Prestige Group Apartments in Sarjapur
An adult achieves financial maturity as they start investing their money on stocks, shares, SIPs, and buying apartments/independent villas or plots. Purchasing an apartment is the second biggest decision one makes in their lives. The first is, for most of us, marriage. Married life usually starts in the new adobe with the better half. It is a sign of something stronger, positive, and powerful.
To take the most common belief into consideration, people across India as well as around the world invest in apartments and villas because they want their kids to grow up in an environment where every facility is available at their disposal. You as a parent choose the environment your kid grows up in as you are responsible for creating an ideal environment for them to be loving, kinds, disciplined, and positive as long as they are under your guidance.
Prestige City Prestige Group - Parents need the same kind of encouragement as their kids. If you don’t feel up for it, your kids won’t either. Children are like sponge, they absorb the energy around them and to be their role model, you need them to watch you going through the tasks the same way you’d want to watch them when they are adults.
Hence, choosing to invest in either apartments or villas are some of the decisions you will to live with as a parent. Monetarily, the investment should encourage indoor as well as outdoor activities for you and your kids. Since you are growing old and your kids are going through their development years.
Let’s look at some of the key factors to buying plots and villas.
Benefits of buying a plot
- The promised area assigned to the plot belongs to you.
- Freedom to build a home/villa according to one's wish.
- Low maintenance compared to villa or apartments.
Higher appreciation. If the plot is within the city limits and next to malls/IT parks, metro stations, the value of the plot increases manifolds.
Cheaper than apartments. In most cases plots are cheaper than apartments and villas.
There is greater and more transparency between the buyer and the seller.
Possession of plots are quick and easy. You wouldn’t have to wait months for builders to deliver and finally call the property yours.
Disadvantages of buying a plot
Buying a plot is one of the easiest things to do. However, if the land falls under commercial area years later, there is a possibility the government might take over the land or pay reimburse only a part of the total value of the plot.
Lands are prone to encroachment. Most of us are used to buying plots, fencing the boundaries and forgetting about it until we have enough money for build on the land. There have been cases of encroachment all around the country by adjacent land owners in the past decades. Some are as short as a feet on one side but on a sixty feet plot makes a huge difference.
Sometimes we miss out on doing the most basic checks such as ensuring the plot is not under dispute with the government or a cause of a family dispute.
Selling the plot might not be as easy as buying it. The appreciation of the plot might have gained over the years but finding a seller willing to pay the appreciated price may be tough at times.
Building a house or villa on the land area coud be difficult for individuals as it requires numerous approvals from the governments along with greasing of a few palms to get the work done at your speed.
Banks and financial institutions are not always keen on providing loans for land investments. In case you do manage to acquire a loan, the loan tenure may be lower to that of home loan.
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