Why should you buy a home in 2022?

Owning a home is a dream for many people. For some it is the feeling of owning a place where they can live freely and according to their own will while for some it is a sense of achievement. Either way homes are a big purchase, and a lot of people shy away from them just because they are expensive. However, if we tell you that this is the right time to buy a house would you believe it? Well let’s have a look to understand why it may be the right time to buy a house today and how you can buy a house without investing much money.

• Houses equal assets

Although many people believe that buying a house is an expensive thing, however it does not mean that your money goes to waste. Good houses sell for profit and there is a big appetite for real estate business in countries like Pakistan. You don’t have to buy a big house in order to call it an asset. Any property especially houses are considered irrespective of their size. While buying houses you should take consideration of the condition, material used, and the society it is situated in. Moreover, things like house layout also matter while buying house especially if you’re looking to buy the house for business purposes.

• Self-owned houses cost less than rented houses in the long run

When compared with rented houses, self-owned houses cost less than rented houses. Although you do not have to carry out the seldom repairs that arise in houses, you have to pay for the monthly rent. This fixed amount each month accumulates and turns into a huge sum over time. Instead of draining your money each month in the form of rent, you can save up that money and buy a house.

In case you don’t have the cash required to buy or build a house, you can buy a house on lease / mortgage basis. There are many banks that let you buy property on lease with little interest. You can check the interest rate of different rates to make a more informed decision on which option is more suitable for you. In case you don’t want to pay interest, you can opt for banks that work on Islamic banking principles and do not charge any interest. These can be an excellent option as you do not have to pay any interest while securing the house of your dreams.

• Owned houses provide more security than rented houses

Rented houses don’t provide the same amount of security that self-owned houses do. This does not mean that you are not safe in a rented house. However, it means that the home owner can evict you from their house at any time. This can be because of something you did or simply because the owner received a better offer from another party.

Nevertheless, if you are evicted from your rented property, you will have to find a house again and it is a hassle. Especially if you do not have another place to crash at incase that happens. It goes without saying that finding a house that fulfills your needs and requirements is a difficult job. Moreover, moving your stuff from place to place time to time is a difficult and expensive thing to do.

All of these problems can be avoided if you own the house. You can live according to your needs and wants and you do not have to evict the house until and unless you want to. These things add confidence to the owner and are beneficial in the long run. Bodla homes are an excellent option for people who are looking to buy a house as they provide all the facilities that you would get in a modern house. Moreover, the ideal location and easy access to all the basic facilities add to the experience. The prime location of DHA phase 5 Multan adds value to the property. Get your house booked today as Bodla homes are ideal for both personal and business use.

• Houses can be turned into a source of income

Rented homes act only as a source of expense as you have to pay for the rent on a monthly basis. Not to forget the increment you have to pay on the overall rent on an annual basis. While rented houses exhaust your income, owned houses can easily be turned into sources of income. This can easily be done by renting a portion or room of your house.

A lot of people look for houses or portions of houses. You can put the houses / portions of houses up for rent on online property platforms or hire a broker that can bring you potential tenants. This way you can get a fixed sum of rent each month. In addition to that you can also charge the annual increment.

If it is possible, you can buy a smaller house and put the whole of it on rent. This way you can have multiple assets and multiple cash inflows. This extra cash can then be utilized in various ways. Although it is not possible for a lot of people to buy multiple houses, it can be a good option for those who can afford to invest a relatively large sum of money in the initial phase.

This can act as an extra source of income and provide for small things in your house. Nevertheless, it is a source of income and you should definitely rent out a portion of your house / your house if you already own one.

• Houses can be sold for profit

In countries like Pakistan, the real estate market holds a special value. More and more people invest in real estate and it is considered a good practice to invest in property. You can invest in a house for the purpose of business. No matter the use case, chances are that your property will sell for a good profit if it is properly maintained. At the time of selling, you can use that extra money to buy a better property or invest elsewhere.

When you keep the money in the bank, it affects the value of the money as the currency keeps getting de valued. Thus to maintain the value of your money and earn some profit, you have to invest it in some area that will provide you with gains on the capital you invested. In such cases especially, investing the money in property is a great way to make sure you don’t lose your money in the longer run.

• The increasing cost of houses

With each passing day, as the currency gets more and more devalued, the cost of houses is rising. This affects the buying power of customers as their income is not increasing the way the cost of living is. Delaying the purchase decision essentially means that by the time you are able to buy a house, the prices would have inflated so much that you would again have to save more money and this results in a never ending loop.

In addition to that, the cost of mortgages and leases also increases so much that the monthly / yearly installment of your mortgage becomes expensive as well. In such times, where the Rupee has devaluated so much and the earning of people is not increasing relatively, it becomes difficult for the common man to even think about buying a decent house let alone buy it. Thus it is encouraged that if you are looking to buy a house, you should try to make the purchase decision as soon as possible.

This can be turned to your favor. We have noticed the trends of price increments of houses and they are not going to come down any soon. The more you delay your purchase decision, the more it is going to affect you. However, if you buy a good house today and sell it three four months down the line, the chances of you earning a good sum of profit are high. Although we recommend to conduct an in depth market research to know what the real estate market situation is in your city and your area of choosing. Then compare the price differences between different properties in a time line of five to six months. This will give you a healthy comparison to note whether the trends are going up as we say or any other way. This can be used as an excellent strategy to earn a good sum of profit over a period of sixth months to a year. You will have to be patient with your investment and keep conducting market surveys to identify the right time for selling your property. Hiring a real estate agent would be highly beneficial as you would not have to worry about the frequent surveys. Among many other services that Bodla Group provides are real estate brokerage and agent services. Our highly trained staff are on top of all the market trends and will help you in making a highly informed decision. This way you can avoid all the hassle of listing your property, communicating with potential buyers, showing the property etc. Everything will be taken care of by our professional staff, who will try their best to get you the best deal possible.

A possible solution to the cost problem

In this blog, so far we have talked about some negative trends and how it is getting difficult each day to buy a house due to the increasing prices. What if we provide you with a solution? If you buy a house on lease, you will have to pay whatever the fixed amount is each month. Similarly, if you put a house up for rent, you will earn a certain sum of money each month and it will start a constant revenue stream for you, considering your house is on rent all year long. What if we combine both of the things to create a solution to our problem? See, our problem here is the in availability of cash each month, but if you lease a house and put it on rent right after leasing it, you can technically get a house for free. That statement is only true if your rent covers the amount of the installment you have to pay. So let me re phrase my statement. Even if your rent does not cover the full installment, it can cover a major portion of it. So after a few years, or whenever your lease ends, you can get the house without having to pay the huge sums of money. That will be your hard asset, which you can later flip for profit or keep for personal use. Either way, it is a win win situation for you as it does not require large sums of money from you. Interested in this strategy? Bodla Group provides a long list of services. We try our best to provide the best quality and value to our customers. We believe in quality work and more value for the customers. Apart from Bodla homes that are being graciously welcomed in the market, DHA Villas in DHA Multan and the renovation of houses at Shah Rukn e Alam and Sehar Villas have been some of our major projects. All of these have been possible because of our firm resolve and commitment to providing the best quality to the people.

The renovation of houses done by Bodla Group only proves the diversity of our company. This also puts forward an opportunity for those who wish to get the feel of a new house but cannot afford one in these difficult times. Bodla Group provides excellent renovation services that will not only freshen up your house but will also give you the feel of a brand-new house. You can also avail the renovating services of Bodla Group to freshen up a relatively old house and sell the newly renovated and brand-new looking house for profit. All of these things account as to why you should buy a house in 2022 and how you can use that to your advantage.

How can Bodla Group help?

In these hard financial times when the rupee devaluation has caused it so difficult for people to make ends meet, buying a house can be a very hard thing to do for so many people. We understand the financial situation, that is why we are trying our best to provide the best prices to our customers. We believe in excellence, that is why our projects such as the DHA Multan houses, renovation of homes and the construction of roads speak for their quality. In such hard times, we provide affordable housing in prime locations of Multan such as DHA Multan phase 5. Bodla Homes are also a prime example of the quality of work we provide.

Apart from DHA Multan. Bodla Group also has projects in other housing societies such as Askari 3, Dham and Gulshan e Sardar, Multan. All of these projects not only prove the versatility of Bodla Group but also the ability to get the job done. Bodla Group also develops new homes exactly according to your style and needs. No need to go back and forth with contractors that only push timelines forward and perform poor quality work when you can get highly quality work from Bodla Group. So, what are you waiting for? Book the house of your dreams before it gets any more expensive.