20 Oct 2016

Rishabh Tripathi

Plot vs Apartment - Which Is A Better Choice ?

While planning to invest in a property people are very much confused and are faced with a dilemma. They have the option of investing either in plot or buying a apartment. Now one may say that buying a plot of land gives you the flexibility and a greater sense of ownership but the apartments are more secure and are easy to buy as compared to plots.

Now both the investments have some merits and demerits , but there are some points and factors  which should be considered before investing in any of the property so that the choice you made will relate to your needs and you do not regret later.
  • Value Appreciation :-  Space is a constraint in todays world and land is a limited resource therefore value of land appreciates much faster than that of an apartment of same dimension in same duration. Another reason for slow appreciation of apartment is that it has a limited life span.
  • Flexibility Of Construction & Modification :-  While buying a plot you have the flexibilty of the type of construction you need as per your needs also you can make any changes at any time in future . But in an apartment you do not get it wholly as per your needs and also there is limited options of any modifications if needed in future.
  • Cost :-  While the cost of both depends on the locality , accessibility  and size but in case of apartment sometimes another factor comes into play and that is the developers brand .
  • Loans and Financial Assistance  :-  It is easier to get a loan for a apartment and several banks provide many options on loans to choose from . But in case of plot one has to be financially sound to get a loan as banks do not offer loans on plots easily . The process is very tedious. Also the associated tax benifits are subjected to the completion of construction on that plot of land.
  • Risks :- While buying a plot of land involves taking clearances from government and many other paper work . While in a apartment all these works are done by the developer and you just have to buy the house. Also in case of land if it gets into some kind of litigations then it takes too much time to come out of it.
  • Security :-  Since a plot of land is outside any covered camous it is more prone to theft , vandalism and other dangers and also you need to invest seperately in the security factor. But an apartment is in a covered campus with guards and other security and therefore are relatively secure.
Investing in a property is the most sought after option but in order to benefit from it you need to consider all the pros and cons of property you are investing in . So there is no perfect shot to which is better - plot or apartment. It totally depends on your financial profile , your risk factor and most importantly your needs and requirements .

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12 March 2017 at 09:13 delete

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