With the growing pace of life, home buying is on a rise throughout the country. All over India, ingenious projects are being developed to satiate the aspiration of many Indians of owning a home. As it is a once in a lifetime event, people are considering various options in the housing premise. Where unique flats with modern amenities are being offered at large, buying a plot comes with the ease of customization and other aspects to suit the different needs of people. When such is the case, understanding vital insights of both sides is important and for the same, here are key touchpoints that would help you.
Buying an apartment
An apartment is an entity created for a general sale. It’s kind of a product developed or built for mass consumption. The specifications are decided by the developer of the property which might or might not suit all the needs at once. Where many developers have started considering Vaastu essentials before erecting towers, some might overlook and offer you a flat which might not be Vaastu or Feng Shui compliant. There are chances of rooms being extra small or huge in size without offering you the liberty to customize them as per your requirement. At times, a buyer of the apartment may be deprived of the freedom to change the shape and size of the construction area. Now let’s look at some of the reasons why one should own land or a plot.
Buying a plot
Buying a plot can happen in two different ways – buying it to build a house or as an investment. Buying a plot gives a free hand to the buyer for developing the property according to their own choice. Where complete customization from the scratch enhances the value of buying a plot, constant monitoring for development can prove to be a task. However, the freedom to do anything with the plot stands the choice of the buyer. This in turn gives ‘buying a plot’ an upper hand in comparison to buying a flat. Buying a plot as an investment can also be very beneficial. With time as the property rates surge, having a good resale value of the plot can be a profit-making deal. Hence buying a plot has its own advantages in comparison to buying a flat. However, there is more to this for considering the resale of a property and hence understanding the topic in depth is essential.
Resale Value
Most people prefer buying a plot after comparing the resale value for a plot versus a flat. Again, buying a plot gives a freehand to the next buyer by utilizing the existing home or by building a new one according to their own will. With the increasing cost of construction and escalating land value, there are many buyers for buying independent houses. The value of the plot built home is also more due to direct correlation with the amenities within the house and accessibility around it. After comparison and research, it has been noticed that houses have a higher resale value than flats because the buyer gains possession of the land, as well as the house, has been constructed.
At TMR, we understand your needs and then suggest the right kind of property that would complement your aspirations. Hyderabad – rising as one of the flourishing cities of India has many advantages. Starting from climate, geographical location, connectivity, and more have made Hyderabad one of the cities to look up to. Owning a plot here to build a home or as an investment is surely going to make you land on the profit side.