Do you own a piece of land? Many of us have been questioned about owning land or any property from time to time, at different points in our life. In India, elders always advise their children to invest in a piece of land, if they have saved some money. This is because, land never fails to meet your expectations. Though apartments have stolen the limelight, the humble PLOT (a piece of land) has never lost its sheen. Land or plots always give you higher returns, especially if you invest in premium residential ones in an area with good infrastructure. These investments never fail to be excellent money-saving ones.
Now, you might wonder if buying land is a good investment now. The answer is a big YES! S&P builders opine that 2023 will see the most traction for real estate buyers. Plots have always suited investors who wanted good return on investment. Even villagers have pieces of land that they can call their own.
What are the aspects to consider before you go in for such an investment? First and foremost, you will have to know how much you want to invest. Once you have fixed the budget, it is important to know the returns that can be obtained after the deal. Here is where the kind of land matters. Plots can be commercial, residential, or agricultural. Similarly, sellers can also be the government, private developers, or an individual. Apart from these, there are a lot of parameters to before taking the big leap.
What are the aspects that motivate people to go in for land investments, especially in premium residential areas? Appreciation of land rate, less property tax, and flexibility are some of the benefits.
Buying a plot does not involve as much money as buying an apartment or a ready-to-move-in-house. Therefore, it is a comparatively better option for good capital investment for low-budget propositions. Also, if your plot is in a premium area with good infrastructure, there is a high chance of very good returns from it, with the progress of time. In other words, it is an excellent money-saving investment with guaranteed high returns later.
Now, comes the most important factor - flexibility. You might be someone living in the city but want to buy a plot away from the maddening crowd. Either you can keep it as such or build the weekend home of your choice. In this case, the layout choice is yours, unlike an apartment where the builder has the final say. Where you build what is also your choice, so is the garden and so will any other facility. Also, you can use it as per your convenience and need not wait for the builder to give you possession.
In some cases, you can also add a commercial purpose to your property and at the same time build a residential one adjacent to it and still enjoy your land. All these are not possible in the case of apartments. Despite all this, if you have enjoyed the property and are bored of it after a few years, it can be sold off. The sale can be faster in the case of land than an apartment as people prefer it for the same reasons you bought it. Remember, the returns are much, much higher than an apartment which will have depreciation as a factor.
Whether you buy or sell never forget to keep the following points in mind:
Now that you have heard enough, what are you waiting for? Start your investments now. Making your money work for you and generating more is best and reality is the best option for it. Residential plot investing is best for investors of all ages.
