Real estate market is an ever-trending sector not just in India but across the globe. In the real estate sector, India is doing well and has ranked 34th among 99 countries on the global real estate market transparency index. The ranking is for the year 2020.
There are fewer benefits of leasing houses over buying houses or sites, but there are multiple advantages of buying sites over leasing houses. India is a currently good option for real estate investment and looks like it will remain so.
One of the major advantages of buying sites is the freedom to do what you want, as you will be the rightful owner of the property. You get to benefit from many advantages if you buy a site rather than lease a house.
We discuss the top 10 advantages of buying sites over leasing houses:
- Lesser complications – buying sites from an approved agency or directly from the government is less complicated as compared to leasing a house from an owner. The transparency of transactions and facts about sites is better as compared to buying an existing building of any kind, so you know exactly what you are paying for.
- Investment options – buy sites so as to have multiple investment options. You could invest in constructing buildings such as commercial or residential, start agriculture or anything else that you want to do on the site. It’s a clear-cut rule that real estate is one of the best investment options.
- Time is not a constraint – when you buy sites, you can always choose and even change what you want to do with the site.
- Keep it or sell it – you can either keep the site or sell it if you want to make some cash quickly! This is a great option especially if the site is your only investment.
- Long-term investment – if you decide that you want a house, you can start right from the foundation as you already have a site to build on!
- Increasing value – the value of real estate is always increasing due to increase in population, given the general demand vs. availability of land.
- Modify land – unlike a common misconception that nothing can be changed on a site, the topography can actually be modified to some extent if necessary.
- Ownership – buying sites means you are the owner by default; since leasing a house is only temporary, however long the duration, you cannot have the house’s ownership unless the house owner decides to sell it to you.
- It’s a free land – we mean literally. You can do just about anything with the site such as covert it to a farmland, building a house, constructing multipurpose buildings or even just keeping it as it is for many years. You even have the freedom to buy a site based on what your purpose of usage of land is.
- Security – as a matter of fact, land is immovable property. Your property is secure and there are little-to-zero chances of any damage or unforeseen costs, unlike when you lease a house. You can buy a site and just let it be until you have a plan on what to do with the site!
So, where to buy sites? The Tier-2 city, Mysore is a great place to buy land in India. When you buy sites in Mysore, you are investing in an upcoming IT hub which is also a great retirement spot for residence! To top it all, the weather is great, population is lesser than any given metro city. The cost of living is still affordable as compared to Tier-1 metro cities although the standard of living is almost comparable. It is a good future investment to buy sites in Mysore, given its constant growth.
If you want to consult a genuine real estate consultant in Mysore, your search ends at GSS Projects! The company has been around since 1995 and has made a great progress in the field of real estate. Contact us for help from an expert team, rest assured that you will get the best of services.