Flats or plots? Please share your inputs!
Flats: You save money for a few years and give most away as downpayment. Then for the next decade or more a major chunk of your salary goes towards EMI. By the time you are done with the EMI (10-20 years) the flat is now old, hasn’t appreciated much and selling becomes an issue. Add to it building politics, lack of maintenance in many projects etc.
Plot: You buy a villa plot or some 200-400 square yard plot in a developer’s plotting project. After 10-12 years that project might not have taken off as no one really is building a villa there (seen such cases around Hyderabad a lot) and you might not be able to sell it too!
Is my understanding wrong? With no ancestral property to rely on I see myself living in rent and although it is relaxing for now, I can do with some guidance on buying a house / land by people who have done it and your views on it?
Land >> Flat You need not by plot/piece of land from developers. There are plenty other ways to buy.
Just make sure all revenue document, titles deeds etc are clear
Land will have far better ROI but you have to be do proper due diligence about title deeds. If you are not local, it will be additional challenge. Other drawbacks of individual villa is no society (less secure). Also, if your budget is under 3 crore, you will hardly get anything in city
Exactly. Land in city or within city limits makes sense over long term but buying a piece of 300 sqyd 1 hour away from city in some gated community?
Why so negative thinking ? Many plots appreciate and are best investments. Many flats are coveted for long as well though I always prefer plots cos god is not making new land anymore
My personal experience is I bought a ready built house, 1Cr round off cost including registration and government fees, 80k per month is EMI, if you have more than 1 house in the plot, you can rent out one and that acts as passive income too.
What would be a better investment opportunity in Bangalore. Is it worth getting an apartment on loan and pay the emi from rent received? or would it be better to get a land a little away from the city. if yes then which areas would you r...
If you have the capital for it, then go for land because God ain't making any more of it
Insurance, investments, loans - fire away, happy to share the information I have / researched
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Considering you pay 50L down-payment and take 1.5cr loan at 9% interest, monthly EMI is around ~ 1.3L = 15.6L yearly....
