Five tips for buying an affordable plot

26 December, 2018

It is good hear that you have finally decided to own a home. Well, you will not face too much trouble to buy a plot at a convenient location. But all you have to say whether you are getting it at an affordable price or not.

We all have a dream to buy a plot at our favourite location but sometimes we step back just because of the high price of it. Don’t worry if you go through this article you will get to know about five tips that will definitely help you to own a plot at your dream location at a cost-effective price.

Don't get impressed with glamour

When it comes to investing on the plot it is once in a lifetime investment for many of us. While figuring out the best one for you it is quite easy to make you fascinated with the plot that comes with swimming pool and tennis court in the brochure. One thing that you must be aware of is that things might not look impressive in real life as it is in the brochure. Advertisement of those plots will be given in such a way so that it attracts you to invest on it, but the amenities are shown there may be of a little use to that kind of person you are.

A little research on the locality

Getting a plot in our favourite location is all that we dream about. You know that plots that are for sale on the outskirt of the cities are offered at a cheap price. Well this is true but have you questioned yourself whether going with these plots would benefit you in the near future? If you invest there you have to travel long distances just to reach the city and so this will surely not worth your investment. So make sure that you buy a home at affordable rates only in familiar places.

Seek for the second sale

If you are not in haste to buy a plot then looking for a second home will worth you. It has been reported that plot that is a couple of years or older can opt at a much effective price. So, if you want to save your penny then this will certainly be the best option for you.

Make your choice with ready to move in homes

Your EMI gets start as soon as you sign it on the dotted line, but you will not get any income tax benefit till the time property is occupied. You might not know that pre-EMI will not make you the homeowner.

Little research on your lender

You might have done a lot of research on your homes and now it’s time to carry out a little research on your lenders. You must gather information from as much organisation as you can regard your home loans. Compare the various interest rates that are offered by some reputed banks to choose the best from it. You might take the opportunity to go for a pre-approved home loan if it fulfils your needs.