Why do people prefer land or plot over constructed houses? Well, there are a number of reasons for this. If you are also planning to buy plot after retiring then you have landed at the right place. Read on as we discuss some compelling points that make investing in plots post retirement a worthy step.
Beware if you decide to invest in a finished home. You would be responsible for the upkeep of the property, pay property taxes and other related costs. In case you put it on rent, you would have to deal with all the hassles of dealing with renters. The plot of land, however, gives you the option of doing anything you want to do with it or just let it be for the time being. The land appreciates and would forever be beneficial even if you sell it off later.
A Legacy Forever
Owning a plot would give you a permanent address. The area where you live would be known by your name and would be a legacy that will live forever as long as your children live there. In a flat, you would be living like several other families with hardly anyone knowing that you live there.
If you are someone who prefers living exactly as per your liking then investing in a plot would be best for you. In flats, you cannot do much if you do not like the design or interior of your house. Whereas in plots you can live exactly as per your specifications. You can make an extra floor which would also bring additional income to you in your twilight years or give your home a particular design. It’s your home and a plot will give you the freedom to mould it exactly as per your liking.
It may take months or even years before you get possession of a flat whereas in the case of plots the delivery is instant. So if you are buying a plot rest assured that you would get your possession way earlier than a flat.
Construction of apartments takes a long time and the speed is also compromised because of delays. This raises the cost of construction and the builder then compromises on quality to finish the project as quickly as possible thereby compromising your quality of living. You can however build your house with the very best of materials that will add strength and finesses to your home.
Symbol of Luxury
Owning a plot of land is a symbol of luxury and it would elevate your status instantly. Moreover, there is no limitation on the type of construction you can have on your plot of land. You can construct a smaller house or big mansion depending on your requirements.
Investing in property post-retirement can be a great move. All you need is to connect with a trustworthy real estate broker like SMC Realty and you can buy your plot at the best possible rates and from the top developers in the country that would fetch you great return.