How to Grab the Best Property Deal in a Furious Market?
For the past few years, Pakistan real estate sector has been experiencing several ups and downs but by the end of year 2018, property prices in most of the cities had been stabilised and few markets demonstrated positive growth. 2019 brought a new hope for real estate investors as the year has been exhibiting positive growth trends in realty sectors across the country, since beginning.
Lahore real estate has always been a favourite investment hotspot for serious property buyers and investors alike and since the beginning of 2019, the realty market showed positive growth signs with property prices increasing in a few localities and showing stability in the rest.
So what can you do to buy property in this much furious market at competitive price? Following are the tips to grab the best property deal:
Research about the Area
Never start finding a property in the selected area without thoroughly researching the property market in the given area. Remember, buyers who stay ahead in the competitive market and make the most from their investment always do the market research in advance. Knowing the property market and the value of property in advance means that you can quickly make an offer, whenever the desired property becomes available.
Consult Property Professional
A fiercely competitive market means a lot of buyers are competing for good properties. However, it is not possible to proceed without the help of professional, who can guide you throughout the process. Furthermore, he can also escort to more choices beyond online listed properties. It means helping prospect to invest in properties, which are not yet listed and bypass the competition before it arises.
Stay in Constant Touch with Property Agents
Another best way to beat the competition is to work on the options before everyone gets to know about them. Experts at HomesPakistan are of the view that potential buyers must be in constant touch with the local real estate agents in the areas they want to invest in. When the property market plays positively, plenty of interested buyers get in touch with real estate agents, so they might forget calling you when they find an attractive property so you will have to stay in touch with them. It means you will have to be very active and it includes speaking to them as often as possible and visiting them at least on weekly basis. Developing close relationship with these agents will help you grab the best opportunity as soon as it pops up.
Do your Homework
Besides being active, you will have to be fully prepare before any opportunity rises up, which includes knowing the real value of the property before making an offer. In the competitive market, you will have to hit hard and hit right as competitive market gives you no second chance. If it is a good property and if it is what you want, grab the deal by making a reasonable offer. Leave a room for negotiation and let your agent know that you are interested in the said property and he will do the rest of work for you.
Armed with the above-mentioned information, you can make the best real estate investment decision at the right price.