Lahore Real Estate Property Discussion Forum

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Sarah

Thursday, June 25, 2015 06:33 AM

Dear Mr. @CMY and Mr.@Jameel. Regards. I wish to have your advice in my property purchasing decision. I have limited funds and will be investing all I have plus a large bank loan to purchase a house in DHA lahore. My budget is for:

1) purchasing a slightly used 5 marla house in phases 3-5 ( i don't prefer phase 6 as it is still not developed)
2) A 15-20 years old 10 marla house in dha phase 1 or 2 Lahore.

I obviously prefer a 10 Marla house due to its size, but it will be quite old, but renovated.I wanted to know what are the disadvantages of purchasing an old house including re-selling prospects as might want to resell it 5 years down the road.

Looking forward to your advice

Sarah

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Asif replied on Thursday, June 25, 2015 08:40 AM

What is the Budget?

Asif replied on Thursday, June 25, 2015 10:00 AM

Rasheed bhai....keeping money In bank and getting sood??
at least we shall not suggest it.

Hussain Kaisrani replied on Thursday, June 25, 2015 05:01 PM

@ Rasheed
Thanks a lot Rasheed Sahib for trying to make things clear. We are highly confused people and our statements are generally self contradictory. We live in capitalistic economy and want to avoid Sood.
What a dilemma?
It is not to start a discussion but to appreciate your clarity of thought brother.

imran replied on Thursday, June 25, 2015 06:15 PM

mortgages, car leases, mobile contracts, bank profit whether islamic ( most of the cases)or conventional are all sood and haram in islam, lets not leave any doubt about it.. if all people are using it intentionally or unintentionally should leave it.. credit cards if payment is made on time then bank doesnt charge any interest,, in that case its halal and only keep one if yu can clear payments on time... since living in capitalist economy, its difficult to avoid completely, one should try to avoid as much as possible.. like open only one islamic account and keep only minimum required amount and invest the savings in property or islamic mutual funds...no disrespect to anyone.. the intent is just to try and lead our lives according to Quran and sunnah as much as possible... JazakAllah

jameel replied on Thursday, June 25, 2015 06:31 PM

Phase 5 slightly used house will be in one cror
5 merla in Dha 3 and 4 , old 5 to 10 years will be about 80 to 85 lac
10 merla old housein phase 1 and 2, 15 to 20 years old good condition will be 110 to 140
To buy a house no matter old or new needs an experert opinion,
If you see any maitininance issues it is also needs expert opinio.
In old houses most of issues can be solved easily except low level and watercseepage from upper baths and kitchen better aviod them
All above 3 are good options
New houses also have many matnance issues within 2 years especially thekedar buit

Sarah replied on Friday, June 26, 2015 04:45 AM

Thank you @Jameel sb. Are the rates mentioned in your response as per the market since the market rates are at least 15 lac above what you have mentioned.
PPl are demanding 12.5 Million for 5 marla used in dha 4,5,6 and deals are done at 115.
Need to check that i'll not be spending more than the market rate.

chaudry replied on Friday, June 26, 2015 12:18 PM

5 marla corner house rented on 34 k per month available for sale demand 70 lacs,behind rehman villas,near bhatta chowk,contact mrschaudryathotmaildotcom

jameel replied on Saturday, June 27, 2015 05:34 PM

I will reconfirm these prices these are about one yearold and in last one year prices were not much changed. With some good search and bargin you should get these prices

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