Karachi is a busy metropolis in Pakistan. It offers various residential and commercial properties for sale. Among the residential properties, buying a portion of a house has become popular in Karachi. Karachi RealStateShop is growing, and many people are now opting to buy or rent portions of houses rather than investing in full houses or apartments. Whether you are looking for an upper or a lower portion for rent in Karachi or want to check the advantages and disadvantages of buying a portion of a house, this article will guide you through its pros and cons.
Pros of Buying a Portion of a House:
1. Affordability:
One of the pros of buying a portion of a house is affordability. Around 40% of Karachi’s population belongs to the middle class, and the price of properties in Karachi is very high; therefore, many middle-class people can not afford to buy an entire house, especially in prime locations. Buyers can enjoy the benefits of owning property at a lower cost than buying an independent house by purchasing a lower or upper portion for sale in Karachi. Therefore, buying portions is the best option for middle-class families looking to invest in Karachi’s real estate market without burning their savings.
2. Neighbourhood:
Living in a separate house can isolate you from your neighbors, and you may not be able to build strong relationships with them. However, living in a portion system helps you create a beautiful community. It is the best setting for outgoing people who actively socialize and communicate with the people around them.
3. Easier Maintenance
If you own a portion of a house, you must aware that it automatically lower maintenance costs because the owner of a single portion (such as the owner of the first floor of the house in Karachi) is usually responsible for maintaining that specific floor or area. Instead, the owner of the entire house who has to manage the expense of maintaining the entire property, which reduces the burden of expenses related to cleaning, repairs, and renovations, that makes it easier for homeowners to maintain their portions.
4. Shared Amenities
When you buy a portion of a house, you often get access to shared amenities such as water supply, electricity, and security services, which can be a cost-saving benefit as the total expenses are divided among the portion owners. Sharing utility bills and other amenities can help you reduce the financial load.
Cons of Buying a Portion of a House in Karachi
1. Limited Ownership
One of the main disadvantages of buying a portion of a house is the limited ownership rights. While you may own the specific portion but you do not own the entire building. This can lead to potential conflicts or disagreements with other portion owners, especially regarding shared spaces or responsibilities like the roof, parking area, or water tank maintenance. Partly, ownership can sometimes feel restrictive compared to buying a house in Karachi with full control over the property.
2. Shared Utility Responsibilities
Like shared amenities, you also have to share utility responsibilities, which can be a financial con because sharing utility responsibilities sometimes leads to injustice. For instance, a smaller family lives in the upper portion and uses less utility than a lower portion family, which has larger household members and probably uses more utilities and energy resources. This might cause a dispute between portion owners as it causes an extra burden of monthly expenditures.
3. Privacy Concerns
Privacy can be an issue if you live on the third floor of the house, particularly in a building with multiple floors. If you are an introvert who doesn’t like socializing, living in close proximity to other families or individuals on different floors can cause you discomfort, noise disturbances, and a lack of personal space. While the available portions for sale in Karachi may offer some benefits, such as shared entrances, staircases, and outdoor spaces, they can reduce the sense of privacy.
4. Car Parking and Common Area Issues
In many cases, common areas, including car parking spaces, can cause regular conflict and disputes. For instance, if you buy the ground floor of a house in Karachi, you have easier access to the parking space than those living on the third floor of the house. However, disputes may arise regarding parking allocation, and some portions may not have car parking spaces. The management of common areas like gardens, corridors, or terraces can also cause quarrels and disputes between the portion owners.
Is Buying a Portion of a House in Karachi Worth It?
Buying a portion of a house in Karachi has advantages and disadvantages. For many, the affordability makes it the best option, especially in a city where property prices are growing. Portions are an excellent choice for small families, professionals, or investors looking for lower investments and manageable maintenance costs. However, the downsides, such as limited ownership, shared responsibilities, and privacy concerns, can be deal breakers for some buyers.
Ultimately, the decision to buy a portion of a house depends on your personal preferences, financial situation, and lifestyle needs. If you are looking for a property with lower costs and are comfortable with shared living, then an upper or lower portion for sale in Karachi might be a great fit for you. However, if privacy and complete ownership are your priorities, you may want to consider purchasing a house or exploring other options in the Karachi real estate market.
Whatever your choice, it is important to weigh the pros and cons carefully before making a decision. You can consult with real estate professionals to understand the market trends and make a valuable investment.
Conclusion
In conclusion, buying a portion of a house in Karachi has both its benefits and drawbacks. It is the best option for those looking for affordable housing, especially in a city with high property prices. Sharing costs for things like maintenance and utilities can make owning a portion more manageable for middle-class families. Also, the sense of community and smaller investment make it suitable option.
However, there are some challenges, too, like limited ownership, privacy concerns, and potential disagreements over shared spaces like parking or utilities. If you are okay with these compromises and prefer a more budget-friendly option, then buying a portion of a house can be a good choice for you.
