Buying a House VS Buying a Plot

With multiple available land and plots for sale in Lahore Pakistan, it can be tough for one to figure out which is a better investment option to choose. If you plan to spend a fortune it must be worth it, Al Ghani real estate agency is here to help you understand the dynamics of purchasing a house or a plot. Whether you choose to buy a house or a plot, multiple factors might affect your investment over time. Buying a house VS buying a plot, here is all that you need to know:

Preference

A plot or a house, whatever you choose to purchase for yourself, preferences matter a lot. In this case, a plot for you means the liberty to construct your house just as you like. From room dimensions, balconies, garden to kitchen, everything can be designed according to your preference. However, if you choose to buy a house, you will have to somehow compromise on your preferences as you might not find a house as perfect as what you require. Similarly, buying a plot to be sold in the long run can also be beneficial in comparison to a house. The buyer will then also enjoy the liberty of building a house as per its needs instead of choosing a house already constructed.

Maintenance

The biggest perk that plot owners enjoy over house owners is the maintenance. You might put your house up for rent and enjoy a smooth payment every month, but the maintenance costs will leave you concerned. As a landlord, you will have to bear the cost now and then. Even if you choose to live in the house yourself, the maintenance of a house is a tough job in comparison to a plot. There will be plumbing issues, regular paint drives and much more to handle. The plot owners in contrast do not have to spend a lot on maintaining the piece of land. A couple of visits every few months can help instead of regular visits. They might just have to get it cleaned often and that’s it.

Security

If you plan to invest in a house, make sure the community is safe and provides the best security services to avoid any inconvenience. On the same side, if you have planned on selling the house which is currently unoccupied, keep monitoring it to avoid any illegal activity or occupation. Even when finalising the tenets, make sure you are aware of their background and keep a soft watch on their activities. Plots are relatively easier to maintain and secure. Even if you do not plan to make a boundary wall, plots stay safe from illegal activities. You will just have to be vigilant about illegal occupancy.

Resale Value

As a property gets old, it certainly loses some of its value due to maintenance issues. However, in the case of a plot, the value increases with time, the trend might be gradual, but it does rise. A house may lose its value with time unless it’s a strong structure and the location is ideal but, in most cases, a built property’s resale value does not rise much. Plots, in contrast, are an open opportunity for buyers to build, hence the value increases with time especially when urbanization increases in the vicinity. This the reason why people tend to buy plots in developing housing schemes and later sell them at high prices ones the community is set.

Reselling Hassle

Selling a house is surely difficult than selling a plot. Buyers have critical demands while buying a house especially when the property has turned old. They want each and everything to be perfect while making a choice and the house must fit their needs. These factors cause hindrance while reselling a house. Whereas, a plot is an open unused opportunity as mentioned before. It gives the buyer all the liberty to construct just as they want it to be. Thus, plots are relatively easier to resale in comparison to a house. There is no better feeling than having your own house to live in, but for investment purposes, a plot is a proven better option unless you can manage to maintain a house and deal with tenets. Whether buying a plot or a house your needs matter the most, but a smart investment can surely help you in the longer run.

Summary

Investors especially beginners find it difficult to choose between buying a house or a plot to be used in the longer run. This guide can help you understand the factors that affect such investments in time, buying a house VS buying a plot can have different advantages and disadvantages that cannot be ignored. From maintenance, security and resale value, this article helps you understand every aspect of investing in a house or a plot