Investment in land in India is one of the most popular options because you can earn a profit out of it at any time. You can sell it if you need money urgently or you can rent it out and earn a stable monthly income. When my parents purchased the property they had to take a loan but to maintain financial stability they rented their house and from rent money, they paid off the home loan.
Now, on vacant land, you can construct a building for residential purposes, or you can use it for commercial purposes. You may wonder if buying vacant land is a good investment. Well, there are pros and cons to everything. I will share the pros and cons of buying vacant land so that you can decide if you want to buy a piece of vacant land.
Pros:
You can rent, run a business, and construct a house after purchasing vacant land.
You can expect a return of investment by purchasing vacant land,
You can enjoy direct ownership after purchasing vacant land.
Vacant land does not require much maintenance.
Taxes levied on vacant land are generally lower.
Cons:
It is extremely difficult to get a loan for vacant land.
Even though you will get a Return of Investment (ROI) after renting out vacant land, the process is very slow and often gets delayed.
You cannot claim tax exemption for depreciation of vacant land.
Getting permission to run a business on vacant land can be a strenuous task.
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Authors Of The Question
Is buying vacant land a good investment?
Rahul
166Views
2 Year
2022-05-10T10:10:21+00:00 2024-10-04T11:59:39+00:00Comment
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