Real Estate Investment undoubtedly attracts people. Individuals expects to double their hard-earned money. In addition, people put their money into Real Estate Investment mainly because of various reasons that rotate around speculation, for example, – the retirement plans, increased resources, the financial independence and many more.
Whatever the case is, we all somehow know that investment in Real Estate is not a piece of cake. Furthermore, it’s not as simple as it seems. Here, we have gathered few things that would lead you to regret your decision in investment.
Fail to research properly
Whenever you going to buy any product either be it car, bike or any other equipment, you do some research. What most likely people tend to do is
Compare and analyze models
- Pose questions
- Inquires about it
- Chose the best one
- Buy product
Same is the case before investing in nay real estate project. Any investor must do the research. He or she should must ask question regarding location, development, NOC, facilities and many more. Also, do visit the development site yourself as well. In addition, do not forget to consider and compare other options.
Not knowing complexities
You should have grip on entire procedure of purchasing and selling and complexities involved in Real Estate investment. It will assist you with settling on right speculation choice. Further, chances of being dodged also reduced.
No Budget Planning
This one of the common mistake that beginners usually do majorly due to lack of experience. Impractical budget estimation can be related to anything. For example, usually investors overlook the cost spend on
- Property transfer fee
- Agents’ commission
- Stamp duty
There are several other legalities that require huge amount. Furthermore, there are tons of other additional costs matters including repairs, tax, bills, paints and various maintenance expenditures. Thus due to these unplanned expenses things got really hard for novice investors.
Also Read: What is Exit Strategy?
Investing all you have
This is one the major mistake and makes investor regret their decisions. Putting all your saving and asset in an investment is a big blunder. Experts believe that investors should never invest all of their savings in one single venture. They have backup for any unpredictable situations. Saving some for rainy days is crucial in real estate investment.
You May also Like this
Keeping in view of Pakistan's Economic situation showed positive signs after mid...
Bahria Town Peshawar is a splendid addition in Bahria Town project Portfolio....
Rawalpindi and Islamabad is more inclined towards vertical expansion rather than horizontal....
It is never easy to move from one rental property to another...
Smart City With almost 50% of Pakistan’s population residing in urban areas...
Real Estate Investment is an interesting way to maximize your profits. Experts...
Property Tax Guide Pakistan is listed in high population countries with almost...
Islamabad Islamabad is the 2nd most beautiful capital in the world. This...