Thinking of shifting to Mysore? Which would you think suit you better? Buy and readily available flat or buy a plot and build your dream house? Here, we take a look at the flats versus plots scenario in Mysuru real estate sector.
Investing in property is a difficult task. Not only do we need to find a safe avenue but also think about what to buy; an apartment or a plot. This decision depends on lifestyle preferences and other aspects like taxation and bank loan. Resale value is crucial when it comes to investing in real estate.
Investment in land is popular as it is the only asset that increases in value. Experts believe that plots are a better option. This is mainly because age does not affect investment in plots as it does apartments. The land is a limited resource. Therefore, its value appreciates much faster than a flat of similar dimensions for a similar timeframe. A flat is actually a depreciating asset. This is truer in big cities than tier 2/3 cities.
If you are thinking long term, plots are the best choice in creating wealth-generating assets.