Sunday, April 29, 2012

Buying and Selling Real Estate at the same time

Selling an existing property and buying another one immediately afterwards involves a few inevitable risk factors, especially if funds are limited. A major concern for most homeowners who are doing this real estate investment, this is whether or not they will be able to find the right property ti buy immediately after selling the one they are residing in.
Here are few tips to making the process of real estate investment easier:
1. Sell first and then buy. Put all your energy and resources towards selling your existing property first; getting the right price can take months of negotiation. As soon as you have a couple of offers from potential buyers, start searching for a new property. Don't be procrastinate, because time is money when the property market is in flux.
2. Add the following points to the sales deed after your existing property has been sold:
  • A grace period that allows you to stay in your current property for at least three to six months before you have to hand over the property.
  • Agree on a payment schedule which allows you to receive 98% of the payment at least 10 days prior to the handover. This will give you the funds to purchase the new property and in this way you things will be easier for you in doing real estate investment.
3. Prepare to rent. If you can't find the right property to buy during the specified grace period, be prepared to live in a rental property. This is better then rushing into a deal. You can even ask your buyer if he/she will allow you to rent the current property for a few months.
4. Be Prepared. The new property that you buy may require renovations. In this case, ask the seller for permission to begin renovations before the full payment is made. In most cases this requires a 25% down payment.

Monday, April 16, 2012

Best Real Estate Investment opportunity in Lahore, Pakistan

Over the last decade, the trend of upscale, gated residential communities has emerged in Lahore, Pakistan. Some of which are comparable to international projects in terms of planning, infrastructure and real estate investment opportunities as well as the amenities they provide.
Khayaban-e-Amin is one such project attracting real estate investment from across Pakistan primarily due to the fact that it is envisioned to be an upscale, well planned and secure neighborhood.
It is located opposite Valencia Town, a posh and well-known residential area, on Defence Road, minutes from Shaukat Khanum Hospital and Thokar Niaz Baig. Spread over approximately, 1,400 acres, Khayaba-e-Amin comprises 16 blocks.
Although it was established in 2005, so far only two block (E and G) have been completed. Two blocks are under development: Block L and a block which will only cater to Pakistanis living overseas.
Development work on these two blocks is expected to be completed within two years. Pre-constructed houses (built on plots measuring 125, 250 and 500 square yards) as well as vacant plots are available.
Proposed amenities include a small commercial area, community center, hospital, mosque, several parks, school, internal shuttle service, round-the-clock security in the form of manned gates and surveillance cameras and an independent water filter plant.
The pricing structure (in rupees) of property in Khayaban-e-Amin is as follows:
Plot Size                                 Purchase price range
125 sq yds                                   1-1.2 million
250 sq yds                                   1.8-1.9 million
500 sq yds                                    2.8-3 million

Houses Size                           Purchase price range
125 sq yds                                   2.3-3.5 million
250 sq yds                                   5.6-6 million
500 sq yds                                    8-8.5 million

Saturday, April 7, 2012

How you can do real estate investment for less than Rs. 10 million in Peshawar, Pakistan

Peshawar is one of the oldest cities in Asia and has been the political and commercial hub of Khyber Pakhtunkhwa for decades. Peshawar could be the best place for real estate investment as it is the most developed urban center in the province, Peshawar attracts a large population comprising migrants from the surrounding rural and semi-rural areas. This has resulted in increased demand for residential property.
Here is a look at residential areas in Peshawar where houses you can do real estate investment for less than Rs. 10 million
Askari and Falcon Societies: Developed by Army Welfare Trust, these small residential societies are located near the Peshawar Airport. Although they do not have a lot of commercial activity, they are popular because they are extremely secure.

Plot Size (sq yds)                                Purchase price range (Rs)
125                                                         5.7-6.8 million
175                                                         6.8-8.3 million
250                                                         8.4-10 million

Cantonment: Located in proximity to Peshawar Airport, Cantonment is an upmarket area and best for real estate investment. It is along with Saddar, Peshawar's busy commercial zone, three historical Mughal gardens are located there, as well as Deans Trade Center, Edward's College, the Governor's House and Peshawar Museum.

Plot Size (sq yds)                                Purchase price range (Rs)
125                                                         6.9-8 million
175                                                         8.5-9.5 million

Hayatabad: An upmarket residential neighborhood, Hayatabad was established in the 1970s by the Peshawar Development Authority, without any doubt an ideal place for real estate investment. Several prestigious educational institutions, parks, a community center and a sports complex are located there as well as numerous banks and government institutions such as FIA, NAB, NADRA and the Passport Office.

Plot Size (sq yds)                                Purchase price range (Rs)
125                                                         5.9-7 million
175                                                         7-9 million
250                                                         8.6-10 million

University Town: University town is another perfect site for real estate investment. It is located about five kilometers from the city center, this is a rapidly developing area. Several international aid agencies, foreign consulates and guesthouses are located there as well a some of Peshawar's best educational institutions.

Plot Size (sq yds)                                Purchase price range (Rs)
125                                                         6.5-7.8 million
175                                                         8.2-9.3 million
250                                                         9-13 million

Sunday, April 1, 2012

The Townhouse Trend in Real Estate Investing

Historically, townhouse trend in real estate investment were the urban residences of the European aristocracy; they were 'simpler' houses, which were not as lavish as their country real estates and were usually located in the urban centers.
In Pakistan, modern townhouses are usually double storey, semi-detached houses within a shared compound. They have become a popular real estate investment, because while they are independent homes, comprising three to five bedrooms, they offer security and ease of maintenance.
Like apartment complexes, townhouse compounds are also managed by the homeowners' associations that take care of water, sewerage and security issues.
Townhouses are gaining traction in Pakistan, especially among the buyers who have smaller budgets but prefer to live on a house within a gated community.
Here is a look at the availability of townhouses in Pakistan and their prices:

Townhouses are primarily located in Civil Lines, Clifton, Gulistan-e-Jauhar, Gulshan-e-Iqbal and PECHS.
Plot Size (Sq Yds)                           Purchase price range
120                                                    100-150 million
140                                                    135-170 million
180                                                    150-200 million
240                                                    180-280 million
300                                                     220-320 million

Townhouses living is catching on in Lahore due to the establishment of several new housing developments, most of which are in Gulberg..
Plot Size (Sq Yds)                           Purchase price range
125                                                    60-120 million
270                                                    105-140 million
500                                                    150-200 million

Islamabad and Rawalpindi
Bahria Town is one of the other townhouse schemes. It has projects in Islamabad and Rawalpindi, which are set against a suburban landscape with greenery and good infrastructure.
Plot Size (Sq Yds)                           Purchase price range
125                                                    55-90 million
250                                                    70-100 million
300                                                    120-150 million