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  • Category: Miscellaneous

    Is it worthy to go for plot, buy flat or buy old house and renovate ?

    Owning a house of our own is the dream come true for many and not everyone is successful in this endeavor for many reasons. The cost of real estate has been increasing and normal middle class and salaried class has to confine with rented house only. Nevertheless some people are buying plots in far off places and when they become fully secured in life, then they would go for construction of house on it. Some are venturing into flats with loan facilities and for those who want to live independently are looking for old house, which is renovated to their taste. For you what is the choice ?
  • #749874
    Given a choice I would definitely like to have a plot of my own and then construct a house of my choice in it and then live independently for rest of my life. Unfortunately, this is a dream that many people dream day and night but never achieve in their lives. Except in some remote or interior places plots are now becoming very costly especially in metros or big cities.
    Next choice comes is that one can go for a flat and from 1BHK onwards all the combinations are available and one can settle for one depending upon one's financial condition. Loan is also available easily. Many people are going through this option and that is the reason why flats are selling like hotcakes nowdays.
    The option of buying an old house and renovating it is slightly a risky proposition because if it is very old house then it will require frequent maintenance and repairs and will be a regular headache for the owner. If the old houses are available at a low price then one can consider that option also.

    Knowledge is power.

  • #749875
    From the beginning, I like to have an independent house only. By the grace of God, I could purchase a plot in a good colony in Hyderabad and I got the house constructed as per my choice and based on my budget. When I entered that I felt very happy as my dream came true. As of now, I am staying in that house only.
    Before going for their own house, every person will think about the budget. What will be the cost of an independent house, what will be the cost of an apartment etc will be taken into consideration and then they compare the same with the money they have, the loan they can get and their repayment capacity. Based on these aspects they may take a decision. Here our liking may be different but affordability is important.
    Many employees these days are trying to have their own flat or house as they have to pay a good amount as rent. Instead of paying a huge amount as rent, the same amount can be paid as EMI so that the house becomes their own.

    drrao
    always confident

  • #749877
    Independent houses are always better than appartments and it is good to buy a site and build the house as per your plan. Many professionals help you to fulfil your dream by way of preparing diagrams and visiting the buildin site. The house is going to be there for generations ahead. Further,banks also provide loans which makes a person easier to build a home.
    Even we have bought a land and built the present house we have been living for 15 years.
    If you but a flat,you can construct a building on top and restricted to the limited area.

  • #749883
    It all depends on the resources available with you. If you are planning to build a house of your choice immediately, go for a plot and get the earlier registration papers and EC validated as double registration and reselling of sold properties are quite common in places like Hyderabad. Buying an old house and getting it renovated or restructured is a costly and time consuming affair and not suggestable.

    In these days, it is always better to have a flat in a Gated community constructed by a reputed builder/developer who will take care of loan and designing of the flat as per our taste. Thus, I suggest for a flat.

    Regards,
    Jagdish

  • #749885
    I think it is very difficult to get a plot in a good location now, although not everyone can afford it. So it is better to buy an old house and build a new one as per your choice. In this case, you will get the old house in the place of your choice. However, even if the flat house is today's fashion, it is better to stay away from it
    Believe in the existence of God the superpower.
    Regards
    Dhruba

  • #749887
    I think buying a plot is the best option one can have, even if it is not a very posh location. The way urbanisation is taking place every suburb somehow comes under the city area slowly and then develops into a posh area. One can later build a house whatever the way he/she wants later when they get established in life. As when one buys an old house they definitely make changes to their own ways and it is also something that costs much. It is better to have a house in a little far away area rather than a congested flat in a very posh and good area. But if one has a requirement of a place from where they need to go office daily and school for kids, One should see all other aspects as well with affordability or till the time live in a rented house.
    "It is hardest thing in the world to be good thinker without being a good self examiner"

  • #749896
    My choice goes for an independent house to be constructed with a plot under my possession lying in an ideal condition. With the population swelling beyond our anticipation, independent houses would fit me in many ways. The first one is the privacy which I can maintain and for the relaxation, I can have plenty of greenery around my independent house to enjoy the proximity of nature apart from my involvement in the gardening. Though the land might be a few km away from the main town, it does not matter if the road connectivity is smooth. It may take hardly half an hour to reach the prime location of a city. Construction of such houses at some remote place is somewhat better for the better concentration of our mind with our chosen hobbies to be perused in our retired life. I am shortly planning to have a dream house at a place numbering a few houses at present but the plot is just adequate for me to fulfil my dream. It would be constructed very shortly with the partial finance of the bank - loan apart from selling a land already in my possession in my village.

  • #750028
    In many interior cities of almost all states there were houses comprising four or five in an big house which was called as 'stores'. A big common place in the middle was there which used by all the house persons on a common purpose etc., The same is just a modified level and called as apartments. But the living atmosphere is not similar to that of stores. Though I lived in such stores till my college days, after coming to a metro city for employment, I am dead against in apartment living. It is better to live in a rented house rather than to have an own one. It is good to construct a house or buy an apartment house for renting purpose. After seeing many incidents, I am least interested to buy a house or construct a house for own occupation. Many of my relatives built house for their living with much interest in constructing this way and that way, maintaining the house as anything with much care, but once their head got down, that is once he left this world, on the very next week their children planned to gave, on sales, that house for apartments. My heart felt painful by seeing this and the way my relative built, maintained the house. If anybody wants to construct own house or apartment he/she should keep his/her mind ready to foreseen the demolition.

  • #750031
    All the good plots are already sold and constructed and we have been left with not so good, irregular plots with vastu problems and that also at big rate.
    K Mohan
    'Idhuvum Kadandhu Pogum "
    Even this challenging situation would ease


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