Residential Plot Dream of an Individual
It’s every individual’s dream is to own a residential plot. When you decide to invest all your hard earned money for buying a residential plot, you must make a sage decision. Hence you should take out your time to list out the things you need to consider before jumping into the decision.
First and most obvious decision involves money. Make this decision based on your own financial situation. Plots generally cost 20-30% of the cost of house construction.
Once you decide how much money you can afford to invest on the plot start looking for the real estate listings in websites, newspapers and magazines. Shortlist the areas you are comfortable with and the amenities you are looking for. Make a note of the residential plots you are interested in.
Approach the seller directly if you are familiar with the real estate proceedings. If not, then a real estate agent can provide you the helpful information on buying process.
A good real estate agent can help you with the following:
- Estimate the value of the area
- Evaluate the value of the plot based on size, topography and soil.
- Verify the government documents for the credibility of the land and the owner.
- Get the necessary approval from the government bodies.
- Check for any delinquencies on taxes.
Finalize the residential plot which meets all the above requirements. Sign the paperwork and you have your dream residential plot.