Investing in property can be the best move when you thinking of an investment in real estate industry. There are varieties of options available in the market where you can invest in like commercial properties, residential areas or even in land or plots. From beginning of this era, investment in plot is gaining huge popularity because land is the only asset whose value increases with time. Therefore, people feel it is a better option to invest in these plots because it is the key for enjoying profits in future. But with the increasing advantages there are some drawbacks too; following are some points which explain the advantages and disadvantages of investing in plots:
Pros:-
Simple and transparent process:
Investing in land may be tangible but not as complicated as investing in residential properties. You only have to calculate the area needed along with this do check the location because there should be more chances of growth in residing areas then there will be high chances of gaining profits thus it increases its resale value.
Gives the opportunity to construct according to your own choice:
Today, the demand of spending on lands is increasing because many people want to construct their own house which matches their taste, needs and preferences. This way they can stay happy and satisfied life and which ultimately increases their living standards.
Cost effective options:
When you will compare the prices of land with residential properties you can feel high difference therefore, buying a piece of land is more advisable. Along with this, when you are purchasing a land then you don’t have to bear maintenance costs so, buying a plot is an affordable option. In addition, if you are thinking to flip a property then also plot is considered as the best option because you can put on hold till the time you want, no renovation costs needed during resale and even property taxes are lower when compared with residential plots.
Available in different sizes:
You can choose a plot in any size you want at desirable location and after some years you can construct your own dream house according to your ways.
Cons:-
No immediate cash flow:
When you are investing in land, you should keep in mind that there will be no assurance of instant cash flow after your investment. Moreover, you need to do geographical surveys so that you are aware that the land is not affected by chemical contaminations which prove hazardous to health later in future and can have adverse effect on the value of a plot. This way it is essential to spend on surveys which are quiet expensive.
Ensure it should not be under zoning area of government:
Might be possible that your area will come under zoning area of government, this way there will be negative impact on your plans due to which your residential area will come under commercial zone or it can be vice versa.
Although there are disadvantages but taking some precautionary measures you can overcome its drawbacks. Always remember whatever may be the purpose of investing in plots, you must check all the papers related to the property well in advance because this will give you an idea that weather the land is not under any fake registration or stuck in court litigations so as to protect yourself from future scams. Even hiring an agent can also prove advantageous and helps you in gaining maximum profits from your investment.
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meeshaharji 