Uncovering Hidden Costs in Property Transactions in Lahore

Buying property in Lahore is a major investment, but many buyers underestimate the additional expenses that come with it. Beyond the advertised price, several hidden costs can significantly impact your total expenditure. Understanding these costs is crucial for making informed decisions and avoiding financial strain.
One of the major hidden expenses is stamp duty and registration fees, which are mandatory payments to the government when transferring property ownership. Depending on the property's value, these fees can be substantial. Additionally, society transfer charges are often applicable, especially in private housing societies like DHA, Bahria Town, or LDA-approved schemes.
Real estate agent commissions also add to the cost. While negotiable, agents typically charge 1–2% of the property's value. Legal fees for documentation, verification, and contract drafting are often overlooked but essential to ensure a secure transaction.
Utility connection or transfer fees for electricity, water, and gas can also arise, particularly when purchasing newly built or pre-owned homes. For those planning renovations, unexpected repair costs may surface during inspections. There may also be property tax adjustments to settle with the previous owner.
Lack of awareness of these hidden costs can lead to budget overruns and financial stress. To avoid surprises, it's recommended to work with a trustworthy real estate consultant, conduct thorough due diligence, and factor in all potential costs before finalizing any property deal in Lahore.