There are certain factors that make a piece of property more difficult to sell, and among them is proximity to a busy highway, commercial area, power grids and railroads, etc.
Among these, being located near a commercial is what I’m going to talk about in this post and walk you through the pros and cons in detail.
For instance, are you a shopaholic? Or a foodie? Do you often find yourself yearning for easy access to Y Block, DHA Lahore (one of the most bustling commercial avenues in the city) because it would take just one short and convenient trip to get your clothes ready for a party or a family function? Do you have to overpay the rikshawala to get to Liberty Market because of the hopeless traffic jams on the way?
If you nodded your head in response to all these questions, then living next to or near a commercial area must have crossed your mind.
Just imagine, you’ll always be at the central area of your locality. You’ll have uninterrupted, quick and easy access to every shop that’s trending, every boutique and every restaurant that delivers scrumptious bites of heavenly food, at all times of the day.
Probably shouldn’t talk about food while I’m fasting, though. *Ominous stomach rumble*
Anyway, with a large number of services at your doorstep, easier free delivery options, proximity to main roads, hospitals, hotels, pharmacies, tailors, cinemas, living near commercial areas isn’t really that bad a deal.
Also, by residing in a commercial area, you’ll be making a huge statement in terms of your socio-economic status amongst fellow biraadri members. Smirk all you want, that stuff matters to a lot of people.
To top it all, your house would still possess good resale value. This, of course, depends on the exact location, but a home at a decent yet walkable distance from a large commercial centre is almost always going to be in demand and, therefore, prone to frequent upward revisions in price.
So, why not live near a commercial area? Let me show you the flip side of this deal.
With a house in a commercial area, you are likely to be stranded in unending car jams almost regularly. Going to work or school, or coming back to your home near iftar time, chances of untimely delays in your route are practically guaranteed.
And I won’t beat around the bush: the view is not pleasing. Buildings block your line of sight every 20 feet. There are no parks and power cutoffs are more frequent due to the large amount of energy taken up by commercial buildings. Even though gym facilities and pools might be close by, getting there becomes more of a hassle when you have to pass through a vivacious commercial area.
The cost of living is also relatively higher. Obviously, rates in a popular commercial locality are always high for utilities and other amenities. For example, you might find out that rental rates on MM Alam Road in Gulberg, Lahore are much higher than in the more pleasant areas of Gulberg, or a residential area like Model Town. Bear in mind that Model Town itself is an area known for high real estate values.
But the strongest factor working against the idea of living in commercial hub is noise pollution, which is a deal-breaker for many people. You will have to get used to waking up to the awful sound of steel shutters being slid up every day, and remain at the mercy of trucks, buses, cars and motorcycles impatiently honking away as they try to navigate their way out of a jam for the rest of the day – and night. Not a pretty picture, is it?
So my verdict is this: in spite of small inconveniences, living in purpose-built residential colonies is an incomparable experience in terms of peace of mind, livability and security. However, proximity to commercial areas – despite its share of problems – comes with some unbeatable facilities.