3 Common Mistakes to Avoid When Buying a Plot
Buying a plot is a good investment option. It’s a safe and stable option for investment. However, every investment involves some risks, especially the mistakes that people tend to make. Most people do it because they don’t do due deliberation on their part. If you are planning to invest in a plot, here are 3 common mistakes for you to avoid:
1. Buying a piece of land without personally checking it out
Every real estate developer will show beautiful
pictures of plots that you can buy. But how do you know how many of those plots
are real and available? The best way to find out is to personally visit the
location to check the plot. Ask the seller or property dealer to take you to
the location. Do not ever buy a plot without checking it out at its location.
This is a common mistake; so common that a
surprisingly high number of people make it. It’s a mistake that can be easily
avoided. A simple piece of advice is this: If you don’t know much about plots,
hire an expert to help you along the way. When you hire an expert, they will
tell you which claims of the seller are true and which are false. The expert
will be on your side, and they will make sure that if you are checking out plots in Madhavaram, then you buy the
best plot in Madhavaram.
3. Assuming the price quoted is final
As a thumb rule, never assume that a price
quoted by a seller/dealer is final. There is always room to negotiate. When you
finalise, there are hidden costs like registration, permits, etc., that you
will have to pay for. Like a restaurant never tells you the final price of a
dish on the menu but adds the taxes into your bill, the same goes for a property.
When you are ready to finalise the deal, there will be some extra costs for you
to pay.
Plot investment is a great investment option,
one that you should definitely go for. However, err on the side of caution. Avoid
these mistakes when you are checking out plots.
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