Purchasing a house and lot is one of our life’s most significant decisions. It’s a decision that will stay with us (probably) in our lifetime. It’s a huge step worth thinking over a lot of times.
You have to carefully think about the purchase and consider all the things that need to be considered – lot shape, lot slope, location, neighborhood, amenities, etc. These factors must come together before you decide that this lot is the perfect home for your home.
Now, many have been choosing to buy condo units instead of a house and lot. But, if you’re still deciding on whether to buy a condo unit or a house and lot, we’ll give you five reasons why you should go for the latter.
Here it goes:
1. It appreciates over time
Unlike other properties like gadgets, cars, and other material possessions, a lot appreciates over time. Why? Because land is a finite and tangible resource. There is a continuous demand for housing, so the real estate properties will always be of fair value.
2. You can take pride in ownership.
Condominiums are designed to be the same – from paint to layout to the materials used. You can be very limited when it comes to changing things around the condo unit. But with your own house and lot, you are the boss. You can do whatever you want – design your own house, choose your paint color, choose what materials to use. And doing all this stuff gives you a sense of pride and ownership.
Being able to do all these things gives you a sense of stability and security. This also gives you a feeling that you are in control. After all, it is your dream house, and you are the one who’s going to live in it. So, it’s just fair that you get to make these decisions.
3. It’s a better investment.
If you plan to stay in an area for a long time, it will make more sense to buy a house and lot than to pay for monthly rents for an indefinite period. Monthly rents can be too expensive. Imagine paying that amount of money for years, and yet you don’t get to own the property. It’s not so practical, right?
If you have already chosen an area to settle in, consider buying a house and lot instead of renting. Check out some house and land packages in Sunbury. These are the right areas to build your dream home.
4. You can get a good deal.
Prices are now competitive when it comes to buying a house and lot. Just learn to negotiate, and you will get good out of it.
5. The land is a finite resource.
Think of this: the population is increasing, but the land doesn’t (since you cannot make land). This means that as more and more people occupy this earth, there will be higher competition when owning land. When there is high demand and low supply, this means a higher price.
If you invest in a land now, you’ll have a piece of earth or, in some cases, a piece of Diggers Rest that you can call your own. Something no one can ever take away from you (given proper documentary requirements, of course).
The land is a precious property. Think of these factors before making that purchase decision.