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Home is the starting place of love, hope and dreams.

A Pre-Built Home or a Plot of Land - Which One Should You Choose

In line with this thought, it won’t be an exaggeration to say that there is no place like home. Precisely because of this, everyone aspires to buy their own home. However, buying one needs you to consider many aspects like location, market trends and price before sealing the deal. In doing so, you should also use the home loan EMI calculator to check the payouts over the years. 

One of the first important decisions you need to make is whether you want to buy a pre-built home or a plot of land. This single decision will set the course for further planning and action. 

If you are planning to invest in a house any time soon and are wondering which of the two options you should go for, then let us help you with the same. Read below to find out:

Buying a Pre-Built Home

Firstly, if you are planning to take a home loan, you need to check the sum of money that your lender will approve for buying a house. While doing so, you may also use a home loan EMI calculator to know the payouts. Once this is done, you will need to start hunting for the right house with the help of a real estate agent. He will streamline the process of searching and buying the property. You will need to visit different properties, inspect them and negotiate their price.

The two main advantages you can enjoy when buying a pre-built house are as follows:


Firstly, purchasing a pre-built home will save you the hassle of spending time and energy of looking into different things while the construction is in progress. In this case, you can move into the house once the deal is closed. This option is especially a good idea when you need to relocate quickly.


In most cases, buying a pre-built house costs less than constructing a house on your own. Once you find a prospective house, you can use a mortgage calculator as well as a home loan EMI calculator to get an estimate of the total cost.It is easy to use a home loan EMI calculator when taking financial support. When buying such a house, you will shell out a one-time sum of money as against making several expenses when getting the construction done yourself.

There are also some disadvantages related to it, such as not getting the opportunity to customize construction and designing of the house. Also, if you do not inspect the home thoroughly, you may have to spend money on repairs and remodelling soon after.

Buying a Plot of Land

When you buy a plot of land, it requires you to factor in time to find the right plot of land as well as a builder or architect. You also need to be thoroughly involved in planning the structure and design at different stages. Further, you also have to get access for municipal water, sewage systems and other such facilities.

Some advantages of buying and constructing a plot of land yourself:


When you build a house, you can enjoy customizing it as per your needs. From choosing environment-friendly materials and getting the structure built as per your needs, you can decide every aspect of construction. If you are taking money from a bank, then using a home loan EMI calculator can help you align your plans as per your budget properly.

Maximum Satisfaction

On constructing the house as per your needs, you will feel greater satisfaction than otherwise. You can consider every aspect and make modifications, while the construction is still underway. It gives you a chance to ensure that all the materials and designs suit your needs, and you don’t compromise on anything.

When buying a house, whether pre-built or otherwise, you can take support from a financial institute to ensure that you don’t fall short of funds.Financial institutes like Axis bank provide home loans up to Rs. 5 crores for a tenure of 30 years. When you take up their loan facility, you can pay off the amount with ease and flexibility. Plus, the interest you pay under home loan EMIs are tax deductible under Section 24(b). It offers you the right solution to buy your own house without facing any financial stress.


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