Are you looking to buy a residential plot in Coimbatore? Then it’s important to do extensive research and consult some experts. Most investors are indeed in favour of residential plots not only because they are cheaper than houses but also because empty plots tend to have higher appreciation rates. But this doesn’t automatically mean that all residential plots have great potential.
Thus, you must thoroughly assess the value of residential plots in Coimbatore to know if they are worth buying or not. Here are some steps that you must do.
Evaluate the location of the plot
Many aspects must be considered before one can say that the plot is in an ideal location. In which township or community in Coimbatore is it located? The ideal residential plots are in the up and coming neighbourhood because they are more likely to appreciate faster and higher. But then again, you can also consider those plots near schools, parks, markets, and main roads ideal options even though they tend to be more expensive because they are easier to market.
Consider the type of plot
Every type of residential plots in Coimbatore has its pros and cons, determined largely by their shape and features. So when choosing a plot, don’t just look at the price but also their advantages and drawbacks. For example, a cul-de-sac plot tends to cost more because it is in a dead-end street, thereby giving you more privacy and a bigger backyard. A corner plot is also expensive because it provides two front lawns and has better curb appeal. Also, it can provide more accessibility. However, privacy can be a problem because there will be more traffic, especially on busy roads.
Be familiar with the zoning rules and restrictions
Just because it is a residential plot doesn’t mean you can immediately start building a home in it. Before the purchase, check the zoning rules and restrictions so you know what type and how big of a home you can build on the plot.