The decision of buying a property is for sure a difficult task for everyone. Picking from myriad options and trying to go in the right way through the entire process is a huge challenge in itself. A good financial plan is the most difficult part of all the challenges you face while investing in property. Before taking any decision, you need to have a sound economical backing to make your first investment. Now, then the question is whether you should buy a ready to move house or residential plots.
However, banks are always available to help you through the entire process of buying your dream home, but it has commonly observed that they are not very interested in funding your plot purchase. But if you are purchasing 2BHK flats in Noida, getting a home loan is easier. There are many other advantages and disadvantages of investing in plot and flat. Let’s know more about it: Know The Cost Whether you are investing in a flat or a plot, it requires a considerable amount of initial funding. In this case, you should choose 1BHK flats in Noida. You just need to pay a fixed amount as the initial investment and after that the installments. The rate of your property is not going to increase afterward whereas in case of the plot, you might have to pay a lesser amount to purchase it but the cost of the construction of the house is more. Also, there are chances that you will end up spending high above your budget to get exactly the type of property you want to construct. Pay Extra Attention To Returns In case of a house built on a piece of land, the value of land will increase but the value of the house will depreciate. So as a property owner, you need to pay extra attention to the floor planning, the quality of construction material, fittings and furnishings in rooms and the amenities and facilities within your house. The market value of an independent property in Noida will always be higher than that of flats. This is because of the difference in both demand and supply. While there are many people who are ready to buy independent homes, but there are not many to select from. So you have to construct a house that will stand out among the other properties. Know The Resale Value The resale value of flat works in a similar way like the returns. A well-constructed flat will get a better resale value, and may be they grabbed the attention of locals easily in urban areas. The resale value of ready to move flat will depend upon the location, its connectivity to major landmarks, the quality of flat and the inbuilt amenities. When you take a note on the process of buying, it is much easier to buy a flat and when you purchase it through an online real estate platform like Clicbrics.com, it is far easier and convenient than anything. But when you buy a plot on your own, too many litigations you need to take care. You have to check the documentation like title deeds, tax receipts, encumbrance certificates, etc carefully. To build your home on your own is definitely more satisfying but it is also more difficult than buying an apartment.
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