–Property Size to Expect
–Areas with Low-cost Houses for sale in Karachi
–Expected Price Range
–Affordable Home Loan Scheme
Searching for low-cost houses for sale in Karachi? You’ve come to the right place. This blog has all the information you need to start off your property hunt on the right foot.
A majority of people prefer owning a house instead of renting one as it saves them from monthly rental expenditures. Plus, the property value in a vibrant city like Karachi has been skyrocketing in recent years, allowing property owners to enjoy unprecedented profits while multiplying their rental incomes.
In this blog, we’ll help you buy a decent home for your family in Karachi under PKR 50 lakh. So, without further ado, let’s begin!
How to Hunt for Low-cost Houses for Sale in Karachi
Here are a few important things you need before you start looking for low-priced houses for sale in Karachi
What Property Size Should You Be Looking for?
As you know, property prices have skyrocketed over the past few years in Karachi so a budget of PKR 50 lakh would only leave you with a few good property options. In such a limited budget, you may easily find 125 sq yd (5 marla) houses or even smaller properties. But, anything larger than that would probably have a higher price tag.
Even a 125 sq yd house is cleverly planned these days, which will have ample space for you and your family to enjoy a comfortable life. Also, some societies in Karachi may also allow you to construct upper storeys if you are falling short on space. It is important to note here that properties near the city centre are extraordinarily expensive, which means you can only find affordable houses in Karachi in the suburbs and far-off areas. To learn more about the best 5 marla house plans, read this blog.
Where to Search for Low-priced Houses for Sale in Karachi?
If living in suburbs is not a big issue for you, then you can check out newly-developed suburban residential complexes available in Scheme 33, Surjani Town, Bahria Town and DHA City to look for houses for sale in Karachi under PKR 50 lakh.
As you can see in the picture above, low-priced houses available in these far-off societies in Karachi are very well-constructed. Most of these residential units are small-sized villas, offering you all the luxuries of a modern-day lifestyle.
Expected Asking Price for Cheap Houses in Karachi
According to Zameen.com, buying affordable houses in Karachi could cost you as low as PKR 25 lakh. Surprising, isn’t it? Well, if you are buying such a low-priced home in Karachi, prepare your mind to make some compromises. For example, the house may have a hard-to-reach location, it may be a part of a squatter settlement/under-development society or it may be old or in bad shape.
On the other hand, as discussed, with a budget of around PKR 50 lakh, you can buy a well-constructed or newly-built home in many different suburban housing schemes like Bahria Town and DHA City Karachi. The price of a property depends on its size, specs and surroundings.
Low-Priced Homes On Instalment in Karachi
While looking for low-cost houses for sale in Karachi, you may also spot some residential units offered in instalments. If a lump sum upfront payment doesn’t suit your budget, you can explore these options. However, bear in mind that possession of such properties is handed over only after paying 50-70% of the total price.
Take Advantage of Government’s Markup Subsidy Scheme
With plenty of low-cost housing options and home financing schemes available, it has become easier than ever for you to go for property investment in Karachi. Even if you are short on cash to make full payments, you can apply for the ‘Apna Ghar Sasta Karz’ scheme, which was recently introduced by the government of Pakistan.
The State Bank of Pakistan has partnered with many commercial banks to successfully launch this scheme nationwide. It is also known as the ‘Mera Pakistan Mera Ghar’ scheme. You can easily get in touch with your nearest bank branch if you are interested in applying for this scheme.
We hope after reading this post, it will be easier for you to look for low-priced houses for sale in Karachi and make a smart investment choice, according to your budget and requirements. If you have any questions or feedback regarding real estate investment in Karachi, drop us an email at blog@zameen.com. We’d be more than happy to assist you with your concerns.
On a side note, you may also like to take a look at our detailed real estate investment guide on the most popular areas with houses for sale in Karachi.
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