Independent House Vs Plot: Which is a better investment avenue?

Certainly! Let’s explore the key differences between an independent house and an open plot:

1. Independent House (Villa):
   • Independent houses offer more privacy, space, and freedom compared to apartments or townhouses. You have autonomy over the house’s construction, layout, and materials used.
   • Pros:
     • Privacy: You’re not part of a larger complex or community.
     • Customization: You can personalize your living environment.
     • Long-term investment: Independent houses can appreciate over time.
   • Cons:
     • Upfront costs: Building an independent house may require higher initial investment.
     • Maintenance: You’ll need to manage upkeep and repairs.
     • Lack of shared amenities: Unlike apartments, independent houses may not have common facilities.
2. Open Plot:
   • open plot refers to a vacant piece of land without any structures. It’s essentially a blank canvas for you to build upon.
   • Pros:
     • Flexibility: You can design and construct your dream home from scratch.
     • Investment potential: Land can appreciate over time.
     • No existing structures: You’re not bound by existing layouts or designs.
   • Cons:
     • Construction process: Building a house on an open plot involves time, effort, and coordination.
     • Infrastructure: You’ll need to arrange utilities like water, electricity, and sewage.
     • Lack of immediate use: Until you build, the plot remains unused.
3. Choosing Between the Two:
   • Consider your priorities: If privacy, customization, and long-term investment matter most, an independent house might be ideal.
   • Evaluate costs: Compare upfront expenses, maintenance, and ongoing costs.
   • Lifestyle: Independent houses suit those seeking autonomy, while open plots are for those who want to create their own space

Which requires more investment?Building one’s own house can be a challenge since one has to constantly monitor the construction activities, right from meeting with architects to ensuring raw materials are used correctly. Also, a common problem faced by most first time home builders is the tendency to stretch the budget while constructing the house, resulting in overspending. With flats, a definite rate has to be paid to the builder; and apart from the house and registration costs, the buyer only has to spend on getting the interiors done. At any price range, constructing one’s own house will be more expensive when compared to buying a flat of a similar size and dimensions; however, it gives the owner the freedom to choose the layout and design.

Which has better resale value?When one considers the resale value of the house, most people who are looking for an independent house prefer to buy a plot and construct their own house as opposed to buying a built house. However, with the cost of construction and land escalating, there are buyers for building independent houses too. In case of a house, the value will have a direct correlation with the amenities within the house and accessibility around it. In case of flats, the value of the property rises as the demand for flats within the colony rises. However, houses have a higher resale value than flats, primarily because the person buying the house also becomes the owner of the plot of land on which the house has been constructed.