When realtors say that the location of your house is a significant factor to consider, they mean that a house should be near required facilities, so their presence can add value to the property’s resale cost and make it beneficial to both investors and buyers.
But how can you be sure of such circumstances if you aren’t aware of them at first? So, to help you come to par with the essential elements needed to know when investing in Pakistan’s real estate sector, we have gathered a list of five necessary amenities that can help your property’s price skyrocket in a comparatively short time:
- Parks and Playgrounds
- Fully Functioning Mass Transit
- Educational Institutions
- Retail Centers and Commercial Markets
- Man-made Landmarks
Parks and Playgrounds
Novice investors only have an imprecise understanding of where they want to invest. If they decide to invest without taking into account the location or area of the property and some other factors, they are in for a surprise. The same assumption applies to homebuyers as well. The availability of better public parks follows public transport since it is a good sign to consider a property’s location and its investment potential.
Whether you are purchasing a house or an apartment, be sure that it is near well-maintained and reliable public parks or playgrounds for a few obvious reasons. Though parks and playgrounds are an attraction for home buyers with growing children or people who got pets. Here are a few more reasons why public parks or playgrounds are considered one of the top amenities to have nearby:
- Having public parks with walking or jogging tracks can easily help you maintain a healthy and productive lifestyle.
- Public parks are generally free and do not demand you to be a paid member. It only requires some snacks and drinks of your choice to enjoy a calm evening with your children.
- It is an excellent place for public meetings and socializing with your family and friends.
- Green spaces, particularly parks, have proven to be beneficial for physical as well as mental health.
Fully Functioning Mass Transit
Public transport is the first most crucial spot on the list of essential amenities that can increase the value of your property. In fact, having your real estate property near busy areas usually comes with a premium as opposed to secluded areas.
Public facilities, including transportation, are one of the best value-boosters for home prices. In this regard, the most famous in Pakistan are Metrobus Stations. Let us say that your property is in great condition but is far away from the necessary amenities, particularly transport. As such, the odds are high that your home will sell for a lower price than a similar property located in proximity to public transportation.
The number of factors that affect a house’s value is more than what you can count on your fingers. And, it does not matter how long or short the list is, or for which city it is being made for, it mostly does include reputable educational institutions nearby.
- Residing near schools teaches independence in children, primarily when the school is situated at a walking distance.
- It allows parents to live without the fear of something going wrong or getting late for school.
- Having a school or college nearby can reduce the extra costs of conveyance.
Retail Centres and Commercial Markets
Imagine you get a call from a family or friend that they are coming over. You choose to cook something special, but as soon as you open the fridge, you find out that you have run out of basic groceries – what would you do? Well, anybody’s first impulse will be to run to the nearest supermarket and grab all the necessary ingredients.
That said, proximity to supermarkets and retail stores has a close relationship with house prices and a direct influence on them. Homeowners in Pakistan favor living in or near commercial areas where they can simply shop for routine commodities.
The geographical location of a property is, hands-down, the most crucial factor in deciding and growing a property’s price. This is not just the case in Pakistan. Homeowners over the world prefer to invest in properties that are present near-natural landscapes, such as green spaces, lakes, hills, or any natural or man-made landmarks since they add to the aesthetics of the neighborhood.
In conclusion, where you decide to live or invest in a city has a direct influence on how much profit you will make from its resale. A neighborhood that comes off as an appealing space to you is mostly a concern of personal choice – which means that it depends solely upon whether you want to live near commercial markets, public transport hubs, or schools. Though, a stunning property will have at least three of these factors that we are included in our list above.