Home purchasing

Debunking common myths about buying land

The festive period is often considered a good time to invest in real estate. Since the purchase of land is a high value investmentmany buyers and investors reluctant to invest because of their lack of knowledge on the subject. Real estate myths can get in the way of your investment journey. We dispel some common misconceptions that guide buyers away from investing in real estate.

Any type of land can be purchased

Land for sale in India is of two types: agricultural land and non-agricultural land. Only farmers are allowed to buy agricultural land for cultural purposes.

Non-agricultural land is used for residential, commercial, industrial or institutional purposes. However, before buying land, you should check whether the seller has legally converted the farmland to non-farmland.

Ideally, if you are looking to buy land to build your future home on or multiple plots of land as an investment, buy one in a well-planned development from a registered developer. The amenities available, the local neighborhood and the supporting infrastructure can contribute to the appreciation of the value which will benefit you, if and when you decide to sell the land.

Location doesn’t matter

Of course it is! If you buy land in nature, you can forget about ensuring a profitable return on investment. Location is one of the most important aspects to consider after deciding on your budget.

The choice of locality also depends on your timeline, whether you plan to build a house to live in or sell it after five years.

If you intend to stay in this area in the future, you may want to invest in land in a developed neighborhood with existing infrastructure and amenities, so that when you start building your future home and you will settle eventually, it will be a problem. free experience.

In the case of a long-term investment, such as five years, after which you plan to sell it, you will need to consider the surrounding development with the perspective of your future buyer in mind.

Proximity to major infrastructure projects such as an airport, metro station, educational institution, medical facilities, commercial offices, etc., is a great selling point.

No income from the land

There are many ways to use your land, no matter how small, to generate income instead of leaving it vacant.

Rent it to a farmer on a monthly or long-term basis to grow vegetables and fruits. It’s a win-win situation for both you and the farmer; your land, and their crop, both will benefit.

If your land is in a scenic spot by a river or lake, rent it out to picnickers who may want to pitch a tent and camp for a weekend.

Source – Times Property