If you’re someone who’s been planning to invest in real estate, you must’ve pondered long and hard over whether to buy a plot or an apartment. While buying an apartment could be an obvious choice for many, the cons outweigh the pros in this case. Buying an apartment comes with associated risks that outnumber the risks undertaken when investing in land. So, if you are a potential property investor before you make up your mind, look at 5 reasons why investing in a plot is a better and wiser option:
For most of us, owning a property is one of life’s biggest dreams. The average Indian has to save for several years before they can afford even the down payment. Plot investment in Bangalore is a far more achievable milestone than buying an apartment as it is a relatively more affordable investment. Besides, the property tax that one has to pay for buying an investment property is lower when compared to buying an apartment. Another factor that makes investing in a plot in bangalore more affordable than an apartment in the absence of maintenance expenses.
2) Value Appreciation:
Plot is always in demand owing to its zero depreciation. Therefore, the value of a plot appreciates constantly, as opposed to that of a constructed property that undergoes appreciation during the first few years. Given that the infrastructure and planning around your chosen investment property is in place, the plot price is likely to shoot up faster and higher than a residential / housing property in the long term. For someone buying real estate purely for the purpose of investment, purchasing a plot makes perfect sense as it offers the better return on investment.
Even if you aren’t buying real estate for the sole purpose of investment and are looking to build your dream home, purchasing a plot gives you a lot of flexibility. You will have the advantage of designing and constructing your dream home based on your requirement as well as affordability. For example, you can’t up to the number of rooms in an apartment whereas you have the freedom to do so with a plot (subject to acquiring requisite permits and sanctions).
One can be assured of the safety of their plot, even In the face of natural calamities such as flood and earthquakes. Whereas, with apartments, one has to be concerned about the collateral damage in the aftermath of a calamity. Another common problem in the case of apartments is developers delaying possession. But with a plot, there is no such delay.
5) Great Long-Term Returns:
When real estate investing, apartments might yield good short-term returns, plots can fetch you great long-term returns. The value of an empty plot multiplies over the years, in contrast to a constructed property which depreciates with each passing year.
Having said that, it is advisable to think through one’s own requirement, financial situation, and goals before you start looking at plots for sale in Devanahalli Bangalore.