–Property Size to Expect
–Areas with Low-cost Houses for sale in Lahore
–Expected Price Range
–Apply for a Home Loan
Are you looking for an affordable home in Lahore, but don’t know how and where to find it? Don’t worry! We’re here to help.
Owing to the rapidly increasing real estate value, it has become quite challenging to come across budget-friendly property options. Homebuyers searching for low-cost investment opportunities in Lahore are now restricted to limited choices. Plus, locating them is another challenge. Being aware of this tricky situation, we have put together this real estate guide.
Here we’ll discuss some useful tips about searching for low-cost houses for sale in Lahore to help you save time and resources.
How to Hunt for Low-cost Houses for Sale in Lahore
Some things to keep in mind while looking for low-priced houses for sale in Lahore.
What Property Size Should You Be Looking for?
As discussed, property prices in Lahore have gone sky-high in recent years, which means investing in an affordable house, you may have to compromise on the size or the condition of the property.
As per the listings on Zameen.com, you can find up to 5 marla residential units that usually come with low price tags and are available in different parts of the city. Anything larger than that could go out of your budget and if you are lucky enough to find one, it may not be available in very good condition.
Even if you have purchased a small house, you can make some structural changes to it to add some more living space, however, it depends on the society you live in. Some societies in Lahore allow you to construct multiple upper stories on a ground floor.
Even to buy a low-priced house in Lahore, you need to have at least a budget of PKR 50 lakh, if you want to explore some decent and well-constructed property options.
Areas to Search for Low-priced Houses for Sale in Lahore
Despite the increasing trend of apartment living, the demand for housing units in the city is still soaring. Properties in some of the key and central areas of the metropolis are now more expensive than ever.
Also, there is a shortage of land for new developments as central parts of the city are already overcrowded. The property prices in the urban centres are sky-high. However, if you move away from the main city, you can spot plenty of empty lands, which are now being converted into new residential developments and ultramodern gated housing schemes.
Don’t forget to check out the surroundings of the following popular thoroughfares of Lahore for affordable home hunting.
- Ferozpur Road
- Raiwind Road
- Bedian Road
- Jallo Park Road
Connecting central Lahore with its suburbs, the above-listed roads are emerging hotspots of new property developments.
According to listings on Zameen.com, Babu Sabu, Edenabad, Sabzazar Scheme, Sham Nagar and SJ Garden are some housing developments where you can find old and newly constructed residential units at affordable prices.
Expected Price Range of Cheap Houses in Lahore
Affordable houses in Lahore start from as low as PKR 20 lakh. The price of a property goes up, depending on its size, specifications and location. While searching for low-cost houses for sale in Lahore, you may also come across some properties available on instalment. Generally, after paying 50-70% of the total price, you can get possession. The remaining amount can then be paid as monthly instalments.
Apply for a Home Loan to Increase Your Budget
To increase your budget, you can also apply for Mera Pakistan Mera Ghar. Click here to learn more about this affordable home loan scheme in Pakistan. You can also check out our detailed blog on commercial banks that offer home financing facilities.
If you have any questions or feedback about the blog, please email us at blog@zameen.com. We’d be more than happy to assist you with your concerns.
On a side note, don’t forget to check out our detailed blog on low-priced houses for sale in Karachi.
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