For first-time property buyers in Trivandrum, choosing between purchasing plots in Trivandrum or a ready-to-move property can be a tough decision. Both options have their own advantages and challenges, and the right choice depends on your financial situation, lifestyle, and future plans. Trivandrum’s real estate market is diverse, offering opportunities for both types of investments. Let’s explore the pros and cons of each option to help you make an informed decision.
When you purchase a plot of land, you have the freedom to design and build your home exactly as you envision it. This flexibility is one of the major advantages of buying a plot. You can choose the layout, materials, and style that suit your preferences, which is not always possible with ready-to-move properties.
Purchasing a plot is usually more affordable than buying a ready-to-move property. This lower initial investment makes it attractive for first-time buyers who may not have the budget to purchase a fully constructed home.
Land in prime locations like Trivandrum tends to appreciate faster than built properties. With the city’s growth and development, investing in a plot could yield significant returns in the long term. The value of land generally increases as infrastructure improves, especially in areas with proximity to schools, hospitals, and commercial hubs.
Since there is no building on the plot initially, you won’t have to worry about maintenance costs like repairs, painting, or upkeep, which are common with ready-to-move properties.
The biggest drawback of purchasing a plot is the time it takes to construct a house. From acquiring permits to the actual construction, the process can take months or even years. This makes it less suitable for buyers who are looking for immediate occupancy.
Building a house from scratch requires managing various aspects, such as dealing with contractors, architects, and laborers. The construction process can be time-consuming and may lead to unexpected delays or cost overruns.
Financing a plot purchase can be more challenging than buying a ready-to-move property. Banks often provide loans for plots with the condition that you must construct a house within a specified time frame. Additionally, the loan-to-value ratio for plots is typically lower, meaning you’ll need to provide a larger down payment.
The most significant advantage of purchasing a ready-to-move property is the ability to move in immediately. This is particularly important for first-time buyers who may be renting or living with family and are eager to have their own space.
When you buy a ready-to-move property, you avoid the complexities of construction. There’s no need to worry about finding contractors, managing timelines, or dealing with the stress of construction-related delays.
Banks and financial institutions are more willing to offer loans for ready-to-move properties, and the loan-to-value ratio is generally higher than for plots. This means that you can get a larger loan with a smaller down payment, making it easier to finance your purchase.
Ready-to-move properties typically come with a higher price tag than plots, especially in urban areas like Trivandrum. The cost includes the land, construction, and builder’s profit, which can be a significant financial commitment for first-time buyers.
When buying a ready-to-move home, you often have little or no say in the layout, design, or materials used. This lack of customization may not suit buyers who have specific preferences for their home.
Unlike plots, ready-to-move properties require regular maintenance from day one. Whether it’s repainting, plumbing issues, or electrical repairs, you’ll need to allocate a budget for upkeep.
The decision between buying a plot or a ready-to-move property depends on your priorities as a buyer. If you are looking for immediate occupancy, a ready-to-move property is a better option. It offers convenience, easier financing, and eliminates the stress of construction. On the other hand, if you prefer flexibility in design, lower initial costs, and are willing to wait for construction, purchasing a plot may be the better investment, especially in a city like Trivandrum where land values are appreciating.
For first-time buyers in Trivandrum, both plots and ready-to-move properties have their own advantages and challenges. Buyers should evaluate their financial situation, timeline, and lifestyle preferences before making a decision. If you’re seeking a balance between nature and urban conveniences, Emerald Hills offers a premium plot investment opportunity, perfectly located near Venkode.
