Plot or Apartment - Which One Is Better?

Who doesn't dream of buying a house of their own? But making an investment in a property is not an easy task. It needs proper guidance on what will be better and safe at the same time - investing in an apartment or investing money. 

 

This is an important decision which needs to be taken properly. Well, this is an important decision which will depend on your needs, lifestyle preferences, and other aspects like bank loans, and taxation. 

 

This article will point out a few differences between plots and apartments. 

 

While buying a plot means you will get an unfinished property. It means you have to make a construction plan on an approved layout and need to hire an architect to execute the plan. It is very difficult for those who are new to the place. As it is not a supervising plan, if you are buying a plot in a new city, there are many things to notice such as arranging the finance and dealing with local bodies, and contractors, it improves a lot of leg work over little things. 

 

Whereas buying a flat is much more convincing than buying a plot and making a house in that plot. Suppose you are planning to buy a 2bhk apartment in Gurgaon, you will get everything at once within your budget. Not only that, the flat comes with many facilities such as power backup, security, and many other facilities. 

  

Making a house is a long process, it may take years of planning, and then you need to wait for the ultimate work done, which is actually very time-consuming. On the other hand, buying an apartment is much better than building a house on your own. In flats, the delivery system is pretty quick than the houses.  

 

If you have future planning with the investment then you can choose build-up flats that are better than houses, especially in rental cases. You can put an apartment on rent to fetch you some income, whenever you want, which can’t do with plots. Even if you want to invest in luxury residential apartments in Gurgaon, you can do that too. There are many who love to take luxurious apartments for shooting purposes. 

 

So now you know all the positive things about why to invest in apartments. Investing in apartments is tax saving as well. When you take a home loan to buy an apartment, the monthly loan repayment allows you to save on tax. Do your investment wisely so that you don't have to regret your decision.