Today we are going to discuss real estate or house related issues which can make you suffer for whole life or may be your generations will be suffering for the mistakes that you have made. We do design related, construction related and real estate videos on this channel Ghar Plans Pakistan.
Let's see what those mistakes are and how you can prevent them from happening:
1. DIDN'T MAKE A HOUSE AND STARTED A BUSINESS:
Some people start business and whatever savings they have to make their house, they invest in the business. Initially, some people do well in business and some other don't do any good at all in the beginning. In this process, the people who won't do good will lose all their savings and time and will not be able to make house. Those who do perform well, tend to expand their business and in this process lose money and then as you grow older, your costs or expenses tend to increase. So, you are not able to save money. In this case you are not able to make a house even when you retire from a job. Those people who plan to do business should make a budget house first and then start business. This will be a good risk mitigation strategy.
2. SAVING MONEY ALL MY LIFE TOM MAKE IMMACULATE HOUSE:
Kept on saving money for my house so that I could make an immaculate house at an immaculate location. During the time I was collecting money and funds, either price of plot went or prices of building material increased and in this viscous circle I was not able to make house at all because then my expenses increased. Suggestion is that make a budget house and then start looking for option of making immaculate house.
3. OVERSEAS PAKISTANIS KEPT ON SENDING MONEY TO THE RELATIVES TO MAKE A HOUSE, BUT ONCE CAME BACK HE HAD NOTHING:
Remained out of Pakistan and worked really hard, worked for extra hours to save money and send it to Pakistan but once came back, the relatives had refused in giving any support or even transfer any money and none of the property was in his name. You should spend some more money and visit Pakistan and then transfer property in your name rather than trusting relatives.
4. INVESTED IN HOUSING SOCIETIES WHICH DIDN'T DELIVER AT ALL:
I invested in housing societies which never delivered the plots. I was unlucky but this was what had happened to me. So, try to invest maybe in far flung areas but only invest in areas where you have possession plots though they might not be colonized.
Housing societies know that there are people who don't have money to make full payment so either they have to borrow from bank of they will pay higher for plots which are on installments so they also start charging higher.
5. DESIGN OF HOUSE WAS WRONG:
You made or choose the wrong design which didn't fulfil current requirements or future requirements of your family and now you are nowhere. Spend more time in designing your house.
6. GOT HOUSE MADE FROM RELATIVES:
I got house made from a relative and now in few years it is giving shabby look. He made a lots of margins out of the same house as this was the only place he was constructing and then all his mistakes were incorporated in the costs.
7. BOUGHT A CONSTRUCTED HOUSE: Got a constructed house and it doesn't fulfil my requirements in any case. It is shabby house. For this, you should either construct a house yourself or over the weekends, search for houses which are build by builders and look for a house that is properly constructed especially at a grey structure level.
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