Want to construct your dream home on a fixed budget? Mashriq99 is here to help make your dreams come true!
In this blog, we will cover a few of the most asked questions like,
- What is better, buying a home or renting it?
- What is better, buying an existing home or constructing a new one?
- What is the construction cost of a 5 Marla house in Lahore 2022?
If you are tired of searching these questions all over the internet, sit back and relax. We have got you all covered!
What Is Better, Buying A House Or Renting It?
There comes a time when we all think to ourselves, should I rent a house or buy one? This question is becoming more complicated with each passing day. People who have rented houses are struggling to construct their own places while housing owners think it is better to rent a house to avoid taxes, maintenance costs, and tons of other things.
Is Renting A House Worth Your Money?
Renting or buying a house, both have financial advantages. If you are thinking of renting a house or an apartment, you would be relieved to know that you are not obliged to pay any sort of maintenance or repair costs nor would you have to pay taxes. If an appliance stops working or anything gets broken, simply call your landlord and they will get it fixed for you. Cool, right?
All of the amenities are generally free for renters. All the luxuries and amenities that come with a house can cost you a fortune. But lucky for you, all you would have to do is pay the monthly rent and a security deposit in the beginning for only once. And that is pretty much it. You don’t have to worry about anything except for keeping the property in good condition.
Is Buying A House Worth Your Money?
Buying a house is a goal for some people and it should be. Many people believe that success is getting a degree, a nice job, building your own house, and buying a car. If you have these things, you have everything! And we think it’s very true.
Renting might be a good option but does it promise you a permanent residence? Certainly not! It is very important to have your own house where you can grow as a family, make memories, and live without your landlord’s never-ending interruptions.
What Mashriq99 Thinks Is A Better Option!
Money is the most important factor which will help you decide whether you want to buy a house or rent it. Renting a house can be a good option if you want less responsibility and more flexibility. But if you think it’s time to finally settle down, start your family, or grow your business, you should definitely consider buying a house. A house can be your lifetime investment.
We know that property prices tend to rise over time. The value of your house will increase and can help you earn huge profits in the future. Plus, your house is your asset. We will suggest you invest in your dream house as it will give you a sense of security as well as stability.
What Is Better, Buying An Existing Home Or Constructing A New One?
All of us wish to own a living space that meets all of our requirements and preferences. This is one of the big reasons why people are more interested in constructing their houses rather than buying pre-built units.
Buying a house requires millions of rupees. Even a 3 Marla house can cost you up to 50 to 60 lacs easily. For this purpose, banks have introduced several home financing schemes. You only need to apply for a loan once if you are buying an existing house.
However, if you are willing to construct a new one, you would have to request two loans. First, you need to purchase the plot, and then start constructing it.
If we compare the cost of buying a house versus constructing it, it is important to know that the total amount needed for construction can be 20 to 25% less than purchasing an existing house. Wanna know why? Click Here.
So, what will you choose? Convenience or customization?
Mashriq99’s Advice For Its Readers
The newer the property, the greater will be its value. If you own a newly built house, there are great chances that you might sell it for much more money in the future. If you are willing to make a long-term investment too, you might want to take this factor into consideration.
We will highly recommend that you construct the home of your dreams. You can design it however you want. You can construct it according to your desired standards and save a good amount of money.
What Is The Construction Cost Of A 5 Marla House In Lahore 2022?
A 5 Marla House is perfect for a small family as well as for those who want to build their property on a comparatively low budget. It is one of the reasons why 5 marla plots for sale in Lahore and 5 marla houses are so much in demand. If you are planning to construct a 5 Marla House in Lahore with no prior experience, mashriq99 is here to help you.
Total Area Of A 5 Marla Plot
The total area of a 5 Marla Plot is 1,975 sq. ft. If you want to construct a double-story house, then the ground floor will cover about 910 square feet while the first floor will cover an area of up to 890 square feet.
You can easily build 3 bedrooms with attached bathrooms, a drawing-room on the ground floor, a TV lounge on the first floor, a beautiful and spacious balcony, a kitchen, and a garage that may have the parking capacity of one 800cc car and a bike.
Total Cost Of A 5 Marla Plot For Sale In Lahore
The rate of plots varies from society to society. To find the best plot on easy terms, click here. You can visit our website to find the plot that fits into your budget and contact us so we can book your unit right away. You can contact us at
Grey Structure Construction Cost Of A 5 Marla House In Lahore 2022
The current price rate of a brick is 12 rupees. For the construction of a 5 marla house, you will need about 53,000 bricks which rounds up to 6,36,000 PKR. You need cement, bajri, kassu, rebar, sand, safety grills, aluminum, and wood to start building your house from scratch.
Apart from this, there are tons of other elements needed to construct the grey structure of your house. You need to pay for plumbing, complete underground electrification, and the installation of the main gate as they are part of the grey structure.
An estimated cost for house plumbing is 1,20,000 PKR under which all the sanitary work on bathrooms, kitchens, laundry area, etc. shall be done. However, within 60 to 70 thousand PKR, all of the electrification can be carried out.
After consulting with many construction companies and builders, we are here with an estimated construction cost for the grey structure which lies between 30 to 40 lacs depending upon the quality of material you use (labor cost included).
Click Here to check out the detailed plan for the Grey Structure Construction Cost Of A 5 Marla House.
5 Marla House – Finishing And Material Cost
Once the grey structure is built, you need to take care of the finishing of the entire house which includes flooring, paint, ceilings, woodwork, kitchen and bathroom accessories, stair railings, switchboards, mirrors, doors, everything!
Seems like a lot of work? Absolutely not, but you are so close to fulfilling your dream. So, don’t lose hope and break a leg!
You can see the approximate cost of the final finishing of your house down below. Remember, that the prices mentioned below are estimated costs because it totally depends on the quality of material you go for.
Flooring Tiles
Total Cost To Cover The Entire Floors – 7 to 8 lacs
(This cost will cover the entire floor of a double story house, staircase marbling, kitchen shelves, as well as the labor cost.)
Paint
Total Cost To Cover The Entire House – 3 to 3.5 lacs
(This cost will cover painting the entire house including the labor cost.)
Roof Ceilings
Total Cost To Cover The Ceilings – 1 to 1.2 lacs
(This cost will cover the entire ceiling of a 5 Marla double story house.)
Kitchen Accessories
Total Cost For Kitchen Accessories – 60,000 PKR to 70,000 PKR
(This cost will cover two kitchen hoods, kitchen sinks, and taps of your house.)
Bathroom Accessories
Total Cost For Bathroom Accessories – 1.5 to 2 lacs
(This cost will cover all the bathroom accessories for the 3 attached bathrooms including commodes, bath hangings, vanity sets, bath sets, and more.)
Electrical Components
Total Cost To Cover The Electrical Components – 2.5 to 3 lacs
(This cost will cover all the electrical components of a double story 5 marla house. From switchboards to lights and fans, it includes everything.)
Stair Railings
Total Cost To Cover The Stair Railings – 75,000 PKR to 85,000 PKR
(This cost will cover the staircase railings of the entire house.)
Windows And Doors
Total Cost To Cover Windows & Mirrors – 1.5 to 2.5 lacs
(This cost will cover aluminum and glass windows of the entire house along with mirrors.)
Total Finishing Cost Of The Entire 5 Marla House – 18 to 25 lacs
In this blog, we have tried to cover every detail you needed to know before constructing your house. We have tried to clear all of our readers’ queries. But if you still have some of your questions unanswered, feel free to contact us at
042-3546-7199
0300-0472-472
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Eman has been actively writing about the real-estate market in Pakistan since 2019. She is most interested in researching and writing about the latest trends in the real estate market that help her readers make informed decisions.
