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Things To Consider In Buying Plots For Investment

Discussion in 'Money Matters' started by wish4miracle, Apr 14, 2018.

  1. wish4miracle

    wish4miracle Silver IL'ite

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    Hi,

    We are thinking to invest our small fortune by investing in a plot for future. its completely gonna be a investment, not for building a house for our own.

    my question is what are the factors that we need to consider while buying a residential plot apart from cost factor? Like is it okay to buy a corner plot? would people prefer to buy?
     
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  2. Lin1321

    Lin1321 Silver IL'ite

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    If it is purely for investment you must make sure you get planning permission for a residential building on it and make sure it is not in an area that normally floods.
     
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  3. coffeecups

    coffeecups Gold IL'ite

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    1. Invest on something that doesn't have any legal issues / court cases. Verify the genuineness of the source before investing.
    2. Look for investments in areas which hold promise. Buying something in a busy residential area (already well developed) may not fetch you much of profit when you sell them. Max, the value may multiply by 2 -3 times. Target areas where the returns may be 5-10 times in the future.
    3. Make sure the area has close connectivity to main roads. This will increase it's resale value.
    4. Corner plots, north facing plots attract some buyers.
    5. Also buy a property in a place where you/ your family members can visit it now and then to keep an eye on it and safeguard it from encroachments.
     
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  4. star90

    star90 Senior IL'ite

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    How to ensure that it doesn't have any legal issues / court cases? from where can I get that information ?
     
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  5. star90

    star90 Senior IL'ite

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    From where can I get the planning permission ?
     
  6. coffeecups

    coffeecups Gold IL'ite

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    My 2 cents before giving any further suggestions. When someone gives feedback to your post, it would be nice if you could thank them or give them a feedback about the suggestions they offered, before bombarding them with further questions.
    It's just a forum etiquette especially when we are new to the forum, it plays a big role in sending positive vibes to your responders and help you win more friends.
    This was merely a suggestion and I hope you take it in the right spirit.
     
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  7. shravs3

    shravs3 IL Hall of Fame

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    True but looks like she is not active after posting the thread without any further questions !
     
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  8. coffeecups

    coffeecups Gold IL'ite

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    I think she has asked both me and the other responder, further questions (after her initial post) based on our suggestions which seemed a bit blunt to me. Hence the post
     
  9. Lin1321

    Lin1321 Silver IL'ite

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    I can only answer for where I live at the moment, we need to get planning permission from East Lindsey but each country has different rules & who/how to get planning permission.
     
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  10. Shanvy

    Shanvy IL Hall of Fame

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    Buying property ???

    Most of the details were drafted in 2008 and they still hold good but now there are few changes.


    I personally like 60*40 which is standard and easily saleable. If you are in TN there are people who don’t do plots that a street ends on. They are called therukuttu plots.
    Corner plots sometimes end up as a shapeless plot sometimes in a development when a piece of land is divided the corner plots end up like 30*40*50

    If you buy a resale plot you should look at the price appreciation from the first development and more.
     
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