What Is Better For Investment – Land Or Apartment?â€
To judge the best between land and apartment, one should first focus on one’s own requirements. Often, the obstacle for those considering a property investment is not about its potential. Everyone, by default, end up viewing a property either for our own use or for an investment.
Subsequently, there are a number of pros and cons towards opting between land and an apartment, both of which require a proper understanding of ones requisites. With space accessibility disappearing rapidly in every city, the value of the land is estimated to appreciate very quickly. Flexibility of options to build as per future requirements helps the cost of land and property increase very fast. However, an apartment has a partial life span, so its value has a weakening outcome. After a certain amount of time, there is immobility in the development. Lack of flexibility in use, modification and expansion are hindrances to a quicker growth compared to that of land.
A bank loan while purchasing a home or land is almost always necessary. It should be understood that while it is quite easy to get a loan for an apartment, it is rather difficult to get one for a plot, as banks usually doesn’t provide finance for buying a land/plot.
While land generates a relatively very low income if rented, and sometimes is difficult to reoccupy the land if the tenant pushes the property into litigation, apartments are ready to generate handsome income from the first day of taking the possession if it is given on rent. There are also lesser amounts of chances of litigation with modern laws in place.
Buying an independent land/floor means sovereign choice to build a house depending on one’s own requirement and constraints. On the other hand, an apartment is a redesigned, multi-floored construction. The apartment buyer has lack of freedom to change the shape and size of the construction area. However, it benefits in matters related to security, accessibility and location advantages.
To judge the best investment avenue between a land and apartment, one should first focus on one’s own requirements. If the investor wishes to use the property for their own personal use, then land could offer an advantage of usage flexibility and handsome value appreciation in long term. But building a home is a greater challenge than purchasing an apartment. However, it is much more satisfying since the owner of the house is involved in all the steps of the construction process, and everything is done as per their likes. If the Investor wants to resell the Property after a short period then it is more profitable to take a position in an apartment. If the investor is a Sr. Citizen or someone who cannot devote much time to maintain the property then again it is advisable to take the choice of an apartment over Land.