In today’s market, which is under the influence of the ongoing pandemic of covid-19, buying a home can be significantly stressful. If a couple of home buying tips are considered, then this burden can be released. This blog describes details of home buying tips during COVID.
This blog will surely make sense for you to buy a dream home in the current time remaining within the constraints of the budget. Read this full blog to know about home buying tips and tricks.
You may check out home decor ideas for related blogs.
Tips for Buying a Home Following Real Estate
Real estate is regarded as one of the most discussed topics in Pakistan. As there is a significant increase in population, people are more and more involved in taking their standard of living to a higher level and provide their families with a luxurious living.
Secondly, the ones who are involved in marketing, are struggling to their fullest to bring brand new innovations in real estate housing ideas as well as investment plans, digital transactions, and much more. The real estate home buying tips are advised to be followed by both either first-time buyers or professionals in home buying.
For the above-mentioned reason, tips for buying a home in a competitive market should be kept in mind. Choosing the best real estate contractor can be one solution. This will provide you guidance throughout your journey of buying a home including budget, deadline, and requirements.
Make-up Your Mind
The first and foremost thing for buying a home, comes to mind is, from where to start? Making up mind also the factors like budget, features a person wants to incorporate in his house, time frame, and all the relevant details contribute towards the basics of selecting a home.
The buyers must consult a real estate planning company. The real estate companies provide home buying tips, in a great manner, according to the client’s budget and desires. Moreover, the source of the real estate agency should be authenticated. This is also a part of real estate home buying tips.
Contact A Legal Advisor
Home buying legal advice plays a vital role in the future development of your home. Several societies are not approved as legal, and some housing schemes are being constructed on the illegal property. For such kind of information, a legal advisor must be there to guide a buyer before it’s too late to sort out the issues.
A related blog for home buying tips: tips for hassle-free home construction
Making Your Budget Worthy of Use
Home buying tips stress the budget that leads to the decision of how a home can look like, where it can be located and what features it can embody. For this reason, make your budget adjust in a way that matches your lifestyle. The budget should be divided uniquely so that the output tells everything.
Some valuable suggestions have been preserved as new construction home buying tips:
- Take a handsome amount of around 20% for the down payment.
- Don’t let yourself fall prey to your unnecessary desires, like having three bedrooms, while 2 will be enough to cater to your needs.
- Build a basic structure of your home first, then go for the furnishing part.
- Also, prioritize your budget in small divisions, the most needed factor being the highest.
Related Article: furnished vs unfurnished apartments
Trade-off between Budget & Location
Another one of our tips for buying a home is deciding on what location works for you. Again, a real estate expert can help you only if you come up with certain options. To take an example, if a person wants to buy a home near his office, he will surely have to tell the expert the location and expense he can bear.
Home buying tips indicate that some compromises have to be made. There must be a trade-off between the budget and the location which is most suitable to a person. One factor will have to suffer as a result of the trade-off.
Save And Check On Your Expenses
Expense is a major thing that must be managed on priority basics. The monthly amount should be saved by limiting other expenses. In this way, these savings can be given month by month to the company, you are buying your home from. This will reduce the burden of taking out a large, fixed amount together.
To sum up, all the discussion, buying a home can prove to be a trivial task, if there is no proper planning. Once you have been aided with mindful guidance, it gets effortless. For best home buying tips, switch to Makeen Marketing. It’s a new sensation among all other real estate companies. Contact us, without any delay.
In today’s article, we’ll look at how being on the FATF grey list affects Pakistani real estate.
FATF stands for Financial Action Task Force. This intergovernmental organization establishes worldwide standards with the goal of preventing illicit actions in society. It focuses on the elimination of criminality, corruption, and terrorism. FATF has been monitoring global governments since 2000, and it is constantly revising its list of countries that have failed to comply with its criteria. That list is called the grey list.
FATF Pakistan history is quite a lengthy one, and it has been on and off the list for a long time. The last time it was placed on the grey list in 2018, and it is currently endeavoring to get off it. On the 25th of June 2021, FATF President Dr. Marcus Pleyer declared that Pakistan has completed the major 24 items but remained on the FATF grey list 2021 because it needed to accomplish three more points to be delisted.
Now let’s get to the meat of the matter. We’ll start with some of the downsides and then look at some of the positive aspects.
Foreign Direct Investments Will Be Dawdled
Pakistan’s high rate of interest encourages firms and people residing abroad to invest in the country. Second, it is also aided by the expanding and developing industries. Pakistani real estate has had the most rapid growth in recent years. A flurry of real estate firms, as well as real estate portals, have popped up. It has piqued the attention of individuals and businesses from across the world to invest in the country.
Several international developers have teamed up with local developers to form housing cooperatives. For example, for the conception and building of Blue World City, China’s Shan Jian Municipal Engineering Company partnered with Blue Group of Companies. Because of the risk of losing money, being on the FATF grey list will deter such developers from investing in Pakistani real estate.
Locals and Overseas Pakistanis Will Curb Investments
Because of the same concern, Pakistanis living abroad will not shy away from pooling their investments to Pakistan. They will invest their remittances in stocks, gold, or crypto-currency. Because real estate is highly illiquid, money can’t be taken out immediately if the industry begins to lose money. Several housing societies have set up separate blocks for overseas Pakistanis, like Lahore Smart City. So if there is a halt in real estate investments by people living abroad, Pakistani real estate growth will be stifled.
Should I Discontinue Investing in Pakistani Real Estate?
You might be wondering if one should cease investing in Pakistani real estate given the following circumstances. No! Why? Because to be removed from the FATF grey list, Pakistan has to work on three more points. Which the Pakistani government has promised will be completed in a short period, as it has touched most of those items. On the bright side, consider how investments in Pakistan will be more profitable than ever, if the country moves out of the grey list.
- Real estate is a haven for money launderers, and Pakistan is working hard to track them out as soon as possible. When Pakistan would be delisted from the grey list, it would mean it is a money-laundering free country. It will give investors in Pakistani real estate hope that the market is secure, and they will continue to invest in it. The property rates in Pakistan’s real estate sector will rise as foreign investment increases. The increased rates would mean high profits to the investors through flipping the properties.
- Complying with FATF rules will protect Pakistan against criminal operations such as abduction, human trafficking, and target killing. Consequently, investors will invest in Pakistani real estate with confidence in both their money and their lives.
- It will also help Pakistan to enhance its ties with foreign countries. Several countries acknowledge their efforts to combat terrorism. Many more real estate collaborations will happen in the near future because of these peace-seeking objectives.
- The elimination of corruption will result in the eradication of red-tapism. The legal formalities for purchasing and transferring a home would no longer take as long. Furthermore, it will restrict officials from receiving excessive compensation for performing their duties.
Finally, while being on the FATF grey list would cost Pakistani real estate, the advantages will be higher if Pakistan is no longer on this list. You might as well take advantage of the market’s high property rates. For that, visit Makeen Marketing at Plaza D1, Main PWD Road, Islamabad, or call our real estate agent at 0330-0625336 for more information.
One of the things most investors struggle with while making an investment is comparing two societies. Makeen realizes that it’s a struggle researching and comparing trending real estate projects.
This is exactly why we decided on doing a comparative analysis on two of the leading projects— Park View City vs Blue World City. Read on to watch us compare the two on different facets such as developers, location, legal status, amenities as well as prices.
Which has the Better Developer?
The Vision Group is another real estate project by Aleem Khan— a senior and active member of PTI. The Vision Group’s brand came into existence less than a decade back. Park View City in Lahore was their debut project. The Vision Group is not limited to the real estate industry; it has also ventured into the education field with its debut project— The National School.
You might have heard about the Blue Group of Companies, as they have been the mastermind behind several real estate projects in Pakistan. The network of their projects spreads over different cities in Pakistan, like Sargodha and Lahore. The Blue World City is yet another venture by them in the twin cities. The company collaborated with the Shan Jian Municipal Engineering Company, a Chinese company, to take on this project.
In this debate of Park View City vs Blue World City, it’s worth mentioning that the Blue Group of Companies has announced plans to start a project with the same name in Lahore. If you want to invest in a premium real estate project in Lahore, check out Lahore Smart City.
Which of The Project Has an Ideal Location?
We’ll tackle this question in the Park View City vs Blue World City debate because location matters!
The Park View City location is easily accessible by Kurri Road, Simli Dam Road, and Malot Road. CDA announced its plans to renovate Kurri Road. As a result, Park View City will soon have a smooth road that will make traveling in and out of the city a breeze. Furthermore, PVC is adjacent to the Bahria Enclave.
The project’s second gate is near Bara Kahu.
However, if you require more accessibility to the Islamabad International Airport, the Blue World City location is an ideal choice. To be more precise, it is on main Chakri Road near the Chakri Interchange. It makes it approachable via the M-2 Lahore-Islamabad Motorway.
Blue World City vs Park View City—Which Housing Society Is Legal?
Misinformation about each housing society’s legal status continues to circulate in the market. Let’s clear the air about these two. CDA issued the Park View City NOC in June of 2018. The Vision Group is free to make whatever adjustments to the purchased land as long as they follow the regulations established by the government. As a result, Park View City’s total area is now legal, and investors may pool their money without fear. As it is one of the CDA approved housing societies.
The RDA, on the other hand, granted the Blue World City NOC for 1500 Kanal of land. It also granted planning permission for 427 Kanal. Blue World City just bought an additional 10,000 Kanal of land and has submitted the necessary paperwork to the authorities for approval. The procedure is moving quickly, and you will hear good news shortly. Investors can have positive expectations because the Blue Group of Companies is known for keeping its promises and being honest with the investors of its projects.
Like this article? Click here to read more on Blue World City’s Overseas Block.
Amenities and Facilities
Park View City developers aim to provide the residents with every possible facility within its highly gated community with boundary walls. For entertainment purposes, the housing society will have cinemas with IMAX and 3D technologies. It will also have parks and zoos that will allow people of any age to visit them and connect with nature and its creations. Within the gates of 7000 Kanal housing society, there will be both indoor and outdoor sports zones.
Furthermore, hospitals, schools, electricity, water, and gas are must wherever human beings live. So the developers will provide the residents with these facilities. The underground water traces will solve any water supply issues if faced in the future.
Contrarily, we can say that when comparing Park View City vs Blue World City, both of them provide almost similar facilities and amenities. But, it offers some facilities that no other housing society in Pakistan can match. Take, for example, a full-fledged internal public transportation network that would make inhabitants’ travel inside the scheme easy and inexpensive. When it comes to transportation, we must remember Blue World City’s pledge to provide a convenient road network that will reduce traffic congestion and allow inhabitants to save time. Perhaps you’ve never heard of a housing society with its police station. However, Blue World City will have it for the sake of the residents’ safety.
Which One Offers a Cheaper Payment Plan?
The payment plan or the figures are the most crucial factors in investors’ ultimate judgments. Naturally, the investors want their costs to be low and profits to be higher than expected. So, let’s discuss the Park View City vs Blue World City payment plans.
The Park View City and the Blue World City payment plans are different for each block. But we will mention here the prices for the overseas block only.
The Park View City overseas block has the following plot cuttings, with the following prices that an investor can pay over 2 years in installments.
- 5 Marla (26 X 50) for PKR 5,000,000
- 10 Marla (35 X 70) for PKR 8,500,000
- 1 Kanal (50 X 90) for PKR 18,500,000
The Blue World City overseas blocks payment plan is as follows:
- 5 Marla for PKR 1,350,000
- 10 Marla for PKR 1,900,000
- 1 Kanal for PKR 3,500,000
*The Park View City is near the city center, so the plot here will be slightly pricier than a 5 Marla plot in Blue World City.
What Types of Tourist Attractions and Lifestyles Are Present in Each Society?
According to the Park View City map, it is close to the botanic gardens. They’re only a one-minute walk from this society. These gardens add to the housing society’s natural beauty while also allowing inhabitants to live a healthy lifestyle in the area. Simply said, it’s a pollution-free zone. There will be nurseries and greenhouses where beautiful tropical plants and flowers will be grown and nurtured. In addition, an organic food store will be established in the community to help the residents have organic food available within its gates and that too at a low price.
Blue World City has several tourist attractions that make it a stand-out housing society in the Park View City vs Blue World City conversation. The pair of the world’s tallest horse mascot in the housing society is nearing its completion. One has been erected and is all lit up, while the other is in its assembly phase. Moreover, the Water Theme Park is in its designing phases, and the work on the ground will start soon. For the amusement of people of all ages, the authorities will bring 20 of the world’s most exciting and thrilling rides here.
Both the housing societies are willing to provide the residents with a highly exclusive lifestyle.
There’s a lot more to talk about, such as the development status of both societies, the master plans of Park View City vs Blue World City, and so on. But for that, go through Makeen Marketing‘s detailed blogs. If they do not work for you, please contact us at our UAN 0330-0625336. If you want a more in-depth discussion with one of our real estate agents, come to our office at Plaza D1, on the main PWD Road, in Islamabad.