Purchased plot of land [Photo/Makaan.com]
If you planning to buy a plot there are a variety of things to consider. It is an investment that could benefit you in the long run if you invest smart, however, if you chose to purchase the wrong plot you could be in for a tough time. Here are a few things you should consider before buying a plot.
Location. This goes without saying, the location is probably the most important thing to confirm when buying a plot. How far is it from where you operate daily? If you have children is it near a school? You should also look to see where the nearest medical center is just in case of an emergency.
Picture the place in 5-10 years. When people are eager to buy a plot they tend to rush and choose one with certain features, while also forgetting that the area may not look the same in five to ten years. It is important you do some research and see if there are any plans for the area.
Sustainability and development. When choosing the plot it is important to first be sure what exactly you intend to do with the land. From there you will then have to decide how you plan on sustaining and developing the land. A lot of times people purchase plots and start the first phase of construction only to change their minds and leave the plot unfinished.