Reading time: 4 minutes, Category: Finance & Economics
Find the best flats for sale in Dhaka with BestBari, a leading BD property online marketplace and real estate company in Bangladesh.
Many first home buyers choose to buy a flat in Dhaka, before committing to a larger family home given the expensive prices and scarcity of houses for sale in Dhaka. Although Dhaka is getting more populated each and every day, there are still some apartment vacancies which is actually favourable for first home buyers looking to buy a flat in Dhaka, due to attractive prices and more choices available.
By purchasing your first flat, you are building an investment asset for the future with home you can live in or rent in Dhaka now. Your first flat purchase will likely be one of the biggest purchases you’ll make in a long time, so it is essential to do your research carefully and get the right advice before committing to a flat sale in Dhaka. Thanks to BestBari, we have published this article to help you get the right tips on buying your first property.
Research and planning
Purchasing an apartment is a huge commitment, so you want to make sure you’ve thought it through thoroughly. Your journey to buy a flat in Dhaka starts with careful research and planning.
The first step is to decide on what type of property you want and in what location. For example, how many bedrooms and bathrooms, what are your targeted suburbs and how many secure car parking spaces will you need? Once you get an idea of these specific requirements, research various Dhaka flats for sale in your desired locations and note the prices to set yourself a realistic budget.
Speak with your private bank about how much money they can lend you and you will get an idea of how much you should be able save for your first home deposit needed to purchase a property in Dhaka. When you know have a savings goals, it will motivate you to word towards achieving your ideal first property.
Start saving early
To help you achieve your savings goal required for your home deposit, maintain a strict monthly or weekly budget and set yourself a target of how much to deposit to a dedicated savings account for your home deposit.
Review your income and expenses regularly and find ways to cut your expenses. Consider setting up a sperate savings account with high-interest and arrange an automatic debit to transfer a part of your monthly salary to your savings account.
Contribute any spare cash to your savings account. For example, if you receive a bonus at work or some cash for your birthday, add it to your car savings account to help you achieve your property purchase. If you’re interested to learn more tips about saving for a flat in Dhaka, please read BestBari’s article using this link.
Monitor market conditions
Constantly research and monitor the Dhaka property market and be aware of price trends. Take note of the average apartment price movement in Dhaka. Also, keep an eye out on any significant changes in interest rates, tax rules and regulations. If interested in learning more about investing in the real-estate market in Bangladesh please read BestBari’s article on Why Invest Property in Bangladesh.
Location, location, location!
The location of your desired Dhaka flat for sale is probably the most significant factor that influences the price. For example, is the property in close proximity to good schools, shopping centres, cafes and restaurants and hospitals. Also consider the demographics and status of the suburb, for example are there mostly professionals, expatriates and retirees living there.
In addition, consider the accessibility to transport and commuter link to offices for essential for daily living and travelling to work. Some other factors can actually have a negative influence on property prices such as close proximity to power plants, homeless shelters and bars – so try and avoid these locations.
On behalf of BestBari, we hope you have found this article useful and found ways to help you find tips to buy a flat in Dhaka. Please visit our News and Reviews page for more useful articles like Easy ways increase the value of your Dhaka flat. We wish you the very best and hope you find your perfect flat for sale in Dhaka!
Find your dream flat for sale in Dhaka with BestBari, a leading BD property online marketplace and real estate company in Bangladesh.
