Are you hunting housing societies in more than one city to buy your first residential plot? Maybe you are at the stage in your life when you feel a home is the man’s best asset. And true it is. But choosing the property is a hectic process. It can be more difficult to buy a plot than to sell one.
Buying a residential plot in the latest housing schemes sounds like a reasonable option, right? If living in Punjab, you can take a look at the royal orchard Multan payment plan to see if it fits your bill or not. You can follow the same practice for other popular cities like Lahore and Islamabad too.
However, before agreeing to make a transaction there are a few things you should consider at the time of buying the residential plots.
1- The plot size
When buying a residential plot to construct your dream house, always pay attention to one major detail i.e. the plot size. If you want to have a home garden with a 3-bedroom home then you should opt for a 10 Marla plot or even a 1 Kanal plot would do the deed.
The optimal area of a single-family is 700 m2. The larger the plot, the more expensive it will be and disturb your budget in a big way. You might be able to complete the ground floor at the time but won’t be able to construct the house completely.
2- The shape of the plot
Not many are aware of the fact that the shape of the plot has a huge impact on the architectural design. Whether you bought a large plot, say at 1 Kanal, but still may not be able to utilize it at its full capacity because the plot had a diagonal cut.
An irregular shape plot like triangles or trapezoids is problematic to come up with the best design for the house. For instance, if the plot is less than 16 m wide, it will become quite a challenge and become more expensive.
3- Plot arrangement
The shape of the plot will also impact its arrangement to the surroundings i.e. in relation to the directions and access to the road. Usually, it’s recommended to have the entrance in the north and the garden in the south. It is also important if you want to install solar panels or want a wide garden space.
4- Access to the plot
The residential plot you are interested to buy must have an access road width specified by the local authorities.
Usually, it is a public road, however, it is important to establish an easement of access. Physical access to the plot does not guarantee formal access.
5- Neighboring area around the plot
When buying a residential plot, always check the neighboring area. You should keep in check the nearest shop, the distance from educational institutions and the accessibility for public transportations and so on.
A residential plot is a long-term investment that must bear fruit. It should not become a burden in other misc expenses. Therefore the area should be safe and sound.
6- Designation of the plot
Sometimes the stars are the fault and the residential plot assigned to you is designated as industrial or agricultural land. This can be seen in the latest developmental projects that yet have to receive their NOC approval.
Unless the plot you seek is in a legal and approved housing society, we recommend you not to buy a plot. Always choose the plot in the schemes that are approved by the governmental authorities so that there are no future claims.
7- Corner/park facing plots
Plots situated on the main streets, boulevards, or corners are always the highest in demand in the buyer’s market. This gives the real estate agents an edge to drive a complete sales funnel. Property facing the parks usually has a 10-15% higher rate. The buyer has multiple reasons to buy specific plots for comfort and privacy. Also, it gives direct access to the main road without getting stuck in the streets.
Conclusion
These were some of the most significant factors that you should keep in mind when planning to buy residential plots. Remember, commercial plots requirements differ from residential plots. Because these plots are meant to be used domestically they should offer comfortable living for you and your family.