The stages of building your house

It's decided you will build a new house, or in any case, you are seriously thinking about it! Discover here the stages of building a house and how to know everything to build well: from obtaining financing to moving into your new home, including the choice of land, materials, or the planning of the site.

Define the budget for your construction

Before you start, you should establish your budget, taking into account the main items' price.

The land price can vary greatly depending on its location, as for that of the house, it is to be defined precisely with your project manager. If you go for self-build, you will have to establish it yourself.

Don't forget to add the inevitable additional costs, which can be quite significant! Among them are the costs associated with your loan, such as administrative fees and interest, which are to be negotiated with your bank. But also the costs related to the land and the house: notary fees, servicing and connection to networks, soil study in case of doubts, property damage insurance, exterior fittings, local tax. Equipment and connection to the sewer, etc. The town planning department of your municipality can provide you with precise information.

Choosing the right bank

Your budget is defined; it's time to set up a mortgage. Here are some tips for finding the bank that will give you the best offer!

You have the option of choosing a so-called generalist or deposit bank. This will ask you to create an account to deposit your income. Its interest is to retain you since you will have to repay them a loan that will run over 10, 20, or even 30 years. These banks often have better rates because they rely on their customers' loyalty, to whom they sell peripheral products (insurance, child accounts, etc.).

With a bank specializing in mortgage loans, you will have a little easier to borrow, you will not need to transfer your accounts to another bank, and this one will be better able to advise you on the various arrangements. In return, the loan could be at a higher and variable rate. Get your luxury apartments in Lahore and enjoy your life.

Check the financial aid

Don't forget to check if you are entitled to the various aids!

·         The zero-rate loan allows you to borrow without paying back interest. It is granted according to income, the composition of the household, and the geographical area.

·         The home savings loan concerns holders of a savings plan for more than four years. Or home savings account for more than 18 months.

·         The housing action loan is financial assistance available to a private company with more than ten people, subject to its agreement.

·         Depending on the facilities you choose, you may be entitled to financial subsidies for an "ecological bonus". Zero rate loan, reduced VAT, exemption from property tax. Likewise, you may be eligible for local financial aid.

Estimate the price of the land

The price of the land often constitutes almost a third of the total amount of the budget. It varies depending on the region, the proximity of a city and amenities, or even a tourist area. Also, consider its surface, if it has been serviced or not, if it has specific features that could influence the construction price that will take place there, if it is well exposed, etc.

 

Before purchasing, check whether the agency fees are included and calculate the notary fees and connection to the networks if necessary.

It is according to the land price and the various works still to be carried out that you will know what budget you can grant to your house and thus define its surface and its level of finish.

account the specificities of the field

Before buying land, it is necessary to understand its specificities. Indeed, they will have consequences on the construction of the house and could lead to additional work. They can therefore allow you to negotiate the price of the land.

Estimate the cost of servicing and connections

If you decide to buy from a real estate developer or a developer, the latter must make the land viable. This means bringing the different networks to the plot's edge: roads, electricity, gas, water, sanitation, telephone. In other cases, the servicing of the land is not guaranteed. It is, however, necessary to envisage a construction.

One of the first steps is to ask the town hall for the PLU (local town planning plan) and a CU (town planning certificate). These will give you valuable information on the ground. Among them: constructability, servicing, possible easements, reserves on the land, architectural prescriptions, the coefficient of land use, taxes, etc, union complex is the best option for Luxury Lifestyle Apartments.

These procedures are completely free. They will allow you to verify that the land corresponds to your project. You can also estimate the budget allocated to service, depending on the distance between the plot's boundaries and the equipment to be connected.