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Real Estate

Plot vs. Flat: What makes for a better investment option?

These days, plots or flats are the most general choice for new-age nuclear families. You can get plots and flats in every budget, and it is easy to maintain and come with a mass of facilities for every member of the family. The public culture of living in compact spaces has occupied over the residential market cities of India. However, still elderly people cherish the desire to buy a property and construct their dream house on it. Numerous significant features like the cost of building, financial assistance, appreciation, and income have to be measured before taking any major investment decision.

Buying a separate plot means an independent choice to construct a house according to one’s personal taste and budget. Therefore, the houses constructed are of different sizes and shapes, which look disorganized and don’t look attractive or exciting enough. On the other hand, a flat is a multi-floored, redesigned construction that gives certain standardization and equilibrium to the entire property and makes it visually pleasing. The property has sufficient space for designated areas and greenery moreover, various amenities available that make living in flats a pleasant experience.

Flats vs. Plots from an Investment Perspective

RESALE VALUE

Plots

When it comes to the resale value of a house, most people prefer to buy a plot and construct their dream home as opposed to buying an already built house. However, with the escalating land value and the increasing cost of construction, many people are referred to build independent houses as well.

Flats

In the case of flats, the price of the property increases as the demand for flats in that specific location sees a rising growth.

RATE OF RETURN

Plots

In the case of a sovereign house on a plot, the price of the land rises however, there usually is a devaluation in the value of the benefit due to wear and tear. Special attention should be paid towards construction quality, space planning, and quality of amenities as they act as conclusive factors for assessment.

Flats

Overall, the supply of separate homes is inferior compared to flats.

OPPORTUNITY COSTS

Plots

Building a house from scratch is quite a puzzling task. If one has a job, it’s very tough to physically supervise everything. The construction technology has changed a lot, due to the high cost it can’t be used for independent houses. There are huge chance costs involved where a person puts their life on hold to construct a home for their family.

Flats

On the other hand, flats have no such hassles. You can easily move in after getting ownership and decorate the place according to your taste and lifestyle without compromising on work.

FUNDS

Plots

As a buyer, you can increase sums of money to buy a plot, but the loan will be authorized only if the land has been approved by the local community authority. Basically, the bank allows 80% Loan-to-Value, but for resale land, only about 50% of Loan-to-Value is allowed. The loan contract period is a maximum of 15 years.

Flats

For flats, home loan buyers get a fund amount of nearly 80-85% and the loan contract period is a maximum of up to 30 years.

Conclusion

Both flat and plot have their own pros and cons, so the best method to select a suitable investment avenue would be to analyze one’s individual needs, liabilities, and financial abilities. However, if you are looking for regular returns, the better option is to invest in flats.

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