Things to Consider Before Buying a Land
Location: Location has always been very important. You and your family must plan which is the most important location, where you want to build your dream home. You might want to live in location away from the hustle bustle of city life, yet close to upcoming developments providing the much needed breathing space and peace of mind. Carefully consider your residential land requirements first, before anything else. Remember you can always change the house, but you can't change your locality.
Types of Land: There are generally two types of land where you may want to build your dream home i.e. Developed and Undeveloped land. Developed lands come with great advantages of utilities or amenities brought to the site and roads built. It may come as gated community. Whereas if you buy undeveloped land, you will be responsible for bringing the utilities to your home, and in many cases, you must build and maintain the roads into your property. This may add unnecessary home expenses. Consider your priorities and essential to determine what type of land you want to buy.
Legal Approvals & Documents: You must check approvals and documents associated with the property to avoid unnecessary liabilities in future as you may not be able to get them changed later. Before you buy your choice of land, make sure whether you will be able to build as you wanted.
Cost: It is an obvious one, but it may vary depending on the locations and the liabilities come with your choice of land. Land appreciation, neighborhood, key distances from prominent places may be the determining factor for price of you dream land.
Dimensions: The size of land you need depends on the size of the house you want to build. So consider all your priorities before you purchase the land as you may have several plans to do for your home in the future.
EMI and Loan Options: It provides a great relief to those who canâ€™t pay the full amount in one go. It also gives you the flexibility to pay in several installments and take loans as required. Loan approvals on a property also assure the authenticity of lands you are going to buy.