Let’s look at some of the key factors to buying plots and villas.
Benefits of buying a plot
- The promised area assigned to the plot belongs to you.
- Freedom to build a home/villa according to one's wish.
- Low maintenance compared to villa or apartments.
- Higher appreciation. If the plot is within the city limits and next to malls/IT parks, metro stations, the value of the plot increases manifolds.
- Cheaper than apartments. In most cases plots are cheaper than apartments and villas.
- There is greater and more transparency between the buyer and the seller.
- Possession of plots are quick and easy. You wouldn’t have to wait months for builders to deliver and finally call the property yours.
Disadvantages of buying a plot
- Buying a plot is one of the easiest things to do. However, if the land falls under commercial area years later, there is a possibility the government might take over the land or pay reimburse only a part of the total value of the plot.
- Lands are prone to encroachment. Most of us are used to buying plots, fencing the boundaries and forgetting about it until we have enough money for build on the land. There have been cases of encroachment all around the country by adjacent land owners in the past decades. Some are as short as a feet on one side but on a sixty feet plot makes a huge difference.
- Sometimes we miss out on doing the most basic checks such as ensuring the plot is not under dispute with the government or a cause of a family dispute.
- Selling the plot might not be as easy as buying it. The appreciation of the plot might have gained over the years but finding a seller willing to pay the appreciated price may be tough at times.
- Building a house or villa on the land area coud be difficult for individuals as it requires numerous approvals from the governments along with greasing of a few palms to get the work done at your speed.
- Banks and financial institutions are not always keen on providing loans for land investments. In case you do manage to acquire a loan, the loan tenure may be lower to that of home loan.
Benefits of buying a villa
- Speaking of benefits of buying a villa, it is the most profitable real estate investment
- Villas ensure security. A gated villa is not only a smart privacy move, it brings the freedom you wouldn’t have in the apartment.
- Villas have their own parking space.Best Villas in Bangalore
- Apartments may restrict you from getting a pet but villas are your own adobe. You can have a colony of pets in your private villa without having to keep up with the nagging neighbours who might have a problem with that.
- You can literally pick a colour while being blindfolded from the catalogue and paint your bedroom walls with that colour. You will have absolutely no one to question your choice in the shade.
- It gives you your money’s worth. You can design it the way you like, choose the interior of your choice. Get an indoor or outdoor swimming pool or get one on the terrace for your sunbathing mornings. Additionally, you can have your private garden or get as many house plants in your villa without anyone raising questions. Garden improves the air quality of the place.
- As time passes by, your need for more than sufficient rooms might diminish. Hence, you can rent the rooms out to suitable tenants and generate an income at the side. After all, an extra fixed deposit wouldn’t hurt anybody.
- Some villa communities in Bangalore have amenities like gyms, libraries, kids play area, and open spaces for morning walks and evening strolls. Villas improve our standard of living.
- Along with worldclass amenities and securtiy, villas provide a peaceful environment. The use of facilities and amenities seldom get in the way of hampering the peace it has to offer.
- Some villas are built bang in the middle of the city and ensure the same tranquil environment as the ones in the peripheral areas.
Disadvantages of buying a villa
- Builders and developers, especially in metro cities project simple row houses as villas to attract potential buyers. Most of the time, those houses don’t have much to offer in terms of quality of living, privacy, and security. At times, the facilities don’t even the apartment standards. Hence, a thorough research on customer’s part should be ideal.
- Villas are often built in huge spaces, away from the cacophony of the city dwellings. While that draws enough people who have their own businesses or those that work remotely all the time, it fails to attract employees that work in proper city area. Hence, it is not the best investment for people who must spend hours in the traffic.
- Maintenance is one of the most important factors while investing in any property. Whether a fresh or a resale one. Apartment complexes have monthly maintenance for the amenities, services, and facilities they provide. Anything that goes wrong in the apartment or the society, it will be fixed with the maintenance money you pay every month. However, in villas, the maintenance cost is yours and your alone.
- Villas are as expensive as they are luxurious. Once has to burn away their life savings in order to revel in the worldclass facilities.
- There are chances that residents might feel alone living in a villa as they cater to financially stronger niche as opposed to apartments where people stay in close proximity and chances of residents forming friendships are higher.
You are the best person to decide which community living is the most preferable for you according to your needs. Villas provide you the best of both worlds, plots and apartments. They are gated, secured, provide 24 hour surveillance, and each villa has a garden area, either outsideor on the terrace.
Apartments define community living. They are available and designed in large numbers than villas or plots. Depending on the area, the price of the apartment changes. You can choose the areas according to your budget.
Plot is like one of those games where you give yourself a piece of land and as you prosper and progress, you build everything as you like, with your favourite colour. You can choose to have an open are outside for kids to play or install swimming pool for weekend barbecues or pool parties. It is, however, difficult to find a plot in your preferred location. You will need property experts, interior designers, painters, architects, plumbers, electricians, carpenters, etc.to see your dream house build on your plot. While it will be one the most tedious task to undertake, it will be worth it in the end.
Wherever you live make sure all the essential facilities are close to your dwelling. Facilities such as schools, hospitals, malls, restaurants, pubs, supermarkets are within the stone throwing distance of your house.