Time to know? Which is the right buy? Flat, Villa or Plot

Oops, finally you have decided to buy your own house! Still confused. Whether you should invest in a flat, plot or a villa? Apart from monetary determinants, many other thoughts might hit your mind like upfront investments, resale value, the investment required, personal factors so on.

Don't worry, this article could help you with everything and let you know the pros and cons of plots, villas, and apartments individually.

Buying Plots Is A Good Idea?

Owning a plot is not a bad idea at all. Mainly because nothing can be compared to the satisfaction and freedom offered of living in a house where everything is built, customized to your needs. Here, you have the choice to modify the interiors according to the latest trends, build extra floors or even expand the area later (if you wish to have more space).

Buying a plot is a very strenuous task in India. For this, you should have a sound financial reserve. Equally, you should hire good architects; bring in the raw materials, and labor charges, look up for many other costs and time-consuming affairs. Another plus, the rate of return is higher for plots compared to that of flats (due to the demand-supply gap). But, buying a plot is a risky affair owing to legal issues and fake registrations. You have to pay much attention to important documents like encumbrance certificate, title deeds, tax receipts, bills, etc. before purchasing a plot.

Investing On Flats

Another big investment, as a large fraction of home buyers, prefers flats over plots (in India). The main reason for this is the availability of a larger number of options. Equally, you will get extra no of benefits, in the form of amenities like swimming pool, gymnasium, swimming pool, play areas, clubhouse and landscaped gardens.

Similarly, security features of the apartments add to the benefits. Besides, fraud risks are less in case of apartments. You can also rent your apartment for a legitimate income.

The resale value of the flat depends on the current market trends. So, the location, accessibility, infrastructural improvements can increase the demand value of the house.

Buying Villas In Kerala, India?

It's true that villas come with the combined benefits of both plots and flats because it can give you the pride of living in an independent house without a huge investment. These days the concept of gated villas is highly attracting the attention of affluent class buyers. Moreover, these complexes offer common amenities, including private amenities like terrace gardens.

Alas! All these types of properties have their own advantages and drawbacks. So, its better you conduct a field survey before identifying a suitable property based on your budget.