses which you don’t want.
Visit the Selected Houses
The agent will now select the houses for you and will tell you about all the features individually. You have to visit all the targeted houses and see examine them yourself. You can also bring the electrician and plumber with you to examine the electrification and sewerage system installed in the houses. Investigate the neighborhood and see if it is a safe place to live or not. You can also ask the nearby police station about the crime rate in the area you are interested in. Many people only rely on the agents and only visit the site once and don’t do investigations on their own. But it is suggested to involve the agent in all the investigation activities.
Meet the Seller and Finalize the Deal
Now meet the seller of the house you want to buy. Don’t rely on indirect communication. Meet the buyer yourself to avoid any miscommunication so the agent doesn’t tackle advantage of it. The agents often receive money from the other party by lying about many facts on behalf of the other one. So, be direct with the seller. Do all the documentation and complete the paperwork and legal obligations. Choose safe modes of payment to avoid fraud and theft.
In this article, we have provided you with the pro steps to buy your first house. People are usually told that buying a house is no big deal and that all you have to do is accumulate money to buy it. The real struggle is on the way after you collect the money because spending that hard-earned amount on the wrong property is just like dumping the money in a landfill. So, we have written a comprehensive article to guide a layman about finding and buying his dream house.