Real estate is without a doubt one of the most profitable and stable forms of investment. While residential properties have become practically synonymous with real estate investments, they aren’t the only option available. Investing in land has always been a popular option in India and the recent trends have shown a steep rise in demand for its quick appreciation value and the flexibility it offers. Purchasing a standalone plot means the sovereign option to construct a house consistent with one’s unique taste and budget. If you’re thinking about investing in real estate, here’s why buying a piece of land should be at the top of your list.
1) Greater Flexibility –
When purchasing an apartment, homebuyers are often constrained by the architect’s concept for the property. They are only allowed to make a few customizations to the property, and changing the layout is out of the question. A plot of land, in contrast, is like a blank canvas to design and build your dream home upon. You would be liberal to design and build your home as per your taste and preference. A house lasts you a lifetime, therefore you must have the power to design it in a way that reflects your personality and lifestyle.
2) Lucrative Returns on Investment –
The most attractive quality of real estate investments is that they are bound to appreciate over time. While land and residential properties both have this in common, but investing in a plot might give you an edge. In recent years it is observed that a plot of land appreciates at a considerably higher rate than residential property. The value of land is also influenced by the surrounding infrastructure. Improvements in the latter will inevitably increase the value of the former. Therefore, the surrounding development plays a crucial role in estimating the value of plots and offers much higher returns in a shorter period.
3) Low Maintenance Costs –
Whether you want to live in your newly purchased property or not, you will have to pay for maintenance. Some of these payments are fixed, such as maintenance fees charged by housing societies and some are incidental like plumbing issues, electrical problems, renovations, and so forth. But with the parcel of land, there is essentially no upkeep cost. The maximum one might have to shell out would be restricted to pay for fencing and mowing the area, hence plots are way more affordable to maintain when compared to apartments. Even the most sedentary investor can own land and not have to bother about regular maintenance.
4) Low Property Tax –
Property Tax is a recurring expense that property owners have to account for, regardless of whether they own a residential property or plot of land. In the case of land, the property tax is substantially lower than it is for a house. So from an investment point of view, you’ll not just be saving money when you are making the initial purchase for a plot of land, but also in the long run while paying taxes.
5) Leverage Quick Possession –
When investing in real estate that is still under construction, homebuyers need to wait until it is finished before taking ownership. The handover can take a year or even longer, depending upon the project’s building stage. But with a parcel of land, there is almost no probability of a delay. Therefore, investors can almost immediately take control of their new assets.
Investing in a plot of land is undeniably one of the safest decisions for those seeking high returns with minimal risk. In addition, compared to a solitary site, gated communities provide better amenities. Furthermore, while building a house on your own takes a lot of time and effort, it might save you money as compared to purchasing a plotted development from a builder.
To further ease your pain, we at Wave Estate, Mohali welcome you to a life that is truly spectacular whether it is a lifestyle, security, luxury or the joy of being so close to the majestic Shivalik range. Wave Estate residential plots come with a promise to give you a life beyond extraordinary. The Plots are bestowed with various salient features ranging from plot sizes of 125 to 1088.8 square yards, gated community, community club, adequate parking for residentials/guests and numerous connectivity advantages. So now mark your territory with our residential plots, make your abode in your style and be a part of life in Wave Estate that revolves around you.