Flat or Plot: Consider these tips to make a wise decision
Apartments have captured the residential real estate market, however, owning a house built as per your specifications holds more value. Investing in real estate is deemed as the most rewarding deal, but it depends on which option will benefit your goal in the longer run – an apartment or a plot of land?
Ready to move in vs Building from scratch
While buying a flat, all you are required to do is pay a particular amount or take a loan or pay monthly EMIs and you can start living in your house immediately. On the other hand, buying a plot means starting from scratch. First, the buyer needs to buy a plot and then construct a property on the land bought. This implies that you have to invest more in the latter. However, our industry experts are of the view that with residential plots, one has the freedom to reconstruct and customize as per his taste and needs.
Investing in residential plots means building your home on your own from the ground up however, the area and the amenities within the vicinity of the project is something you should carefully study. The open plots in Aushapur offer lucrative investment options for the land buyers. Most residential plotted layouts are located within the close proximity of schools, shopping complexes and have all the luxury facilities. Pinewood Homes by Modi Builders makes for an ideal example.
However, for the people with a limited budget, investing in flats can be a more viable option since monitoring of the homes and the accountability lie completely on the developers. Since building a residential plot can be slightly time-consuming, investing in 2BHK/3BHK flats for sale in Hyderabad could appeal them more.
From an investment point of view, residential plots have their own specific set of buyers. Land can be purchased for the sole purpose of constructing entirely a new building to make profits or can be used for other purposes.
On the other hand, apartments are mostly purchased to be lived in rather than for gaining good ROI. The affordability factor and low maintenance cost of the flats make them a safe option for investment. 2BHK/3BHK flats like Sterling Heights and Elegance are some of the most sought-after apartments in Hyderabad amongst buyers.
Keeping plots and apartments under the lens of legal narrative, we, at Modi Builders, advise the home buyers to ensure a thorough background check. It becomes important to ensure that the flats or the plots they are investing in are free from all legal complications and registered without any dispute. Looking at the options provided by the top builders in Hyderabad, it is safe to say that both the options benefit the buyers accordingly.
In the end, it completely depends on the buyer’s needs and what are they looking for: affordability or long term investment.