Buying property in Nepal is every Nepalese dream.Land escape of real estate is growing like in any other country. Wondering how to buy property in Nepal? We all know real estate industry is gigantic in Nepal. To buy property which actually is a milestone for many of us can easily become an exhausting experience. If you don’t keep certain key points in mind. If you are one who is planning to invest in Real Estate in Nepal. We understand how overwhelming it can be when you want to buy a property but have no idea where, to begin with. Thus, We have prepared ten tips for the first-time buyer to remember before you buy property in Nepal.
1. Determine your investment in a first phase:
It’s absolutely funny how people just directly jump into which property to buy? Even before they decide, what kind of investment they want to make. First, ask yourself what kind of amount are you looking to invest if it is Commercial Property ( Generating revenue) and also if it’s personal use. A wise man once said Landlords grow rich in a sleep but that’s only if he makes the right amount of Investment.
2. Identify your purpose:
You need to bear in mind before investing in property, If you are buying for Commercial purpose or for personal use? Buying property for commercial purpose is different than residential.
Residential Building / Property:
If you are looking to buy a house for your family try builders who build Colony, Apartments, Villa, housing or area that has a peaceful neighborhood with facilities and access. Well, Good thing about housing complex, you know your neighborhood will be from a similar background. It actually saves your lot of research and time. Just find out if builders and company are trustworthy or not and visit their launch program. Chances are you will get to know everything that you want to.
Commercial Building/ Property:
For a Commercial purpose, You need to look at the amount as a pure investment. In such scenario, best is to keep your eyes, ears wide open and acknowledge if you see anybody selling their property in undervaluing price. That’s not the only and viable solution though. Try investing in areas which are upcoming. Like one close to hospitals, Schools, Airports, Market, highways or one with the development plan. One which can be a tourist attraction is something great to invest it.
A location is everything when you are planning to buy a new property. To have an exact knowledge of where you want to invest is a good in real estate. Location plays an important role in securing your investment.
4. Services you would like to have around your area:
Doesn’t matter if it is commercial or for a personal purpose you would want to make sure certain kind of services to have while you make your purchase decision. Eg: If it’s a commercial property you want to have public transport access facility close by, restaurants & eateries close by. Similarly, for residential you want schools, department stores, Grocery store and friendly neighborhood with good access to hospital and transport.
Vaastu considered the interplay of various forces of nature involving the five elements of an earth, water, wind, fire and ether and strives to maintain equilibrium as these elements influence, guide and change the living styles of not only human beings but every living being on earth. Thus, they influence our deeds, luck, behavior and other basics of life. Vaastu is a key point you would want to keep in mind if you are buying property in Nepal.
6. Local development project
Well, If you are looking to buy house/property local development is something you need to keep in mind, You can easily determine your neighborhood if any new projects being surpassed. That can make and break your investment in a long term. Any place that has government / private sector interest in terms of planning and investment can be a hot cake as the neighborhood also can lead you to setback your investment. A lot of time it will grow real quick with increasing flow of people.
7. Age of your property:
Age of your property can determine it’s current value. Whether the property has 12*12 pillar system or 9*9 Pillar system can also make a difference.
A neighborhood can be quite an interesting factor if you are looking to buy a property in Nepal. You can find a lot of traditional old settlement as well as new extended part of a city with diverse background from different ethnicity, religion and immigrants.