Flat or Plot- What Should You Opt for?
When it comes to investment, people often go confused and end up doing things which they shouldn’t have done perhaps. When the constant growth in real estate market has propelled every investor to put in money into their preferred spheres, they are also torn in dilemma- what to opt for, a flat or a plot? While buying an apartment leaves one with an end number of prospects, purchasing a piece of land also brings forth immense panorama. But, when a plot gives the buyer the choice of moulding his/her own requirements, a flat, in contrast, restricts your choice providing you with limited options. A plot can always be tailored according to the needs of the buyers, when a flat, once purchased, can never be altered in terms of size, shape and construction area. However, this post is going to be a big help to you, as it presents a number of ideas and suggestions as to which orb to invest money in.
Before investing in a particular area and utilize your hard-earned money, you should always look into a plethora of factors to ensure you are putting money in the right bubble.
Appreciation in value — Compared to apartments or flats, a piece of land is always expected to amplify its value very quickly. On the other hand, a flat or an apartment happens to inflate in a slower rate.
Quality of the construction- Once you buy a plot, you get every right to monitor over it while constructing a building and thus, there always remains a high chance for the structure to be of the best quality. Then again, for the apartments, the builders seem to go for several settlements in order to trim down the cost.
Extra profit- A land or plot can never give you an option for extra earnings until it is sold to some good hand. On the contrary, a flat can always provide you with a fixed monthly income if you put it on rent.
Expediency- Nevertheless, when it comes to convenience, buying a flat is somehow more beneficial than that of purchasing a plot. As a land owner, when you need to involve yourself at every move right from hiring professionals to taking care of the building infrastructure, buying a flat, on the other hand, would only make you take care of the interior, as rest of the things are taken care of by the builders.
Safety- A flat is always free of incursion or encroachment risks, while a plot can be infringed upon any time, in case it’s located in some emergent or undeveloped place.
For working professionals and people who have less time on their hands can also invest in apartments by top builders. Who bring in international teams for their project and such projects are good for investments. These top notch projects give good returns on your investment equivalent to land. Top projects like Lodha Solitaire on Napean Sea Road in Mumbai, Brahma F Residences in Kalyani Nagar, Pune and Kristal Garden in Kolkata have always proven to given good returns on investments.
To conclude, to choose the best option of investment for you, you should always be sure about your requirements at the first place. Also, one should always consider both the pros and cons of investments before taking a single stride. In case, the buyer is interested in using the property for personal use, a land can always offer the benefits of appreciation. But, in case, the investor is up with such plan to sell the house in a short period, buying a flat other than a land would be more gainful for you. Especially, if you are one of them who can’t devote much time for the property, buying a home over a plot will again be more prudent.
Author’s Bio- Anil Patil is a renowned author having sound knowledge about Pune Real Estate. His profound awareness of the field has made him pen forth such an informative content on the above topic.